A C E ACADEMY: Form 990, tax year 2021
View the entire original 990 at ProPublica ↗
- Organization
- A C E ACADEMY (EIN 32-0407024)
- Tax period
- 2021-07-01 to 2022-06-30
- Filed
- 2023-04-06
- IRS object ID
- 202300969349301530
- Schema version
- 2021v4.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2023-04-06T15:53:26-04:00 | ReturnTs |
| Tax Period End | 2022-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 844233121 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SHARPE PATEL CPA | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 325 ARLINGTON AVE STE 630 | AddressLine1Txt |
| City | CHARLOTTE | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 28203 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2021-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 320407024 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ACE ACADEMY | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | ACEA | BusinessNameControlTxt |
| Phone | 7044567153 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 7807 CALDWELL ROAD | AddressLine1Txt |
| City | HARRISBURG | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 28075 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | LAILA MINOTT | PersonNm |
| Person Title | EXECUTIVE DIRECTOR | PersonTitleTxt |
| Phone | 7044567153 | PhoneNum |
| Signature | 2023-03-25 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | LAILA | PersonFirstNm |
| Person Last | MINOTT | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | MEGAN RUSHFORD CPA | PreparerPersonNm |
| PTIN | P01317611 | PTIN |
| Phone | 7044993893 | PhoneNum |
| Preparation | 2023-04-03 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2021 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | LAILA MINOTT | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 7807 CALDWELL ROAD | AddressLine1Txt |
| City | HARRISBURG | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 28075 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $5,946,294 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.ACEACADEMYCHARTER.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2012 | FormationYr |
| Legal Domicile State | NC | LegalDomicileStateCd |
| Activity Or Mission | ACE ACADEMY WILL EQUIP STUDENTS FROM ALL BACKGROUNDS TO SUCCEED IN THE COLLEGE AND CAREER OF THEIR CHOICE BY DRIVING ACADEMICEXCELLENCE, DEVELOPING A STRONG MINDSET, AND INSTILLING AN ENTREPRENEURIAL MINDSET. | ActivityOrMissionDesc |
| Voting Members Governing Body | 6 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 6 | VotingMembersIndependentCnt |
| Total Employee | 89 | TotalEmployeeCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| PY Contributions Grants | $4,585,586 | PYContributionsGrantsAmt |
| CY Contributions Grants | $5,080,343 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $1,864 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $6,623 | CYProgramServiceRevenueAmt |
| PY Investment Income | $1,626 | PYInvestmentIncomeAmt |
| CY Investment Income | $393 | CYInvestmentIncomeAmt |
| PY Other Revenue | $25,366 | PYOtherRevenueAmt |
| CY Other Revenue | $254,311 | CYOtherRevenueAmt |
| PY Total Revenue | $4,614,442 | PYTotalRevenueAmt |
| CY Total Revenue | $5,341,670 | CYTotalRevenueAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $67,439 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $2,869,575 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $5,477 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $4,183,674 | PYOtherExpensesAmt |
| CY Other Expenses | $2,671,536 | CYOtherExpensesAmt |
| PY Total Expenses | $4,251,113 | PYTotalExpensesAmt |
| CY Total Expenses | $5,541,111 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $363,329 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$199,441 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $8,029,456 | TotalAssetsBOYAmt |
| Total Assets EOY | $20,004,076 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $7,054,472 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $19,228,533 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $974,984 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $775,543 | NetAssetsOrFundBalancesEOYAmt |
| Mission | ACE ACADEMY WILL EQUIP STUDENTS FROM ALL BACKGROUNDS TO SUCCEED IN THE COLLEGE AND CAREER OF THEIR CHOICE BY DRIVING ACADEMICEXCELLENCE, DEVELOPING A STRONG MINDSET, AND INSTILLING AN ENTREPRENEURIAL MINDSET. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $3,675,943 | ExpenseAmt |
| Revenue | $6,623 | RevenueAmt |
| Desc | A.C.E. ACADEMY IS A PUBLIC, TUITION-FREE K-8 CHARTER SCHOOL DEDICATED TO PREPARING STUDENTS FOR SUCCESS IN HIGH SCHOOL AND BEYOND. | Desc |
| Total Program Service Expenses | $3,675,943 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (true) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (true) | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Lobbying Activities | false | LobbyingActivitiesInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | false | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (true) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | false | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (true) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | false | ConsolidatedAuditFinclStmtInd |
| School Operating | Yes (true) | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | false | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | false | PYExcessBenefitTransInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | false | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | Yes (true) | DisregardedEntityInd |
| Related Entity | false | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | false | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 15 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | false | BackupWthldComplianceInd |
| Employee | 89 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | false | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 6 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 6 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | false | MembersOrStockholdersInd |
| Election Of Board Members | false | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | false | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | false | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | false | RegularMonitoringEnfrcInd |
| Whistleblower Policy | false | WhistleblowerPolicyInd |
| Document Retention Policy | false | DocumentRetentionPolicyInd |
| Compensation Process CEO | false | CompensationProcessCEOInd |
| Compensation Process Other | false | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | NC | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | PARIS HODGE CPA | PersonNm |
| Phone | 8004944330 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 7696 STOUT | AddressLine1Txt |
| City | DETROIT | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 48228 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (7 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd |
|---|---|---|---|---|---|---|
| LAILA MINOTT | ||||||
| EXECUTIVE DI | 60.00 | Yes (X) | $126,924 | $0 | $0 | |
| GWEN ABDULLAH | ||||||
| CHAIR | 2.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| KENDRIC BEST | ||||||
| MEMBER | 2.00 | $0 | $0 | $0 | Yes (X) | |
| JOYCE FIGAROA | ||||||
| MEMBER | 2.00 | $0 | $0 | $0 | Yes (X) | |
| DIONNA GRAHAM | ||||||
| MEMBER | 2.00 | $0 | $0 | $0 | Yes (X) | |
| CHYNCIA RODGERS | ||||||
| MEMBER | 2.00 | $0 | $0 | $0 | Yes (X) | |
| ADOLPHE THORPE | ||||||
| TREASURER | 2.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $126,924 | TotalReportableCompFromOrgAmt |
| Indiv Rcvd Greater Than100 K | 1 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | false | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
| Government Grants | $5,059,747 | GovernmentGrantsAmt |
| All Other Contributions | $20,596 | AllOtherContributionsAmt |
| Total Contributions | $5,080,343 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| STUDENT ACTIVITIES AND FEES | 611710 | $4,263 | $4,263 |
| FOOD SERVICE AND SCHOOL CARE | 611710 | $2,360 | $2,360 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $6,623 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $393 | TotalRevenueColumnAmt |
| Exclusion | $393 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $755,938 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $604,624 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $151,314 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $151,314 | TotalRevenueColumnAmt |
| Exclusion | $151,314 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| ERATE (ECF) | 900099 | $76,416 | $76,416 |
| MISCELLANEOUS | 900099 | $26,556 | $26,556 |
| FINES AND FORFEITS | 900099 | $25 | $25 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $102,997 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $5,341,670 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $109,620 | RelatedOrExemptFuncIncomeAmt |
| Exclusion | $151,707 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $126,923 | TotalAmt |
| Program Services | $86,308 | ProgramServicesAmt |
| Management And General | $40,615 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,148,067 | TotalAmt |
| Program Services | $1,417,724 | ProgramServicesAmt |
| Management And General | $730,343 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $412,559 | TotalAmt |
| Program Services | $272,289 | ProgramServicesAmt |
| Management And General | $140,270 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $182,026 | TotalAmt |
| Program Services | $120,137 | ProgramServicesAmt |
| Management And General | $61,889 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,175 | TotalAmt |
| Program Services | $9,355 | ProgramServicesAmt |
| Management And General | $4,820 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $71,200 | TotalAmt |
| Program Services | $46,992 | ProgramServicesAmt |
| Management And General | $24,208 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $320,488 | TotalAmt |
| Program Services | $211,522 | ProgramServicesAmt |
| Management And General | $108,966 | ManagementAndGeneralAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $37,330 | TotalAmt |
| Program Services | $24,638 | ProgramServicesAmt |
| Management And General | $12,692 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $114,394 | TotalAmt |
| Program Services | $75,500 | ProgramServicesAmt |
| Management And General | $38,894 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $141,591 | TotalAmt |
| Program Services | $93,450 | ProgramServicesAmt |
| Management And General | $48,141 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $346,486 | TotalAmt |
| Program Services | $228,681 | ProgramServicesAmt |
| Management And General | $117,805 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $71,151 | TotalAmt |
| Program Services | $46,960 | ProgramServicesAmt |
| Management And General | $24,191 | ManagementAndGeneralAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,491 | TotalAmt |
| Program Services | $6,924 | ProgramServicesAmt |
| Management And General | $3,567 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $450,238 | TotalAmt |
| Program Services | $297,157 | ProgramServicesAmt |
| Management And General | $153,081 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $65,946 | TotalAmt |
| Program Services | $43,524 | ProgramServicesAmt |
| Management And General | $22,422 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $28,246 | TotalAmt |
| Program Services | $18,642 | ProgramServicesAmt |
| Management And General | $9,604 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| LEASE AMORTIZATION EXPENS | $277,713 | $188,845 | $88,868 |
| BOOKS AND SUPPLIES | $183,001 | $124,441 | $58,560 |
| EXTENDED DAY PROGRAM | $172,440 | $117,259 | $55,181 |
| SCHOOL FOOD SERVICES | $151,935 | $103,316 | $48,619 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $214,711 | TotalAmt |
| Program Services | $142,279 | ProgramServicesAmt |
| Management And General | $66,955 | ManagementAndGeneralAmt |
| Fundraising | $5,477 | FundraisingAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,541,111 | TotalAmt |
| Program Services | $3,675,943 | ProgramServicesAmt |
| Management And General | $1,859,691 | ManagementAndGeneralAmt |
| Fundraising | $5,477 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,211,919 | BOYAmt |
| EOY | $1,848,518 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $240,118 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $59,797 | BOYAmt |
| EOY | $11,337 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $6,400,661 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $807,857 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,754,040 | BOYAmt |
| EOY | $5,592,804 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,700 | BOYAmt |
| EOY | $12,311,299 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,029,456 | BOYAmt |
| EOY | $20,004,076 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $164,472 | BOYAmt |
| EOY | $108,689 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,890,000 | BOYAmt |
| EOY | $19,119,844 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,054,472 | BOYAmt |
| EOY | $19,228,533 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $974,984 | BOYAmt |
| EOY | $775,543 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $974,984 | BOYAmt |
| EOY | $775,543 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,029,456 | BOYAmt |
| EOY | $20,004,076 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | -$199,441 | ReconcilationRevenueExpnssAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | Yes (true) | FederalGrantAuditRequiredInd |
| Federal Grant Audit Performed | Yes (true) | FederalGrantAuditPerformedInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School | Yes (X) | SchoolInd |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,304,387 | OtherCostOrOtherBasisAmt |
| Depreciation | $284,073 | DepreciationAmt |
| Book Value | $1,020,314 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $5,096,274 | OtherCostOrOtherBasisAmt |
| Depreciation | $523,784 | DepreciationAmt |
| Book Value | $4,572,490 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $5,592,804 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp (4 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| LEASE RECEIVABLE, NONCURRENT | $6,149,572 |
| RIGHT TO USE LEASED ASSETS | $6,132,823 |
| ACCRUED INTEREST ON LEASE REC | $25,204 |
| SECURITY DEPOSITS | $3,700 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $12,311,299 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (3 entries)
| DescDesc | AmtAmt |
|---|---|
| MORE THAN ONE YEAR | $12,729,960 |
| DEFFERED INFLOWS | $6,142,167 |
| WITHIN ONE YEAR | $247,717 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $19,119,844 | TotalLiabilityAmt |
| Total Rev Etc Audited Fincl Stmt | $5,341,670 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Subtotal | $5,341,670 | RevenueSubtotalAmt |
| Total Revenue Per Form990 | $5,341,670 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $5,541,111 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Subtotal | $5,541,111 | ExpensesSubtotalAmt |
| Total Expenses Per Form990 | $5,541,111 | TotalExpensesPerForm990Amt |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | false | NondiscriminatoryPolicyStmtInd |
| Policy Stmt In Brochures Etc | false | PolicyStmtInBrochuresEtcInd |
| Plcy Pblczd Via Broadcast Media | false | PlcyPblczdViaBroadcastMediaInd |
| Maintain Racial Comp Recs | false | MaintainRacialCompRecsInd |
| Maintain Scholarships Recs | false | MaintainScholarshipsRecsInd |
| Maintain Cpy Of Brochures Etc | false | MaintainCpyOfBrochuresEtcInd |
| Maintain Cpy Of All Sol | false | MaintainCpyOfAllSolInd |
| Discriminate Race Stdnts Rghts | false | DiscriminateRaceStdntsRghtsInd |
| Discriminate Race Admiss Plcy | false | DiscriminateRaceAdmissPlcyInd |
| Discriminate Race Emplm Fculty | false | DiscriminateRaceEmplmFcultyInd |
| Discriminate Race Schs | false | DiscriminateRaceSchsInd |
| Discriminate Race Educ Plcy | false | DiscriminateRaceEducPlcyInd |
| Discriminate Race Use Of Fclts | false | DiscriminateRaceUseOfFcltsInd |
| Discriminate Race Athlt Prog | false | DiscriminateRaceAthltProgInd |
| Discriminate Race Other Acty | false | DiscriminateRaceOtherActyInd |
| Government Financial Aid Rcvd | Yes (true) | GovernmentFinancialAidRcvdInd |
| Government Financial Aid Rvkd | false | GovernmentFinancialAidRvkdInd |
| Compliance With Rev Proc7550 | Yes (true) | ComplianceWithRevProc7550Ind |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE E, LINE 3 | A.C.E. ACADEMY IS A PUBLIC CHARTER SCHOOL AND IS NOT REQUIRED TO FILE FORM 5578. THEREFORE, SCHEDULE E IS NOT APPLICABLE. |
| SCHEDULE E, LINE 4 | A.C.E. ACADEMY IS A PUBLIC CHARTER SCHOOL AND IS NOT REQUIRED TO FILE FORM 5578. THEREFORE, SCHEDULE E IS NOT APPLICABLE. |
| SCHEDULE E, LINE 6 | THE SCHOOL IS ORGANIZED AS A CHARTER SCHOOL UNDER NORTH CAROLINA GENERAL STATUTE 115C-238 29A. ACCORDINGLY, IT RECEIVES BOTH FEDERAL AND STATE FUNDING AS ITS PRIMARY MEANS OF SUPPORT. |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PAGE 6, PART VI, LINE 11B | THE BOARD OF DIRECTORS WILL REVIEW THE FORM 990 PRIOR TO FILING. |
| FORM 990, PAGE 6, PART VI, LINE 19 | THE ORGANIZATION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC AT THE FRONT OF THE SCHOOL OFFICE. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ACE ACADEMY FOUNDATION LLC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 7807 CALDWELL ROAD | AddressLine1Txt |
| City | HARRISBURG | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 28075 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 841876607 | EIN |
| Primary Activities | RENTAL | PrimaryActivitiesTxt |
| Legal Domicile State | NC | LegalDomicileStateCd |
| Total Income | $755,938 | TotalIncomeAmt |
| End Of Year Assets | $12,120,541 | EndOfYearAssetsAmt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ACE ACADEM | BusinessNameLine1Txt |
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