Nonprofit · EIN 46-3200311
ACE FOUNDATION
Tax-exempt · WASHINGTON, DC 20004
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $2,114,265 | $1,946,901 | $167,364 | $3,478,722 | $312,015 | $3,166,707 |
| December 31, 2024 | 990 | $3,207,046 | $2,300,807 | $906,239 | $3,366,612 | $367,269 | $2,999,343 |
| December 31, 2023 | 990 | $2,565,208 | $2,233,333 | $331,875 | $2,452,433 | $353,996 | $2,098,437 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $2,016,989
- Program service revenue
- $18,100
- Investment income
- $79,176
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $580,000
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $3,296
- Travel
- $35,000
- Program services (functional)
- $1,477,170
- Management and general (functional)
- $469,731
Balance sheet and other
- Total assets, start of year
- $3,366,612
- Total assets, end of year
- $3,478,722
- Total liabilities, end of year
- $312,015
- Net assets, end of year
- $3,166,707
- Publicly traded securities
- $2,435,087
- Net assets without donor restrictions
- $2,751,707
- Net assets with donor restrictions
- $415,000
- Gross receipts
- $2,114,265
- Employees
- 0
- Volunteers
- 15
- Year formed
- 2013
- State of legal domicile
- DC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JIMMY FERGUSON | CHAIR Trustee or director, Officer | 2 | $0 |
| BIN YU | DIRECTOR (THRU MAY); TREASURER Trustee or director, Officer | 2 | $0 |
| ANGELA CHANG | DIRECTOR Trustee or director | 1 | $0 |
| CY CHEN | DIRECTOR Trustee or director | 1 | $0 |
| MELODY CHEN | DIRECTOR Trustee or director | 1 | $0 |
| KEVIN CHOW | DIRECTOR Trustee or director | 1 | $0 |
| SUSAN JIN DAVIS | DIRECTOR Trustee or director | 1 | $0 |
| TAMMY FUNASAKI | DIRECTOR Trustee or director | 1 | $0 |
| DENNIS HUANG | DIRECTOR Trustee or director | 1 | $0 |
| BILL IMADA | DIRECTOR Trustee or director | 1 | $0 |
| NARUMI INATSUGU | DIRECTOR Trustee or director | 1 | $0 |
| SHAU-WAI LAM | DIRECTOR Trustee or director | 1 | $0 |
| MICHAEL TY | DIRECTOR Trustee or director | 1 | $0 |
| FA'AMOANA UTA'I | DIRECTOR (THRU MARCH) Trustee or director | 1 | $0 |
| TIANYI ZHU | DIRECTOR Trustee or director | 1 | $0 |
1 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| CHILING TONG | PRESIDENT AND CEO Officer | 2 | $0 |
990 for the year ended December 31, 2024: 18 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KAREN ENG | CHAIR Trustee or director, Officer | 2 | $0 |
| JIMMY FERGUSON | VICE CHAIR Trustee or director, Officer | 2 | $0 |
| TRACEY DOI | TREASURER Trustee or director, Officer | 2 | $0 |
| AMIT BHATNAGAR | SECRETARY (THROUGH JANUARY) Trustee or director, Officer | 2 | $0 |
| CY CHEN | DIRECTOR Trustee or director | 1 | $0 |
| MELODY CHEN | DIRECTOR Trustee or director | 1 | $0 |
| SUSAN JIN DAVIS | DIRECTOR Trustee or director | 1 | $0 |
| TAMMY FUNASAKI | DIRECTOR Trustee or director | 1 | $0 |
| DENNIS HUANG | DIRECTOR Trustee or director | 1 | $0 |
| BILL IMADA | DIRECTOR Trustee or director | 1 | $0 |
| NARUMI INATSUGU | DIRECTOR Trustee or director | 1 | $0 |
| CHEWY JANG | DIRECTOR (THROUGH JANUARY) Trustee or director | 1 | $0 |
| SHAU-WAI LAM | DIRECTOR Trustee or director | 1 | $0 |
| MARTY LORENZO | DIRECTOR (THROUGH JANUARY) Trustee or director | 1 | $0 |
| IAN SO | DIRECTOR (THROUGH JANUARY) Trustee or director | 1 | $0 |
| FA'AMOANA UTA'I | DIRECTOR Trustee or director | 1 | $0 |
| BIN YU | DIRECTOR Trustee or director | 1 | $0 |
| CHILING TONG | PRESIDENT AND CEO Officer | 2 | $0 |
990 for the year ended December 31, 2023: 15 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KAREN ENG | CHAIR Trustee or director, Officer | 2 | $0 |
| JIMMY FERGUSON | VICE CHAIR Trustee or director, Officer | 2 | $0 |
| TRACEY DOI | TREASURER Trustee or director, Officer | 2 | $0 |
| AMIT BHATNAGAR | SECRETARY Trustee or director, Officer | 2 | $0 |
| MARIKO CARPENTER | DIRECTOR (FROM JUNE THRU DEC 2023) Trustee or director | 1 | $0 |
| CY CHEN | DIRECTOR Trustee or director | 1 | $0 |
| TAMMY FUNASAKI | DIRECTOR (AS OF OCT 2023) Trustee or director | 1 | $0 |
| DENNIS HUANG | DIRECTOR Trustee or director | 1 | $0 |
| BILL IMADA | DIRECTOR Trustee or director | 1 | $0 |
| CHEWY JANG | DIRECTOR Trustee or director | 1 | $0 |
| SHAU-WAI LAM | DIRECTOR Trustee or director | 1 | $0 |
| MARTY LORENZO | DIRECTOR Trustee or director | 1 | $0 |
| IAN SO | DIRECTOR Trustee or director | 1 | $0 |
| BIN YU | DIRECTOR Trustee or director | 1 | $0 |
| CHILING TONG | PRESIDENT AND CEO Officer | 2 | $0 |
Address and contacts
- Address (IRS master file)
- 1455 PENNSYLVANIA AVE NW STE 400, WASHINGTON, DC 20004-1017
- Principal officer (990 for 2025)
- CHILING TONG, 1455 PENNSYLVANIA AVENUE NW 400, WASHINGTON, DC 20004
- Signed the 990
- CHILING TONG, PRESIDENT AND CEO
- Phone
- (202) 627-6889
- Return prepared by
- HAN GROUP LLC
Mission
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.
Program accomplishments
- EDUCATION - ACE FOUNDATION WORKS TO EDUCATE 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 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.Expenses $503,643 · grants $47,500
- ECONOMIC DEVELOPMENT - ACE FOUNDATION EDUCATES LOCAL AND REGIONAL 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.Expenses $488,527 · grants $47,500
- SMALL BUSINESS PRIORITY - SMALL BUSINESS 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 SMALL BUSINESS PRIORITY 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.Expenses $485,000 · grants $485,000 · revenue $18,100
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 46-3200311
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2014
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Human services (P20)
- Assets (IRS master file)
- $3,478,722
- Income (IRS master file)
- $2,114,265
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $2,114,265 | $1,946,901 | $3,478,722 | XML |
| 990 | December 2024 | $3,207,046 | $2,300,807 | $3,366,612 | XML |
| 990 | December 2023 | $2,565,208 | $2,233,333 | $2,452,433 | XML |
| 990 | December 2022 | $4,126,452 | $4,379,062 | $2,162,590 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 46-3200311).
Questions about ACE FOUNDATION
- What is the EIN of ACE FOUNDATION?
- The employer identification number (EIN) of ACE FOUNDATION is 46-3200311.
- Is ACE FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2014.
- Are donations to ACE FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does ACE FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of ACE FOUNDATION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did ACE FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of ACE FOUNDATION?
- The 990 for the year ended December 31, 2025 names CHILING TONG.
- Who are the officers and directors of ACE FOUNDATION?
- The 990 for the year ended December 31, 2025 lists 16 people; 0 received compensation from the organization.
- How much revenue does ACE FOUNDATION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $2,114,265, expenses of $1,946,901 and total assets of $3,478,722 at year end.
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