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 06/2022, Ascent College employed 8 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 06/2022, Ascent College generated $675.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $656.7k during the year ending 06/2022. While expenses have increased by 5.1% 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
2022
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.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Robert J Rhoden President | OfficerTrustee | 30 | $51,424 |
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 |
Jacob Al Hassan Director | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $88,101 |
All other contributions, gifts, grants, and similar amounts not included above | $410,659 |
Noncash contributions included in lines 1a–1f | $214,099 |
Total Revenue from Contributions, Gifts, Grants & Similar | $498,760 |
Total Program Service Revenue | $175,631 |
Investment income | $792 |
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 | $675,183 |
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. | $51,424 |
Compensation of current officers, directors, key employees. | $51,424 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $270,185 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $0 |
Fees for services: Legal | $25 |
Fees for services: Accounting | $30,398 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $6,878 |
Office expenses | $0 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $84,000 |
Travel | $4,698 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $8,803 |
Insurance | $6,109 |
All other expenses | $88,362 |
Total functional expenses | $656,706 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $216,684 |
Savings and temporary cash investments | $54,527 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $22,615 |
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 | $1,500 |
Net Land, buildings, and equipment | $86,829 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $382,155 |
Accounts payable and accrued expenses | $5,648 |
Grants payable | $0 |
Deferred revenue | $2,080 |
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 | $250,000 |
Other liabilities | $0 |
Total liabilities | $257,728 |
Net assets without donor restrictions | $71,487 |
Net assets with donor restrictions | $52,940 |
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 | $382,155 |
Over the last fiscal year, we have identified 1 grants that Ascent College has recieved totaling $15,000.
Awarding Organization | Amount |
---|---|
T Rowe Price Program For Charitable Giving Inc Baltimore, MD PURPOSE: GENERAL OPERATING | $15,000 |
Beg. Balance | $21,735 |
Earnings | $792 |
Net Contributions | $30,000 |
Ending Balance | $52,527 |
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