Civic Intelligence

Ashesi University Foundation

990 • Fiscal year 2022 • EIN 91-1997089

Jan 01, 2022 to Dec 31, 2022 • Filed on Oct 02, 2023

Organization ProfileWWW.ASHESI.ORG

View Organization Page

1201 3rd Ave 2200Seattle, WA 98101

(206) 545-6988

Siviq Scores

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

Liabilities / Assets

62nd percentile

0.29x

Higher debt load relative to assets than 62% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

75th percentile

0.72x

Higher debt load relative to revenue than 75% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Net Margin

85th percentile

42%

Higher net margin than 85% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

43rd percentile

$156,162

Higher top officer pay than 43% of similar nonprofits.

Top officer pay equals 2.5% of source-year revenue.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Asset Growth

80th percentile

20%

Faster asset growth than 80% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

86th percentile

50%

Faster revenue growth than 86% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets62nd percentile

Assets

Up

$15,361,175

Up $2,578,733 (+20%) from 2021

Net Assets

Up

$10,879,829

Up $2,051,470 (+23%) from 2021

Liabilities

Up

$4,481,346

Up $527,263 (+13%) from 2021

Revenue And Expenses
Liabilities / Revenue75th percentileNet Margin85th percentile

Revenue

Up

$6,199,311

Up $2,054,292 (+50%) from 2021

Expenses

Down

$3,619,585

Down $970,299 (-21%) from 2021

Net Income

Up

$2,579,726

Up $3,024,591 (+680%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth80th percentile

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

$30M$20M$10M$0Assets 2010: $1,664,791Liabilities 2010: $990Net Assets 2010: $1,663,8012010Assets 2011: $2,330,692Liabilities 2011: $5,210Net Assets 2011: $2,325,4822011Assets 2012: $3,105,311Liabilities 2012: $4,904Net Assets 2012: $3,100,4072012Assets 2013: $4,765,842Liabilities 2013: $192,549Net Assets 2013: $4,573,2932013Assets 2014: $5,495,723Liabilities 2014: $879,217Net Assets 2014: $4,616,5062014Assets 2015: $7,704,445Liabilities 2015: $1,308,214Net Assets 2015: $6,396,2312015Assets 2016: $9,207,012Liabilities 2016: $1,330,048Net Assets 2016: $7,876,9642016Assets 2017: $8,767,536Liabilities 2017: $1,303,073Net Assets 2017: $7,464,4632017Assets 2018: $8,502,745Liabilities 2018: $1,534,812Net Assets 2018: $6,967,9332018Assets 2019: $8,732,313Liabilities 2019: $1,107,162Net Assets 2019: $7,625,1512019Assets 2020: $10,242,693Liabilities 2020: $1,098,607Net Assets 2020: $9,144,0862020Assets 2021: $12,782,442Liabilities 2021: $3,954,083Net Assets 2021: $8,828,3592021Assets 2022: $15,361,175Liabilities 2022: $4,481,346Net Assets 2022: $10,879,8292022Assets 2023: $25,893,420Liabilities 2023: $5,931,545Net Assets 2023: $19,961,8752023Assets 2024: $29,324,742Liabilities 2024: $8,018,591Net Assets 2024: $21,306,1512024

Highlighted filing

2022

Assets$15,361,175
Liabilities$4,481,346
Net Assets$10,879,829
Open 2022 Filing

Operations Trend

Revenue Growth86th percentile

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

$15M$10M$5.0M$0-$5.0MExpenses 2010: $1,741,4162010Expenses 2011: $1,804,0412011Revenue 2012: $1,779,919Expenses 2012: $1,042,731Net Income 2012: $737,1882012Revenue 2013: $3,790,656Expenses 2013: $2,248,187Net Income 2013: $1,542,4692013Revenue 2014: $2,840,765Expenses 2014: $2,746,036Net Income 2014: $94,7292014Revenue 2015: $3,531,647Expenses 2015: $1,741,068Net Income 2015: $1,790,5792015Revenue 2016: $4,834,538Expenses 2016: $3,359,616Net Income 2016: $1,474,9222016Revenue 2017: $4,641,435Expenses 2017: $5,095,471Net Income 2017: -$454,0362017Revenue 2018: $2,867,579Expenses 2018: $3,305,515Net Income 2018: -$437,9362018Revenue 2019: $3,177,995Expenses 2019: $2,633,567Net Income 2019: $544,4282019Revenue 2020: $5,135,684Expenses 2020: $3,762,808Net Income 2020: $1,372,8762020Revenue 2021: $4,145,019Expenses 2021: $4,589,884Net Income 2021: -$444,8652021Revenue 2022: $6,199,311Expenses 2022: $3,619,585Net Income 2022: $2,579,7262022Revenue 2023: $13,838,904Expenses 2023: $5,292,487Net Income 2023: $8,546,4172023Revenue 2024: $6,026,436Expenses 2024: $5,183,102Net Income 2024: $843,3342024

Highlighted filing

2022

Revenue$6,199,311
Expenses$3,619,585
Net Income$2,579,726
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Oct 2, 2023
Return Version
2022v5.0
Gross Receipts
$6,384,399
Mission and Program Overview

Mission

To provide support for educational opportunities in ghana.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$7,497,969$8,623,048▲ $1,125,079
Savings and Temporary Cash Investments$3,079,246$3,612,221▲ $532,975
Pledges and Grants Receivable$1,136,626$2,019,789▲ $883,163
Other Notes and Loans Receivable, Net$935,860$845,318▼ $90,542
Loans From Officers Directors$765,384$684,615▼ $80,769
Cash and Non-Interest-Bearing Accounts$91,538$122,881▲ $31,343
Prepaid Expenses and Deferred Charges$9,972$78,201▲ $68,229
Land, Buildings, and Equipment, Net$0$0→ $0
Total Assets$12,782,442$15,361,175▲ $2,578,733
Other Assets Total$31,231$59,717▲ $28,486
Liabilities
Other Liabilities$2,933,361$3,468,574▲ $535,213
Mortgage Notes Payable Secured by Investment Property$191,095$179,105▼ $11,990
Deferred Revenue-$80,300-
Accounts Payable and Accrued Expenses$64,243$68,752▲ $4,509
Total Liabilities$3,954,083$4,481,346▲ $527,263
Net Assets / Fund Balance
Net Assets With Donor Restrictions$5,877,248$7,349,048▲ $1,471,800
Net Assets Without Donor Restrictions$2,951,111$3,530,781▲ $579,670
Total Net Assets Fund Balance$8,828,359$10,879,829▲ $2,051,470
Total Liabilities and Net Assets / Fund Balance$12,782,442$15,361,175▲ $2,578,733

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$0$12,850$12,850

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$2,076,012$651,750▼ $328,948-$2,329,680
2021$1,315,252$640,000▲ $157,771-$2,076,012
2020$1,040,971$165,000▲ $131,859-$1,315,252
2019$826,133$120,000▲ $103,852-$1,040,971
2018$405,563$450,000▼ $20,535-$826,133
Compensation and Service Providers
Top Officer Pay43rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Joanna BargeronFoundation Vice PresidentFT$115,733$15,382$131,115
Patrick AwuahFoundation PresidentPT$70,000$23,762$93,762

Board Members and Trustees

NameTitle
Reggie BrownChair
Peggy ClarkVice Chair
Aprile AgeTrustee
Charles AgyemanTrustee
Conrad GehrmannTrustee
Daniel RundeTrustee
Emer DooleyTrustee
Isaac FokuoTrustee
Kofi BonnerTrustee
Neil CollinsTrustee
Nina MariniTrustee
Ruth WarrenTrustee
Tanya MasiyiwaTrustee
Todd WarrenTrustee
Yaw Asare-aboagyeTrustee
Lisa Norton-motulskySecretary
Scott KucirekTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$6,011,519
Program Service Revenue
$0
Investment Income
$197,280
Other Revenue
$-9,488
All Other Contributions
$5,910,339
Change in Net Assets
$2,579,726

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded13$687,206Fair Market Value (FMV)
Total Noncash Contributions13$687,206-

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,199,311
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-484,284
Total Revenue per Audited Statements
$5,715,027
Total Revenue per Form 990
$6,199,311
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$2,619,969
Salaries, Compensation, and Employee Benefits$591,560
Total Fundraising Expense$467,855
Other Expenses$408,056
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$2,619,969--$2,619,969
Other Salaries and Wages$30,251$90,357$138,962$259,570
Current Officers, Directors, Trustees, and Key Employees$100,384$48,109$99,897$248,390
Fees for Services Other$36,340$18,870$120,875$176,085
Fees for Services Accounting-$48,270-$48,270
Travel$12,279$5,504$25,626$43,409
Interest$41,077--$41,077
Other Employee Benefits$8,123$11,857$17,012$36,992
Occupancy$8,284$7,691$13,609$29,584
Office Expenses$5,959$5,488$15,442$26,889
Payroll Taxes$5,119$8,175$12,956$26,250
Pension Plan Contributions$3,857$6,092$10,409$20,358
Fees for Services Legal$11,722--$11,722
Other Expenses$1,459$1,632$7,082$10,173
Insurance$4,009$2,412$2,394$8,815
Total Functional Expenses$2,892,185$259,545$467,855$3,619,585

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$3,663,557
Expenses per Audited Statements$3,619,585
Total Expenses per Form 990$3,619,585
Expenses Not Reported on Form 990$43,972
Expenses Not Reported on Financial Statements$0
International Activity

International Summary

Offices
1
Employees
0
Spending
$2,619,969

International Compliance

Foreign grant records maintained
No
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Sub-saharan AfricaGrants to Recipients Located in Region/program ServicesGrants to Support New Campus Construction, Scholarships, and Program Support10$2,619,969
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$765,384$684,615▼ $80,769
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Funds Held for Benefit of Ashesi University$3,468,574
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Todd warren, trustee, and ruth warren, trustee, are husband and wife.”

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

“The 990 is reviewed by staff and reconciled to the audited financials. The audit chair reviews the reconciliaiton and recommends the finance committee submit the 990 for board approval. Board members receive a copy of the 990 with the request for approval. The approved 990 is signed by the secretary of the board and filed electronically.”

Form 990, Part VI, Section B, Line 12C

“All new trustees are required to review and sign the policy. The governance committee reviews all policies annually.”

Form 990, Part VI, Section B, Line 15

“The compensation of the president is reviewed periodically by the board of trustees. The president is not present while the compensation is being discussed. Salaries of us foundation presidents and ghana university ceos are considered when evaluating compensation. Changes to the compensation package are approved by a vote of the board. The compensation for other key employees is reviewed annually by the foundation board chair and vice president. Archbright salary survey data is used for comparability data for similiar non profit positions. Compensation changes are reviewed by the board chair and annually, the compensation is approved by the vote of the board in the annual budget.”

Form 990, Part VI, Section C, Line 19

“All governing documents are available upon request. All staff members have access to the policy documents. Ashesi university foundation publishes yearly annual reports which include summary information from the audited financial reports. The annual reports and the audited financial statements are posted on our website. Ashesi's 990's are available on guidestar's website.”

Filing and Contact Details

Filer

Filer Name
Ashesi University Foundation
EIN
91-1997089
Phone
2065456988
Address
1201 3RD AVE 2200, SEATTLE, WA 98101

Signing Officer

Name
Lisa Norton-motulsky
Title
Secretary
Phone
2065456988
Signed
2023-10-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Patrick Awuah
Formed
1999
Legal Domicile
Wa
Voting Board Members
17
Independent Board Members
16
Employees
8
Volunteers
20

Preparer

Firm
Jacobson Jarvis & Co Pllc
Address
200 1ST AVE W SUITE 200, SEATTLE, WA 98119
Preparer
Katie Joens CPA
Phone
2066288990
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“In-kind discount housing loan -1,629.”

FORM 990, PART XI, LINE 2C:

“There has been no change in the audit committee process.”

Financial Statement Notes

PART V, LINE 4:

“To provide scholarships for students at ashesi university.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Discount on interest housing loan university 24,843.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“In-kind interest housing notes 26,472.”

Raw XML AppendixShowing 400 of 734 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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IRS990/Form990PartVIISectionAGrp/PersonNm17TODD WARREN
IRS990/Form990PartVIISectionAGrp/PersonNm18JOANNA BARGERON
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt130
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IRS990/Form990PartVIISectionAGrp/TitleTxt0FOUNDATION PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt10TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt11TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt12TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt13TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt14TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt15TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt16TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt17TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt18FOUNDATION VICE PRESIDENT
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IRS990/FormationYr01999
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IRS990/LoansFromOfficersDirectorsGrp/BOYAmt0765384
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IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO PROVIDE SUPPORT FOR EDUCATIONAL OPPORTUNITIES IN GHANA.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd01
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IRS990/NetAssetsOrFundBalancesEOYAmt010879829
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IRS990/NetUnrlzdGainsLossesInvstAmt0-526627
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IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt03530781
IRS990/NoncashContributionsAmt0687206
IRS990/NondeductibleContributionsInd00
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IRS990/OccupancyGrp/ManagementAndGeneralAmt07691
IRS990/OccupancyGrp/ProgramServicesAmt08284
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IRS990/OfficeExpensesGrp/ProgramServicesAmt05959
IRS990/OfficeExpensesGrp/TotalAmt026889
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
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IRS990/OtherExpensesGrp/Desc0EQUIPMENT EXPENSES
IRS990/OtherExpensesGrp/Desc1RESEARCH FEES
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IRS990/OtherExpensesGrp/FundraisingAmt17082
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt05088
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt11632
IRS990/OtherExpensesGrp/ProgramServicesAmt03353
IRS990/OtherExpensesGrp/ProgramServicesAmt11459
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IRS990/OtherExpensesGrp/TotalAmt110173
IRS990/OtherLiabilitiesGrp/BOYAmt02933361
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IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0RECOVERY OF UNCOLLECTI
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IRS990/OtherRevenueTotalAmt0-9488
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IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt030251
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IRS990/PayPremiumsPrsnlBnftCntrctInd00
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IRS990/ProfessionalFundraisingInd00
IRS990/ProgSrvcAccomActy2Grp/Desc0CAMPUS EXPANSION: TO SERVE ASHESI UNIVERSITY'S GROWING STUDENT BODY, WE ARE RAISING FUNDS TO PURCHASE EQUIPMENT AND BUILD MORE CLASSROOMS, LABS, STUDENT HOUSING, AND COLLABORATIVE SPACES.
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IRS990/ProgSrvcAccomActy2Grp/GrantAmt0969979
IRS990/ProgSrvcAccomActy3Grp/Desc0PROGRAM GROWTH: TO PROVIDE STUDENTS WITH THE HIGHEST QUALITY EDUCATION, WE ARE RAISING FUNDS TO INVEST IN FACULTY DEVELOPMENT, RESEARCH, THE EDUCATION COLLABORATIVE AND OTHER NEW INITIATIVES AND PARTNERSHIPS.
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Filings

Displayed year

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

Open filing
Assets
$15,361,175
Liabilities
$4,481,346
Net assets
$10,879,829
Revenue
$6,199,311
Expenses
$3,619,585
Net income
$2,579,726
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$29.3$8.02$21.3$6.03$5.18$0.84
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$25.9$5.93$20.0$13.8$5.29$8.55
2022Detailed filing. Detailed filing data is available for this year.$15.4$4.48$10.9$6.20$3.62$2.58
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.8$3.95$8.83$4.15$4.59$0.44
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.2$1.10$9.14$5.14$3.76$1.37
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.73$1.11$7.63$3.18$2.63$0.54
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.50$1.53$6.97$2.87$3.31$0.44
2017Detailed filing. Detailed filing data is available for this year.$8.77$1.30$7.46$4.64$5.10$0.45
2016Detailed filing. Detailed filing data is available for this year.$9.21$1.33$7.88$4.83$3.36$1.47
2015Detailed filing. Detailed filing data is available for this year.$7.70$1.31$6.40$3.53$1.74$1.79
2014Detailed filing. Detailed filing data is available for this year.$5.50$0.88$4.62$2.84$2.75$0.09
2013Detailed filing. Detailed filing data is available for this year.$4.77$0.19$4.57$3.79$2.25$1.54
2012Summary only. Only limited summary data is available for this year.$3.11$0.00$3.10$1.78$1.04$0.74
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.33$0.01$2.33$1.80
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.66$0.00$1.66$1.74