NonprofitsAce Foundation

Human Services

Ace Foundation

WASHINGTON, DC

Total revenue

$3.2M

Total expenses

$2.3M

Net assets

$3.0M

Grants received

$6.2M

25 grants

EIN

463200311

Tax year

2024

Mission

Improve the quality of life for asian and pacific islander americans through business education.

Programs

3 programs

Economic development - ace foundation educates local and regional aapi chambers of commerce, mou partners, and other stakeholders across the country to provide innovative business solutions through quality programs and services. Ace foundation also contributes to our nation's economic growth, business development, and government efficiency by supporting programs and policies that create more aapi business owners, entrepreneurs, and corporate leaders. In 2024, ace foundation held 4 multi-week accelerators with 2,804 attendees.

Expenses: $255KGrants: $7K

Education - ace foundation works to educate asian american and pacific islander and all small business communities on issues that will directly improve their economic, political, and social well-being. Ace foundation hosts events aimed to help educate minority and all business communities. These events include roundtables and symposiums coordinated with federal government agencies. Many of these events are virtual webinars which cover topics around access to capital, contracting opportunities, grant writing, retirement security, financial capacity, and challenges facing minority business owners. In 2024, ace foundation had a total of 3,159 in-person attendees and 3,839 webinar attendees. We had a total of 970 attendees at our small business roundtables and 1,416 at our signature events.

Expenses: $247KGrants: $7K

Other programs

Expenses: $70KGrants: $70K

Financials

FY 2024

Revenue

Contributions & grants$3.0M
Program service revenue$105K
Investment income$84K
Other revenue
Total revenue$3.2M

Expenses

Grants paid$1.3M
Salaries & benefits
Fundraising
Other expenses$956K
Total expenses$2.3M
Total assets$3.4M
Net assets$3.0M

People

18 listed

NameRoleCompensation

KAREN ENG

CHAIR

Board

2 hrs/wk

JIMMY FERGUSON

VICE CHAIR

Board

2 hrs/wk

TRACEY DOI

TREASURER

Board

2 hrs/wk

AMIT BHATNAGAR

SECRETARY (THROUGH JANUARY)

Board

2 hrs/wk

CY CHEN

DIRECTOR

Board

1 hrs/wk

MELODY CHEN

DIRECTOR

Board

1 hrs/wk

SUSAN JIN DAVIS

DIRECTOR

Board

1 hrs/wk

TAMMY FUNASAKI

DIRECTOR

Board

1 hrs/wk

DENNIS HUANG

DIRECTOR

Board

1 hrs/wk

BILL IMADA

DIRECTOR

Board

1 hrs/wk

NARUMI INATSUGU

DIRECTOR

Board

1 hrs/wk

CHEWY JANG

DIRECTOR (THROUGH JANUARY)

Board

1 hrs/wk

SHAU-WAI LAM

DIRECTOR

Board

1 hrs/wk

MARTY LORENZO

DIRECTOR (THROUGH JANUARY)

Board

1 hrs/wk

IAN SO

DIRECTOR (THROUGH JANUARY)

Board

1 hrs/wk

FA'AMOANA UTA'I

DIRECTOR

Board

1 hrs/wk

BIN YU

DIRECTOR

Board

1 hrs/wk

CHILING TONG

PRESIDENT AND CEO

Board

2 hrs/wk

Independent contractors

NATIONAL ACE

MANAGEMENT & ADMINISTRATIVE SVCS

$854K

Grants received

Showing 25 of 25

FromAmountPurposeYear
$2.3M
For grant recipient's exempt purposes
2023
$100K
PROGRAM/OPERATING SUPPORT
2023
$59K
CULTURE & ARTS
2023
$25K
TO SUPPORT ASIAN AMERICAN AND PACIFIC ISLANDER BUSINESSES AND COMMUNITIES.
2023
$1.9M
For grant recipient's exempt purposes
2022
$100K
PROGRAM/OPERATING SUPPORT
2022
$25K
TO SUPPORT ASIAN AMERICAN AND PACIFIC ISLANDER BUSINESSES AND COMMUNITIES.
2022
$25K
SUPPORT AAPI COMMUNITY
2022
$25K
PROGRAM/OPERATING SUPPORT
2022
$10K
General & Unrestricted
2022
$650K
For grant recipient's exempt purposes
2021
$650K
For grant recipient's exempt purposes
2021
$125K
RACIAL JUSTICE
2021
$25K
GENERAL PURPOSE GRANT
2021
$50K
ACE NextGen: Collaborative Outreach Program for AAPI Millennial Entrepreneurs
2020
$25K
GENERAL PURPOSE GRANT
2020

Funded by

$6.2M from 11 funders · 25 grants · 2018–2024

Fidelity Investments Charitable Gift Fund

$5.4M · 4 grants · 2021–2023

The Bank of America Charitable Foundation Inc

$300K · 6 grants · 2020–2023

California Community Foundation

$125K · 1 grant · 2021

Tsuha Foundation

$100K · 4 grants · 2020–2023

Donor Advised Charitable Giving Inc

$65K · 2 grants · 2020–2023

National Philanthropic Trust

$59K · 1 grant · 2023

The Coca-Cola Foundation Inc

$50K · 1 grant · 2020

The Shau-Wai & Marie Lam Family

$40K · 3 grants · 2018–2024

Details

EIN463200311
NTEE codeP20
Subsection03
Ruling date2014-08
Formed2013
Employees0
Volunteers17
ACE FOUNDATION — Mission, Financials & Grants Received | Grantivo