2023-12-06T14:21:05-06:00 2022-12-31 980689188 DNTW TORONTO LLP 703-45 SHEPPARD AVENUE EAST TORONTO ONTARIO CA M2N 5W9 990 2022-01-01 981726846 ASHESI UNIVERSITY FOUNDATION CANADA ASHE 6474822325 507 KING STREET EAST 320 TORONTO ONTARIO CA M5A 1M3 MEREDITH LEE EXECUTIVE DIRECTOR 6472987058 2023-12-06 1 MEREDITH LEE 888008888 0 RANDEEP CHANA P01710214 4166382000 2023-12-06 0 AAL1 IAL1 2022 2023-04-26 12:10:37Z X MEREDITH LEE 507 KING STREET EAST 320 TORONTO ONTARIO CA M5A 1M3 194820508 0 X HTTPS://WWW.ASHESI.ORG/ABOUT/FOUNDATION-CANADA/ X 2020 CA THE FOUNDATION WAS ENGAGED IN PLANNING ITS EDUCATIONAL ACTIVITIES, INCLUDING CONFERENCE AND WORKSHOPS ON POST-SECONDARY EDUCATION IN AFRICA, AND SCHOLARSHIPS FOR POST-SECONDARY STUDENTS IN AFRICA. THE FOUNDATION INITIATED ITS FIRST SERIES OF SCHOLARSHIPS TO POST-SECONDARY STUDENTS IN AFRICA THIS YEAR. 1 1 0 0 -110043 0 67320702 193904290 0 -110043 0 67320702 193794247 312971 0 37868 0 0 810465 359321 810465 710160 66510237 193084087 66517285 246448010 7048 56585 66510237 246391425 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. 0 0 312971 312971 PROVIDING FINANCIAL ASSISTANCE/SCHOLARSHIP/FELLOWSHIP TO POST-SECONDARY STUDENDS IN ASHESI UNIVERSITY LBG IN GHANA. 312971 1 0 0 0 0 0 0 0 0 1 0 1 0 0 1 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 1 1 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 X MEREDITH LEE 5198844245 507 KING STREET EAST UNIT 320 TORONTO ONTARIO CA M5A 1M3 EMER DOOLEY BOARD SECRETARY 1.00 X 0 0 0 PAUL FIEGUTH BOARD DIRECTOR 1.50 X 0 0 0 MATEKO AZU BOARD DIRECTOR 0.50 X 0 0 0 PATRICK AWUAH BOARD CHAIR 1.00 X 0 100000 0 MEREDITH LEE EXECUTIVE DIRECTOR 40.00 X 115269 0 12295 115269 100000 12295 1 0 0 0 0 193904290 193904290 916218 916218 1026261 -1026261 -1026261 -1026261 193794247 0 -110043 0 X 312971 312971 37868 37868 224157 224157 82468 82468 52696 52696 710160 312971 397189 0 148902 117326 66368383 246325157 0 5527 66517285 246448010 7048 31877 0 24708 7048 56585 X 0 0 0 0 66510237 246391425 66510237 246391425 66517285 246448010 X 193084087 -1266576 -11936323 X X 0 0 0 X 67320702 193904290 261224992 67320702 193904290 261224992 261224992 261224992 1.00000 X 66510237 193904290 -13312942 312971 0 397189 246391425 0 67320702 -803271 7194 66510237 0.00281 0.99719 0 0 0 246325157 F 246325157 DUE TO RELATED PARTY 24708 24708 191811687 -1266576 -715984 -1982560 193794247 0 193794247 710160 0 710160 0 710160 PART XI, LINE 2D - OTHER ADJUSTMENTS: LOSS ON FOREIGN EXCHANGE -715,984. 0 0 0 0 0 0 0 0 0 0 SUB-SAHARAN AFRICA SCHOLARSHIPS TO POST-SECONDARY STUDENTS IN AFRICA. 312971 0 0 0 0 0 0 0 PART III ACCOUNTING METHOD: FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 NEED TO BE APROVED BY THE BOARD OF DIRECTORS BEFORE IT WAS FILED. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION IS CLASSIFIED AS A PRIVATE CHARITABLE FOUNDATION AS DEFINED IN PARAGRAPH 149.1(1) OF THE INCOME TAX ACT (CANADA)[THE "ACT"] AND, THEREFORE, IS REQUIRED TO PROVIDED AUDIT REPORT AVAILABLE FOR PUBLIC INSPECTION ANNUALLY. FORM 990, PART IX, LINE 11G PROFESSIONAL AND CONSULTING FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 82,468. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 82,468. FORM 990, PART XI, LINE 9: FOREIGN EXCHANGE RATE DIFFERENCE -11,936,323. FORM 990, PART XII, LINE 1: THE FOUNDATION FOLLOWS THE RESTRICTED FUND METHOD OF ACCOUNTING FOR CONTRIBUTIONS. ASHESHI UNIVERSITY FOUNDATION 1201 3RD AVE 2200 SEATTLE WA 98101 911997089 TO PROVIDE SUPPORT FOR EDUCATIONAL OPPORTUNITIES IN GHANA WA 501(C)(3) 0 ASHESHI UNIVERSITY 1 UNIVERSITY AVE BEREKUSO ACCRA GH UNIVERSITY GH FOREIGN NON PROFIT 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 ASHESHI UNIVERSITY FOUNDATION CANADA INC. IS A CANADIAN NOT FOR PROFIT ORGANIZATION. IT RECEIVED A K-1 IN 2022 FOR SOME PASSIVE INVESTMENTS IT HOLDS IN THE UNITED STATES. ASHESHI FOUNDATION IS A CANADIAN CHARITY EXEMPT FROM ANY US TAXATION UNDER ARTICLE XXI, PARAGRAPH 4 OF THE CANADA US INCOME TAX TREATY. EARLIER IN THE YEAR, THE FOUNDATION CONSULTED WITH US REGARDING ANY COMPLIANCE REQUIREMENT, AND WE SUGGESTED FILING A TREATY BASED TAX RETURN. THE FOUNDATION'S MANAGEMENT APPLIED FOR THE EIN NUMBER OVER THE PHONE IN MARCH 2023. REGRETTABLY, DUE TO A MISCOMMUNICATION OR OVERSIGHT DURING THE APPLICATION PROCESS, THE DIRECTOR CANNOT RECALL IF THE AGENT CONFIRMED THE CORRECT YEAR END FOR THE FOUNDATION DURING THAT CONVERSATION.UPON REALIZING THE APPROACHING DEADLINE, THE FOUNDATION FILED FORM 8868 ON MAY 8, 2023, IN A DILIGENT EFFORT TO REQUEST ADDITIONAL TIME TO FILE THE 2022 INFORMATION RETURN. HOWEVER, TO OUR DISMAY, THE REQUEST WAS REJECTED, CITING A DISCREPANCY BETWEEN THE ENDING DATE OF THE FOUNDATION AS PROVIDED AND THE DATA IN THE E-FILING DATABASE. AS THE FOUNDATION APPLIED FOR THE EIN VIA PHONE, AND THE FOUNDATION DID NOT RECEIVE ANY PHYSICAL NOTICE THROUGH MAIL REGARDING THE EIN ISSUANCE (NOT SURE IF A NOTICE WAS ACTUALLY SENT OUT OR LOST DURING THE INTERNATIONAL MAILING) AND THEREFORE LACK CONFIRMATION OF THE DATE THAT THE IRS DATABASE CONTAINS.I WANT TO ASSURE YOU THAT THE FOUNDATION TAKES ITS TAX OBLIGATIONS SERIOUSLY AND IS COMMITTED TO RECTIFYING THIS SITUATION PROMPTLY. WE GATHERED ALL NECESSARY INFORMATION AND PREPARED THE ACCURATE INFORMATION RETURN AS SOON AS POSSIBLE. GIVEN THE CIRCUMSTANCES, WE REQUEST YOU ACCEPT THE INFORMATION RETURN AS TIMELY FILED. ALSO, ENCLOSED, YOU WILL FIND A COPY OF THE FORM 8868 FILING REJECTION AND FORM 2848 POWER OF ATTORNEY AND DECLARATION OF REPRESENTATIVE.WE APPRECIATE YOUR TIME AND ATTENTION TO THIS MATTER AND ASSURE YOU THAT WE ARE DEDICATED TO ENSURING COMPLIANCE WITH ALL IRS REGULATIONS MOVING FORWARD ON A TIMELY BASIS.SHOULD YOU REQUIRE ANY ADDITIONAL INFORMATION OR DOCUMENTATION FROM OUR END, PLEASE DO NOT HESITATE TO CONTACT ME AT RANDY.CHANA@DNTWTORONTO.COM OR 416-638-2000 EXT. 230.