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← ASHESI UNIVERSITY FOUNDATION CANADA

Form 990 for tax year 2023

Filed by ASHESI UNIVERSITY FOUNDATION CANADA.

Totals

Total revenue
$5,803,889
Total expenses
$6,317,258
Contributions and grants received
$0
Grants paid
$5,429,550
Program service revenue
$0
Investment income
$5,803,889
Other revenue
$0
Total assets, end of year
$264,288,730
Total liabilities, end of year
$34,144
Net assets or fund balances, end of year
$264,254,586
Program services expenses (Part IX)
$5,429,550
Management and general expenses
$887,708
Fundraising expenses
$0
Program service expenses (Part III)
$5,429,550

Program services were 85.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 3 · Investment income

    total $2,877,059 · unrelated business $2,877,059

  • 7a · Gross sales of assets other than inventory

    securities $2,926,830

  • 7b · Less cost or other basis and sales expenses

    securities $0

  • 7c · Gain or loss

    securities $2,926,830

  • 7d · Net gain or loss

    total $2,926,830 · unrelated business $2,926,830

Functional expenses

Part IX, the statement of functional expenses.

  • 3 · Grants to foreign organizations and individuals

    total $5,429,550 · program services $5,429,550

  • 6 · Compensation of disqualified persons

    total $157,634 · management and general $157,634

  • 11f · Fees: investment management

    total $584,311 · management and general $584,311

  • 11g · Fees: other

    total $68,215 · management and general $68,215

  • 13 · Office expenses

    total $77,548 · management and general $77,548

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $117,326 · end of year $896,173

  • 9 · Prepaid expenses and deferred charges

    end of year $1,290

  • 12 · Investments: other securities

    beginning of year $246,325,157 · end of year $263,383,240

  • 15 · Other assets

    beginning of year $5,527 · end of year $8,027

  • 17 · Accounts payable and accrued expenses

    beginning of year $31,877 · end of year $27,308

  • 25 · Other liabilities

    beginning of year $24,708 · end of year $6,836

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $246,391,425 · end of year $264,254,586

Mission and programs · 2023

Mission

THE FOUNDATION'S MISSION IS TO PROVIDE ASSISTANCE TO STUDENTS TO ATTEND POST-SECONDARY EDUCATION INSTITUTIONS AND AWARDS TO POST-SECONDARY STUDENTS AND GRADUATES TO ENCOURAGE ACADEMIC EXCELLENCE IN AFRICA.

Activities or mission (Part I)

THE FOUNDATION WAS ENGAGED IN PLANNING ITS EDUCATIONAL ACTIVITIES, INCLUDING CONFERENCE AND WORKSHOPS ON POST-SECONDARY EDUCATION IN AFRICA, AND SCHOLARSHIPS FOR POST-SECONDARY STUDENTS IN AFRICA. THE FOUNDATION INITIATED ITS FIRST SERIES OF SCHOLARSHIPS TO POST-SECONDARY STUDENTS IN AFRICA THIS YEAR.

  • PROVIDING FINANCIAL ASSISTANCE/SCHOLARSHIP/FELLOWSHIP TO POST-SECONDARY STUDENDS IN ASHESI UNIVERSITY LBG IN GHANA.

    Expenses $5,429,550 · Grants $5,429,550

As filed on the 2023 return.

Listed in Part VII

  • Emer Dooley

    BOARD SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Paul Fieguth

    BOARD DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Mateko Azu

    BOARD DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Patrick Awuah

    BOARD CHAIR

    Total calculated
    $100,000
    From this org
    $0
    From related orgs
    $100,000
    Other
    $0
    Hours/week
    1

  • Aissatou Diajhate

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Christopher Glover

    DIRECTOR

    Total calculated
    $101,504
    From this org
    $101,504
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Meredith Lee

    EXECUTIVE DIRECTOR

    Total calculated
    $115,581
    From this org
    $115,581
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • ASHESHI UNIVERSITY FOUNDATION

    501(C)(3) · TO PROVIDE SUPPORT FOR EDUCATIONAL OPPORTUNITIES IN GHANA · WA

  • ASHESHI UNIVERSITY

    FOREIGN NON PROFIT · UNIVERSITY · GH

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.1
Source object
202433179349305458

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