2025-06-20T07:19:45-05:00 2024-12-31 HAN GROUP LLC 1020 19TH STREET NW SUITE 800 WASHINGTON DC 20036 990 2024-01-01 463200311 ACE FOUNDATION ACEF 2022042579 1300 PENNSYLVANIA AVENUE NW 700 WASHINGTON DC 20004 CHILING TONG PRESIDENT AND CEO 2022042579 2025-06-17 1 1 JENNIFER S HAN P00633304 2022937000 2025-06-17 2024 2025-03-06 01:10:19Z NATIONAL ACE FOUNDATION CHILING TONG 1300 PENNSYLVANIA AVENUE NW 700 WASHINGTON DC 20004 3207046 0 X WWW.NATIONALACE.ORG X 2013 DC IMPROVE THE QUALITY OF LIFE FOR ASIAN AND PACIFIC ISLANDER AMERICANS THROUGH BUSINESS EDUCATION. 13 13 0 17 0 0 2549006 3017578 0 105245 13402 84223 2800 0 2565208 3207046 1343438 1344763 0 0 0 0 0 0 0 889895 956044 2233333 2300807 331875 906239 2452433 3366612 353996 367269 2098437 2999343 X TO IMPROVE THE QUALITY OF LIFE FOR ASIAN AND PACIFIC ISLANDER AMERICANS BY ASSISTING THE ASIAN AMERICAN AND PACIFIC ISLANDER (AAPI) AND ALL SMALL BUSINESS COMMUNITIES THROUGH BUSINESS EDUCATION AND TRAINING, RESEARCH, AND COMMUNITY DEVELOPMENT. 0 0 1260000 1260000 105245 AAPISTRONG AND SMALL BUSINESS PRIORITY: AAPISTRONG IS A NATIONAL CALL-TO-ACTION PROGRAM POWERED BY THE NATIONAL ASIAN/PACIFIC ISLANDER AMERICAN CHAMBER OF COMMERCE AND ENTREPRENEURSHIP (NATIONAL ACE). THE PROGRAM'S PRIMARY GOAL IS TO CONVENE OUR NETWORK OF BUSINESS ORGANIZATIONS, ENTREPRENEURS, CORPORATE LEADERS, AND STAKEHOLDERS TO ADVANCE EQUITY, JUSTICE, AND OPPORTUNITY FOR COMMUNITIES EVERYWHERE. THE AAPISTRONG PROGRAM FOSTERS THE WELLBEING OF THESE VITAL INSTITUTIONS BY PROVIDING TECHNICAL ASSISTANCE ON BUSINESS RESILIENCE, RESOURCES ON BUSINESS RECOVERY, INFORMATION ON STARTING, GROWING, OR RETAINING A BUSINESS, AND CREATING AVENUES FOR EDUCATION ON ACCESS TO CAPITAL AND CONTRACTING. ACE FOUNDATION HAD 214 IN-PERSON ATTENDEES AT 3 BUSINESS WORKSHOPS IN 2024. 254826 7225 ECONOMIC DEVELOPMENT - ACE FOUNDATION EDUCATES LOCAL AND REGIONAL AAPI CHAMBERS OF COMMERCE, MOU PARTNERS, AND OTHER STAKEHOLDERS ACROSS THE COUNTRY TO PROVIDE INNOVATIVE BUSINESS SOLUTIONS THROUGH QUALITY PROGRAMS AND SERVICES. ACE FOUNDATION ALSO CONTRIBUTES TO OUR NATION'S ECONOMIC GROWTH, BUSINESS DEVELOPMENT, AND GOVERNMENT EFFICIENCY BY SUPPORTING PROGRAMS AND POLICIES THAT CREATE MORE AAPI BUSINESS OWNERS, ENTREPRENEURS, AND CORPORATE LEADERS. IN 2024, ACE FOUNDATION HELD 4 MULTI-WEEK ACCELERATORS WITH 2,804 ATTENDEES. 246969 7225 EDUCATION - ACE FOUNDATION WORKS TO EDUCATE ASIAN AMERICAN AND PACIFIC ISLANDER AND ALL SMALL BUSINESS COMMUNITIES ON ISSUES THAT WILL DIRECTLY IMPROVE THEIR ECONOMIC, POLITICAL, AND SOCIAL WELL-BEING. ACE FOUNDATION HOSTS EVENTS AIMED TO HELP EDUCATE MINORITY AND ALL BUSINESS COMMUNITIES. THESE EVENTS INCLUDE ROUNDTABLES AND SYMPOSIUMS COORDINATED WITH FEDERAL GOVERNMENT AGENCIES. MANY OF THESE EVENTS ARE VIRTUAL WEBINARS WHICH COVER TOPICS AROUND ACCESS TO CAPITAL, CONTRACTING OPPORTUNITIES, GRANT WRITING, RETIREMENT SECURITY, FINANCIAL CAPACITY, AND CHALLENGES FACING MINORITY BUSINESS OWNERS. IN 2024, ACE FOUNDATION HAD A TOTAL OF 3,159 IN-PERSON ATTENDEES AND 3,839 WEBINAR ATTENDEES. WE HAD A TOTAL OF 970 ATTENDEES AT OUR SMALL BUSINESS ROUNDTABLES AND 1,416 AT OUR SIGNATURE EVENTS. 70313 70313 OTHER PROGRAMS 70313 70313 1832108 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 13 13 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 CA IL NY X MICHELLE IM 2022042579 1300 PENNSYLVANIA AVENUE NW NO 700 WASHINGTON DC 20004 X KAREN ENG CHAIR 2.00 X X 0 0 0 JIMMY FERGUSON VICE CHAIR 2.00 X X 0 0 0 TRACEY DOI TREASURER 2.00 X X 0 0 0 AMIT BHATNAGAR SECRETARY (THROUGH JANUARY) 2.00 X X 0 0 0 CY CHEN DIRECTOR 1.00 X 0 0 0 MELODY CHEN DIRECTOR 1.00 X 0 0 0 SUSAN JIN DAVIS DIRECTOR 1.00 X 0 0 0 TAMMY FUNASAKI DIRECTOR 1.00 X 0 0 0 DENNIS HUANG DIRECTOR 1.00 X 0 0 0 BILL IMADA DIRECTOR 1.00 X 0 0 0 NARUMI INATSUGU DIRECTOR 1.00 X 0 0 0 CHEWY JANG DIRECTOR (THROUGH JANUARY) 1.00 X 0 0 0 SHAU-WAI LAM DIRECTOR 1.00 X 0 0 0 MARTY LORENZO DIRECTOR (THROUGH JANUARY) 1.00 X 0 0 0 IAN SO DIRECTOR (THROUGH JANUARY) 1.00 X 0 0 0 FA'AMOANA UTA'I DIRECTOR 1.00 X 0 0 0 BIN YU DIRECTOR 1.00 X 0 0 0 CHILING TONG PRESIDENT AND CEO 2.00 X 0 0 0 0 0 0 0 0 0 1 NATIONAL ACE 1300 PENSYLVANIA AVENUE NW 700 WASHINGTON DC 20004 MANAGEMENT & ADMINISTRATIVE SVCS 853750 1 3017578 20000 3017578 CONFERENCE REVENUE 900099 105245 105245 105245 84223 84223 3207046 105245 0 84223 1344763 1344763 460000 460000 3090 3090 150 150 234 234 187345 187345 300000 300000 3226 3226 SUBSCRIPTIONS 1999 1999 2300807 1832108 468699 0 872561 856131 48438 100000 2338 52645 1527321 2356061 1775 1775 2452433 3366612 63333 68515 23438 0 267225 298754 353996 367269 X 1988437 2594343 110000 405000 2098437 2999343 2452433 3366612 906239 -5333 0 X X 0 1 X 1 0 X 297402 4902722 3854681 2549006 3017578 14621389 297402 4902722 3854681 2549006 3017578 14621389 9483820 5137569 18 13402 84223 97643 2800 2800 14721832 490246 0.34900 0.34360 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS REVENUE - 2023 AMOUNT: $ 1,000. SPEAKER FEES - 2023 AMOUNT: $ 1,800. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 DUE TO AFFILIATE 298754 298754 X PART X, LINE 2: THE ORGANIZATION FOLLOWS THE AUTHORITATIVE GUIDANCE RELATING TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES INCLUDED IN ACCOUNTING STANDARDS CODIFICATION TOPIC 740-10, INCOME TAXES. THESE PROVISIONS PROVIDE CONSISTENT GUIDANCE FOR THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS AND PRESCRIBE A THRESHOLD OF "MORE LIKELY THAN NOT" FOR RECOGNITION AND DERECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. IT IS THE ORGANIZATION'S POLICY TO RECOGNIZE INTEREST AND/OR PENALTIES RELATED TO UNCERTAIN TAX POSITIONS, IF ANY, IN INCOME TAX EXPENSES. THE ORGANIZATION PERFORMED AN EVALUATION OF UNCERTAIN TAX POSITIONS FOR THE YEAR ENDED DECEMBER 31, 2024 AND DETERMINED THAT THERE WERE NO MATTERS THAT WOULD REQUIRE RECOGNITION IN THE CONSOLIDATED FINANCIAL STATEMENTS OR THAT MAY HAVE ANY EFFECT ON ITS TAX-EXEMPT STATUS. 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THE ORGANIZATION ASKS RECIPIENTS TO DESCRIBE HOW THEY USE THE FUNDS AND HOW THE FUNDS HAVE IMPACTED THEIR BUSINESS. RECIPIENTS ARE ALSO REQUIRED TO SUBMIT PHOTOS OF ANY IMPROVEMENTS MADE. THE FOLLOWING IS THE LIST OF QUESTIONS ASKED TO RECIPIENTS: (1)HOW DID YOU USE THE FUNDS? (2)HOW DID THE FUNDS IMPACT YOUR BUSINESS? (3)CAN YOU GIVE ANY SPECIFIC EXAMPLES OF HOW THE FUNDS HELPED YOU ACHIEVE A BUSINESS GOAL OR GROW IN CAPACITY? (4)PLEASE INCLUDE ANY PHOTOS OF IMPROVEMENTS MADE WITH THE FUNDS TO YOUR BUSINESS, OR A PHOTO OF YOU IN FRONT OF YOUR PLACE OF BUSINESS. IF YOU ARE FAMILY-RUN, SHARE A PHOTO OF YOU AND YOUR FAMILY IN THE RESTAURANT. 0 0 0 0 0 0 0 0 0 PART I, LINE 3 THE FOUNDATION DOES NOT DIRECTLY HIRE OR COMPENSATE EMPLOYEES. ALL EMPLOYEES ARE EMPLOYEES OF ASIAN & PACIFIC ISLANDER AMERICAN CHAMBER OF COMMERCE & ENTREPRENEURSHIP (ACE), AN AFFILIATED ORGANIZATION EXEMPT UNDER SECTION 501(C)(6). ACE'S BOARD OF DIRECTORS ESTABLISHES AND APPROVES THE COMPENSATION FOR ITS PRESIDENT & CEO. ACE'S EXECUTIVE/GOVERNANCE COMMITTEE REVIEWS COMPENSATION FINDINGS AND PROVIDES RECOMMENDATIONS AND GUIDANCE ON THE COMPENSATION PACKAGE. AFTER REVIEWING THE REPORT FINDINGS AND CONSIDERING THE DATA REGARDING COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED INDIVIDUALS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS, THE EXECUTIVE/GOVERNANCE COMMITTEE TAKES ACTION AND RECOMMENDS THE COMPENSATION PACKAGE FOR THE PRESIDENT & CEO. THE PROCESS WAS LAST CONDUCTED IN DECEMBER 2023. FORM 990, PART VII, SECTION A, LINE 5 THE ASIAN & PACIFIC ISLANDER AMERICAN CHAMBER OF COMMERCE & ENTREPRENEURSHIP COMPENSATED CHILING TONG, THE PRESIDENT AND CEO OF THE ACE FOUNDATION. X 4 20000 FMV 1 0 0 0 PART I, COLUMN (B): THE TOTAL REPRESENTED IN PART I, COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTIONS THAT WERE RECEIVED FOR THE YEAR ENDED DECEMBER 31, 2024. FORM 990, PART VI, SECTION A, LINE 3 THE MANAGEMENT AND ADMINISTRATIVE SERVICES AGREEMENT ("AGREEMENT") IS MADE BY AND BETWEEN THE ASIAN & PACIFIC ISLANDER AMERICAN CHAMBER OF COMMERCE AND ENTREPRENEURSHIP, A DISTRICT OF COLUMBIA NONPROFIT CORPORATION ("ACE") AND THE ACE FOUNDATION, A DISTRICT OF COLUMBIA NONPROFIT CORPORATION (THE "FOUNDATION"). MANAGEMENT AND ADMINISTRATIVE SERVICES INCLUDES, BUT IS NOT LIMITED TO: (A) SUPERVISION OF ALL PERSONS WHO PERFORM COMPENSATED SERVICES ON BEHALF OF THE FOUNDATION (B) ADMINISTRATION OF ALL FUNDS RECEIVED BY THE FOUNDATION (C) MAINTENANCE OF ACCURATE, COMPLETE, AND SEPARATE FINANCIAL RECORDS (D) ACKNOWLEDGMENT OF CONTRIBUTIONS (E) CONTROL FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PREPARED BY OUTSIDE ACCOUNTANTS AND REVIEWED BY THE PRESIDENT & CEO AND THE BOARD OF DIRECTORS BEFORE FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C IN ADHERENCE TO THE CONFLICT OF INTEREST POLICY, BOARD OF DIRECTORS AND STAFF MUST DISCLOSE ANY CONFLICTS OF INTEREST AND ABSTAIN FROM VOTING ON ANY MATTERS FOR WHICH HE OR SHE HAS A CONFLICT. THE MEMBER WITH A CONFLICT RECUSES HIMSELF OR HERSELF FROM THE DISCUSSION, AND THE REMAINING BOARD MEMBERS RESOLVE THE MATTER IN WHAT IS DEEMED THE BEST INTEREST OF THE FOUNDATION. FORM 990, PART VI, SECTION B, LINE 15 THE FOUNDATION DOES NOT DIRECTLY HIRE OR COMPENSATE EMPLOYEES. ALL EMPLOYEES ARE EMPLOYEES OF ASIAN & PACIFIC ISLANDER AMERICAN CHAMBER OF COMMERCE & ENTREPRENEURSHIP (ACE), AN AFFILIATED ORGANIZATION EXEMPT UNDER SECTION 501(C)(6). ACE'S BOARD OF DIRECTORS ESTABLISHES AND APPROVES THE COMPENSATION FOR ITS PRESIDENT & CEO. ACE'S EXECUTIVE/GOVERNANCE COMMITTEE REVIEWS COMPENSATION FINDINGS AND PROVIDES RECOMMENDATIONS AND GUIDANCE ON THE COMPENSATION PACKAGE. AFTER REVIEWING THE REPORT FINDINGS AND CONSIDERING THE DATA REGARDING COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED INDIVIDUALS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS, THE EXECUTIVE/GOVERNANCE COMMITTEE TAKES ACTION AND RECOMMENDS THE COMPENSATION PACKAGE FOR THE PRESIDENT & CEO. THE PROCESS WAS LAST CONDUCTED IN DECEMBER 2023. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES AVAILABLE UPON REQUEST THE FOLLOWING: 1. GOVERNING DOCUMENTS 2. CONFLICT OF INTEREST POLICY 3. FINANCIAL STATEMENTS FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.