Ace Charter School
- Assets
- $8.7m
- Revenue
- $20.0m
- Investments
- $0.0
- Employees
- 208
- Location
- San Jose, CA
- Founding
- 01/2009
- Data as of
- 06/2021
- EIN
- 26-1570590
Organization Overview
Ace Charter School is located in San Jose, CA. The organization was established in 2009. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2021, Ace Charter School employed 208 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ace Charter School is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Ace Charter School generated $20.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $17.7m during the year ending 06/2021. While expenses have increased by 2.3% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE PUBLIC CHARTER SCHOOLS AND PROVIDE EDUCATIONAL PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED EDUCATIONAL OPPORTUNITIES TO THE SURROUNDING COMMUNITY. THE SCHOOL SERVED 1,136 STUDENTS IN THE 2020-2021 FISCAL YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gregory Lippman CEO | Officer | 40 | $201,483 |
Nath Mahalingam CFO | Officer | 40 | $177,632 |
Vu Long Trinh Chief Schools Officer | 40 | $158,508 | |
Antonius Widiarto It Manager | 40 | $128,313 | |
Jarrett Poston Principal | 40 | $126,050 | |
Raymond Andrade Principal | 40 | $122,989 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Adriana San Millan School Llc Substitute Teachers | 6/29/19 | $394,754 |
California Choice Inc Administrations | 6/29/19 | $791,677 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $18,559,353 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,425,989 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $19,985,342 |
| Total Program Service Revenue | $0 |
| Investment income | $8,958 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $20,001,670 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $454,834 |
| Compensation of current officers, directors, key employees. | $181,432 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,321,446 |
| Pension plan accruals and contributions | $884,458 |
| Other employee benefits | $878,525 |
| Payroll taxes | $397,720 |
| Fees for services: Management | $113,849 |
| Fees for services: Legal | $56,373 |
| Fees for services: Accounting | $26,367 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $983,179 |
| Advertising and promotion | $72,474 |
| Office expenses | $572,137 |
| Information technology | $407,829 |
| Royalties | $0 |
| Occupancy | $2,016,785 |
| Travel | $26,829 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $97,894 |
| Interest | $17,727 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $79,299 |
| Insurance | $110,252 |
| All other expenses | $0 |
| Total functional expenses | $17,669,013 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,931,724 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,080,388 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $497,075 |
| Net Land, buildings, and equipment | $1,147,457 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,656,644 |
| Accounts payable and accrued expenses | $1,064,723 |
| Grants payable | $0 |
| Deferred revenue | $1,006,407 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $1,240,837 |
| Other liabilities | $1,457,908 |
| Total liabilities | $4,769,875 |
| Net assets without donor restrictions | $3,886,769 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $8,656,644 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Ace Charter School has recieved totaling $55,000.
| Awarding Organization | Amount |
|---|---|
Gray Foundation Cohoes, NY PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION. | $55,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lifelong Learning Administration Corporation Lancaster, CA | $25,266,460 | $53,959,766 |
Wonderful College Prep Academy Delano, CA | $24,794,533 | $50,280,007 |
California Virtual Academies At Los Angeles Simi Valley, CA | $29,684,011 | $46,331,896 |
Cabrillo Point Academy Poway, CA | $23,203,988 | $48,389,829 |
Vaughn Next Century Learning Center San Fernando, CA | $201,824,802 | $53,063,832 |
Pacific Coast Academy Poway, CA | $20,772,611 | $44,078,486 |
Birmingham Community Charter High School Van Nuys, CA | $42,319,173 | $47,098,171 |
Education For Change Oakland, CA | $46,722,136 | $44,379,557 |
Mojave River Academy Schools Oro Grande, CA | $19,432,116 | $42,903,299 |
Isana Los Angeles, CA | $25,748,660 | $48,465,580 |
Legacy Traditional Schools - Nevada Inc Chandler, AZ | $98,471,077 | $39,227,732 |
Fenton Charter Public Schools Sun Valley, CA | $39,044,614 | $44,887,355 |