Ashesi University Foundation Canada

Nonprofit profile at a glance

EIN
981726846
IRS 990 coverage
2022–2023
Forms available
Form 990 2023
Location
Toronto, Ontario, CA
Phone
6474822325
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$5,803,889
Expenses
$6,317,258
Assets
$264,288,730
Liabilities
$34,144

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • MEREDITH LEE (EXECUTIVE DIRECTOR)

Highest reported compensation

  • MEREDITH LEE (EXECUTIVE DIRECTOR): $115,581 total reported compensation
  • CHRISTOPHER GLOVER (DIRECTOR): $101,504 total reported compensation
  • PATRICK AWUAH (BOARD CHAIR): $100,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

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.

What it reported doing in 2023

Providing financial assistance/scholarship/fellowship to post-secondary studends in ashesi university lbg in ghana.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 76
  • Accountability: 72
  • Sustainability: 55
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 85.9%; rating input score 86
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: 0 of 8 controls in place; rating input score 0
    • Claims monitoring procedures: Fail
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 9 controls in place; rating input score 33
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -8.8%; rating input score 16; 16th percentile among comparable filings
  • Total-asset coverage ratio: 41.84; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 95; 95th percentile among comparable filings
  • Officer compensation ratio: 3.4%; rating input score 65; 65th percentile among comparable filings

Growth

  • Program expense growth: 178.2% per year; rating input score 100; 100th percentile among comparable filings
  • Revenue growth: -188.4% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: 7% per year; rating input score 100; 45th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 85.9% of spending went to programs
  • Governance: 1 of 1 board members independent · 3 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $5.4M in reported program spending
  • Leadership: top reported pay $116K · 7 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 5 filed schedules · includes foreign activity
  • Filing history: 2 filing years from 2022 to 2023
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Foreign activity oversight: 8 of 8 not reported.
  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 16/100.