Ace Group Foundation Inc
- Assets
- $9.2k
- Revenue
- $15.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Lexington Park, MD
- Founding
- 01/2020
- Data as of
- 12/2022
- EIN
- 83-4631866
Organization Overview
Ace Group Foundation Inc is located in Lexington Park, MD. The organization was established in 2020. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ace Group Foundation Inc 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 12/2022, Ace Group Foundation Inc generated $15.0k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 34.4% each year . All expenses for the organization totaled $9.9k during the year ending 12/2022. While expenses have increased by 19.4% per year over the past 4 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Mcnellis Chairman/president | 0.1 | $0 | |
Thomas Dunn Vice Chairman/vice President | 0.1 | $0 | |
Jodi Stanalonis Treasurer | 0.1 | $0 | |
Erin Emery Secretary | 0.1 | $0 | |
Stanley W Salamon Director | 0.1 | $0 | |
Joseph Gardiner Director | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $15,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $15,000 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $388 |
| Total operating and administrative expenses | $388 |
| Contributions, gifts, grants paid | $9,500 |
| Total expenses and disbursements | $9,888 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,245 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $9,245 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Ace Group Foundation Inc has awarded $9,500 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
LEONARD HALL JUNIOR NAVAL ACADEMY PURPOSE: TO SUPPORT NAVAL ACADEMY MISSION | $1,000 |
PROJECT OPPORTUNITY PURPOSE: TO SUPPORT TRADITIONAL EMPLOYMENT FOR VETERANS AND TO COMBAT THE HIGH VETERAN UNEMPLOYMENT RATE WITHIN THE STATE OF MARYLAND | $2,000 |
SHOP WITH A COP INC PURPOSE: TO SUPPORT CHRISTMAS SHOPPING SPREE FUND FOR UNDERPRIVILEGED CHILDREN | $1,500 |
AVA GROUP PURPOSE: TO SUPPORT ASSISTANCE FOR VETERANS AND THEIR FAMILIES | $2,000 |
TAILHOOK EDUCATION FOUNDATION PURPOSE: TO SUPPORT SCHOLARSHIP PROGRAMS | $3,000 |