TEXAS ACE FUND

WAXAHACHIE, TX | Ellis County
Economic Development
TEXAS ACE FUND
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As of , this nonprofit no longer meets findCRA's qualification requirements and will no longer appear in CQ search results.

Reason for disqualification:

Overview

TEXAS ACE FUND
99-0398515
1671 E HIGHLAND RD
WAXAHACHIE, TX 75167
Ellis County
(972) 576-6248

samuel.fuentes@txacefund.org
Mission Statement info

AT TEXAS ACE FUND, WE ENVISION A TEXAS WHERE OPPORTUNITY THRIVES IN EVERY COMMUNITY. WE FUEL THAT VISION BY PROVIDING CRUCIAL FINANCIAL RESOURCES AND EDUCATION TO NEIGHBORHOOD BUSINESSES GROWING OUR ECONOMIES, BUILDERS AND DEVELOPERS CREATING QUALITY AFFORDABLE HOUSING, AND DIVERSE BUSINESSES DRIVING GOVERNMENT CONTRACTS THAT BUILD THE VERY BONES OF TEXAS INFRASTRUCTURE. WE ARE NOT JUST FINANCIERS; WE ARE ARCHITECTS OF EQUITY, CRAFTING A TAPESTRY OF ECONOMIC INCLUSION ACROSS THE LONE STAR STATE. WE PRIORITIZE LENDING AND BUSINESS FINANCIAL EDUCATION TO BIPOC, VETERAN, WOMAN, LGBTQ+ OWNED BUSINESSES, AND BUSINESSES WHO SERVE LMI NEIGHBORHOODS AND OTHER UNDERSERVED COMMUNITIES, RECOGNIZING THE SYSTEMIC BARRIERS THEY OFTEN FACE. THROUGH DEDICATED CAPITAL AND EXPERT GUIDANCE, WE EMPOWER THESE ENTERPRISES TO FLOURISH, FOSTERING ECONOMIC INCLUSION AND DISMANTLING THE WALLS OF HISTORICAL BIAS. WE ARE COMMITTED TO BUILDING A MORE JUST AND VIBRANT TEXAS, BRICK BY BRICK, CONTRACT BY CONTRACT. TO ENSURE OUR D

CRA Category info
  • Economic Development
Nonprofit location info
  • Majority Minority Census Tract
Awards & Certifications info
  • This nonprofit has not received any CRA awards or certifications.
Founded info
2024
Total Employees info
1
Total Volunteers info
2
Nonprofit Classification (NTEE Code) info
S30

S - Community Improvement, Capacity Building

Economic Development

Organizations whose primary purpose is to stimulate the economy, expand employment opportunities, encourage the establishment and growth of commerce and industry and otherwise enhance the economic development of the community.

IRS Activity Codes info
-
Not reported
-
Not reported
-
Not reported
Standard Business Classification (NAICS Code) info
813410
Civic and Social Organizations
Targeted Clients info
  • Disabled
  • Economically Disadvantaged
  • Entrepreneurs
  • LGBTQ Individuals
  • Military
  • Minority-Owned Businesses
  • Native Americans
  • Small Businesses
  • Underbanked or Unbanked
CRA Income Characteristics info
  • Low-Income
  • Moderate-Income

CRA Alignment

CRA Category info
Economic Development
Workforce development, job training, and small business or startup support.
85%
Percent LMI Served info
as reported by the nonprofit
What does it mean for a nonprofit to be CRA aligned?
Each nonprofit on Community Qualifier has been reviewed by findCRA utilizing a dual evaluation process. Nonprofits are first evaluated by our proprietary algorithm, CRANIA, and then further validated by our CRA experts. When nonprofit passes both parts of this review, we create a nonprofit profile for them on Community Qualifier. From there, a nonprofit can claim their profile and add additional information including their programs & services, counties served, targeted clients and income groups and more.
LOWHIGH
LOWHIGH
LOWHIGH
LOWHIGH
Programs & Services info
Adorable Home Homebuilders
Provide funding for the construction of affordable single family residence.
Targeted Clients info
  • Entrepreneurs
  • First-Time Homebuyers
CRA Income Characteristics info
  • Low-Income
  • Moderate-Income
  • Medicaid Recipients
Government Contractor Mobilization Funds
Provide mobilization funds for minority-owned contractors who win government contracts
Targeted Clients info
  • Entrepreneurs
CRA Income Characteristics info

    Not reported

Awards & Certifications info
Community Development Financial Institution info
Community Development Financial Institution Award Recipient info
New Market Tax Credit Recipient info
HUD Counseling Agency info
Low Income Housing Tax Credit Recipient info

IRS Summary

Income
-
Revenue
-
Assets
-

Not reported by IRS.


The income, revenue, and assets information was not included on this nonprofit's most recent tax filing or the nonprofit has not yet filed its first tax return.

IRS Business Master File Details info

As of March 2025
Exempt Ruling Date info
2024-05
Deductibility Status info
Deductible
Last Tax Filing info
Not required to file by IRS
Organization Type info
Corporation
Organization Tax Filing Status info
990 - Required to file Form 990-N - Income less than $25,000 per year
Foundation Tax Filing Status info
990-PF not required by IRS
Affiliation Classification info
Independent Organization
Basis for Foundation/Public Charity Status info
Organization normally receives no more than one-third of support from gross investment and unrelated business income and at same time more than one-third of its support from contributions, fees and gross receipts related to exempt purposes 509(a)(2)

IRS Publication 78 Details info

As of March 2025
Verified in Publication 78 info
Yes
Deductibility Limitation info
50% (60% for cash contributions)
Organization Description info
A public charity

IRS Form 990 Returns info

Through December 2024
No IRS 990 returns are available for this nonprofit.

Nonprofit Location

Physical Address info
1671 E HIGHLAND RD
WAXAHACHIE, TX 75167
Ellis County
Area Type info
Metropolitan Statistical Area
FIPS Geocoded Address info
19124
MSA/MD info
48
State info
139
County info
0602.15
Tract info
Upper
Income Level info
Core-Based Statistical Area info
19100 - Dallas-Fort Worth-Arlington, TX
Combined Statistical Area info
206 - Dallas-Fort Worth, TX-OK
Metropolitan Division info
19124 - Dallas-Plano-Irving, TX
Located In info
Low- or Moderate-Income Census Tract info
Opportunity Zone info
Majority Minority Census Tract info 55.20%
FFIEC Distressed Census Tract info
FFIEC Underserved Census Tract info
Geographies Served info
  • TX - All Counties

Market Data

Census Tract County
0602.15 Ellis County
Population
Total Population 3,824 203,927
Total Households 1,172 68,852
Income
Median Income* $120,139 $95,898
Median Family Income (2024 FFIEC est.) $110,300 $105,600
Tract Income Percentage 136.03% N/A
Below Poverty Level 1.2% 8.1%
Unemployment Level 4.0% 4.0%
Housing
Total Housing Units 1,282 72,541
Total Owner-Occupied Units 82.8% 76.3%
Total Renter-Occupied Units 8.6% 23.7%
Total Vacant Units 8.6% 4.9%
* Census Tract Median Income based on 2020 Tract Median Family Income as reported in the 2024 FFIEC Census Flat File. County Income based on Median Household Income as reported in the 2023 American Community Survey.
View more than 200 performance context data points for this county now.

Management

Not reported
Total Voting Members
in Governing Body info
Not reported
Independent Voting Members
in Governing Body info
Tax Filing Signatory info
Not reported by nonprofit.
Principal Officer info
Not reported by nonprofit.
findCRA Profile Owner
Samuel Fuentes
CEO
samuel.fuentes@txacefund.org
Key Policies & Documents info
Written Conflict of Interest Policy
Written Document Retention & Destruction Policy
Written Whistleblower Policy
CEO Compensation Review Process
Written Minutes of Board Meetings
Financial Statements & Reporting info
Compiled or Reviewed by an Independent Accountant
Audited by an Independent Accountant
Included in Consolidated Financial Statements
Internal Audit Committee Review
Federal Grant Audit Required
Federal Grand Audit Performed
Organization Activities info
Provides Credit Counseling
Conducts Gaming Activities
Engages in Lobbying Activities
Engages in Political Activities
Makes Grants to Individuals
Makes Grants to Organizations

Information in this section is not available as the nonprofit did not e-file their tax return. As such, the hyphens (“-“) in this section indicate that the information was not available.

PDFs of this nonprofit's tax filings are included in the IRS Summary section above, when available from the IRS.

This Nonprofit Profile was created using data available from publicly available government and industry sources, our own research, and information provided directly the nonprofit organization. Whenever possible, we utilize the most recent information available including information as made public by the Internal Revenue Service, U.S. Census Bureau, Federal Financial Institutions Examination Council, and more. The format and design of this Nonprofit Profile is ©findCRA. For more information about our Nonprofit Profiles, please visit help.findcra.com.