Ace Tech Endowment Fund FY2021 filing

Chicago, ILUnknown exempt organization EIN 72-1602149Revenue $20K in FY2021Latest filing we have: 2022. Newer ones may not be in our data yet. Filed since? Tell us.

On file with the IRSChicago, IL

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To provide finanacial assistance to Ace Tech charter high school

Form 990 Part I, line 1, FY2021. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 72-1602149) · Dispute this line
Mission: Form 990 Part I, line 1

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2022
latest Form 990
The latest return is for FY2022, 4 tax years back.
IRS e-file · Filing history
Surplus or deficit
2 of 3
filings with a surplus
Average deficit $108K a year · 709% of revenue · last 3 filings
A surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
0%
of spending
0% of spending went to programs.
Pt IX · Ln 25 · col B
1.3 mo
of spending, in cash
Plus $355K in investments, Pt X · Ln 11–13
1.3 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $12K
1 funder names it on their filings.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Liabilities are 0% of assets.
Pt X · Ln 26
Independent board members
4
of 4 voting members
4 of 4 voting members are independent.
Pt VI · Ln 1a–1b
Revenue
$20K
+25% vs prior year
Spent
$3K
To programs
0%
Net assets
$355K
By yearFY2020–FY2022
Revenue
$20K
FY2021▲ +25%
Tap a bar for its year
Revenue by fiscal year
FY2020$16K
FY2021$20K
FY2022$9K
Expenses
$3K
FY2021▲ +76%
Tap a bar for its year
Expenses by fiscal year
FY2020$2K
FY2021$3K
FY2022$365K
Net assets
$355K
FY2021▲ +5%
Tap a bar for its year
Net assets by fiscal year
FY2020$338K
FY2021$355K
FY2022$0

From the FY2021 Form 990 · see the original

You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2022) →

Is it real?

Yes. Never revoked by the IRS. Latest filing we have: FY2022.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

What each dollar paid for.

Management & general 100% · $3K

Form 990 Part IX, line 25. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation
President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
See Ace Tech Endowment Fund executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers financial aid to Ace Tech Charter High School students.

Questions for Ace Tech Endowment Fund

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1 program · in their own filed words · FY2021
01

Provide financial assistance to cover the cost of faculty compensation. Provide skill based assessment and reporting, professional development for ACT/SAT test preparation. Provide chromebooks for students

Form 990 Part III, line 4, FY2021. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 72-1602149) · Dispute this line
Pt IX · Ln 25 · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2020
Total grants receivedfrom 1 funder$12K
Grants paid · 1 grant · $2K · 2022–2022
Ace Amandla Charter High SchoolFY2022$1,871

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$20K
Ln 12
Other incomeLn 4–11$17K
Investment incomeLn 3$4K
Money outPt IX
$3K
Ln 25
Managementcol C$3K
Owns and owesPt X
$355K
net assets · Ln 32
Cash and savingsLn 1–2$290
Total assetsLn 16$355K
LiabilitiesLn 26$0
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$4K
Other incomeLn 4–11$17K
Gains on assetsLn 7$17K
Total revenueLn 12$20K
Assets in detailPt X, end of year
CashLn 1$290
Cash and savings togetherLn 1–2$290
InvestmentsLn 11–13$355K
Total assetsLn 16$355K
LiabilitiesLn 26$0
Net assetsLn 32$355K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3More from this return
EndowmentSch D · Pt V
LineFY21FY20FY19FY18FY17
End of yearLn 1g$355K$338K$297K$637K$843K
AddedLn 1b$2K
SpentLn 1d–1f$3K$2K$456K$212K$2K
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$3K$290
InvestmentsLn 11–13$335K$355K
Total assetsLn 16$338K$355K
LiabilitiesLn 26$0$0
Net assetsLn 32$338K$355K
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$2K$2K
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$40$40
Total functional expensesLn 25$3K$0$3K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 LatestFiled with the IRS Feb 28, 2023 $9K$365K−$355K$0 990 PDF
FY2021 ViewingFiled with the IRS Jun 27, 2022 $20K$3K$17K$355K 990 PDF
FY2020Filed with the IRS May 14, 2021 $16K$2K$15K$338K 990 PDF

Schedules filed Part IV

D · Assets and endowments I · Grants O · Explanations
See the full FY2021 990
Part I · Summary $20,229 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $16,240$20,229
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $16,240$20,229
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,555$2,738
I-18 Total expensesPrior year $1,555$2,738
I-19 Revenue less expensesPrior year $14,685$17,491
Part VI · Governance 4 of 4 board members independent, 2 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $20,229 across 3 lines filed
VIII-3 Investment incomeExcluded from tax $3,589$3,589
VIII-7 Net gain or loss on sales of assetsUnrelated business $16,640$16,640
VIII-12 Total revenueRelated to mission $0 · Unrelated business $16,640 · Excluded from tax $3,589$20,229
Part IX · Statement of functional expenses $2,738 across 3 lines filed
IX-11c Accounting feesManagement $1,500$1,500
IX-23 InsuranceManagement $1,198$1,198
IX-24 Other expenses (24a–d)Management $40$40
IX-25 Total functional expensesPrograms $0 · Management $2,738 · Fundraising $0$2,738
Part X · Balance sheet $355,482 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $2,895$290
X-11 Publicly traded securitiesStart of year $335,092$355,192
X-16 Total assetsStart of year $337,987$355,482
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $337,987$355,482
X-32 Total net assets or fund balancesStart of year $337,987$355,482
X-33 Total liabilities and net assetsStart of year $337,987$355,482
Part XI · Reconciliation of net assets $355,482 net assets at year end
XI-1 Total revenue$20,229
XI-2 Total expenses$2,738
XI-3 Revenue less expenses$17,491
XI-4 Net assets at start of year$337,987
XI-5 Net unrealized gains (losses) on investments$4
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$355,482

Form 990 e-file FY2021 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File

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