Ascend Foundation Inc
- Assets
- $4.2m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 1
- Location
- New York, NY
- Founding
- 12/2006
- Data as of
- 09/2021
- EIN
- 65-1284462
Organization Overview
Ascend Foundation Inc is located in New York, NY. The organization was established in 2006. According to its NTEE Classification (S19) the organization is classified as: Support N.E.C., under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ascend Foundation Inc 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 09/2021, Ascend Foundation Inc generated $2.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 63.0% each year . All expenses for the organization totaled $940.2k during the year ending 09/2021. While expenses have increased by 40.5% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE RESEARCH WITH A MISSION TO ADVOCATE, ENABLE AND ASSIST PAN-ASIANS IN NORTH AMERICA TO BECOME THE LEADERS OF TODAY AND TOMORROW. ASCEND FOUNDATION INC.'S RESEARCH FINDINGS SUPPORT AND ADVOCATE THE PAN-ASIAN COMMUNITY THROUGH EDUCATIONAL PROGRAMMING AND IT CREATES FORUMS WHERE FINANCIAL, BUSINESS AND PROFESSIONAL LEADERS CAN SHARE THEIR EXPERIENCES WITH MEMBERS OF THE PAN-ASIAN COMMUNITY IN NORTH AMERICA AND OTHERS, AND PROVIDE INVALUABLE INSIGHTS INTO BUSINESS LEADERSHIP, CAREER DEVELOPMENT AND CORPORATE LIFE. ASCEND FOUNDATION INC. ALSO GRANTS SCHOLARSHIPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IMPACT FUND:THE PROGRAM IS TO COMBAT ANTI-ASIAN HATE AND SUPPORT NATIONAL PAN-ASIAN COMMUNITY THROUGH THE FOLLOWING:ADVOCACY: SHARE, INFORM, AND ADVANCE THE AAPI STORY THROUGH A UNIFIED VOICE.ALLYSHIP: FOSTER ALLYSHIP IN THE WORKPLACE AND SOCIETY THROUGH PROGRAMS AND PARTNERSHIPS TO EDUCATE AND INCREASE AWARENESS AND UNDERSTANDING.EDUCATION: DEVELOP AND DELIVER EDUCATION TO INCREASE KNOWLEDGE ABOUT AAPI IN HISTORY, UNCOVER UNDERLYING CAUSES OF RACE AND BIAS, AND DISPEL THE MODEL MINORITY MYTH.MOBILIZATION: ENGAGE IN ALLIANCES, VOLUNTEERISM, INNOVATOR CHALLENGES, TO POSITIVELY IMPACT AND SUPPORT THE AAPI COMMUNITY.THOUGHT LEADERSHIP: CONDUCT RESEARCH, DERIVE INSIGHTS, AND PUBLISH FINDINGS TO MAKE DATA DRIVEN AND INFORMED DECISIONS FOR POSITIVE CHANGE.
OTHER MISCELLANESOUS PROGRAMS:ASCEND FOUDATION, INC. PROVIDES OTHER MISCELLANEOUS PROGRAMS IN AN EFFORT TO CULTIVATE AND ADVANCE PAN-ASIAN PROFESSIONALS.
PINNACLE:PINNACLE WAS LAUNCHED BY ASCEND FOUNDATION, INC. TO FOCUS ON ASIAN AMERICAN CORPORATE BOARD DIRECTORS ON COMPANY BOARDS. THE GOAL IS TO INCREASE THE NUMBER OF ASIAN AMERICANS ON FORTUNE 1000 BOARDS TO BE MORE REFLECTIVE OF THE ASIAN POPULATION IN THE WORKFORCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anna Mok President | OfficerTrustee | 5 | $0 |
Jeff Chin Treasurer | OfficerTrustee | 1 | $0 |
Dylan Jeng Board Member | Trustee | 0.5 | $0 |
Jenny C Wei Board Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,988,712 |
| Noncash contributions included in lines 1a–1f | $45,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,988,712 |
| Total Program Service Revenue | $918,850 |
| Investment income | $2,799 |
| 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 | $2,910,361 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $22,379 |
| Grants and other assistance to domestic individuals. | $60,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $50,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $433,018 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $81,712 |
| Payroll taxes | $31,959 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,278 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $55,865 |
| Advertising and promotion | $0 |
| Office expenses | $16,595 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $39,738 |
| Travel | $1,047 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $82,578 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,358 |
| All other expenses | $0 |
| Total functional expenses | $940,210 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,699,214 |
| Savings and temporary cash investments | $41,449 |
| Pledges and grants receivable | $337,500 |
| Accounts receivable, net | $0 |
| 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 | $29,098 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,047,238 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,154,499 |
| Accounts payable and accrued expenses | $57,891 |
| Grants payable | $0 |
| Deferred revenue | $577,500 |
| 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 | $404,572 |
| Total liabilities | $1,039,963 |
| Net assets without donor restrictions | $2,963,445 |
| Net assets with donor restrictions | $151,091 |
| 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 | $4,154,499 |
Grants Awarded
Over the last fiscal year, Ascend Foundation Inc has awarded $75,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Houston, TX PURPOSE: HOUSTON HURRICANE HARVEY RELIEF | $50,000 |
Houston, TX PURPOSE: HOUSTON HURRICANE HARVEY RELIEF | $10,000 |
MEETUPWARD LLC PURPOSE: INNOVATION CHALLENGE WINNER | $10,000 |
Jackson Heights, NY PURPOSE: ICON AWARD WINNER | $5,000 |
Grants Recieved
Over the last fiscal year, we have identified 17 grants that Ascend Foundation Inc has recieved totaling $1,080,770.
| Awarding Organization | Amount |
|---|---|
The Blackbaud Giving Fund Charleston, SC PURPOSE: GENERAL SUPPORT | $307,331 |
The Blackbaud Giving Fund Charleston, SC PURPOSE: GENERAL SUPPORT | $307,331 |
Verizon Foundation Basking Ridge, NJ PURPOSE: IMPACT FUND | $150,000 |
The Coca-Cola Foundation Inc Atlanta, GA PURPOSE: THE EXECUTIVE WOMEN'S PROGRAM: NAVIGATING YOUR ORGANIZATION FOR SUCCESS | $50,000 |
Globalgiving Foundation Inc Washington, DC PURPOSE: FUNDS RAISED BY GLOBALGIVING AND DISBURSED TO MEET DONOR EXPECTATIONS | $50,000 |
American Express Foundation New York, NY PURPOSE: GENERAL SUPPORT | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ted Foundation Inc New York, NY | $82,825,056 | $86,531,507 |
National Elevator Industry Educational Program Attleboro Falls, MA | $187,712,359 | $37,822,732 |
Building 77 Qalicb Inc Brooklyn, NY | $189,975,269 | $15,386,005 |
Nonprofit Development Corporation Inc Butler, PA | $3,393,535 | $1,924,841 |
Ascend Foundation Inc New York, NY | $4,154,499 | $2,910,361 |
Ownership Works Inc New York, NY | $21,261,059 | $21,548,708 |
Upstate Venture Connect Corporation Little Falls, NY | $121,861 | $277,504 |
Joie De Vie Properties Inc River Edge, NJ | $2,727,381 | $246,224 |
Beautiful Trouble Inc New York, NY | $258,057 | $346,876 |
Center In Midland Pa Midland, PA | $232,032 | $289,321 |
South Asian Engagement Foundation A Nj Nonprofit Corporation Metuchen, NJ | $127,911 | $224,254 |
Hubweek Inc Boston, MA | $966,556 | $899,423 |