Ascent College
- Assets
- $290.8k
- Revenue
- $903.2k
- Investments
- $104.7k
- Employees
- 9
- Location
- Gainesville, VA
- Founding
- 02/1995
- Data as of
- 06/2023
- EIN
- 54-1851377
Organization Overview
Ascent College is located in Gainesville, VA. The organization was established in 1995. According to its NTEE Classification (X21) the organization is classified as: Protestant, under the broad grouping of Religion-Related and related organizations. As of 06/2023, Ascent College employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ascent College is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Ascent College generated $903.2k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.9% each year. All expenses for the organization totaled $760.6k during the year ending 06/2023. While expenses have increased by 6.4% per year over the past 8 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
WE PROVIDE POST-SECONDARY EDUCATION FROM A BIBLICAL PERSPECTIVE IN ORDER TO PREPARE STUDENTS, SPIRITUALLY, PRACTICALLY AND ACADEMICALLY FOR PROFESSIONAL AND LAY MINISTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE PROVIDE POST-SECONDARY EDUCATION FROM A BIBLICAL PERSPECTIVE IN ORDER TO PREPARE STUDENTS, SPIRITUALLY, PRACTICALLY AND ACADEMICALLY FOR PROFESSIONAL AND LAY MINISTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert J Rhoden President | OfficerTrustee | 30 | $48,000 |
Jacob Al Hassan Director | Trustee | 1 | $4,700 |
George Raduano Chairman Of The Board | OfficerTrustee | 1 | $0 |
Ken Moreland Treasurer | OfficerTrustee | 1 | $0 |
Ken Cramer Director | OfficerTrustee | 1 | $0 |
Sherilynn Tounger Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $163,420 |
| All other contributions, gifts, grants, and similar amounts not included above | $596,493 |
| Noncash contributions included in lines 1a–1f | $153,600 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $759,913 |
| Total Program Service Revenue | $137,570 |
| Investment income | $5,671 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $903,154 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $109,470 |
| Compensation of current officers, directors, key employees. | $35,645 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $272,327 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $29,207 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $30,168 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,536 |
| Office expenses | $353 |
| Information technology | $12,786 |
| Royalties | $0 |
| Occupancy | $24,600 |
| Travel | $6,344 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,328 |
| Interest | $6,726 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,466 |
| Insurance | $4,506 |
| All other expenses | $76,129 |
| Total functional expenses | $760,559 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $49,865 |
| Savings and temporary cash investments | $32,864 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $23,063 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | -$276 |
| Prepaid expenses and deferred charges | $1,997 |
| Net Land, buildings, and equipment | $78,639 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $104,675 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $290,827 |
| Accounts payable and accrued expenses | $23,805 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $23,805 |
| Net assets without donor restrictions | $187,734 |
| Net assets with donor restrictions | $79,288 |
| 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 | $290,827 |