Masonic Ascent Association Inc
- Assets
- $4.9k
- Revenue
- $118.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Virginia Beach, VA
- Founding
- 10/2014
- Data as of
- 12/2022
- EIN
- 46-5249678
Organization Overview
Masonic Ascent Association Inc is located in Virginia Beach, VA. The organization was established in 2014. According to its NTEE Classification (Y42) the organization is classified as: Domestic Fraternal Societies, under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Masonic Ascent Association Inc is a 501(c)(10) and as such, is described as a "Domestic Fraternal Society and/or Association" by the IRS.
For the year ending 12/2022, Masonic Ascent Association Inc generated $118.8k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.0% each year . All expenses for the organization totaled $113.9k during the year ending 12/2022. While expenses have increased by 11.4% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
LODGE AWARENESS & COMMUNITY SUP AWARENESS OF ISSUES IN THE LOCAL COMMUNITY AND SUPPORT
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPONSORSHIP AND GRANTS FOR STUDENTS WHO WANT TO PARTICIPATE IN THE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laverne Armstr CEO & Chairman | Officer | 5 | $0 |
Marshall Todma Secretary | Officer | 1 | $0 |
Ernest Chandla Treasurer | Officer | 1 | $0 |
Edward Armstro Director | Trustee | 5 | $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 | $1,370 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,370 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $6,475 |
| Net Gain/Loss on Asset Sales | $110,966 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $118,811 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $74,087 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,140 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,291 |
| Advertising and promotion | $9,590 |
| Office expenses | $1,160 |
| Information technology | $646 |
| Royalties | $0 |
| Occupancy | $9,541 |
| Travel | $1,732 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $756 |
| All other expenses | $0 |
| Total functional expenses | $113,872 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,939 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,939 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $4,939 |
| 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 | $4,939 |
Grants Awarded
Over the last fiscal year, Masonic Ascent Association Inc has awarded $72,450 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
SABERATION INC PURPOSE: STUDENT GR | $31,405 |
COMPETITIVE LIGH PURPOSE: SPONSORSHI | $12,045 |
IMPERIAL SABERS PURPOSE: SUPPLIES | $29,000 |