Dace Foundation

Nonprofit profile at a glance

EIN
384116440
IRS 990 coverage
2022–2025
Forms available
Form 990 2025, Form 990-EZ 2021, Form 990-N 2019
Location
Frederick, MD, USA
Phone
2405052439
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Elementary, Secondary Education, K - 12

Official website

Reported finances

Revenue
$47,536
Expenses
$61,773
Assets
$12,751
Liabilities
$16,039

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • Wilfred Yartey (President)

People named in this filing

  • Daniel Payne (Director)
  • Frank Justice Atta (Director)
  • Dennis Mensah Sarbah (Director)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Dace foundation provides financial, educational and social support to students from underserved areas in Ghana. Through our various programs, Dace has been able to enroll brilliant students to the best high schools and colleges in Ghana. Dace is continuously expanding its programs to reach students in remote parts of Ghana.

What it reported doing in 2025

Dace foundation supports over 60 students in middle schools, high schools and universities. The number of students Dace foundation supports continues to grow year by year and we are on track to having over 100 students in the universities by 2030. Without Dace generous support, these students will not be able to attend high schools and universities. Not only is Dace funding their education but also addressing the well-being of its students. These include their medical bills, accommodation and other unforeseen events that may distract their studies. Our volunteers work with our students, their families and school administrators to ensure the success of every Dace student.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 92
  • Accountability: 47
  • Sustainability: 26
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 98.2%; rating input score 98
  • Program expense ratio: 75.6%; rating input score 76
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 60%; rating input score 60; 23rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -29.9%; rating input score 31; 31st percentile among comparable filings
  • Total-asset coverage ratio: 0.21; rating input score 13; 13th percentile among comparable filings
  • Liabilities to assets ratio: 1.26; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 58; 58th percentile among comparable filings

Growth

  • Program expense growth: 16.4% per year; rating input score 100; 81st percentile among comparable filings
  • Revenue growth: -5.5% per year; rating input score 0; 40th percentile among comparable filings
  • Asset growth: -34% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 98.2% of revenue deployed · 75.6% of spending went to programs
  • Governance: 3 of 5 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $47K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 4 filing years from 2022 to 2025
  • Contacts: How to reach this organization
  • 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 — Accountability: Governance controls: 4 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 31/100.
  • High — Sustainability: Total-asset coverage ratio scored 13/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.
  • Review — Sustainability: Officer compensation ratio scored 58/100.