Ascendus Inc

Nonprofit profile at a glance

EIN
113317234
IRS 990 coverage
2013–2025
Forms available
Form 990 2025
Location
New York, NY, USA
Phone
9044374664
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Business and Industry

Reported finances

Revenue
$14,826,378
Expenses
$13,244,280
Assets
$53,358,328
Liabilities
$37,404,468

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

29 people listed

Executive titles in this filing

  • PAUL QUINTERO (CEO)

Highest reported compensation

  • PAUL QUINTERO (CEO): $430,966 total reported compensation
  • ANA HAMMOCK (CHIEF OPERATING OFFICER): $270,500 total reported compensation
  • JOSHUA BRACKETT (CFO): $208,730 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Ascendus empowers low-to-moderate income business owners through access to capital and financial education.

What it reported doing in 2025

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.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 84
  • Accountability: 95
  • Sustainability: 53
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 72.4%; rating input score 72
  • Program expense ratio: 79.6%; rating input score 80
  • Fundraising efficiency: $10.27 raised per $1 spent on fundraising; rating input score 33; 33rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Missing
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 10.7%; rating input score 59; 59th percentile among comparable filings
  • Total-asset coverage ratio: 4.03; rating input score 74; 74th percentile among comparable filings
  • Liabilities to assets ratio: 0.7; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 13.9%; rating input score 14; 14th percentile among comparable filings

Growth

  • Program expense growth: 7.3% per year; rating input score 100; 55th percentile among comparable filings
  • Revenue growth: 6.3% per year; rating input score 100; 52nd percentile among comparable filings
  • Asset growth: 10.6% per year; rating input score 100; 69th percentile among comparable filings

Details

  • Where the money goes: 72.4% of revenue deployed · 79.6% of spending went to programs
  • Governance: 16 of 16 board members independent · 8 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $10.5M in reported program spending
  • Leadership: top reported pay $431K · 29 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 34 of 34 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 12 filing years from 2013 to 2025
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 33/100.
  • Review — Sustainability: Operating margin scored 59/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.
  • High — Sustainability: Officer compensation ratio scored 14/100.