2025-09-22T10:36:46-05:00 2024-12-31 911194016 CLARK NUBER PS 555 110TH AVE NE SUITE 700 BELLEVUE WA 98004 990 2024-01-01 911997089 ASHESI UNIVERSITY FOUNDATION ASHE 2065456988 1201 3RD AVE 2200 SEATTLE WA 98101 LISA NORTON-MOTULSKY SECRETARY 2065456988 2025-09-19 1 0 FRANCES OLSON P01228048 4254544919 2025-09-19 2024 2025-03-06 01:10:19Z PATRICK AWUAH 1201 3RD AVE 2200 SEATTLE WA 98101 14385493 0 X WWW.ASHESI.ORG X 1999 WA TO PROVIDE SUPPORT FOR EDUCATIONAL OPPORTUNITIES IN GHANA. 17 16 11 16 0 0 13282998 5327928 0 0 555906 698508 0 0 13838904 6026436 4057700 3694608 0 0 754697 877850 0 0 663706 480090 610644 5292487 5183102 8546417 843334 25893420 29324742 5931545 8018591 19961875 21306151 ASHESI UNIVERSITY FOUNDATION PROVIDES SUPPORT FOR EDUCATIONAL OPPORTUNITIES IN GHANA. OUR MISSION IS TO ADVANCE THE EDUCATION OF ETHICAL, ENTREPRENEURIAL LEADERS WHO WILL BUILD A FLOURISHING AFRICA WHERE ALL PEOPLE CAN ACHIEVE THEIR FULL POTENTIAL. 0 0 1977624 1819869 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. 1296637 1231449 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. 831968 643290 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. 4106229 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 8 0 1 11 1 0 0 0 0 0 0 0 0 0 0 0 0 X 17 16 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 WA X JOANNA BARGERON 2065456988 1201 3RD AVE 2200 SEATTLE WA 98101 PATRICK AWUAH FOUNDATION PRESIDENT 20.00 X X 95833 0 30351 REGGIE BROWN CHAIR THRU 10/24 THEN DIRECTOR 2.00 X X 0 0 0 PEGGY CLARK VICE CHAIR THRU 10/24 THEN CHAIR 2.00 X X 0 0 0 ABE ANKUMAH VICE CHAIR ELECTED 12/24 1.00 X X 0 0 0 CONRAD GEHRMANN TREASURER 3.00 X X 0 0 0 LISA NORTON-MOTULSKY SECRETARY 2.00 X X 0 0 0 CHARLES AGYEMAN ALUMNI DIRECTOR/AUDIT RISK CHAIR 2.00 X 0 0 0 YAW ASARE-ABOAGYE DIRECTOR 1.00 X 0 0 0 KOFI BONNER DIRECTOR 1.00 X 0 0 0 NEIL COLLINS DIRECTOR 1.00 X 0 0 0 EMER DOOLEY DIRECTOR 2.00 X 0 0 0 ISSAC DOOLEY DIRECTOR 1.00 X 0 0 0 SCOTT KUCIREK DIRECTOR 1.00 X 0 0 0 NINA MARINI DIRECTOR 1.00 X 0 0 0 LEWIS ROBERTS DIRECTOR 1.00 X 0 0 0 RUTH WARREN DIRECTOR 1.00 X 0 0 0 TODD WARREN DIRECTOR 1.00 X 0 0 0 JOANNA BARGERON VICE PRESIDENT 40.00 X 145600 0 18798 241433 0 49149 1 0 1 0 BWF 7900 XERXES AVE S SUITE 980 MINNEAPOLIS MN 55431 NON-PROFIT CONSULTANT 193081 1 600491 4727437 559891 5327928 698127 698127 8359438 8359057 381 381 381 6026436 0 0 698508 3694608 3694608 300449 124014 60090 116345 457527 76210 114873 266444 27965 4694 5692 17579 32439 5616 10118 16705 59470 15380 14154 29936 10110 10110 91137 91137 270005 97007 76492 96506 53663 3022 12301 38340 31533 7796 7326 16411 86100 28371 8040 49689 30923 30923 10418 3878 3749 2791 EQUIPMENT 18451 4362 8080 6009 RESEARCH/FEES 5922 26 24 5872 BOARD OUTREACH 1784 212 493 1079 LICENSES AND FEES 598 598 5183102 4106229 413167 663706 144789 265291 4963481 9583130 3077472 621207 22000 752900 658462 81630 82459 12850 12850 0 0 16819260 18056438 53888 35755 25893420 29324742 59748 93916 256233 16525 4846894 7258093 603846 523077 164824 126980 5931545 8018591 X 3841329 3772023 16120546 17534128 19961875 21306151 25893420 29324742 X 843334 503689 -2747 X 0 1 X 1 0 X 5067093 4055275 6011519 13282998 5327928 33744813 5067093 4055275 6011519 13282998 5327928 33744813 8553110 25191703 37776 83424 178966 580649 698127 1578942 417 6687 -9488 -2384 35321371 0.71320 0.70150 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: RECOVERY UNCOLLECTIBLE PLEDGES - 2020 AMOUNT: $ 417. 2021 AMOUNT: $ 6,687. 2022 AMOUNT: $ -9,488. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 X 9820131 4163484 845218 307200 14521633 2329680 6816500 738774 64823 9820131 2076012 651750 -328948 69134 2329680 1315252 640000 157771 37011 2076012 1040971 165000 131859 22578 1315252 0.07850 0.92150 0.00000 0 0 12850 12850 0 0 6577071 503689 26000 20946 550635 6026436 0 6026436 5232795 26000 23693 49693 5183102 0 5183102 PART IV, LINE 2B: THE FOUNDATION CREATED AN INVESTMENT ACCOUNT, THE UNIVERSITY FUND (THE FUND), AND HAS SET UP A CORRESPONDING LIABILITY, FUNDS HELD FOR THE BENEFIT OF ASHESI UNIVERSITY. THE UNIVERSITY HAS SENT FUNDS TO THE FOUNDATION FOR DEPOSIT INTO THE FUND. THE TRANSFER OF FUNDS IS GOVERNED BY THE UNIVERSITY FUND TRANSFER AGREEMENT AND THE MANAGEMENT OF THE FUND IS GOVERNED BY THE UNIVERSITY FUND INVESTMENT MANAGEMENT AGREEMENT. PART V, LINE 4: TO PROVIDE SCHOLARSHIPS FOR STUDENTS AT ASHESI UNIVERSITY. PART XI, LINE 2D - OTHER ADJUSTMENTS: DISCOUNT ON INTEREST HOUSING LOAN UNIVERSITY 20,946. PART XII, LINE 2D - OTHER ADJUSTMENTS: IN-KIND INTEREST HOUSING NOTES 23,693. 1 SUB-SAHARAN AFRICA 0 1 GRANTS TO RECIPIENTS LOCATED IN REGION/ PROGRAM SERVICES 3694608 SWITZERLAND 0 0 FUNDRAISING 0 1 0 0 0 1 3694608 0 3694608 SUB-SAHARAN AFRICA CAMPUS EXPANSION 643290 0 SUB-SAHARAN AFRICA SCHOLARSHIPS 1819869 0 SUB-SAHARAN AFRICA PROGRAM GROWTH 1231449 0 1 0 1 0 0 0 0 0 PART I, LINE 2: FOUNDATION'S BOARD MEETS BIANNUALLY WITH THE BOARD OF ITS SUBRECIPIENT, ASHESI UNIVERSITY; CAPITAL PROJECTS ARE VISUALLY INSPECTED BY STAFF ON ANNUAL VISITS TO GHANA; DOCUMENTATION TO SUPPORT EXPENDITURE OF GRANT FUNDS ARE REVIEWED REGULARLY BY FOUNDATION STAFF, AS REQUIRED BY INDIVIDUAL AWARD AGREEMENTS; STAFF RECEIVES REGULAR UNIVERSITY OPERATIONS UPDATES DURING MEETINGS WITH UNIVERSITY EXECUTIVE LEADERSHIP. PART IV, LINE 1: FORM 926 IS NOT REQUIRED TO BE FILED BECAUSE THE TRANSFER TO A FOREIGN CORPORATION DOES NOT MEET THE REPORTING REQUIREMENTS IN IRC 6038(A)(1)(A). PART 1, LINE 3 THE ACCRUAL METHOD OF ACCOUNTING IS USED TO ACCOUNT FOR EXPENDITURES. X 1 1 X X X X 0 0 0 0 0 0 0 1 0 JOANNA BARGERON VICE PRESIDENT 115000 0 30000 0 600 0 11295 0 7503 0 164398 0 0 0 PART I, LINE 1A PATRICK AWUAH, PRESIDENT, OCCASIONALLY TRAVELS FIRST-CLASS. NOT TREATED AS TAXABLE COMPENSATION. PART I, LINE 7 BONUSES ARE BASED ON ANNUAL PERFORMANCE, THE VICE PRESIDENT'S BONUS IS APPROVED AND DETERMINED BY THE BOARD. WARREN TODD RUTH TRUSTEES CONSTRUCT STUDENT HOUSING X 500000 230769 0 1 1 WARREN TODD RUTH TRUSTEES CONSTRUCT STUDENT HOUSING X 500000 269231 0 1 1 GEHRMANN CONRAD TRUSTEES CONSTRUCT STUDENT HOUSING X 50000 23077 0 1 1 523077 X 7 545323 FAIR MARKET VALUE X SUPPLIES 1 14658 0 0 1 0 SCHEDULE M, PART I, COLUMN (B) NUMBER OF CONTRIBUTORS. FORM 990, PART VI, SECTION A, LINE 2 RUTH AND TODD WARREN HAVE A FAMILIAL RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED BY STAFF AND RECONCILED TO THE AUDITED FINANCIALS. THE AUDIT CHAIR REVIEWS THE RECONCILIAITON AND RECOMMENDS THE FINANCE COMMITTEE SUBMIT THE 990 FOR BOARD APPROVAL. BOARD MEMBERS RECEIVE A COPY OF THE 990 WITH THE REQUEST FOR APPROVAL. THE APPROVED 990 IS SIGNED BY THE SECRETARY OF THE BOARD AND FILED ELECTRONICALLY. FORM 990, PART VI, SECTION B, LINE 12C OUR CONFLICT OF INTEREST POLICY IS DESIGNED TO HELP DIRECTORS, OFFICERS AND KEY EMPLOYEES OF THE ASHESI UNIVERSITY FOUNDATION IDENTIFY SITUATIONS THAT PRESENT POTENTIAL CONFLICTS OF INTEREST AND TO PROVIDE ASHESI UNIVERSITY FOUNDATION WITH A PROCEDURE WHICH, IF OBSERVED, WILL ALLOW A TRANSACTION TO BE TREATED AS VALID AND BINDING EVEN THOUGH A DIRECTOR, OFFICER OR EMPLOYEE HAS OR MAY HAVE A CONFLICT OF INTEREST WITH RESPECT TO THE TRANSACTION. BOARD MEMBERS ARE ASKED TO COMPLETE AN ANNUAL DISCLOSURE OF INTERESTS COVERING OUTSIDE INTERESTS, OUTSIDE ACTIVITIES, AND GIFTS, GRATUITIES, AND ENTERTAINMENT. ALL NEW TRUSTEES ARE REQUIRED TO REVIEW AND SIGN THE POLICY. THE GC REVIEWS ALL POLICIES ANNUALLY. PRIOR TO BOARD OR COMMITTEE ACTION ON A CONTRACT OR TRANSACTION INVOLVING A CONFLICT OF INTEREST, A DIRECTOR OR COMMITTEE MEMBER HAVING A CONFLICT OF INTEREST AND WHO IS IN ATTENDANCE AT THE MEETING SHALL DISCLOSE ALL FACTS MATERIAL TO THE CONFLICT OF INTEREST. SUCH DISCLOSURE SHALL BE REFLECTED IN THE MINUTES OF THE MEETING. A DIRECTOR OR COMMITTEE MEMBER WHO PLANS NOT TO ATTEND A MEETING AT WHICH HE OR SHE HAS REASON TO BELIEVE THAT THE BOARD OR COMMITTEE WILL ACT ON A MATTER IN WHICH THE PERSON HAS A CONFLICT OF INTEREST SHALL DISCLOSE TO THE CHAIR OF THE MEETING ALL FACTS MATERIAL TO THE CONFLICT OF INTEREST. THE CHAIR SHALL REPORT THE DISCLOSURE AT THE MEETING AND THE DISCLOSURE SHALL BE REFLECTED IN THE MINUTES OF THE MEETING. A PERSON WHO HAS A CONFLICT OF INTEREST SHALL NOT PARTICIPATE IN OR BE PERMITTED TO HEAR THE BOARD'S OR COMMITTEE'S DISCUSSION OF THE MATTER EXCEPT TO DISCLOSE MATERIAL FACTS AND TO RESPOND TO QUESTIONS. SUCH PERSON SHALL NOT ATTEMPT TO EXERT HIS OR HER PERSONAL INFLUENCE WITH RESPECT TO THE MATTER, EITHER AT OR OUTSIDE THE MEETING. A PERSON WHO HAS A CONFLICT OF INTEREST WITH RESPECT TO A CONTRACT OR TRANSACTION THAT WILL BE VOTED ON AT A MEETING SHALL NOT BE COUNTED IN DETERMINING THE PRESENCE OF A QUORUM FOR PURPOSES OF THE VOTE. THE PERSON HAVING A CONFLICT OF INTEREST MAY NOT VOTE ON THE CONTRACT OR TRANSACTION AND SHALL NOT BE PRESENT IN THE MEETING ROOM WHEN THE VOTE IS TAKEN, UNLESS THE VOTE IS BY SECRET BALLOT. SUCH PERSON'S INELIGIBILITY TO VOTE SHALL BE REFLECTED IN THE MINUTES OF THE MEETING. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE PRESIDENT IS REVIEWED PERIODICALLY BY THE BOARD OF TRUSTEES. THE PRESIDENT IS NOT PRESENT WHILE THE COMPENSATION IS BEING DISCUSSED. SALARIES OF US FOUNDATION PRESIDENTS AND GHANA UNIVERSITY CEO'S ARE CONSIDERED WHEN EVALUATING COMPENSATION. CHANGES TO THE COMPENSATION PACKAGE ARE APPROVED BY A VOTE OF THE BOARD. THE COMPENSATION FOR OTHER KEY EMPLOYEES IS REVIEWED ANNUALLY BY THE FOUNDATION BOARD CHAIR AND VICE PRESIDENT. ARCH BRIGHT SALARY SURVEY DATA IS USED FOR COMPARABILITY DATA FOR SIMILAR NON-PROFIT POSITIONS. COMPENSATION CHANGES ARE REVIEWED BY THE BOARD CHAIR AND ANNUALLY, THE COMPENSATION IS APPROVED BY THE VOTE OF THE BOARD IN THE ANNUAL BUDGET. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. ALL STAFF MEMBERS HAVE ACCESS TO THE POLICY DOCUMENTS. ASHESI UNIVERSITY FOUNDATION PUBLISHES YEARLY ANNUAL REPORTS WHICH INCLUDE SUMMARY INFORMATION FROM THE AUDITED FINANCIAL REPORTS. THE ANNUAL REPORTS AND THE AUDITED FINANCIAL STATEMENTS ARE POSTED ON OUR WEBSITE. ASHESI'S 990'S ARE AVAILABLE ON WEBSITE. FORM 990, PART XI, LINE 9: IN-KIND DISCOUNT HOUSING LOAN -2,747.