Alliance For Choice In Education
- Assets
- $60.2m
- Revenue
- $34.0m
- Investments
- $0.0
- Employees
- 47
- Location
- Greenwood Village, CO
- Founding
- 08/2000
- Data as of
- 12/2021
- EIN
- 84-1531066
Organization Overview
Alliance For Choice In Education, operating under the name Ace Scholarships, is located in Greenwood Village, CO. The organization was established in 2000. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 12/2021, Ace Scholarships employed 47 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ace Scholarships 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 12/2021, Ace Scholarships generated $34.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.5% each year . All expenses for the organization totaled $27.3m during the year ending 12/2021. While expenses have increased by 16.8% per year over the past 7 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.
Since 2014, Ace Scholarships has awarded 21 individual grants totaling $1,253,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S MISSION IS TO PROVIDE LOW-INCOME FAMILIES WITH THE POWER OF EDUCATION CHOICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACE ADMINISTERS TWO SCHOLARSHIP PROGRAMS: A PRIVATELY FUNDED PROGRAM IN COLORADO, MONTANA, KANSAS, TEXAS, WYOMING, ARKANSAS, AND MISSOURI, AND A TAX-CREDIT SCHOLARSHIP PROGRAM IN LOUISIANA AND KANSAS (SGO). ACE'S PRIVATE PROGRAM AWARDS SCHOLARSHIPS TO CHILDREN FROM LOW-INCOME FAMILIES WANTING PRIVATE SCHOOLING FROM KINDERGARTEN TO HIGH SCHOOL. LOW-INCOME IS DEFINED IN ACCORDANCE WITH THE FEDERAL POVERTY GUIDELINES. POLICIES AND PROCEDURES ADMINISTERING THE PRIVATE SCHOLARSHIP PROGRAM ARE REVIEWED AND APPROVED BY THE ACE PROGRAM COMMITTEE. CONTINUED ON SCHEDULE O.ACE ALSO SERVES AS A STATE-APPROVED SCHOOL TUITION ORGANIZATION IN THE LOUISIANA TUITION DONATION TAX CREDIT PROGRAM AND AWARDS SCHOLARSHIPS TO QUALIFIED STUDENTS IN ADHERENCE TO STATE STATUTES AND RULES AND REGULATIONS PUBLISHED BY THE LOUISIANA DEPARTMENT OF EDUCATION.ACE IS ALSO REGISTERED AS A SCHOLARSHIP GRANTING ORGANIZATION (SGO) WITHIN KANSAS' TAX CREDIT PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joe Smith Chairman | OfficerTrustee | 1 | $0 |
Tom Zanecchia Treasurer | OfficerTrustee | 1 | $0 |
Lindsay Brown Director | Trustee | 1 | $0 |
Lisa Walsh Vice Chairman (beg. 10/2021) | OfficerTrustee | 1 | $0 |
Jerry Sommer Director | Trustee | 1 | $0 |
Alex Cranberg Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Westmeath Global Communications Marketing | 12/30/21 | $147,052 |
Pin Business Network Marketing | 12/30/21 | $140,500 |
Rogue Productions Marketing | 12/30/21 | $100,375 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $3,846,446 |
| Related organizations | $0 |
| Government grants | $625,300 |
| All other contributions, gifts, grants, and similar amounts not included above | $29,799,309 |
| Noncash contributions included in lines 1a–1f | $515,103 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $34,271,055 |
| Total Program Service Revenue | $0 |
| Investment income | $69,124 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$313,977 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $34,038,450 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $608,480 |
| Grants and other assistance to domestic individuals. | $19,099,847 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,115,142 |
| Compensation of current officers, directors, key employees. | $371,991 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,454,759 |
| Pension plan accruals and contributions | $95,077 |
| Other employee benefits | $414,265 |
| Payroll taxes | $218,604 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $100,527 |
| Fees for services: Accounting | $56,225 |
| Fees for services: Lobbying | $324,080 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,770 |
| Fees for services: Other | $480,364 |
| Advertising and promotion | $1,453,388 |
| Office expenses | $156,702 |
| Information technology | $197,992 |
| Royalties | $0 |
| Occupancy | $130,769 |
| Travel | $145,990 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $25,638 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $29,655 |
| Insurance | $24,172 |
| All other expenses | $143,325 |
| Total functional expenses | $27,320,020 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,049,546 |
| Savings and temporary cash investments | $39,861,724 |
| Pledges and grants receivable | $12,853,852 |
| Accounts receivable, net | $0 |
| 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 | $262,719 |
| Net Land, buildings, and equipment | $106,376 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $115,655 |
| Total assets | $60,249,872 |
| Accounts payable and accrued expenses | $676,393 |
| Grants payable | $8,650,057 |
| Deferred revenue | $0 |
| 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 | $0 |
| Other liabilities | $138,913 |
| Total liabilities | $9,465,363 |
| Net assets without donor restrictions | $5,667,567 |
| Net assets with donor restrictions | $45,116,942 |
| 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 | $60,249,872 |
Grants Awarded
Over the last fiscal year, Alliance For Choice In Education has awarded $598,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
ST LABRE NATIVE AMERICAN SCHOOL PURPOSE: ST. LABRE PRESCHOOL AT LAME DEER | $80,000 |
FOSTER'S OUTRIDERS FOUNDATION PURPOSE: DONATION | $10,000 |
CENTRAL DENVER CLASSICAL HIGH SCHOOL PURPOSE: SCHOOL ASSISTANCE | $250,000 |
BISHOP MACHEBEUF HIGH SCHOOL PURPOSE: SCHOOL ASSISTANCE | $250,000 |
ROCKHURST HIGH SCHOOL PURPOSE: SCHOOL ASSISTANCE | $8,000 |