Ascendus Inc

Organization Overview

Ascendus Inc is located in New York, NY. The organization was established in 1997. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Ascendus Inc employed 50 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ascendus Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 12/2021, Ascendus Inc generated $14.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.0% each year. All expenses for the organization totaled $7.8m during the year ending 12/2021. While expenses have increased by 2.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

ASCENDUS EMPOWERS LOW-TO-MODERATE INCOME BUSINESS OWNERS THROUGH ACCESS TO CAPITAL FINANCIAL EDUCATION. WITH ECONOMIC OPPORTUNITY, THESE ENTREPRENEURS, OFTEN MINORITIES AND WOMEN, CAN BUILD ASSETS, BETTER PROVIDE FOR THEIR FAMILIES, CREATE EMPLOYMENT AND STRENGTHEN THEIR COMMUNITIES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

ASCENDUS HAS TWO PRIMARY PROGRAMS, THE LARGEST OF WHICH IS THE PROVISION OF MICROLOANS AND DEVELOPMENT SERVICES TO MICRO-ENTREPRENEURS (I.E., ENTREPRENEURS THAT EMPLOY FIVE OR LESS EMPLOYEES). WE SERVE LOW-TO MODERATE-INCOME, MINORITY, IMMIGRANT AND WOMEN ENTREPRENEURS, POPULATIONS THAT LACK ACCESS TO MAINSTREAM CREDIT SOURCES. WITH ACCESS TO CREDIT, OUR CLIENTS GO ON TO BUILD ASSETS, GROW HOUSEHOLD INCOMES AND CREATE JOBS FOR THEMSELVES AND OTHERS WITHIN THEIR LOCAL COMMUNITIES.


ASCENDUS IS A CERTIFIED COMMUNITY ADVANTAGE LENDER UNDER THE U.S. SMALL BUSINESS ADMINISTRATION. THROUGH THIS PROGRAM, ASCENDUS OFFERS SMALL BUSINESS LOANS RANGING FROM $50,000 TO $250,000 AND TECHNICAL ASSISTANCE TO SMALL BUSINESS OWNERS IN THE FOURTEEN STATES IN WHICH IT IS CERTIFIED (FL, GA, SC, NC, VA, MD, DE, PA, NJ, NY, CT, MA, RI, NH). LOANS ARE PARTIALLY GUARANTEED BY THE SBA AND HAVE TERMS UP TO 10 YEARS, PROVIDING ASCENDUS THE FLEXIBILITY TO LEND GROWING SMALL BUSINESSES, WITHOUT SACRIFICING THE AFFORDABLE PAYMENTS THAT MAKE OUR LOANS ACCESSIBLE TO UNDERSERVED BUSINESSES.


Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Your Part Time Controller
Financial Services
$122,729
Fifteen Degrees Llc - Eft-ach
Brand Development
$103,360
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $2,657,885
All other contributions, gifts, grants, and similar amounts not included above$5,376,126
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$8,034,011
Total Program Service Revenue$5,977,096
Investment income $8,607
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $14,588,685

Grants Recieved

Over the last fiscal year, we have identified 20 grants that Ascendus Inc has recieved totaling $1,189,881.

Awarding OrganizationAmount
Robin Hood Foundation

New York, NY

PURPOSE: POVERTY RELIEF

$225,000
Bank Of America Charitable Foundation Inc

Charlotte, NC

PURPOSE: OPERATIONAL SUPPORT

$150,000
Clark Foundation

New York, NY

PURPOSE: GENERAL SUPPORT FOR NEW YORK PROGRAM

$150,000
Opportunity Finance Network

Philadelphia, PA

PURPOSE: OFNS SMALL BUSINESS GRANT PROGRAM FUNDED BY GOOGLE.ORG

$125,000
The Blackbaud Giving Fund

Charleston, SC

PURPOSE: GENERAL SUPPORT

$100,900
The Blackbaud Giving Fund

Charleston, SC

PURPOSE: GENERAL SUPPORT

$100,900
View Grant Recipient Profile

Create an account to unlock the data you need.

or