Ascendant Neighborhood Development Corporation

Analysis

Ascendant Neighborhood Development Corporation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in September 1990, 36 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Ascendant Neighborhood Development Corporation reported income of $136k and spending of $461k, spending 339% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $4.4m to $136k (-97%), an average of -58% a year. The sharpest change came in the year to December 2023, when income dropped by 90%. Over the whole period it spent 150% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Ascendant Neighborhood Development Corporation sits at the 29th percentile: it is larger than about 29% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 43rd percentile within NY. Charities of a similar size with the same main cause include Elderly Housing Inc ($136k), Hempfield Apartments Inc ($136k) and Trinity Village Non-Profit Housing Corporation ($136k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 55% and program service revenue 45% of the total. At year end it held assets of $2.1m against liabilities of $2.7m, net assets of -$602k. It reported 9 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.