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Ace Foundation Inc. is a private corporation based in BROOKLYN, NY. The foundation received its IRS ruling in 1995. It holds total assets of $18.5M. Annual income is reported at $536K. The foundation is governed by 2 officers and trustees. The foundation operates in the area of philanthropy & grantmaking. According to its most recent filing, the foundation only makes contributions to preselected charitable organizations. Tax records are available from 2015 to 2023. According to available records, Ace Foundation Inc. has made 3 grants totaling $7.4M, with a median grant of $2.9M. Annual giving has decreased from $2.9M in 2021 to $1.2M in 2023. Grantmaking activity was highest in 2022 with $3.2M distributed across 1 grants. Individual grants have ranged from $1.2M to $3.2M, with an average award of $2.5M. The foundation has supported 2 unique organizations. Grant recipients are concentrated in New York. Contributions to this foundation are tax-deductible.
No program descriptions are available for this foundation. Many private foundations report program activities in their annual 990-PF filings — check the Tax Filings section below for the most recent filing.
Ace Foundation Inc. primarily funds organizations in the area of philanthropy & grantmaking. Based on available records, the foundation has funded 3 grants. Its grantmaking reaches organizations primarily in NY.
Ace Foundation Inc. has distributed a total of $7.4M across 3 grants. The median grant size is $2.9M, with an average of $2.5M. Individual grants have ranged from $1.2M to $3.2M.
Ace Foundation Inc. typically selects its grantees rather than accepting unsolicited proposals.
Ace Foundation Inc. is headquartered in BROOKLYN, NY.
| Name | Title | Compensation | Benefits | Total |
|---|---|---|---|---|
| Aaron Elbogen | President | $0 | $0 | N/A |
| Chaya Elbogen | Vice Pres. | $0 | $0 | N/A |
Total Giving
$1.2M
Total Assets
$18.8M
Fair Market Value
$18.7M
Net Worth
$18.8M
Grants Paid
$1.2M
Contributions
$300K
Net Investment Income
$35K
Distribution Amount
$947K
Total: $137K
Total Grants
3
Total Giving
$7.4M
Average Grant
$2.5M
Median Grant
$2.9M
Unique Recipients
2
Most Common Grant
$1.2M
of 2023 grantees were first-time recipients
| Recipient | Location | Amount | Year |
|---|---|---|---|
| Statement 7General Operating Budget | Brooklyn, NY | $1.2M | 2023 |
| Statement 9General Operating Budget | Brooklyn, NY | $3.2M | 2022 |