Civic Intelligence

Dace Foundation

990 • Fiscal year 2023 • EIN 38-4116440

Jan 01, 2023 to Dec 31, 2023 • Filed on Jul 12, 2024

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

84th percentile

0.21x

Higher debt load relative to assets than 84% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

85th percentile

0.15x

Higher debt load relative to revenue than 85% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

11th percentile

-43%

Higher net margin than 11% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

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.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

12th percentile

-46%

Faster asset growth than 12% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

73rd percentile

32%

Faster revenue growth than 73% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets84th percentile

Assets

Down

$33,086

Down $27,732 (-46%) from 2022

Net Assets

Down

$26,241

Down $18,412 (-41%) from 2022

Liabilities

Down

$6,845

Down $9,320 (-58%) from 2022

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin11th percentile

Revenue

Up

$44,405

Up $10,854 (+32%) from 2022

Expenses

Up

$63,583

Up $13,722 (+28%) from 2022

Net Income

Down

-$19,178

Down $2,868 (-18%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth12th 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

2023

Assets$33,086
Liabilities$6,845
Net Assets$26,241
Open 2023 Filing

Operations Trend

Revenue Growth73rd 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

2023

Revenue$44,405
Expenses$63,583
Net Income-$19,178
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jul 12, 2024
Return Version
2023v5.0
Gross Receipts
$44,405
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$46,668$29,785▼ $16,883
Cash and Non-Interest-Bearing Accounts$11,402$3,301▼ $8,101
Prepaid Expenses and Deferred Charges$2,748$0▼ $2,748
Total Assets$60,818$33,086▼ $27,732
Liabilities
Accounts Payable and Accrued Expenses$16,165$6,845▼ $9,320
Other Liabilities$0--
Total Liabilities$16,165$6,845▼ $9,320
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$44,653$26,241▼ $18,412
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$44,653$26,241▼ $18,412
Total Liabilities and Net Assets / Fund Balance$60,818$33,086▼ $27,732

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$22,907$43,315$66,222
Equipment$6,878$11,243$18,121
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
Aaron Geraldo De-limaDirector
Daniel PayneDirector
Dennis Mensah SarbahDirector
Frank Justice AttaDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$44,405
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$44,405
Change in Net Assets
$-19,178
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$58,629
Salaries, Compensation, and Employee Benefits$4,954
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion-$16,496-$16,496
Other Expenses$7,000$0$0$7,000
Other Salaries and Wages$4,376$578-$4,954
All Other Expenses$3,680$660-$4,340
Travel$3,321--$3,321
Information Technology-$2,138-$2,138
Total Functional Expenses$42,159$21,424$0$63,583
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

“A copy of the 990 is shared with the member of board for their input”

Form 990, Part VI, Section C, Line 19

“Copies of our governing documents, conflict of interest policy, and financial statements are published on our website.”

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
2024-07-12

Organization Details

Principal Officer
Wilfred Yartey
Formed
2019
Legal Domicile
Md
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
8
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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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IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt044405
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt08
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt060818
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt033086
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt03321
IRS990/TravelGrp/TotalAmt03321
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01918 Regiment Way
IRS990/USAddress/CityNm0Frederick
IRS990/USAddress/StateAbbreviationCd0MD
IRS990/USAddress/ZIPCd021702
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0www.dace-foundation.org
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/PersonNm0Wilfred Yartey
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum02405052439
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-07-12
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/ReturnTs02024-11-01T11:26:37-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$33,086
Liabilities
$6,845
Net assets
$26,241
Revenue
$44,405
Expenses
$63,583
Net income
-$19,178
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
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2023 filings • 501(c)3 • <$500k nonprofits