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Nonprofiteer
← ASCENDUS INC

Form 990 for tax year 2025

Filed by ASCENDUS INC.

Totals

Total revenue
$14,826,378
Total expenses
$13,244,280
Contributions and grants received
$8,564,184
Grants paid
$0
Program service revenue
$5,577,655
Investment income
$684,539
Other revenue
$0
Total assets, end of year
$53,358,328
Total liabilities, end of year
$37,404,468
Net assets or fund balances, end of year
$15,953,860
Program services expenses (Part IX)
$10,538,930
Management and general expenses
$1,871,090
Fundraising expenses
$834,260
Program service expenses (Part III)
$10,538,930

Program services were 79.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $811,662

  • 1f · All other contributions, gifts and grants

    $7,752,522

  • 2a · Program service revenue: LOAN PORTFOLIO INCOME

    total $4,059,996 · related or exempt $4,059,996

  • 2b · Program service revenue: PROGRAM FEES

    total $1,517,659 · related or exempt $1,517,659

  • 3 · Investment income

    total $684,539 · excluded $684,539

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $910,197 · program services $470,541 · management and general $331,914 · fundraising $107,742

  • 7 · Other salaries and wages

    total $3,603,526 · program services $2,315,922 · management and general $833,941 · fundraising $453,663

  • 8 · Pension plan contributions

    total $124,182 · program services $77,860 · management and general $31,687 · fundraising $14,635

  • 9 · Other employee benefits

    total $831,894 · program services $562,296 · management and general $169,642 · fundraising $99,956

  • 10 · Payroll taxes

    total $335,712 · program services $216,996 · management and general $81,766 · fundraising $36,950

  • 11a · Fees: management

    total $174,554 · program services $141,774 · management and general $3,750 · fundraising $29,030

  • 11b · Fees: legal

    total $64,807 · program services $64,807

  • 11c · Fees: accounting

    total $139,063 · program services $65,709 · management and general $61,502 · fundraising $11,852

  • 11g · Fees: other

    total $14,797 · program services $584 · management and general $8,051 · fundraising $6,162

  • 12 · Advertising and promotion

    total $3,297 · program services $422 · fundraising $2,875

  • 13 · Office expenses

    total $7,670 · program services $1,640 · management and general $3,192 · fundraising $2,838

  • 14 · Information technology

    total $992,775 · program services $823,167 · management and general $149,492 · fundraising $20,116

  • 16 · Occupancy

    total $157,873 · program services $117,785 · management and general $31,977 · fundraising $8,111

  • 17 · Travel

    total $106,969 · program services $48,161 · management and general $25,148 · fundraising $33,660

  • 19 · Conferences, conventions and meetings

    total $6,983 · program services $175 · management and general $4,558 · fundraising $2,250

  • 20 · Interest

    total $1,414,325 · program services $1,414,325

  • 22 · Depreciation, depletion and amortization

    total $47,545 · program services $40,221 · management and general $6,246 · fundraising $1,078

  • 23 · Insurance

    total $103,142 · program services $80,354 · management and general $21,334 · fundraising $1,454

  • 24a · Other expenses: CLIENT LOSS PROVISION

    total $3,655,619 · program services $3,655,619

  • 24b · Other expenses: CHARGES AND FEES

    total $284,840 · program services $176,062 · management and general $106,890 · fundraising $1,888

  • 24c · Other expenses: COLLECTION EXPENSE

    total $264,510 · program services $264,510

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,761,783 · end of year $5,278,172

  • 2 · Savings and temporary cash investments

    beginning of year $20,316,922 · end of year $12,636,746

  • 3 · Pledges and grants receivable

    beginning of year $1,888,185 · end of year $2,519,396

  • 4 · Accounts receivable

    beginning of year $646,345 · end of year $269,619

  • 7 · Other notes and loans receivable

    beginning of year $32,388,529 · end of year $30,825,908

  • 9 · Prepaid expenses and deferred charges

    beginning of year $353,776 · end of year $369,474

  • 10a · Land, buildings and equipment: cost or other basis

    $172,467

  • 10b · Land, buildings and equipment: accumulated depreciation

    $169,282

  • 10c · Land, buildings and equipment, net

    beginning of year $10,724 · end of year $3,185

  • 14 · Intangible assets

    beginning of year $59,820 · end of year $476,789

  • 15 · Other assets

    beginning of year $1,116,933 · end of year $979,039

  • 17 · Accounts payable and accrued expenses

    beginning of year $656,303 · end of year $512,229

  • 19 · Deferred revenue

    beginning of year $360,879 · end of year $435,030

  • 23 · Secured mortgages and notes payable

    beginning of year $4,612,763 · end of year $3,820,129

  • 24 · Unsecured notes and loans payable

    beginning of year $39,487,661 · end of year $31,822,661

  • 25 · Other liabilities

    beginning of year $2,053,649 · end of year $814,419

  • 27 · Net assets without donor restrictions

    beginning of year $10,421,966 · end of year $11,188,526

  • 28 · Net assets with donor restrictions

    beginning of year $3,949,796 · end of year $4,765,334

Mission and programs · 2025

Mission

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

  • 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.

    Expenses $6,931,614 · Revenue $3,522,341

  • 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.

    Expenses $3,607,316 · Revenue $2,055,314

As filed on the 2025 return.

Listed in Part VII

  • LAURA MILLER

    CHAIR (OUTGOING)

    Total calculated
    $0
    Hours/week
    1

  • DANIEL DELEHANTY

    VICE-CHAIR (INCOMING CHAIR)

    Total calculated
    $0
    Hours/week
    1

  • AMY HELLEN

    DIRECTOR (INCOMING VICE-CHAIR)

    Total calculated
    $0
    Hours/week
    1

  • RAMONA CEDENO

    DIRECTOR (INCOMING TREASURER)

    Total calculated
    $0
    Hours/week
    1

  • TYLER VAN GUNDY

    TREASURER (OUTGOING)

    Total calculated
    $0
    Hours/week
    1

  • JESSIE CHIANG

    DIRECTOR (INCOMING SECRETARY)

    Total calculated
    $0
    Hours/week
    1

  • ROSHELLE NAGAR

    SECRETARY (OUTGOING)

    Total calculated
    $0
    Hours/week
    1

  • QUENIA ABREU

    DIRECTOR (OUTGOING)

    Total calculated
    $0
    Hours/week
    1

  • ARMANDO ACOSTA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • STEPHEN CASSELL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PABLO CORTINA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SANDY FERNANDEZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JOSEPH HERNANDEZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ZARA INGILIZIAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DEANNA MAESTRAS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ALVIN MOORE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PERRI RICHMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • AUGUSTO SANABRIA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JAS JEET SINGH

    DIRECTOR (OUTGOING)

    Total calculated
    $0
    Hours/week
    1

  • SHELLEY R SYLVA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JEROME WEISS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JOSHUA BRACKETT

    CFO

    Total calculated
    $208,730
    From this org
    $187,520
    From related orgs
    $0
    Other
    $21,210
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $187,520
    Bonus
    $0
    Other
    $0
    Deferred
    $6,020
    Nontaxable benefits
    $15,190
    Filer's total
    $208,730

  • ANA HAMMOCK

    CHIEF OPERATING OFFICER

    Total calculated
    $270,500
    From this org
    $247,000
    From related orgs
    $0
    Other
    $23,500
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $247,000
    Bonus
    $0
    Other
    $0
    Deferred
    $23,500
    Nontaxable benefits
    $0
    Filer's total
    $270,500

  • PAUL QUINTERO

    CEO

    Total calculated
    $430,966
    From this org
    $371,626
    From related orgs
    $0
    Other
    $59,340
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $360,186
    Bonus
    $0
    Other
    $11,440
    Deferred
    $31,000
    Nontaxable benefits
    $28,340
    Filer's total
    $430,966

  • RODRIGO CERVEIRA

    VP, CREDIT RISK

    Total calculated
    $188,505
    From this org
    $151,101
    From related orgs
    $0
    Other
    $37,404
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,101
    Bonus
    $0
    Other
    $0
    Deferred
    $8,095
    Nontaxable benefits
    $29,309
    Filer's total
    $188,505

  • FABIANA A ESTRADA

    REG. VP, LENDING AND BUSINESS DEV.

    Total calculated
    $170,988
    From this org
    $144,130
    From related orgs
    $0
    Other
    $26,858
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $144,130
    Bonus
    $0
    Other
    $0
    Deferred
    $4,465
    Nontaxable benefits
    $22,393
    Filer's total
    $170,988

  • VICTORIA N RICHARDSON

    CHIEF DEVELOPMENT OFFICER

    Total calculated
    $189,551
    From this org
    $157,429
    From related orgs
    $0
    Other
    $32,122
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $157,044
    Bonus
    $385
    Other
    $0
    Deferred
    $4,906
    Nontaxable benefits
    $27,216
    Filer's total
    $189,551

  • JENNIFER SPAZIANO

    SVP, OPERATIONS & INNOVATION

    Total calculated
    $188,753
    From this org
    $157,170
    From related orgs
    $0
    Other
    $31,583
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $156,657
    Bonus
    $513
    Other
    $0
    Deferred
    $4,776
    Nontaxable benefits
    $26,807
    Filer's total
    $188,753

  • ANDREA IERACE

    SVP, LENDING

    Total calculated
    $193,415
    From this org
    $161,072
    From related orgs
    $0
    Other
    $32,343
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $160,687
    Bonus
    $385
    Other
    $0
    Deferred
    $23,500
    Nontaxable benefits
    $8,843
    Filer's total
    $193,415

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 7
THE BOARD APPROVES THE SUCCESS SHARE PLAN BONUS BASED ON THE RECOMMENDATION AND REVIEW OF THE FINANCE COMMITTEE.
PART II, COLUMN B(III):
AMOUNTS IN PART II COLUMN (B)(III) REPRESENT CONTRIBUTIONS TO A 457(B) PLAN.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2025
Filed
1 July 2026
IRS schema version
2025v4.2
Source object
202631829349300533

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