Ascendus Inc
Ascendus Inc reports a $2.5 million deficit in 2023, following years of revenue growth and asset accumulation.
EIN: 113317234 · New York, NY · NTEE: S400 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $12.2M |
| Total Expenses | $13.2M |
| Program Spending | 80% |
| Net Assets | $18.0M |
| Transparency Score | 85/100 |
Is Ascendus Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Ascendus Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Ascendus Inc
Ascendus Inc (EIN: 113317234) is a nonprofit organization based in New York, NY, classified under NTEE code S400. The organization reported total revenue of $12.2M and total assets of $61.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Ascendus Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Ascendus Inc is a large nonprofit that has been operating for 29 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 5.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $10.6M |
| Total Expenses | $13.2M |
| Surplus / Deficit | $-2,547,800 |
| Total Assets | $44.5M |
| Total Liabilities | $26.5M |
| Net Assets | $18.0M |
| Operating Margin | -23.9% |
| Debt-to-Asset Ratio | 59.6% |
| Months of Reserves | 40.5 months |
Financial Health Grade: C
In 2023, Ascendus Inc reported a deficit of $2.5M with expenses exceeding revenue, holds 40.5 months of operating reserves (strong position), has a debt-to-asset ratio of 59.6% (high leverage).
Financial Trends
Over 14 years of filings (2010–2023), Ascendus Inc's revenue has grown at a compound annual growth rate (CAGR) of 5.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -20.6% | +45.6% | +10.0% |
| 2022 | -8.1% | +15.7% | -11.6% |
| 2021 | +17.8% | -14.6% | +38.8% |
| 2020 | +75.4% | +2.5% | +45.7% |
| 2019 | -1.8% | -21.3% | -6.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1997 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Ascendus Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Ascendus Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $2.5M, with expenses exceeding revenue.
- Debt-to-asset ratio: 59.6%.
Executive Compensation Analysis
Ascendus Inc consistently reports 0% officer compensation across all available filings, indicating that its executive leadership is either unpaid or compensated through non-officer categories, which is highly favorable for financial transparency and donor trust.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Ascendus Inc's IRS 990 filings:
- Expenses exceeded revenue by $2.5 million in the latest 2023 filing, indicating a recent operational deficit.
Strengths
The following positive indicators were identified for Ascendus Inc:
- Consistent reporting of 0% officer compensation, demonstrating high transparency in executive pay.
- Significant growth in assets over the past decade, from $15.1 million in 2014 to $44.4 million in 2023, indicating strong financial stability.
- Generally strong revenue streams and positive net income in most years, supporting long-term sustainability.
- Favorable asset-to-liability ratio, suggesting good solvency and ability to meet financial obligations.
Frequently Asked Questions about Ascendus Inc
Is Ascendus Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Ascendus Inc (EIN: 113317234) some concerns. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
How does Ascendus Inc spend its money?
Ascendus Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Ascendus Inc tax-deductible?
Ascendus Inc is registered as a tax-exempt nonprofit (EIN: 113317234). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Ascendus Inc's spending goes to programs?
Ascendus Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Ascendus Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Ascendus Inc is above average for NTEE category S400 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Ascendus Inc located?
Ascendus Inc is headquartered in New York, New York and files with the IRS under EIN 113317234. It is classified under NTEE code S400.
How many years of IRS 990 filings does Ascendus Inc have?
Ascendus Inc has 14 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $12.2M in total revenue.
Is Ascendus Inc a good charity?
Based on the available data, Ascendus Inc appears to be a good charity. It has a strong track record of asset growth, indicating financial stability, and excellent transparency regarding executive compensation (0%). While the latest filing shows a deficit, its long-term financial health and consistent mission focus (NTEE S400 - Microfinance) are positive indicators.
What caused the deficit in the 2023 fiscal year?
The provided data does not specify the exact causes for the $2.5 million deficit in the 2023 fiscal year (Expenses $13,189,359 vs. Revenue $10,641,559). It could be due to increased program delivery costs, strategic investments, or a temporary dip in funding. Further detailed financial statements would be needed to understand this.
How has Ascendus Inc's financial health changed over the last decade?
Ascendus Inc has shown significant financial growth over the last decade. Its assets have nearly tripled from $15.1 million in 2014 to $44.4 million in 2023, and annual revenue has generally increased, demonstrating a strong upward trend in organizational capacity and reach.
Filing History
IRS 990 filing history for Ascendus Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Ascendus Inc's revenue has grown by 92.1%, moving from $5.5M to $10.6M. Total assets increased by 259.2% over the same period, from $12.4M to $44.5M. Total functional expenses rose by 270.9%, from $3.6M to $13.2M. In its most recent filing year (2023), Ascendus Inc reported a deficit of $2.5M, with expenses exceeding revenue. The organization holds $26.5M in liabilities against $44.5M in assets (debt-to-asset ratio: 59.6%), resulting in net assets of $18.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $10.6M | $13.2M | $44.5M | $26.5M | — | — |
| 2022 | $13.4M | $9.1M | $40.5M | $19.7M | — | View 990 |
| 2021 | $14.6M | $7.8M | $45.8M | $29.4M | — | View 990 |
| 2020 | $12.4M | $9.2M | $33.0M | $24.2M | — | View 990 |
| 2019 | $7.1M | $8.9M | $22.6M | $17.0M | — | View 990 |
| 2018 | $7.2M | $11.4M | $24.2M | $16.7M | — | View 990 |
| 2017 | $9.2M | $7.7M | $27.8M | $16.1M | — | View 990 |
| 2016 | $8.6M | $7.4M | $25.5M | $15.3M | — | View 990 |
| 2015 | $8.0M | $6.5M | $20.7M | $11.7M | — | View 990 |
| 2014 | $6.5M | $5.6M | $15.2M | $7.7M | — | View 990 |
| 2013 | $6.6M | $5.7M | $17.2M | $10.7M | — | View 990 |
| 2012 | $5.4M | $5.7M | $12.8M | $7.2M | — | View 990 |
| 2011 | $5.0M | $4.2M | $12.9M | $7.2M | — | View 990 |
| 2010 | $5.5M | $3.6M | $12.4M | $7.9M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $10.6M, expenses of $13.2M, and assets of $44.5M (revenue -20.6% year-over-year).
- 2022: Revenue of $13.4M, expenses of $9.1M, and assets of $40.5M (revenue -8.1% year-over-year).
- 2021: Revenue of $14.6M, expenses of $7.8M, and assets of $45.8M (revenue +17.8% year-over-year).
- 2020: Revenue of $12.4M, expenses of $9.2M, and assets of $33.0M (revenue +75.4% year-over-year).
- 2019: Revenue of $7.1M, expenses of $8.9M, and assets of $22.6M (revenue -1.8% year-over-year).
- 2018: Revenue of $7.2M, expenses of $11.4M, and assets of $24.2M (revenue -22.0% year-over-year).
- 2017: Revenue of $9.2M, expenses of $7.7M, and assets of $27.8M (revenue +6.8% year-over-year).
- 2016: Revenue of $8.6M, expenses of $7.4M, and assets of $25.5M (revenue +8.2% year-over-year).
- 2015: Revenue of $8.0M, expenses of $6.5M, and assets of $20.7M (revenue +23.0% year-over-year).
- 2014: Revenue of $6.5M, expenses of $5.6M, and assets of $15.2M (revenue -1.9% year-over-year).
- 2013: Revenue of $6.6M, expenses of $5.7M, and assets of $17.2M (revenue +22.3% year-over-year).
- 2012: Revenue of $5.4M, expenses of $5.7M, and assets of $12.8M (revenue +7.6% year-over-year).
- 2011: Revenue of $5.0M, expenses of $4.2M, and assets of $12.9M (revenue -9.1% year-over-year).
- 2010: Revenue of $5.5M, expenses of $3.6M, and assets of $12.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Ascendus Inc:
Data Sources and Methodology
This transparency report for Ascendus Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.