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Dace Foundation EIN 38-4116440 Form 990 (PDF) Claim this org

Dace Foundation FY2021 filing

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Provides financial, educational, and social support to underserved Ghanaian students. For fiscal year 2021 it reported $82K in revenue, — in expenses, and $68K in net assets.Pt I

Founded
2019
Type
Public charity (501(c)(3)) · Education
Location
Frederick, MD
Website
www.dace-foundation.org
Filings
5 on file (2021–2021)
Revenue
$82KFY2021
Expenses
—
Net assets
$68K
People
5
Filings
5
Updates
0
More identity details & actions ⌄
EIN  38-4116440 Public charity (501(c)(3)) Frederick, MD Founded 2019
Form 990 (PDF)
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →
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Size
<$100K
What they do
Provides financial, educational, and social support to underserved Ghanaian students.
Leadership
Wilfred Yartey · President and CEO
Money in and out
$82K revenue
Bottom line
9.1mo operating runway
Where the money goes · FY2021
Total revenue
$82K
Pt VIII · Ln 12
Total expenses
—
Pt IX · Ln 25
Net assets
$68K
Pt X · Ln 32
Operating runway
9.1mo
months of highly liquid reserves at operating expense rate
Surplus margin
+66%
revenue over expenses, this year
Donor-funded
100%
of revenue is gifts & grants

Summary of the Filing

Part I · fiscal year 2021 · Form 990-EZ
Revenue
$82K
FY2021
Expenses
—
FY2021
Total assets
—
FY2021
Total liabilities
$25K
FY2021
Total revenue
$82K
Pt VIII · Ln 12
Total expenses
—
Pt IX · Ln 25
Net assets
$68K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19—
Total assetsPt X · Ln 16—
Program-expense ratioPt IX · col B—
Voting members of governing bodyPt I · Ln 3pending
Independent voting membersPt I · Ln 4pending

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CDace Foundation
EINHdr · item D38-4116440
Principal addressHdr · item CFrederick, MD
WebsiteHdr · item Jwww.dace-foundation.org
Year of formationHdr · item L2019
State of legal domicileHdr · item MMD
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B20)
Ruling yearIRS BMFJul 2019

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1apending
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12a—
Whistleblower policyPt VI · Ln 13—
Document retention policyPt VI · Ln 14—
CEO/top-official compensation independently reviewedPt VI · Ln 15a—
Family or business relationships among officers/directorsPt VI · Ln 2—

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Wilfred Yartey
President and CEO
$0Pt VII · Sec A
Daniel Payne
Director - Junior High School & Senior High School
$0Pt VII · Sec A
Frank Justice Atta
Director - University & Tertiary Institutions
$0Pt VII · Sec A
Dennis Mensah Sarbah
Financial Controller
$0Pt VII · Sec A
Ransford Mensah Sarbah
Director - Operations & Student Affairs
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Other revenue100%$82K
Total revenueLn 12$82K

Balance Sheet

Part X · end of year
CashLn 1—
Total assetsLn 16—
Total liabilitiesLn 26$25K
Total net assetsLn 32$68K

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $21K · Operating expenses/yr $28K
9.1 months
Where the money goes
Program services
not reported
Management & General
not reported
Fundraising
not reported
Cost to raise $1
not reported
Where the money comes from
Contribution dependence
Contributions & grants $82K · Total revenue $82K
100%
Government reliance
not reported
Earned-income share
Program service revenue $0 · Total revenue $82K
0%
Investment reliance
Investment income $0 · Total revenue $82K
0%
Program self-sufficiency
Program service revenue $0 · Total expenses $28K
0%
Growth & trend
Revenue growth (YoY)
This year $82K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $68K · Beginning of year $14K
+388%
Balance sheet
Surplus Margin
Revenue $82K · Expenses $28K
+66%
Liabilities-to-Assets
Total liabilities $25K · Total assets $93K
27%
Net-asset ratio
Net assets $68K · Total assets $93K
73%
People & payroll
Highest Reported Total Compensation
Individual Wilfred Yartey · Reported title President and CEO · Highest reported compensation $0 · Total expenses $28K
0%
Personnel share
Salaries & benefits $6K · Total expenses $28K
20%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown. Peer cohort: .

Grants

Schedule I · funders on record
Grants received · FY2024
American Online Giving Foundation INCFY2024$25K
Total grants receivedfrom 1 funder$25K

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$48K revenue · ⤓ 990 PDF
FY2024$52K revenue · ⤓ 990 PDF
FY2023$44K revenue · ⤓ 990 PDF
FY2022$34K revenue · ⤓ 990 PDF
FY2021$82K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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