Ascent Funding Organization

Analysis

Ascent Funding Organization is a registered charity in United States, based in Deer Park, NY. It received its IRS tax-exemption ruling in October 1998, 28 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Ascent Funding Organization reported income of $54k and spending of $57k, spending 106% of what it took in. Across the 5 years on record, from June 2018 to June 2024, income fell from $318k to $54k (-83%), an average of -36% a year. The sharpest change came in the year to June 2024, when income dropped by 69%. Over the whole period it spent 99% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Ascent Funding Organization sits at the 23rd percentile: it is larger than about 23% of them. Against every charity in United States with reported income it ranks in the 21st percentile, and in the 23rd percentile within NY. Charities of a similar size with the same main cause include Orting Alumni Scholarship Foundation ($54k), Tucker W Hipps Memorial Foundation ($54k) and Norway Knights Athletic Booster Club ($54k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 16% of the total. At year end it held assets of $15k against liabilities of $0, net assets of $15k.