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CHARITY REVIEW
Issued: October 2025 Expires: October 2027

Ascendus

Accredited Charity
Accredited Charity

Meets Standards
(212) 387-0377
25 Broadway Fl 10
New York, NY, 10004-1082
https://www.ascendus.org/
📄 Full Report 🖨️ Print 📋 BBB Charity Standards

Standards For Charity Accountability

Governance

  1. Board Oversight
  2. Board Size
  3. Board Meetings
  4. Board Compensation
  5. Conflict of Interest

Measuring Effectiveness

  1. Effectiveness Policy
  2. Effectiveness Report

Finances

  1. Program Expenses
  2. Fundraising Expenses
  3. Accumulating Funds
  4. Audit Report
  5. Detailed Expense Breakdown
  6. Accurate Expense Reporting
  7. Budget Plan

Fundraising & Info

  1. Truthful Materials
  2. Annual Report
  3. Website Disclosures
  4. Donor Privacy
  5. Cause Marketing Disclosures
  6. Complaints

Ascendus meets the 20 Standards for Charity Accountability.

Stated Purpose:
Ascendus empowers low- to moderate-income (LMI) business owners with access to capital and financial education.

Year, State Incorporated:
1991, NY

Ascendus offers business term loans, specialized loans for businesses such as Rideshare and Childcare, and lines of credit. Our loans range from $500 to $250,000. They are complemented by in-depth guidance, coaching and an entire support system of peers, mentors and resources. Groundbreaking partnerships, free workshops, webinars and online resources give our clients access to best practices, industry knowledge and professional networks. Since 1991, we’ve provided over $336 million in capital to over 47,000 small businesses across the country.

For the year ended December 31, 2024, Ascendus's program expenses were:

Total program services $12,717,778
Total Program Expenses $12,717,778

Chief Executive
Paul Quintero, CEO

Compensation*
$440,228

Chair of the Board
Laura Miller, Chief Revenue Officer and Global Head of eCommerce

Chair's Profession / Business Affiliation
Nuvei

Board Size
19

Paid Staff Size
55

* Compensation includes annual salary and, if applicable, benefit plans, expense accounts and other allowances.

Method(s) Used:
Direct mail appeals, Grant proposals, Appeals via Social Media (Facebook, etc.)

% of Related Contributions on Fundraising: 14.77%

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.

The following information is based on Ascendus's audited financial statements for the year ended December 31, 2024.

Source of Funds
Contributions $5,332,487
Program fees $3,258,920
Interest on loans $3,103,559
Interest income $518,004
Noncash contributions $150,822
Total Income $12,363,792

Programs: 80% Fundraising: 5% Administrative: 14%

Total Income $12,363,792
Total expenses: $15,969,888
  Program expenses $12,717,778
  Fundraising expenses $809,887
  Administrative expenses $2,291,401
  Other expenses $150,822
Income in Excess of Expenses $-3,606,096
Beginning Net Assets $17,977,858
Other Changes In Net Assets $0
Ending Net Assets $14,371,762
Total Liabilities $47,171,255
Total Assets $61,543,017

An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the International Association of Better Business Bureaus.

This report is not to be used for fundraising or promotional purposes.

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Report completed by:
BBB Foundation of Metropolitan New York