Skip to the page content
Your donations
Passes our checks

Ascendus Inc

EIN 11-3317234 · New York, NY

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthGood78 out of 100GovernanceStrong100 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

ASCENDUS EMPOWERS LOW-TO-MODERATE INCOME BUSINESS OWNERS THROUGH ACCESS TO CAPITAL AND FINANCIAL EDUCATION.

Income
$14.8 million
Spending
$13.2 million
Spent on programs
80%
Reserves
10.1 months of spending
Largest source of income
donations and private grants, 52%
Employees
50
Volunteers
16
Highest pay
$430,966, ceo

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Good: 78 out of 100. Higher than 66% of charities in its peer group (community improvement, $10m to $100m).

  • Reserves

    28 of 35

    Spendable reserves would cover 10.1 months of spending.

  • Debt

    5 of 20

    It owes 70% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 11% of income.

  • Income trend

    15 of 15

    Income rose 21% on the year before.

  • Spending floor

    15 of 15

    80% of spending went to programs and raising each dollar of donations cost 10 cents.

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 100 out of 100. Higher than 42% of charities in its peer group (community improvement, $10m to $100m).

  • Independent board

    25 of 25

    16 of 16 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (2)
  1. $6.9 million spent. ASCENDUS HAS TWO PRIMARY PROGRAMS, THE LARGEST OF WHICH IS THE PROVISION OF BUSINESS LOANS AND DEVELOPMENT SERVICES TO ENTREPRENEURS. WE SERVE LOW-TO MODERATE-INCOME AND UNDERSERVED ENTREPRENEURS WHO LACK ACCESS TO MAINSTREAM CREDIT SOURCES. WITH ACCESS TO CREDIT, OUR CLIENTS GO ON TO BUILD ASSETS, GROW HOUSEHOLD INCOMES AND CREATE JOBS FOR THEMSELVES AND OTHERS WITHIN THEIR LOCAL COMMUNITIES. THIS PROGRAM PROVIDES BOTH TERM AND LINE OF CREDIT OPTIONS.
  2. $3.6 million spent. IN THE SECOND PROGRAM, ASCENDUS PARTICIPATES IN PARTNERSHIP PROGRAMS WHERE LOANS ARE ORIGINATED AND PORTIONS ARE SOLD TO THE PARTNER ORGANIZATION. THIS PROGRAM PROVIDES BOTH A LIQUDITY AND RISK MITIGATION ALLOWING ASCENDUS TO MAKE MORE LOANS SERVING MORE CLIENTS THAN IT WOULD WITHOUT THESE PROGRAMS. LOAN PARTICIPATIONS RANGE FROM 75%-95% DEPENDING ON THE PARTNER.

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since April 1997.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.