Ace Opportunities

Analysis

Ace Opportunities is a registered charity in United States, based in Largo, FL. It received its IRS tax-exemption ruling in January 2011, 15 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, Ace Opportunities reported income of $672k and spending of $682k, spending 101% of its income. Across the 6 years on record, from December 2018 to December 2023, income grew from $350k to $672k (+92%), an average of +14% a year. The sharpest change came in the year to December 2020, when income rose by 87%. Over the whole period it spent 102% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Ace Opportunities sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 77th percentile within FL. Charities of a similar size with the same main cause include Abba Fund Inc ($672k), Newaygo County Agricultural Fair Assn ($672k) and St Joseph Center of Arkansas ($671k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $75k (11% of expenses). Other salaries and wages came to $122k. At year end it held assets of $567k against liabilities of $640k, net assets of -$73k. It reported 7 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.