Civic Intelligence

Ashesi University Foundation Canada

990 • Fiscal year 2022 • EIN 98-1726846

Jan 01, 2022 to Dec 31, 2022 • Filed on Dec 06, 2023

Organization ProfileWWW.ASHESI.ORG/ABOUT/FOUNDATION-CANADA
507 King Street East 320Toronto, Ontario M5A 1M3CA

(647) 482-2325

Siviq Scores

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

Liabilities / Assets

3rd percentile

0.00x

Higher debt load relative to assets than 3% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Liabilities / Revenue

3rd percentile

0.00x

Higher debt load relative to revenue than 3% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Net Margin

99th percentile

100%

Higher net margin than 99% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Top Officer Pay

6th percentile

$127,564

Higher top officer pay than 6% of similar nonprofits.

Top officer pay equals 0.1% of source-year revenue.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2022

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2022

Balance Sheet
Liabilities / Assets3rd percentile

Assets

$246,448,010

No earlier filing loaded for comparison.

Net Assets

$246,391,425

No earlier filing loaded for comparison.

Liabilities

$56,585

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue3rd percentileNet Margin99th percentile

Revenue

$193,794,247

No earlier filing loaded for comparison.

Expenses

$710,160

No earlier filing loaded for comparison.

Net Income

$193,084,087

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$300M$200M$100M$0Assets 2022: $246,448,010Liabilities 2022: $56,585Net Assets 2022: $246,391,4252022Assets 2023: $264,288,730Liabilities 2023: $34,144Net Assets 2023: $264,254,5862023

Highlighted filing

2022

Assets$246,448,010
Liabilities$56,585
Net Assets$246,391,425
Open 2022 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$200M$150M$100M$50M$0-$50MRevenue 2022: $193,794,247Expenses 2022: $710,160Net Income 2022: $193,084,0872022Revenue 2023: $5,803,889Expenses 2023: $6,317,258Net Income 2023: -$513,3692023

Highlighted filing

2022

Revenue$193,794,247
Expenses$710,160
Net Income$193,084,087
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Dec 6, 2023
Return Version
2022v5.0
Gross Receipts
$194,820,508
Mission and Program Overview

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.

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$66,510,237$246,391,425▲ $179,881,188
Investments Other Securities$66,368,383$246,325,157▲ $179,956,774
Cash and Non-Interest-Bearing Accounts$148,902$117,326▼ $31,576
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$66,517,285$246,448,010▲ $179,930,725
Other Assets Total$0$5,527▲ $5,527
Liabilities
Accounts Payable and Accrued Expenses$7,048$31,877▲ $24,829
Other Liabilities$0$24,708▲ $24,708
Total Liabilities$7,048$56,585▲ $49,537
Net Assets / Fund Balance
Total Net Assets Fund Balance$66,510,237$246,391,425▲ $179,881,188
Total Liabilities and Net Assets / Fund Balance$66,517,285$246,448,010▲ $179,930,725

Asset Categories

AssetBook ValueDepreciationBasis
Financial Derivatives$246,325,157--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$66,510,237$193,904,290▼ $13,312,942$0$246,391,425
2021$0$67,320,702▼ $803,271-$66,510,237
Compensation and Service Providers
Top Officer Pay6th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Meredith LeeExecutive DirectorFT$115,269$12,295$127,564
Patrick AwuahBoard Chair--$100,000$100,000

Board Members and Trustees

NameTitle
Mateko AzuBoard Director
Paul FieguthBoard Director
Emer DooleyBoard Secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$193,904,290
Program Service Revenue
$0
Investment Income
$-110,043
Other Revenue
$0
Change in Net Assets
$193,084,087

Audited Revenue Reconciliation

Revenue per Audited Statements
$193,794,247
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-1,982,560
Total Revenue per Audited Statements
$191,811,687
Total Revenue per Form 990
$193,794,247
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$359,321
Grants and Similar Amounts Paid$312,971
Salaries, Compensation, and Employee Benefits$37,868
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$312,971--$312,971
Fees for Service Investment Mgmnt Fees-$224,157-$224,157
Fees for Services Other-$82,468-$82,468
Office Expenses-$52,696-$52,696
Comp Disqual Persons-$37,868-$37,868
Total Functional Expenses$312,971$397,189$0$710,160

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$710,160
Total Expenses per Audited Statements$710,160
Total Expenses per Form 990$710,160
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

International Summary

Offices
0
Employees
0
Spending
$0

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
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Related Party$24,708
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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

“The form 990 need to be aproved by the board of directors before it was filed.”

Form 990, Part VI, Section C, Line 19

“The foundation is classified as a private charitable foundation as defined in paragraph 149.1(1) of the income tax act (canada)[the "act"] and, therefore, is required to provided audit report available for public inspection annually.”

Filing and Contact Details

Filer

Filer Name
Ashesi University Foundation Canada
EIN
98-1726846
Phone
6474822325
Address
CA

Signing Officer

Name
Meredith Lee
Title
Executive Director
Signed
2023-12-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Meredith Lee
Formed
2020
Voting Board Members
1
Independent Board Members
1
Employees
0
Volunteers
0

Preparer

Firm
Dntw Toronto Llp
Address
CA
Preparer
Randeep Chana
Phone
4166382000
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Professional and consulting fees: program service expenses 0. Management and general expenses 82,468. Fundraising expenses 0. Total expenses 82,468.”

FORM 990, PART XI, LINE 9:

“Foreign exchange rate difference -11,936,323.”

FORM 990, PART XII, LINE 1:

“The foundation follows the restricted fund method of accounting for contributions.”

Financial Statement Notes

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Loss on foreign exchange -715,984.”

Raw XML AppendixShowing 400 of 401 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.

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt07048
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt031877
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0THE 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.
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0MEREDITH LEE
IRS990/BooksInCareOfDetail/ForeignAddress/AddressLine1Txt0507 KING STREET EAST UNIT 320
IRS990/BooksInCareOfDetail/ForeignAddress/CityNm0TORONTO
IRS990/BooksInCareOfDetail/ForeignAddress/CountryCd0CA
IRS990/BooksInCareOfDetail/ForeignAddress/ForeignPostalCd0M5A 1M3
IRS990/BooksInCareOfDetail/ForeignAddress/ProvinceOrStateNm0ONTARIO
IRS990/BooksInCareOfDetail/PhoneNum05198844245
IRS990/BusinessRlnWith35CtrlEntInd00
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CapStkTrPrinCurrentFundsGrp/BOYAmt00
IRS990/CapStkTrPrinCurrentFundsGrp/EOYAmt00
IRS990/CashNonInterestBearingGrp/BOYAmt0148902
IRS990/CashNonInterestBearingGrp/EOYAmt0117326
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd00
IRS990/CompDisqualPersonsGrp/ManagementAndGeneralAmt037868
IRS990/CompDisqualPersonsGrp/TotalAmt037868
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd00
IRS990/CompensationProcessOtherInd00
IRS990/ConflictOfInterestPolicyInd00
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt0193904290
IRS990/CYGrantsAndSimilarPaidAmt0312971
IRS990/CYInvestmentIncomeAmt0-110043
IRS990/CYOtherExpensesAmt0359321
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt00
IRS990/CYRevenuesLessExpensesAmt0193084087
IRS990/CYSalariesCompEmpBnftPaidAmt037868
IRS990/CYTotalExpensesAmt0710160
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt0193794247
IRS990/DecisionsSubjectToApprovaInd00
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DelegationOfMgmtDutiesInd00
IRS990/Desc0PROVIDING FINANCIAL ASSISTANCE/SCHOLARSHIP/FELLOWSHIP TO POST-SECONDARY STUDENDS IN ASHESI UNIVERSITY LBG IN GHANA.
IRS990/DescribedInSection501c3Ind01
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd00
IRS990/DonorAdvisedFundInd00
IRS990/DonorRstrOrQuasiEndowmentsInd01
IRS990/ElectionOfBoardMembersInd00
IRS990/EmployeeCnt00
IRS990/EngagedInExcessBenefitTransInd00
IRS990/ExpenseAmt0312971
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
IRS990/FeesForServicesOtherGrp/ManagementAndGeneralAmt082468
IRS990/FeesForServicesOtherGrp/TotalAmt082468
IRS990/FeesForSrvcInvstMgmntFeesGrp/ManagementAndGeneralAmt0224157
IRS990/FeesForSrvcInvstMgmntFeesGrp/TotalAmt0224157
IRS990/ForeignActivitiesInd00
IRS990/ForeignAddress/AddressLine1Txt0507 KING STREET EAST 320
IRS990/ForeignAddress/CityNm0TORONTO
IRS990/ForeignAddress/CountryCd0CA
IRS990/ForeignAddress/ForeignPostalCd0M5A 1M3
IRS990/ForeignAddress/ProvinceOrStateNm0ONTARIO
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignGrantsGrp/ProgramServicesAmt0312971
IRS990/ForeignGrantsGrp/TotalAmt0312971
IRS990/ForeignOfficeInd01
IRS990/Form8282PropertyDisposedOfInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt01.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt11.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt20.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt31.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt440.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt412295
IRS990/Form990PartVIISectionAGrp/PersonNm0EMER DOOLEY
IRS990/Form990PartVIISectionAGrp/PersonNm1PAUL FIEGUTH
IRS990/Form990PartVIISectionAGrp/PersonNm2MATEKO AZU
IRS990/Form990PartVIISectionAGrp/PersonNm3PATRICK AWUAH
IRS990/Form990PartVIISectionAGrp/PersonNm4MEREDITH LEE
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt4115269
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt3100000
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/TitleTxt0BOARD SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt1BOARD DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2BOARD DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3BOARD CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt4EXECUTIVE DIRECTOR
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr02020
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedInd00
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/SecuritiesAmt0-1026261
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt01
IRS990/GovernmentGrantsAmt0193904290
IRS990/GrantAmt0312971
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt0194820508
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt01
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIXInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InitialReturnInd0X
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0916218
IRS990/InvestmentIncomeGrp/UnrelatedBusinessRevenueAmt0916218
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt066368383
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt0246325157
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileCountryCd0CA
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt01026261
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingOtherInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE 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.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd01
IRS990/NetAssetsOrFundBalancesBOYAmt066510237
IRS990/NetAssetsOrFundBalancesEOYAmt0246391425
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-1026261
IRS990/NetGainOrLossInvestmentsGrp/UnrelatedBusinessRevenueAmt0-1026261
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0-1266576
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt052696
IRS990/OfficeExpensesGrp/TotalAmt052696
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt00
IRS990/OtherAssetsTotalGrp/EOYAmt05527
IRS990/OtherChangesInNetAssetsAmt0-11936323
IRS990/OtherLiabilitiesGrp/BOYAmt00
IRS990/OtherLiabilitiesGrp/EOYAmt024708
IRS990/PartialLiquidationInd00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0MEREDITH LEE
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYContributionsGrantsAmt067320702
IRS990/PYExcessBenefitTransInd00
IRS990/PYOtherExpensesAmt0810465
IRS990/PYRevenuesLessExpensesAmt066510237
IRS990/PYTotalExpensesAmt0810465
IRS990/PYTotalRevenueAmt067320702
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0193084087
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/ReportInvestmentsOtherSecInd01
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt066510237
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0246391425
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0193904290
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt067320702
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0261224992
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct01.00000
IRS990ScheduleA/PublicSupportTotal170Amt0261224992
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0193904290
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt067320702
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0261224992
IRS990ScheduleA/TotalSupportAmt0261224992
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/CYEndwmtFundGrp/AdministrativeExpensesAmt0397189
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt066510237
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt0193904290
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt0246391425
IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt0312971
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-13312942
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt00
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/AdministrativeExpensesAmt07194
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt00
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt067320702
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt066510237
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-803271
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0710160
IRS990ScheduleD/FinancialDerivativesGrp/BookValueAmt0246325157
IRS990ScheduleD/FinancialDerivativesGrp/MethodValuationCd0F
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0-1266576
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt024708
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO RELATED PARTY
IRS990ScheduleD/OtherRevenueAmt0-715984
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.00281
IRS990ScheduleD/RevenueNotReportedAmt0-1982560
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0193794247
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0LOSS ON FOREIGN EXCHANGE -715,984.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TermEndowmentBalanceEOYPct00.99719
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueSecuritiesAmt0246325157
IRS990ScheduleD/TotalExpensesPerForm990Amt0710160
IRS990ScheduleD/TotalLiabilityAmt024708
IRS990ScheduleD/TotalRevenuePerForm990Amt0193794247
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0191811687
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0710160
IRS990ScheduleF/BoycottCountriesInd00
IRS990ScheduleF/ContinuationSpentAmt00
IRS990ScheduleF/ContinuationTotalEmployeeCnt00
IRS990ScheduleF/ContinuationTotalOfficeCnt00
IRS990ScheduleF/ForeignCorpOwnershipInd00
IRS990ScheduleF/ForeignPartnershipInd00
IRS990ScheduleF/GrantRecordsMaintainedInd00
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/CashGrantAmt0312971
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/NonCashAssistanceAmt00
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt0SCHOLARSHIPS TO POST-SECONDARY STUDENTS IN AFRICA.
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/RegionTxt0SUB-SAHARAN AFRICA
IRS990ScheduleF/InterestInForeignTrustInd00
IRS990ScheduleF/PassiveForeignInvestmestCoInd00
IRS990ScheduleF/SubtotalEmployeesCnt00
IRS990ScheduleF/SubtotalOfficesCnt00
IRS990ScheduleF/SubtotalSpentAmt00
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc0PART III ACCOUNTING METHOD:
IRS990ScheduleF/TotalEmployeeCnt00
IRS990ScheduleF/TotalOfficeCnt00
IRS990ScheduleF/TotalSpentAmt00
IRS990ScheduleF/TransferToForeignCorpInd00
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 NEED TO BE APROVED BY THE BOARD OF DIRECTORS BEFORE IT WAS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FOUNDATION IS CLASSIFIED AS A PRIVATE CHARITABLE FOUNDATION AS DEFINED IN PARAGRAPH 149.1(1) OF THE INCOME TAX ACT (CANADA)[THE "ACT"] AND, THEREFORE, IS REQUIRED TO PROVIDED AUDIT REPORT AVAILABLE FOR PUBLIC INSPECTION ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2PROFESSIONAL AND CONSULTING FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 82,468. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 82,468.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FOREIGN EXCHANGE RATE DIFFERENCE -11,936,323.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FOUNDATION FOLLOWS THE RESTRICTED FUND METHOD OF ACCOUNTING FOR CONTRIBUTIONS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 1:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0ASHESHI UNIVERSITY FOUNDATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1ASHESHI UNIVERSITY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0911997089
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1FOREIGN NON PROFIT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ForeignAddress/AddressLine1Txt01 UNIVERSITY AVE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ForeignAddress/CityNm0BEREKUSO
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ForeignAddress/CountryCd0GH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ForeignAddress/ProvinceOrStateNm0ACCRA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileForeignCountryCd0GH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0WA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0TO PROVIDE SUPPORT FOR EDUCATIONAL OPPORTUNITIES IN GHANA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1UNIVERSITY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt01201 3RD AVE 2200
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0SEATTLE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0WA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd098101
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt066517285
IRS990/TotalAssetsEOYAmt0246448010
IRS990/TotalAssetsGrp/BOYAmt066517285
IRS990/TotalAssetsGrp/EOYAmt0246448010
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0193904290
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0397189
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0312971
IRS990/TotalFunctionalExpensesGrp/TotalAmt0710160
IRS990/TotalGrossUBIAmt0-110043
IRS990/TotalLiabilitiesBOYAmt07048
IRS990/TotalLiabilitiesEOYAmt056585
IRS990/TotalLiabilitiesGrp/BOYAmt07048
IRS990/TotalLiabilitiesGrp/EOYAmt056585
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt066510237
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0246391425
IRS990/TotalOtherCompensationAmt012295
IRS990/TotalProgramServiceExpensesAmt0312971
IRS990/TotalReportableCompFromOrgAmt0115269
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0193794247
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0-110043
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt066517285
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0246448010
IRS990/TotReportableCompRltdOrgAmt0100000
IRS990/TransactionWithControlEntInd00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt01
IRS990/VotingMembersIndependentCnt01
IRS990/WebsiteAddressTxt0HTTPS://WWW.ASHESI.ORG/ABOUT/FOUNDATION-CANADA/
IRS990/WhistleblowerPolicyInd00
ReasonableCauseExplanation/ExplanationTxt0ASHESHI UNIVERSITY FOUNDATION CANADA INC. IS A CANADIAN NOT FOR PROFIT ORGANIZATION. IT RECEIVED A K-1 IN 2022 FOR SOME PASSIVE INVESTMENTS IT HOLDS IN THE UNITED STATES. ASHESHI FOUNDATION IS A CANADIAN CHARITY EXEMPT FROM ANY US TAXATION UNDER ARTICLE XXI, PARAGRAPH 4 OF THE CANADA US INCOME TAX TREATY. EARLIER IN THE YEAR, THE FOUNDATION CONSULTED WITH US REGARDING ANY COMPLIANCE REQUIREMENT, AND WE SUGGESTED FILING A TREATY BASED TAX RETURN. THE FOUNDATION'S MANAGEMENT APPLIED FOR THE EIN NUMBER OVER THE PHONE IN MARCH 2023. REGRETTABLY, DUE TO A MISCOMMUNICATION OR OVERSIGHT DURING THE APPLICATION PROCESS, THE DIRECTOR CANNOT RECALL IF THE AGENT CONFIRMED THE CORRECT YEAR END FOR THE FOUNDATION DURING THAT CONVERSATION.UPON REALIZING THE APPROACHING DEADLINE, THE FOUNDATION FILED FORM 8868 ON MAY 8, 2023, IN A DILIGENT EFFORT TO REQUEST ADDITIONAL TIME TO FILE THE 2022 INFORMATION RETURN. HOWEVER, TO OUR DISMAY, THE REQUEST WAS REJECTED, CITING A DISCREPANCY BETWEEN THE ENDING DATE OF THE FOUNDATION AS PROVIDED AND THE DATA IN THE E-FILING DATABASE. AS THE FOUNDATION APPLIED FOR THE EIN VIA PHONE, AND THE FOUNDATION DID NOT RECEIVE ANY PHYSICAL NOTICE THROUGH MAIL REGARDING THE EIN ISSUANCE (NOT SURE IF A NOTICE WAS ACTUALLY SENT OUT OR LOST DURING THE INTERNATIONAL MAILING) AND THEREFORE LACK CONFIRMATION OF THE DATE THAT THE IRS DATABASE CONTAINS.I WANT TO ASSURE YOU THAT THE FOUNDATION TAKES ITS TAX OBLIGATIONS SERIOUSLY AND IS COMMITTED TO RECTIFYING THIS SITUATION PROMPTLY. WE GATHERED ALL NECESSARY INFORMATION AND PREPARED THE ACCURATE INFORMATION RETURN AS SOON AS POSSIBLE. GIVEN THE CIRCUMSTANCES, WE REQUEST YOU ACCEPT THE INFORMATION RETURN AS TIMELY FILED. ALSO, ENCLOSED, YOU WILL FIND A COPY OF THE FORM 8868 FILING REJECTION AND FORM 2848 POWER OF ATTORNEY AND DECLARATION OF REPRESENTATIVE.WE APPRECIATE YOUR TIME AND ATTENTION TO THIS MATTER AND ASSURE YOU THAT WE ARE DEDICATED TO ENSURING COMPLIANCE WITH ALL IRS REGULATIONS MOVING FORWARD ON A TIMELY BASIS.SHOULD YOU REQUIRE ANY ADDITIONAL INFORMATION OR DOCUMENTATION FROM OUR END, PLEASE DO NOT HESITATE TO CONTACT ME AT [email protected] OR 416-638-2000 EXT. 230.
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/ForeignPhoneNum06472987058
ReturnHeader/BusinessOfficerGrp/PersonNm0MEREDITH LEE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-12-06
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ASHESI UNIVERSITY FOUNDATION CANADA
ReturnHeader/Filer/BusinessNameControlTxt0ASHE
ReturnHeader/Filer/EIN0981726846
ReturnHeader/Filer/ForeignAddress/AddressLine1Txt0507 KING STREET EAST 320
ReturnHeader/Filer/ForeignAddress/CityNm0TORONTO
ReturnHeader/Filer/ForeignAddress/CountryCd0CA
ReturnHeader/Filer/ForeignAddress/ForeignPostalCd0M5A 1M3
ReturnHeader/Filer/ForeignAddress/ProvinceOrStateNm0ONTARIO
ReturnHeader/Filer/PhoneNum06474822325
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0980689188
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DNTW TORONTO LLP
ReturnHeader/PreparerFirmGrp/PreparerForeignAddress/AddressLine1Txt0703-45 SHEPPARD AVENUE EAST
ReturnHeader/PreparerFirmGrp/PreparerForeignAddress/CityNm0TORONTO
ReturnHeader/PreparerFirmGrp/PreparerForeignAddress/CountryCd0CA
ReturnHeader/PreparerFirmGrp/PreparerForeignAddress/ForeignPostalCd0M2N 5W9
ReturnHeader/PreparerFirmGrp/PreparerForeignAddress/ProvinceOrStateNm0ONTARIO
ReturnHeader/PreparerPersonGrp/PhoneNum04166382000
ReturnHeader/PreparerPersonGrp/PreparationDt02023-12-06
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RANDEEP CHANA
ReturnHeader/ReturnTs02023-12-06T14:21:05-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0MEREDITH
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0LEE
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$246,448,010
Liabilities
$56,585
Net assets
$246,391,425
Revenue
$193,794,247
Expenses
$710,160
Net income
$193,084,087
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$264$0.03$264$5.80$6.32$0.51
2022Detailed filing. Detailed filing data is available for this year.$246$0.06$246$194$0.71$193