The Ascent Project Inc

Nonprofit profile at a glance

EIN
271148162
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-EZ 2018
Location
Atlanta, GA, USA
Phone
4048479447
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Management & Technical Assistance

Official website

Reported finances

Revenue
$1,197,452
Expenses
$1,361,476
Assets
$83,361
Liabilities
$30,523

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • ERIC PINCKNEY (BOARD PRESIDENT)
  • RIAN SMITH (BOARD VICE PRESIDENT)
  • HOPE BOLDON (EXECUTIVE DIRECTOR)

Highest reported compensation

  • JILL MITCHELL (PROGRAM DIRECTOR (UNTIL 9/2024)): $121,711 total reported compensation
  • TEAERA RAINES (PROGRAM DIRECTOR): $86,526 total reported compensation
  • HOPE BOLDON (EXECUTIVE DIRECTOR): $26,400 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Developing a legacy of healthy communities by coaching, counseling, and connecting the residents to resoruces within the three pilliars : income, health, and education

What it reported doing in 2024

The ascent project (tap) provides critical socioeconomic, educational and civic engagement support and services to residents in urban, mixed income, transformed communities. Tap ensures that constant attention is paid to the challenges faced by families and households, to ensure the long-term stability and strength of such under-served communities. This is achieved through targeted programming and lifelong learning opportunities for all residents (adults and children).

Operating model

Revenue model
Earned-program. 78% of the money available for current operations came from fees and other program revenue.
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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 92
  • Accountability: 86
  • Sustainability: 12
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99.2%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • 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; 63rd percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -13.7%; rating input score 13; 13th percentile among comparable filings
  • Total-asset coverage ratio: 0.06; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: 0.37; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 17.2%; rating input score 19; 19th percentile among comparable filings

Growth

  • Program expense growth: 27% per year; rating input score 100; 88th percentile among comparable filings
  • Revenue growth: 28.7% per year; rating input score 100; 92nd percentile among comparable filings
  • Asset growth: 28.9% per year; rating input score 100; 90th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99.2% of spending went to programs
  • Governance: 8 of 8 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.4M in reported program spending
  • Leadership: top reported pay $122K · 11 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 5 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Operating margin scored 13/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • High — Sustainability: Officer compensation ratio scored 19/100.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.