Ace Foundation

Analysis

Ace Foundation is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in August 2014, 12 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 Foundation reported income of $2.6m and spending of $2.2m, spending 87% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $312k to $2.6m (+723%), an average of +69% a year. The sharpest change came in the year to December 2021, when income rose by 1171%. Over the whole period it spent 88% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Ace Foundation sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 70th percentile within DC. Charities of a similar size with the same main cause include Fathers Uplift Inc ($2.6m), Columbia Urban League Inc ($2.6m) and Waste Not Want Not ($2.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. At year end it held assets of $2.5m against liabilities of $354k, net assets of $2.1m.