Ace Academy

Analysis

Ace Academy is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in May 2019, 7 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 December 2023, Ace Academy reported income of $1.3m and spending of $1.4m, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $246k to $1.3m (+449%), an average of +53% a year. The sharpest change came in the year to December 2020, when income rose by 129%. Over the whole period it spent 104% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Ace Academy sits at the 79th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 82nd percentile within WA. Charities of a similar size with the same main cause include Garden of Dreams Community Preschool and Child Care ($1.3m), Questech Learning ($1.3m) and Riverdale Nursery School and Family Center ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $679k. At year end it held assets of $177k against liabilities of $34k, net assets of $143k. It reported 33 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.