Ascend Inc
- Assets
- $7.8m
- Revenue
- $6.5m
- Investments
- $1.8m
- Employees
- 22
- Location
- New York, NY
- Founding
- 10/2005
- Data as of
- 09/2023
- EIN
- 51-0527847
Organization Overview
Ascend Inc is located in New York, NY. The organization was established in 2005. According to its NTEE Classification (S46) the organization is classified as: Boards of Trade, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2023, Ascend Inc employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ascend Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 09/2023, Ascend Inc generated $6.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.9% each year . All expenses for the organization totaled $4.8m during the year ending 09/2023. While expenses have increased by 7.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
FOUNDED IN 2005, ASCEND IS THE FRST AND LARGEST GLOBAL NETWORK ADVANCING ASIAN AND PACIFIC ISLANDER (API) PROFESSIONALS IN THE WORKPLACE. ASCENDS 60+ CHAPTERS PARTNER WITH GLOBAL ORGANIZATIONS TO CULTIVATE AND EMPOWER API TALENT AS THEY RISE TO THEIR FULL POTENTIAL. WE BELIEVE THAT BY WORKING TOGETHER, OUR COMMUNITY CAN DEVELOP LEADERS WHO CONSISTENTLY IGNITE POSITIVE CHANGE IN THE WORKPLACE AND THE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASCEND CONVENTIONTHE ASCEND CONVENTION IS OUR SIGNATURE ANNUAL EVENT HOSTING THE LARGEST GATHERING OF PAN-ASIAN BUSINESS LEADERS AND PROFESSIONALS. DURING THE THREE DAY EVENT, OVER 2,000 INDUSTRY LEADERS, SENIOR EXECUTIVES AND PROFESSIONALS PARTICIPATE IN IMPACTFUL LEADERSHIP AND PROFESSIONAL DEVELOPMENT, THOUGHT LEADERSHIP, EXPERIENTIAL TALKS, NETWORKING, AND MORE.
ASCEND CHAPTERSOUR ASCEND CHAPTERS ARE REGIONALLY BASED ACROSS THE U.S.A. TO PROVIDE PREMIER ENGAGEMENT OPPORTUNITIES FOR OUR PARTNERS THROUGH YEAR-ROUND PROGRAMS AND ANNUAL CONFERENCES.OUR GROWING NUMBER OF PROFESSIONAL CHAPTERS INCLUDE A MEMBERSHIP BASE OF CORPORATE EXECUTIVES, MANAGERS AND PROFESSIONALS ACROSS VARIOUS INDUSTRIES. IN AN EFFORT TO CULTIVATE AND ADVANCE PAN-ASIAN PROFESSIONALS, OUR CHAPTERS ORGANIZE A VARIETY OF LOCAL EVENTS AND SOCIAL MIXERS, AND DELIVER LOCAL PROGRAMS SUCH AS PROFESSIONAL DEVELOPMENT WORKSHOPS, REGIONAL CONFERENCES AND MENTORING PROGRAMS. CHAPTERS ALSO ENCOURAGE AND PROMOTE CIVIC ENGAGEMENT THROUGH COMMUNITY SERVICE.OUR STUDENT CHAPTERS AT COLLEGES AND UNIVERSITIES ARE AFFILIATED WITH A REGIONAL PROFESSIONAL CHAPTER TO PROVIDE ACCESS TO CONTENT AND RECRUITING EVENTS DEVELOPED BY SOME OF THE TOP API TALENT AT FORTUNE 500 COMPANIES. THESE CHAPTERS BRING UNIQUE VALUE TO THEIR MEMBERS BY CREATING A PLATFORM FOR CAREER DEVELOPMENT AND BY HELPING THEM BUILD A NETWORK OF MENTORS AND COACHES.
OTHER MISCELLANEOUS PROGRAMS:ASCEND INC. PROVIDES OTHER MISCELLANEOUS PROGRAMS IN AN EFFORT TO CULTIVATE AND ADVANCE PAN-ASIAN PROFESSIONALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lawrence Low COO | Officer | 30 | $200,000 |
Tifanny Papish National Director | 40 | $124,000 | |
Peyen Fong Director | 30 | $0 | |
Katherine Lee National Director | 40 | $124,000 | |
Robina Singh National Director | 40 | $115,000 | |
Anna Mok President | OfficerTrustee | 15 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $609,450 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $239,773 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $849,223 |
| Total Program Service Revenue | $5,608,306 |
| Investment income | $109,375 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$59,622 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,507,282 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $13,153 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $217,517 |
| Compensation of current officers, directors, key employees. | $87,007 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,366,206 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $312,717 |
| Payroll taxes | $117,752 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $69,443 |
| Fees for services: Accounting | $22,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,740 |
| Fees for services: Other | $603,392 |
| Advertising and promotion | $2,776 |
| Office expenses | $147,388 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $126,510 |
| Travel | $61,396 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,557,009 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $13,311 |
| All other expenses | $0 |
| Total functional expenses | $4,753,454 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,367,896 |
| Savings and temporary cash investments | $77,287 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $22,501 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $43,509 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,810,111 |
| Investments—other securities | $1,808,992 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $687,921 |
| Total assets | $7,818,217 |
| Accounts payable and accrued expenses | $87,494 |
| Grants payable | $0 |
| Deferred revenue | $432,113 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $114,136 |
| Total liabilities | $633,743 |
| Net assets without donor restrictions | $7,032,024 |
| Net assets with donor restrictions | $152,450 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $7,818,217 |