2022-11-15T17:26:11-06:00 2021-12-31 873707167 CBIZ MARKS PANETH LLC 685 THIRD AVENUE NEW YORK NY 10017 990 2021-01-01 113317234 ASCENDUS INC ASCE 6468334514 80 MAIDEN LANE 903 NEW YORK NY 10038 PAUL QUINTERO CEO 6468334514 2022-11-15 1 PAUL QUINTERO 999009999 MAGDALENA M CZERNIAWSKI P00535099 2125038800 2022-11-15 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z PAUL QUINTERO 80 MAIDEN LANE 903 NEW YORK NY 10038 14588685 0 X ASCENDUS.ORG X 1996 NY ASCENDUS EMPOWERS LOW-TO-MODERATE INCOME BUSINESS OWNERS THROUGH ACCESS TO CAPITAL FINANCIAL EDUCATION. WITH ECONOMIC OPPORTUNITY, THESE ENTREPRENEURS, OFTEN MINORITIES AND WOMEN, CAN BUILD ASSETS, BETTER PROVIDE FOR THEIR FAMILIES, CREATE EMPLOYMENT AND STRENGTHEN THEIR COMMUNITIES. 15 15 50 19 0 0 9008455 8034011 3074625 5977096 16091 8607 282914 568971 12382085 14588685 0 0 0 0 4287512 4953664 0 0 922843 4883668 2880348 9171180 7834012 3210905 6754673 32987328 45777812 24158880 29367139 8828448 16410673 X ASCENDUS EMPOWERS LOW-TO-MODERATE INCOME BUSINESS OWNERS THROUGH ACCESS TO CAPITAL FINANCIAL EDUCATION. WITH ECONOMIC OPPORTUNITY, THESE ENTREPRENEURS, OFTEN MINORITIES AND WOMEN, CAN BUILD ASSETS, BETTER PROVIDE FOR THEIR FAMILIES, CREATE EMPLOYMENT AND STRENGTHEN THEIR COMMUNITIES. 0 0 6017109 6090909 ASCENDUS HAS TWO PRIMARY PROGRAMS, THE LARGEST OF WHICH IS THE PROVISION OF MICROLOANS AND DEVELOPMENT SERVICES TO MICRO-ENTREPRENEURS (I.E., ENTREPRENEURS THAT EMPLOY FIVE OR LESS EMPLOYEES). WE SERVE LOW-TO MODERATE-INCOME, MINORITY, IMMIGRANT AND WOMEN ENTREPRENEURS, POPULATIONS THAT 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. 380513 455158 ASCENDUS IS A CERTIFIED COMMUNITY ADVANTAGE LENDER UNDER THE U.S. SMALL BUSINESS ADMINISTRATION. THROUGH THIS PROGRAM, ASCENDUS OFFERS SMALL BUSINESS LOANS RANGING FROM $50,000 TO $250,000 AND TECHNICAL ASSISTANCE TO SMALL BUSINESS OWNERS IN THE FOURTEEN STATES IN WHICH IT IS CERTIFIED (FL, GA, SC, NC, VA, MD, DE, PA, NJ, NY, CT, MA, RI, NH). LOANS ARE PARTIALLY GUARANTEED BY THE SBA AND HAVE TERMS UP TO 10 YEARS, PROVIDING ASCENDUS THE FLEXIBILITY TO LEND GROWING SMALL BUSINESSES, WITHOUT SACRIFICING THE AFFORDABLE PAYMENTS THAT MAKE OUR LOANS ACCESSIBLE TO UNDERSERVED BUSINESSES. 6397622 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 30 0 1 50 1 0 0 0 0 0 0 0 0 0 0 0 0 X 15 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 NY X PAUL QUINTERO CEO 6468334514 80 MAIDEN LANE SUITE 903 NEW YORK NY 10038 AMY HELLEN DIRECTOR 1.00 X 0 0 0 COLLEEN GALVIN VICE-CHAIR 1.00 X X 0 0 0 CRISTINA SHAPIRO DIRECTOR (OUTGOING) 1.00 X 0 0 0 DANIEL DELEHANTY DIRECTOR 1.00 X 0 0 0 DENNIS LAGUEUX CHAIR (OUTGOING) 1.00 1.00 X X 0 0 0 JAS JEET SINGH DIRECTOR 1.00 X 0 0 0 JEROME WEISS DIRECTOR 1.00 X 0 0 0 JOSEPH HERNANDEZ DIRECTOR 1.00 X 0 0 0 KIMBERLY JOHNSON TREASURER 1.00 X X 0 0 0 LAURA MILLER CHAIR 1.00 X X 0 0 0 LISA SERVON DIRECTOR 1.00 X 0 0 0 MICHAEL HENRY DIRECTOR (OUTGOING) 1.00 X 0 0 0 PERRI RICHMOND DIRECTOR 1.00 X 0 0 0 ROSHELLE NAGAR SECRETARY 1.00 1.00 X X 0 0 0 STEPHEN CASSELL DIRECTOR 1.00 X 0 0 0 SUDHIR JAIN DIRECTOR 1.00 X 0 0 0 THOMAS MCDERMOTT VICE-CHAIR (OUTGOING) 1.00 1.00 X X 0 0 0 TYLER VAN GUNDY DIRECTOR 1.00 X 0 0 0 ZARA INGILIZIAN DIRECTOR 1.00 X 0 0 0 PAUL QUINTERO CEO 36.50 1.00 X 361266 0 21672 WILLIAM POPELESKI SR. ADVISOR TO CEO (OUTGOING) 36.50 1.00 X 114759 0 7245 ANA I HAMMOCK SVP OF LENDING 37.50 X 180020 0 0 FABIANA A ESTRADA DIRECTOR OF LENDING 37.50 X 137521 0 15147 JENNIFER SPAZIANO V.P. TECH & INNOVATION 37.50 X 143893 0 0 RODRIGO CERVEIRA V.P. CREDIT RISK & LOAN SERVICE 37.50 X 148415 0 21672 VICTORIA N RICHARDSON V.P OF DEVELOPMENT & COMMUNICATION 36.50 1.00 X 141086 0 21672 1226960 0 87408 7 0 1 0 YOUR PART TIME CONTROLLER 1333 BROADWAY SUITE 720 ALABANY NY 10018 FINANCIAL SERVICES 122729 FIFTEEN DEGREES LLC - EFT-ACH 27 EAST 21ST STREET 2ND FLOOR NEW YORK NY 10010 BRAND DEVELOPMENT 103360 2 2657885 5376126 8034011 PROGRAM FEES 900099 4845200 4845200 LOAN PORTFOLIO INCOME 525990 1131896 1131896 5977096 8607 8607 OTHER REVENUE 900099 529440 529440 LOAN RECOVERY INCOME 900099 39531 39531 568971 14588685 6546067 0 8607 504944 396987 41961 65996 3584845 2818409 297722 468714 529515 416305 43978 69232 334360 262874 27771 43715 42538 42538 445508 302904 26982 115622 57410 39033 3477 14900 199756 176867 8892 13997 947417 862380 20655 64382 252406 198442 20964 33000 3609 2837 300 472 8441 6637 701 1103 538394 538394 162667 127889 13510 21268 56259 44231 4673 7355 MISCELLANEOUS EXPENSES 165943 160895 1961 3087 7834012 6397622 513547 922843 11723057 17309788 893818 3448830 1118870 1465758 172472 141272 16061879 19468232 98866 93311 1314262 1087098 205883 227164 2712483 3623457 32987328 45777812 785222 932472 1011015 2026607 20713695 26129237 1648948 278823 24158880 29367139 X 5336749 12583231 3491699 3827442 8828448 16410673 32987328 45777812 X 6754673 827552 X X 0 1 X 1 1 1 X 6268291 4528517 3871881 9008455 8034011 31711155 6268291 4528517 3871881 9008455 8034011 31711155 4040811 27670344 1019 5126 4297 16091 8607 35140 27586 19254 72447 282914 568971 971172 32717467 17806546 0.84570 0.76620 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FUNDRAISING INCOME - 2017 AMOUNT: $ 27,586. 2018 AMOUNT: $ 19,254. 2019 AMOUNT: $ 19,164. OTHER REVENUE - 2019 AMOUNT: $ 53,283. 2020 AMOUNT: $ 172,991. 2021 AMOUNT: $ 529,440. LOAN RECOVERY INCOME - 2020 AMOUNT: $ 109,923. 2021 AMOUNT: $ 39,531. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 31385 27510 3875 175265 174231 1034 1107612 885357 222255 227164 SECURITY DEPOSIT 82389 CASH RESTRICTED FOR LOAN FUNDS 3541068 3623457 DEFERRED RENT 58025 OTHER LIABILITIES 220798 278823 X 15495170 78933 827552 906485 14588685 0 14588685 7912945 78933 78933 7834012 0 7834012 PART X, LINE 2: ASCENDUS BELIEVES IT HAS NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2021 AND 2020 IN ACCORDANCE WITH ACCOUNTING STANDARDS CODIFICATION ("ASC") TOPIC 740, INCOME TAXES, WHICH PROVIDES STANDARDS FOR ESTABLISHING AND CLASSIFYING ANY TAX PROVISIONS FOR UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: RELATED ENTITIES' REVENUE 827,552. X X X 1 0 0 0 0 0 0 1 0 PAUL QUINTERO CEO 314881 0 46385 0 0 0 0 0 21672 0 382938 0 0 0 ANA I HAMMOCK SVP OF LENDING 169845 0 10175 0 0 0 0 0 0 0 180020 0 0 0 RODRIGO CERVEIRA V.P. CREDIT RISK & LOAN SERVICE 129929 0 18486 0 0 0 0 0 21672 0 170087 0 0 0 VICTORIA N RICHARDSON V.P OF DEVELOPMENT & COMMUNICATION 123758 0 17328 0 0 0 0 0 21672 0 162758 0 0 0 FABIANA A ESTRADA DIRECTOR OF LENDING 119944 0 17577 0 0 0 0 0 15147 0 152668 0 0 0 PART I, LINE 7 THE BOARD APPROVES THE SUCCESS SHARE PLAN BONUS OF DIRECTORS BASED ON THE RECOMMENDATION AND REVIEW OF THE FINANCE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 11B THE RETURN IS PREPARED BY THE OUTSOURCED ACCOUNTANT, AND IS REVIEWED BY MANAGEMENT & AUDIT COMMITTEE IN DETAIL AND THEN SENT TO THE BOARD PRIOR TO ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C A CONFLICT OF INTEREST POLICY IS CURRENTLY IN PLACE AND IS MONITORED ANNUALLY. EACH YEAR EVERY MEMBER OF THE GOVERNING BODY COMPLETES AND SIGNS A CONFLICT OF INTEREST QUESTIONNAIRE IN WHICH THEY DISCLOSE ANY POSSIBLE CONFLICTS OF INTEREST TO THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 15A IN 2021, THE CEO'S SALARY WAS REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS USING THREE SOURCES OF COMPENSATION ANALYSIS, INCLUDING NATIONAL REPORT FROM GUIDESTAR ON COMPENSATION LEVELS FOR NONPROFIT CEOS BY TYPE OF NONPROFIT, SIZE AND GEOGRAPHY, AN ANALYSIS BASED ON INDEPENDENT NONPROFIT SALARY GUIDES FOR THE NEW YORK AREA, AND A PERFORMANCE REVIEW. IN 2021, ASCENDUS HAD AN EMPLOYMENT MANAGEMENT AGREEMENT WITH A PROFESSIONAL EMPLOYMENT ORGANIZATION ("PEO") WHICH PROVIDES A COMPREHENSIVE PERSONNEL MANAGEMENT SYSTEM ENCOMPASSING A BROAD RANGE OF SERVICES, INCLUDING BENEFITS AND PAYROLL ADMINISTRATION, HEALTH AND WORKER'S COMPENSATION INSURANCE PROGRAMS, PERSONNEL RECORDS MANAGEMENT, EMPLOYER LIABILITY MANAGEMENT, ETC. EMPLOYEES ARE CONSIDERED CO-EMPLOYEES OF ASCENDUS AND THE PEO. EMPLOYEES ARE INCLUDED IN A FORM W-3, TRANSMITTAL OF WAGE AND TAX STATEMENTS ISSUED DIRECTLY BY THE PEO. ASCENDUS DID NOT ISSUE A SEPARATE FORM W-3 OR FORM W-2. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: NET ASSETS FROM ASCENDUS, INC. OTHER CHANGES 827,552. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. ACCION EAST INC 80 MAIDEN LANE SUITE 903 NEW YORK NY 10038 043219159 PROVIDING MICROLOANS AND SUPPORT TO ENTREPRENEURS MA 501(C)(3) LINE 12A, I ASCENDUS 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0