Ada University Foundation
- Assets
- $9.5m
- Revenue
- $929.3k
- Investments
- $4.2m
- Employees
- 2
- Location
- Washington, DC
- Founding
- 11/2007
- Data as of
- 12/2021
- EIN
- 26-0306948
Organization Overview
Ada University Foundation is located in Washington, DC. The organization was established in 2007. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. As of 12/2021, Ada University Foundation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ada University Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Ada University Foundation generated $929.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (21.9%) each year. All expenses for the organization totaled $762.5k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
ADA UNIVERSITY FOUNDATION IS ORGANIZED FOR CHARITABLE PURPOSES TO SUPPORT ADA UNIVERSITY'S EDUCATIONAL PROGRAMS, PROMOTE CULTURAL AWARENESS, AND ADMINISTER EDUCATIONAL AND CULTURAL ACTIVITIES IN AZERBAIJAN AND THE UNITED STATES OF AMERICA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION'S ACTIVITIES MAY INCLUDE SPONSORSHIP, FUNDING, ADMINISTRATION AND MAINTENANCE OF PROGRAMS AND PROJECTS IN SUPPORT OF THE ADA UNIVERSITY IN BAKU, AZERBAIJAN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Galib Mammad President/treasurer | Officer | 40 | $108,000 |
Ambassador Richard L Armitage Board Member | Trustee | 2 | $0 |
Ambassador Hafiz Pashayev Board Member | Trustee | 2 | $0 |
Robert F Cekuta Board Member | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Blackboard International Bv Software Implementation | 12/30/20 | $213,000 |
Ellucian Global Support Software Implementation | 12/30/20 | $514,905 |
Ellucian Global Support Software Implementation | 12/30/20 | $514,905 |
Blackboard International Bv Software Implementation | 12/30/20 | $213,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $100,000 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $431,355 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $531,355 |
| Total Program Service Revenue | $255,065 |
| Investment income | $142,898 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $929,318 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $108,000 |
| Compensation of current officers, directors, key employees. | $21,600 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $65,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $50,926 |
| Payroll taxes | $14,704 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,140 |
| Fees for services: Accounting | $3,206 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $33,507 |
| Fees for services: Other | $0 |
| Advertising and promotion | $9,828 |
| Office expenses | $14,148 |
| Information technology | $7,324 |
| Royalties | $0 |
| Occupancy | $255,036 |
| Travel | $17,327 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $14,587 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $97,233 |
| Insurance | $5,527 |
| All other expenses | $0 |
| Total functional expenses | $762,491 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $26,357 |
| Savings and temporary cash investments | $320,517 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $3,720,378 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $4,221,056 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,242,689 |
| Total assets | $9,530,997 |
| Accounts payable and accrued expenses | $16,481 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,191,159 |
| Total liabilities | $1,207,640 |
| Net assets without donor restrictions | $4,823,357 |
| Net assets with donor restrictions | $3,500,000 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $9,530,997 |
Endowment Analysis
| Beg. Balance | $3,500,000 |
| Ending Balance | $3,500,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
United States Naval Academy Foundation Inc Annapolis, MD | $305,968,176 | $47,603,619 |
Umuc Ventures Inc Bethesda, MD | $44,098,237 | $47,696,802 |
The Malala Fund Washington, DC | $40,557,471 | $29,060,686 |
Building Hope Finance Washington, DC | $123,995,340 | $7,003,194 |
Dc Public Education Fund Washington, DC | $19,324,284 | $7,024,090 |
St Christophers School Foundation Richmond, VA | $94,106,126 | $9,680,251 |
National Automatic Sprinkler 669 Va Education Fund Columbia, MD | $15,668,623 | $8,120,660 |
United States Japan Foundation Owings Mills, MD | $106,169,200 | $4,759,214 |
St Stephen S And St Agnes School Foundation Alexandria, VA | $47,445,810 | $11,356,184 |
Charles B Keesee Educational Fund Incorporated Martinsville, VA | $78,271,755 | $5,985,709 |
James Barry Robinson Home For Boys Trust Norfolk, VA | $49,691,285 | $5,553,084 |
Liberian Education Achievement & Resource Network Washington, DC | $510,785 | $2,650,000 |