Ascent College
EIN: 541851377 · Gainesville, VA · NTEE: X21
Is Ascent College Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Ascent College
Ascent College (EIN: 541851377) is a nonprofit organization based in Gainesville, VA, classified under NTEE code X21. The organization reported total revenue of $873K and total assets of $290K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Ascent College's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Ascent College is a small nonprofit that has been operating for 31 years, with 13 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of 3.1%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $715K |
| Total Expenses | $828K |
| Surplus / Deficit | $-113,398 |
| Total Assets | $329K |
| Total Liabilities | $175K |
| Net Assets | $154K |
| Operating Margin | -15.9% |
| Debt-to-Asset Ratio | 53.3% |
| Months of Reserves | 4.8 months |
Financial Health Grade: C
In 2024, Ascent College reported a deficit of $113K with expenses exceeding revenue, holds 4.8 months of operating reserves (adequate), has a debt-to-asset ratio of 53.3% (high leverage).
Financial Trends
Over 13 years of filings (2012–2024), Ascent College's revenue has grown at a compound annual growth rate (CAGR) of 3.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | -20.8% | +8.9% | +13.0% |
| 2023 | +33.8% | +15.8% | -23.9% |
| 2022 | +49.8% | +35.5% | +162.2% |
| 2021 | +100.8% | +93.2% | -7.3% |
| 2020 | -17.9% | +1.8% | -7.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 7200 |
| IRS Ruling Date | 1995 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Ascent College has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Ascent College with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $113K, with expenses exceeding revenue.
- Debt-to-asset ratio: 53.3%.
Frequently Asked Questions about Ascent College
Is Ascent College a legitimate charity?
Based on AI analysis of IRS 990 filings, Ascent College (EIN: 541851377) insufficient data. 0 red flags identified, 0 strengths noted.
How does Ascent College spend its money?
Detailed spending breakdown data is not yet available for Ascent College. Check back for updated IRS 990 analysis.
Are donations to Ascent College tax-deductible?
Ascent College is registered as a tax-exempt nonprofit (EIN: 541851377). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Filing History
IRS 990 filing history for Ascent College showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), Ascent College's revenue has grown by 44.1%, moving from $496K to $715K. Total assets increased by 78.1% over the same period, from $185K to $329K. Total functional expenses rose by 72.5%, from $480K to $828K. In its most recent filing year (2024), Ascent College reported a deficit of $113K, with expenses exceeding revenue. The organization holds $175K in liabilities against $329K in assets (debt-to-asset ratio: 53.3%), resulting in net assets of $154K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $715K | $828K | $329K | $175K | — | — |
| 2023 | $903K | $761K | $291K | $24K | — | View 990 |
| 2022 | $675K | $657K | $382K | $258K | — | View 990 |
| 2021 | $451K | $485K | $146K | $40K | — | View 990 |
| 2020 | $224K | $251K | $157K | $17K | — | View 990 |
| 2019 | $273K | $246K | $169K | $3K | — | View 990 |
| 2018 | $301K | $378K | $205K | $66K | — | View 990 |
| 2017 | $449K | $430K | $236K | $20K | — | View 990 |
| 2016 | $457K | $464K | $220K | $23K | — | View 990 |
| 2015 | $503K | $510K | $226K | $21K | — | View 990 |
| 2014 | $455K | $435K | $228K | $17K | — | View 990 |
| 2013 | $444K | $424K | $232K | $41K | — | View 990 |
| 2012 | $496K | $480K | $185K | $13K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $715K, expenses of $828K, and assets of $329K (revenue -20.8% year-over-year).
- 2023: Revenue of $903K, expenses of $761K, and assets of $291K (revenue +33.8% year-over-year).
- 2022: Revenue of $675K, expenses of $657K, and assets of $382K (revenue +49.8% year-over-year).
- 2021: Revenue of $451K, expenses of $485K, and assets of $146K (revenue +100.8% year-over-year).
- 2020: Revenue of $224K, expenses of $251K, and assets of $157K (revenue -17.9% year-over-year).
- 2019: Revenue of $273K, expenses of $246K, and assets of $169K (revenue -9.1% year-over-year).
- 2018: Revenue of $301K, expenses of $378K, and assets of $205K (revenue -33.0% year-over-year).
- 2017: Revenue of $449K, expenses of $430K, and assets of $236K (revenue -1.7% year-over-year).
- 2016: Revenue of $457K, expenses of $464K, and assets of $220K (revenue -9.3% year-over-year).
- 2015: Revenue of $503K, expenses of $510K, and assets of $226K (revenue +10.6% year-over-year).
- 2014: Revenue of $455K, expenses of $435K, and assets of $228K (revenue +2.5% year-over-year).
- 2013: Revenue of $444K, expenses of $424K, and assets of $232K (revenue -10.5% year-over-year).
- 2012: Revenue of $496K, expenses of $480K, and assets of $185K.
Data Sources and Methodology
This transparency report for Ascent College 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.