The Ace Project
- Assets
- $133.8k
- Revenue
- $271.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Westmont, IL
- Founding
- 11/2013
- Data as of
- 12/2021
- EIN
- 37-1710751
Organization Overview
The Ace Project is located in Westmont, IL. The organization was established in 2013. According to its NTEE Classification (N66) the organization is classified as: Racquet Sports, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ace Project 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 Project generated $271.5k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 32.5% each year . All expenses for the organization totaled $223.4k during the year ending 12/2021. While expenses have increased by 19.4% per year over the past 3 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 NURTURE CHILDREN LIVING IN UNDERSERVED COMMUNITIES BY BULDING CHARACTER, CONFIDENCE AND COMPETENCY THROUGH THE SPORT OF TENNIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHICAGO - TO NURTURE CHILDREN LIVING IN UNDERSERVED COMMUNITIES BY BULDING CHARACTER, CONFIDENCE AND COMPETENCY THROUGH THE SPORT OF TENNIS.
BALTIMORE - TO NURTURE CHILDREN LIVING IN UNDERSERVED COMMUNITIES BY BULDING CHARACTER, CONFIDENCE AND COMPETENCY THROUGH THE SPORT OF TENNIS.
DETROIT - TO NURTURE CHILDREN LIVING IN UNDERSERVED COMMUNITIES BY BULDING CHARACTER, CONFIDENCE AND COMPETENCY THROUGH THE SPORT OF TENNIS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew Chicola Dir Of Philanth | Officer | 20 | $42,111 |
Susan Klumpner Executive Dir | Officer | 20 | $24,583 |
Shalonda Randle Secretary | Trustee | 1 | $0 |
Anne Mache Treasurer | Trustee | 1 | $0 |
Grace Phillip Board Member | Trustee | 3 | $0 |
Jeanne Washington Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $50,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $221,510 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $271,510 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $271,510 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $800 |
| 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. | $66,694 |
| Compensation of current officers, directors, key employees. | $7,624 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,271 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,415 |
| Office expenses | $8,726 |
| Information technology | $3,187 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,153 |
| All other expenses | $610 |
| Total functional expenses | $223,386 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $69,259 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $64,565 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $133,824 |
| Accounts payable and accrued expenses | $1,500 |
| Grants payable | $0 |
| 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 | $0 |
| Total liabilities | $1,500 |
| Net assets without donor restrictions | $132,324 |
| 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 | $133,824 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that The Ace Project has recieved totaling $92,605.
| Awarding Organization | Amount |
|---|---|
Usta Foundation Incorporated White Plains, NY | | $66,000 |
Laureus Sport For Good Foundation Of America New York, NY PURPOSE: GENERAL SUPPORT | $10,000 |
Usta Midwest Tennis & Education Foundation Inc Indianapolis, IN PURPOSE: Program Grant | $6,500 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $6,340 |
Jp Morgan Chase Foundation New York, NY PURPOSE: GENERAL OPERATING SUPPORT | $3,765 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Xs Tennis And Education Foundation Chicago, IL | $22,017,905 | $4,505,523 |
Metro Squash Nfp Chicago, IL | $13,154,185 | $4,902,892 |
River Forest Tennis Club River Forest, IL | $2,416,575 | $1,463,446 |
Boone County Tennis Center Zionsville, IN | $3,917,411 | $1,573,945 |
Tennaqua Deerfield, IL | $1,804,335 | $1,223,012 |
Kentucky Tennis Association Inc Louisville, KY | $961,107 | $1,035,395 |
Fox Cities Racquet Club Inc Appleton, WI | $1,857,342 | $780,069 |
Jasper Tennis Patrons Organization Inc Jasper, IN | $88,945 | $383,311 |
Tennis Industry Association Chicago, IL | $170,386 | $691,025 |
Evansville Area Tennis Patrons Foundation Inc Evansville, IN | $2,596,452 | $756,598 |
Usta Midwest Tennis & Education Foundation Inc Indianapolis, IN | $4,160,822 | $390,633 |
United States Tennis Association Inc Chicago, IL | $443,514 | $543,380 |