Friends of Ace

Analysis

Friends of Ace is a registered charity in United States, based in Reno, NV. It received its IRS tax-exemption ruling in May 2007, 19 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Friends of Ace reported income of $204k and spending of $88k, leaving 57% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $39k to $204k (+427%), an average of +52% a year. The sharpest change came in the year to June 2021, when income rose by 189%. Over the whole period it spent 73% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Friends of Ace sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 54th percentile, and in the 59th percentile within NV. Charities of a similar size with the same main cause include Heal Our City Inside Out Inc ($204k), Psatma Endowment Foundation ($204k) and Birmingham Baptist Bible College ($204k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 100% of the total. At year end it held assets of $1.1m against liabilities of $0, net assets of $1.1m.