Ascent College

Analysis

Ascent College is a registered charity in United States, based in Gainesville, VA. It received its IRS tax-exemption ruling in February 1995, 31 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Ascent College reported income of $715k and spending of $828k, spending 116% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $224k to $715k (+218%), an average of +34% a year. The sharpest change came in the year to June 2021, when income rose by 101%. Over the whole period it spent 100% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Ascent College sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 75th percentile within VA. Charities of a similar size with the same main cause include St John No 5 Baptist Church Inc ($714k), Chevrah Lomdei Mishnah Inc ($715k) and LA Primera Iglesia Bautista Hispana de Manhattan S B C ($714k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 77% and program service revenue 23% of the total. Other salaries and wages came to $452k. At year end it held assets of $329k against liabilities of $175k, net assets of $154k. It reported 13 employees.