Ashesi University Foundation
- Assets
- $25.9m
- Revenue
- $13.8m
- Investments
- $0.0
- Employees
- 11
- Location
- Seattle, WA
- Founding
- 01/2000
- Data as of
- 12/2023
- EIN
- 91-1997089
Organization Overview
Ashesi University Foundation is located in Seattle, WA. The organization was established in 2000. According to its NTEE Classification (Q30) the organization is classified as: International Development, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2023, Ashesi University Foundation employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ashesi 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 12/2023, Ashesi University Foundation generated $13.8m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 16.4% each year . All expenses for the organization totaled $5.3m during the year ending 12/2023. While expenses have increased by 13.1% per year over the past 9 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SUPPORT FOR EDUCATIONAL OPPORTUNITIES IN GHANA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CAMPUS EXPANSION: TO SERVE ASHESI UNIVERSITY'S (ASHESI) GROWING STUDENT BODY, WE ARE RAISING FUNDS TO PURCHASE EQUIPMENT AND BUILD MORE CLASSROOMS, LABS, STUDENT HOUSING, AND COLLABORATIVE SPACES.
SCHOLARSHIPS: AS ASHESI GROWS, WE ARE RAISING FUNDS TO MAINTAIN THE PERCENTAGE OF STUDENTS ON SCHOLARSHIPS. 54% OF ASHESI'S STUDENTS RECEIVED FINANCIAL AID, FUNDED THROUGH TUITION AND DONOR CONTRIBUTIONS.
PROGRAM GROWTH: TO PROVIDE STUDENTS WITH THE HIGHEST QUALITY EDUCATION, WE ARE RAISING FUNDS TO INVEST IN FACULTY DEVELOPMENT, RESEARCH, THE EDUCATION COLLABORATIVE AND OTHER INITIATIVES AND PRIORITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick Awuah Foundation President | OfficerTrustee | 20 | $106,227 |
Lisa Norton-Motulsky Secretary | OfficerTrustee | 2 | $0 |
Conrad Gehrmann Treasurer | OfficerTrustee | 3 | $0 |
Charles Agyeman Alumni Director | OfficerTrustee | 2 | $0 |
Reggie Brown Chair | OfficerTrustee | 2 | $0 |
Peggy Clark Vice Chair | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $640,598 |
| All other contributions, gifts, grants, and similar amounts not included above | $12,642,400 |
| Noncash contributions included in lines 1a–1f | $475,402 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,282,998 |
| Total Program Service Revenue | $0 |
| Investment income | $580,649 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$24,743 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,838,904 |
| 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 | $4,057,700 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $261,676 |
| Compensation of current officers, directors, key employees. | $52,335 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $397,975 |
| Pension plan accruals and contributions | $20,501 |
| Other employee benefits | $20,066 |
| Payroll taxes | $54,479 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,836 |
| Fees for services: Accounting | $59,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $195,504 |
| Advertising and promotion | $0 |
| Office expenses | $34,349 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $33,170 |
| Travel | $74,733 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $36,308 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $9,796 |
| All other expenses | $0 |
| Total functional expenses | $5,292,487 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $144,789 |
| Savings and temporary cash investments | $4,963,481 |
| Pledges and grants receivable | $3,077,472 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $752,900 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $81,630 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $16,819,260 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $53,888 |
| Total assets | $25,893,420 |
| Accounts payable and accrued expenses | $59,748 |
| Grants payable | $0 |
| Deferred revenue | $256,233 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $4,846,894 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $603,846 |
| Secured mortgages and notes payable | $164,824 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $5,931,545 |
| Net assets without donor restrictions | $3,841,329 |
| Net assets with donor restrictions | $16,120,546 |
| 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 | $25,893,420 |