Ascent for Life Inc

Analysis

Ascent for Life Inc is a registered charity in United States, based in Milwaukee, WI. It received its IRS tax-exemption ruling in July 2015, 11 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, Ascent for Life Inc reported income of $174k and spending of $185k, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $69k to $174k (+153%), an average of +26% a year. The sharpest change came in the year to December 2020, when income rose by 145%. Over the whole period it spent 102% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Ascent for Life Inc sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 50th percentile within WI. Charities of a similar size with the same main cause include Advanced Mila Studies Inc ($174k), Hope 2 Others ($174k) and Inside-Out Thrift Store Ministries Inc ($174k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $83k. At year end it held assets of $32k against liabilities of $40k, net assets of -$8,562. It reported 14 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.