Ascendant Neighborhood Development Corporation
- Assets
- $39.5m
- Revenue
- $4.4m
- Investments
- -$5.0m
- Employees
- 10
- Location
- New York, NY
- Founding
- 09/1990
- Data as of
- 12/2021
- EIN
- 13-3620671
Organization Overview
Ascendant Neighborhood Development Corporation is located in New York, NY. The organization was established in 1990. According to its NTEE Classification (L80) the organization is classified as: Housing Support, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Ascendant Neighborhood Development Corporation employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ascendant Neighborhood Development Corporation 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, Ascendant Neighborhood Development Corporation generated $4.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 32.2% each year . All expenses for the organization totaled $8.3m during the year ending 12/2021. While expenses have increased by 31.4% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
IMPROVE THE QUALITY OF LIFE FOR THE ELDERLY. AND'S MISSION IS TO BUILD A BETTER QUALITY OF LIFE FOR NEW YORK'S ELDERLY. THOSE WHO WERE FORMERLY HOMELESS, AND INDIVIDUALS OF LOW TO MODERATE INCOME, BY PROVIDING THEM WITH CLEAN, SAFE HOUSING AND SUPPORTIVE SERVICES THAT HELP THEM LEAD INDEPENDENT AND FULFILLING LIVES SINCE OPENING ITS FIRST SITE IN 1988, AND HAS GROWN TO BECOME A LEADING FORCE IN REVITALIZING THE CHANGING EAST HARLEM COMMUNITY, HELPING THOUSANDS OF NEW YORKERS LIVE WITH DIGNITY AND RESPECT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COORDINATION AND ADMINISTRATION OF PROGRAMS FROM THE REHABILITATION AND RENTAL OF APARTMENTS TO LOW-INCOME FAMILIES AND INDIVIDUALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Cirillo Executive Dir/ President | OfficerTrustee | 40 | $195,000 |
Nadia Drew Secretary | OfficerTrustee | 1 | $0 |
Kristina Wiig Treasurer | OfficerTrustee | 1 | $0 |
Rocco Papandrea Vice Chairman | OfficerTrustee | 1 | $0 |
John Warren Board Chairman | OfficerTrustee | 1 | $0 |
Peter Handal Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $172,155 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $172,155 |
| Total Program Service Revenue | $4,109,707 |
| Investment income | $70,255 |
| 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 | $4,446,577 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $234,641 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,029,935 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $64,949 |
| Payroll taxes | $64,742 |
| Fees for services: Management | $228,820 |
| Fees for services: Legal | $302,536 |
| Fees for services: Accounting | $8,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,903 |
| Advertising and promotion | $1,086 |
| Office expenses | $78,232 |
| Information technology | $24,571 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,167 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,360,401 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,204,686 |
| Insurance | $522,666 |
| All other expenses | $14,893 |
| Total functional expenses | $8,349,028 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,645,174 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $751,235 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $263,772 |
| Net Land, buildings, and equipment | $34,639,094 |
| Investments—publicly traded securities | $13,857 |
| Investments—other securities | -$5,045,793 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,261,604 |
| Total assets | $39,528,943 |
| Accounts payable and accrued expenses | $4,197,790 |
| Grants payable | $0 |
| Deferred revenue | $74,387 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $335,210 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $48,235,795 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,483,654 |
| Total liabilities | $55,326,836 |
| Net assets without donor restrictions | -$15,797,893 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $39,528,943 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Ascendant Neighborhood Development Corporation has recieved totaling $13,710.
| Awarding Organization | Amount |
|---|---|
Preservation League Of New York State Albany, NY PURPOSE: SOUTHERN EAST HARLEM - CULTURAL RESOURCE SURVEY | $12,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $1,000 |
Jp Morgan Chase Foundation New York, NY PURPOSE: GENERAL OPERATING SUPPORT | $700 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $10 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Womens Housing And Economic Development Corporation Bronx, NY | $29,527,353 | $27,859,543 |
Joint Ownership Entity New York City Corp New York, NY | $155,995,039 | $17,434,025 |
Breaking Ground Housing Development Fund Corporation New York, NY | $193,138,085 | $25,961,669 |
Highland Park Community Development Corporation Brooklyn, NY | $3,265,910 | $15,414,103 |
Centerboard Inc Lynn, MA | $21,186,335 | $15,673,773 |
Beyond Owners Group Inc Willow Street, PA | $131,731,512 | $8,827,345 |
Springpoint Senior Living Inc Cherry Hill, NJ | $72,542,176 | $10,591,630 |
Interstate I Affordable Housing Inc New York, NY | $783,725 | $8,991,908 |
Ascendant Neighborhood Development Corporation New York, NY | $39,528,943 | $4,446,577 |
University Properties Inc East Stroudsburg, PA | $58,514,914 | $5,926,957 |
Michaels Community Services Corporation Camden, NJ | $48,473,807 | $8,637,574 |
Rebuilding Together Pittsburgh Pittsburgh, PA | $2,584,527 | $5,910,311 |