Ascend Foundation Inc

Analysis

Ascend Foundation Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in December 2006, 20 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 September 2023, Ascend Foundation Inc reported income of $2.7m and spending of $1.3m, leaving 51% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $432k to $2.7m (+523%), an average of +58% a year. The sharpest change came in the year to September 2020, when income rose by 177%. Over the whole period it spent 46% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Ascend Foundation Inc 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 88th percentile, and in the 85th percentile within NY. Charities of a similar size with the same main cause include North Central Wisconsin Workforce Development Board ($2.7m), Association for Financial Counselling & PLG Education USA ($2.7m) and Klamath Works Inc ($2.7m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 91% and program service revenue 4.2% of the total. Other salaries and wages came to $320k. At year end it held assets of $7.3m against liabilities of $843k, net assets of $6.4m. It reported 7 employees.