Overview
What is Ascendus Inc?
Ascendus Inc is a New York-based nonprofit organization dedicated to empowering low-to-moderate income entrepreneurs, mainly from minority and women populations, by providing them with microloans and development services. These entrepreneurs often struggle to access mainstream credit sources. By granting access to credit, Ascendus enables its clients to build assets, increase household income, create jobs within their communities, and ultimately improve their economic situations. The organization's mission is rooted in financial education and economic opportunity, giving these entrepreneurs a chance to strengthen their families and communities. Ascendus employs a team of 48 individuals.
Official website here: www.ascendus.org
What are the reviews and ratings of this charity?
Charity Navigator Rating 94% - Four-Star out of Four Star rating
Ascendus Inc, also known as ACCION USA, has received a commendable Four-Star rating from Charity Navigator, reflecting high accountability and finance standards. The organization excels in governance, with a fully independent board and robust financial oversight measures. The financial metrics indicate a strong commitment to its mission, with over 83% of expenses directed towards programs and efficient fundraising practices.
User feedback on platforms like Great Nonprofits highlights the positive experiences of volunteers and professionals alike. Reviewers commend Ascendus for its impactful work in providing credit to small business owners who struggle to access traditional loans. This not only supports individual entrepreneurs but also fosters job creation in local communities, underscoring the organization’s ripple effect on economic growth.
While the organization’s financial ratios are generally strong, there is a note regarding its liabilities to assets ratio, which stands at 48.69%. This may suggest a need for ongoing monitoring to ensure financial stability in the long term. Overall, Ascendus Inc is well-regarded for its mission-driven work and effective financial management.
This AI summary has been generated from information found on Charity Navigator and Great Nonprofits.
Is Ascendus Inc legitimate?
Ascendus Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ascendus Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $755,914
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,713,279
For more financial information, click here
Official website here: www.ascendus.org
What is the mission statement of Ascendus Inc?
Ascendus Inc empowers low-to-moderate income entrepreneurs by providing them with access to capital and financial education. With economic opportunities, these entrepreneurs, often minorities and women, can build assets, improve their families' livelihoods, and create employment. The organization's primary programs include the provision of microloans and development services to micro-entrepreneurs. Through these initiatives, Ascendus helps clients gain access to credit, leading to the growth of assets, increased household incomes, and the creation of jobs within their local communities.
Official website here: www.ascendus.org
Who is the CEO of Ascendus Inc?
Paul Quintero is the Director of Ascendus Inc. The CEO's salary of Ascendus Inc is $387,981 and their total compensation is $417,339.
Official website here: www.ascendus.org
What is the revenue of Ascendus Inc?
Ascendus Inc's revenue in 2022 was $13,403,959.
Official website here: www.ascendus.org
Who are the executives of Ascendus Inc and what are their salaries?
The average compensation at Ascendus Inc during 2022 was $93,108. There are 48 employees and 16 volunteers at Ascendus Inc.
Here are 24 key members and their salaries (Ascendus Inc's CEO's salary is $387,981 and their total compensation is $417,339):
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- Compensation: $387,981
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- Compensation: $133,171
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- Other: $28,312
- Compensation: $137,420
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- Other: $29,518
Official website here: www.ascendus.org
Where can I find the form 990 for Ascendus Inc?
Ascendus Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ascendus.org
Learn more at the official website: www.ascendus.org
Mission Statement of Ascendus Inc
Ascendus Inc, a nonprofit organization, strives to empower low-to-moderate income entrepreneurs by providing them with access to capital and financial education. By offering economic opportunities, Ascendus enables these entrepreneurs, who are often minorities and women, to build assets, improve their family livelihoods, and create employment opportunities within their communities.
Ascendus' primary programs focus on extending microloans and development services to micro-entrepreneurs. Serving populations that struggle to access mainstream credit sources, Ascendus aims to bridge the gap and help entrepreneurs realize their business potential. With access to credit, Ascendus clients can grow their household incomes, establish businesses, and create jobs for themselves and their neighbors. This, in turn, strengthens the overall community, fostering economic growth and self-sufficiency.
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Impact
October, 2024
Ascendus Inc significantly impacts the economic landscape for low-to-moderate income business owners, particularly among minorities and women. By providing access to microloans and essential financial education, Ascendus equips entrepreneurs who typically face barriers in accessing mainstream credit sources. This support enables them to build assets, increase household incomes, and create job opportunities within their communities.
Through its primary programs, Ascendus empowers micro-entrepreneurs to cultivate their businesses, leading to enhanced financial stability and growth. As these entrepreneurs thrive, they contribute to the overall improvement of their communities, fostering an environment of economic opportunity and empowerment. The work of Ascendus not only strengthens individual businesses but also enriches families and bolsters the community fabric, driving positive change and development throughout the regions it serves.
This information is meant to be a general summary of Ascendus Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: -$1,048
- Program Service Revenue: $3,194,209
- Gross Receipts: $40,729,583
Assets and Liabilities:
- Total Assets: $40,451,243
- Total Liabilities: $19,696,954
- Net Assets: $20,754,289
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM FEES
Revenue
$2,272,018
LOAN PORTFOLIO INCOME
Revenue
$922,191
Organization Details
Founding Year
1996
Phone
(646) 833-4514Principal Officer
Paul Quintero
Main Address
25 BROADWAY FLOOR 10, NEW YORK, NY, 10004
Website
www.ascendus.orgNTEE Category
Code: S400 - Community improvement
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