2020-11-05T15:32:32-05:00 2019-12-31 208401715 TUNG T TU CPA LLC PO BOX 37 VIENNA VA 22183 990 2019-01-01 463200311 ACE FOUNDATION ACEF 1300 PENNSYLVANIA AVE WASHINGTON DC 20004 CHILING TONG PRESIDENT & CEO 2027150787 2020-11-05 true TUNG TU P00216075 7036365588 2020-11-05 X 98.169.123.38 2020-11-06 16:48:46 51181820203115efpbtl 2020-11-06 P 3CA2FBC4B8AB4DF5B888458A6F3E82A0049B2843 3CA2FBC4B8AB4DF5B888458A6F3E82A0049B2843 2019 2021-01-29 14:40:06Z 311710 false X WWW.NATIONALACE.ORG X 2013 DC ACE FOUNDATION WAS ESTABLISHED TO IMPROVE THE QUALITY OF LIFE FOR ASIAN AND PACIFIC ISLANDER AMERICANS BY ASSISTING THE ASIAN AMERICAN AND PACIFIC ISLANDER COMMUNITY THROUGH BUSINESS EDUCATION AND TRAINING, RESEARCH, AND COMMUNITY DEVELOPMENT (SEE SCHEDULE O). 8 8 0 0 0 272500 311710 0 0 0 272500 311710 0 0 6633 0 0 11338 293814 322536 300447 322536 -27947 -10826 610703 599695 182 0 610521 599695 ACE FOUNDATION WAS ESTABLISHED TO IMPROVE THE QUALITY OF LIFE FOR ASIAN AND PACIFIC ISLANDER AMERICANS BY ASSISTING THE ASIAN AMERICAN AND PACIFIC ISLANDER COMMUNITY THROUGH BUSINESS EDUCATION AND TRAINING, RESEARCH, AND COMMUNITY DEVELOPMENT (SEE SCHEDULE O). 71198 ACE FOUNDATION EDUCATES IMPORTANT LEGISLATION THAT WILL AFFECT THE AAPI BUSINESS COMMUNITY. WE PARTNER, THROUGH MEMORANDUMS OF UNDERSTANDING, WITH 25 LOCAL AND REGIONAL CHAMBERS TO EDUCATE THEM ON AAPI BUSINESS INTERESTS, GROW A LARGE NUMBER OF AAPI ENTREPRENEURS NATIONWIDE, AND EMPOWER AAPI LEADERS TO ADVANCE IN CORPORATE AMERICA. 71000 ACE FOUNDATION EDUCATES THE NEXT GENERATION OF LEADERS AND ENTREPRENEURS IN THE AAPI COMMUNITY. INNER CIRCLES IS A NATIONAL PROGRAM WHERE YOUNG ENTREPRENEURS CAN DISCUSS AND PROBLEM-SOLVE THE TOUGHEST CHALLENGES THEY FACE. PEERS SHARE PROFESSIONAL AND PERSONAL EXPERIENCES THAT CAN HELP OTHERS LEARN, GROW, OR RECEIVE SUPPORT. THIS INVOLVES CREATING A SAFE AND SUPPORTIVE ENVIRONMENT TO DIVE INTO RISKS, FEARS, AND VULNERABILITIES. THE PROGRAM MAINTAINS A SUPPORT NETWORK OF ENTREPRENEURS AND BUSINESS OWNERS OF AAPI HERITAGE TO ENSURE THAT MORE SMALL-BUSINESS ENTERPRISES SUCCEED IN BUILDING THEIR BUSINESSES, FIND WAYS TO CAPITALIZE THEIR BUSINESSES AND CREATE NEW, SUSTAINABLE JOBS. 71000 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 NATIONS ECONOMIC GROWTH, BUSINESS DEVELOPMENT, AND GOVERNMENT EFFICIENCY BY SUPPORTING PROGRAMS AND POLICIES THAT CREATE MORE AAPI BUSINESS OWNERS, ENTREPRENEURS, AND CORPORATE LEADERS. 71000 ACE FOUNDATION WORKS TO EDUCATE ASIAN AMERICAN AND PACIFIC ISLANDER BUSINESS COMMUNITIES ON ISSUES THAT WILL DIRECTLY IMPROVE THEIR ECONOMIC, POLITICAL, AND SOCIAL WELL-BEING. ACE FOUNDATION HOSTS EVENTS AIMED TO HELP EDUCATE THE MINORITY BUSINESS COMMUNITY. 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. 71000 284198 true true false false false false false false false false false false false false false false true false false false false false false false false false false false false false false false false false false false false false false false false false false true false false false true 0 0 true 0 true false false false false false false false false X 8 8 false false false false false false false true true false false true true true true false false true false false DC X CHILING TONG 2027150787 1300 PENNSYLVANIA AVE STE 700 WASHINGTON DC 20004 X DENNIS HUANG CHAIR 2.00 0.00 X X 0 0 0 HELENE YAN DIRECTOR 1.00 0.00 X 0 0 0 BILL IMADA DIRECTOR 1.00 0.00 X 0 0 0 IAN SO DIRECTOR 1.00 0.00 X 0 0 0 MARTY LORENZO DIRECTOR 1.00 0.00 X 0 0 0 PAT FONG KUSHIDA DIRECTOR 1.00 0.00 X 0 0 0 AMAR SHOKEEN DIRECTOR 1.00 0.00 X 0 0 0 JIMMY FERGUSON DIRECTOR 1.00 0.00 X 0 0 0 0 0 0 0 false false false 311710 311710 311710 0 0 0 198 198 2338 2338 320000 284000 27000 9000 322536 284198 27000 11338 583740 572914 25188 25006 1775 1775 610703 599695 182 182 0 X 610521 599695 610521 599695 610703 599695 -10826 0 X false true X true false X 388950 456500 399250 272500 314750 1831950 388950 456500 399250 272500 314750 1831950 648540 1183410 86 49 135 210 210 1832295 0.64590 0.78390 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED SECURITY DEPOSIT 1775 1775 311710 311710 311710 322536 322536 322536 Form 990 governing body review Part VI line 11 FORM 990 WAS PREPARED BY OUTSIDE ACCOUNTANTS AND REVIEWED BY THE PRESIDENT & CEO AND BOARD OF DIRECTORS BEFORE FILING WITH THE IRS. Conflict of interest policy compliance Part VI line 12c OFFICERS AND DIRECTORS ARE REQUIRED TO ANNUALLY DISCLOSE ANY INTERESTS THAT MAY GIVE RISE TO CONFLICTS. IF A CONFLICT ARISES, THE INTERESTED PERSON RECUSES THEMSELVES FROM DISCUSSION ON THE MATTER. CEO executive director top management comp Part VI line 15a COMPARABILITY DATA WAS USED WHEN DETERMINING THE COMPENSATION OF THE PRESIDENT & CEO. THE DECISION WAS DOCUMENTED IN THE MEETING MINUTES AFTER APPROVAL BY THE EXECUTIVE COMMITTEE. Governing documents etc available to public Part VI line 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. General explanation attachment FORM 990, PART III, LINE 1 - ORGANIZATION MISSION:THE FOUNDATION EXPECTS ITS PROGRAMS TO PROVIDE AN ENVIRONMENT THAT FOSTERS LEADERSHIP AND COMMUNITY DEVELOPMENT, PROMOTES ISSUES THAT ARE RELEVANT TO THE AAPI COMMUNITY, AND BE A MEDIUM TO INCREASE REPRESENTATION OF THE APPI COMMUNITY IN EVERY RESPECT OF AMERICAN LIFE, INCLUDING BUSINESS, POLITICS, AND COMMUNITY INVOLVEMENT, AMONG OTHERS. ASIAN AND PACIFIC ISLANDER AMERICAN 1300 PENNSYLVANIA AVE NW STE 700 WASHINGTON DC 20004 462071116 ADVOCATE OF AAPI BUSINESS INTERESTS DC 501C6 N/A false