Civic Intelligence

Dace Foundation

990 • Fiscal year 2022 • EIN 38-4116440

Jan 01, 2022 to Dec 31, 2022 • Filed on Aug 25, 2023

Organization Profilewww.dace-foundation.org
1918 Regiment WayFrederick, MD 21702

(240) 505-2439

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

86th percentile

0.27x

Higher debt load relative to assets than 86% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

92nd percentile

0.48x

Higher debt load relative to revenue than 92% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

10th percentile

-49%

Higher net margin than 10% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Asset Growth

14th percentile

-34%

Faster asset growth than 14% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

9th percentile

-59%

Faster revenue growth than 9% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets86th percentile

Assets

Down

$60,818

Down $31,957 (-34%) from 2021

Net Assets

Down

$44,653

Down $23,219 (-34%) from 2021

Liabilities

Down

$16,165

Down $8,738 (-35%) from 2021

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin10th percentile

Revenue

Down

$33,551

Down $48,062 (-59%) from 2021

Expenses

Up

$49,861

Up $22,216 (+80%) from 2021

Net Income

Down

-$16,310

Down $70,278 (-130%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth14th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$100K$50K$0Assets 2021: $92,775Liabilities 2021: $24,903Net Assets 2021: $67,8722021Assets 2022: $60,818Liabilities 2022: $16,165Net Assets 2022: $44,6532022Assets 2023: $33,086Liabilities 2023: $6,845Net Assets 2023: $26,2412023Assets 2024: $21,752Liabilities 2024: $10,803Net Assets 2024: $10,9492024

Highlighted filing

2022

Assets$60,818
Liabilities$16,165
Net Assets$44,653
Open 2022 Filing

Operations Trend

Revenue Growth9th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$100K$50K$0-$50KRevenue 2021: $81,613Expenses 2021: $27,645Net Income 2021: $53,9682021Revenue 2022: $33,551Expenses 2022: $49,861Net Income 2022: -$16,3102022Revenue 2023: $44,405Expenses 2023: $63,583Net Income 2023: -$19,1782023Revenue 2024: $51,859Expenses 2024: $67,151Net Income 2024: -$15,2922024

Highlighted filing

2022

Revenue$33,551
Expenses$49,861
Net Income-$16,310
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Aug 25, 2023
Return Version
2022v5.0
Gross Receipts
$33,551
Mission and Program Overview

Mission

Dace provides financial, educational and social support to students from underserved areas in Ghana.

Dace foundation provides financial, educational and social support to students from underserved areas in Ghana. Through our programs, Dace has been able to put students to some of the best schools and universities in Ghana, and we are continuously adding more students to our programs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$62,418$46,668▼ $15,750
Cash and Non-Interest-Bearing Accounts$8,726$11,402▲ $2,676
Prepaid Expenses and Deferred Charges-$2,748-
Pledges and Grants Receivable$2,675--
Total Assets$74,385$60,818▼ $13,567
Other Assets Total$566--
Liabilities
Accounts Payable and Accrued Expenses$13,422$16,165▲ $2,743
Other Liabilities-$0-
Total Liabilities$13,422$16,165▲ $2,743
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$60,963$44,653▼ $16,310
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$60,963$44,653▼ $16,310
Total Liabilities and Net Assets / Fund Balance$74,385$60,818▼ $13,567

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$36,819$15,026$51,845
Other Land Buildings$9,849$680$10,529
Buildings$0$0$0
Land$0-$0
Leasehold Improvements$0$0$0
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
Wilfred YarteyPresident and CEO
Aaron Geraldo De-limaDirector
Daniel PayneDirector
Dennis Mensah SarbahDirector
Frank Justice AttaDirector
Ransford Mensah SarbahDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$33,551
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$33,551
Change in Net Assets
$-16,310
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$42,575
Salaries, Compensation, and Employee Benefits$7,286
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion-$17,609-$17,609
Other Salaries and Wages$6,527$759-$7,286
Travel$4,716--$4,716
Other Expenses$1,957$1,409$0$3,366
Information Technology-$1,162-$1,162
Office Expenses-$777-$777
Total Functional Expenses$26,550$23,311$0$49,861
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“Dace do not have a formal process to review 990”

Form 990, Part VI, Section C, Line 19

“Dace foundation publishes its 990 and all other relevant corporate documents on its website: https://dace-foundation.org/annual-reports-corporate-documents/”

Filing and Contact Details

Filer

Filer Name
Dace Foundation
EIN
38-4116440
Phone
2405052439
Address
1918 Regiment Way, Frederick, MD 21702

Signing Officer

Name
Wilfred Yartey
Title
President
Phone
2405052439
Signed
2023-08-25

Organization Details

Principal Officer
Wilfred Yartey
Formed
2019
Legal Domicile
Md
Voting Board Members
5
Independent Board Members
0
Employees
0
Volunteers
8
Raw XML Appendix366 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Dace do not have a formal process to review 990
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Dace foundation publishes its 990 and all other relevant corporate documents on its website: https://dace-foundation.org/annual-reports-corporate-documents/
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
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IRS990/TotalProgramServiceExpensesAmt026550
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt033551
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt08
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt074385
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt060818
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt04716
IRS990/TravelGrp/TotalAmt04716
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/USAddress/AddressLine1Txt01918 Regiment Way
IRS990/USAddress/CityNm0Frederick
IRS990/USAddress/StateAbbreviationCd0MD
IRS990/USAddress/ZIPCd021702
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0www.dace-foundation.org
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL2
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/LastSubmissionRqrOOBCd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/OOBSecurityVerificationCd011
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd01
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0Wilfred Yartey
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum02405052439
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-08-25
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0DACE FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0DACE
ReturnHeader/Filer/EIN0384116440
ReturnHeader/Filer/PhoneNum02405052439
ReturnHeader/Filer/USAddress/AddressLine1Txt01918 Regiment Way
ReturnHeader/Filer/USAddress/CityNm0Frederick
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MD
ReturnHeader/Filer/USAddress/ZIPCd021702
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/ReturnTs02023-08-28T10:38:39-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$60,818
Liabilities
$16,165
Net assets
$44,653
Revenue
$33,551
Expenses
$49,861
Net income
-$16,310
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$21.8$10.8$10.9$51.9$67.2$15.3
2023Detailed filing. Detailed filing data is available for this year.$33.1$6.85$26.2$44.4$63.6$19.2
2022Detailed filing. Detailed filing data is available for this year.$60.8$16.2$44.7$33.6$49.9$16.3
2021Detailed filing. Detailed filing data is available for this year.$92.8$24.9$67.9$81.6$27.6$54.0