THE ASCENDIGO CORPORATION
Ascendigo is a Colorado Nonprofit Corporation, and 501 (c) 3, founded in April of 2004.
• Ascendigo Property Holdings is a Colorado Nonprofit Corporation and likely will have some C status, and was founded in September of 2020.
• At the core of what it means to be a nonprofit is that there is no private inurement, meaning no part of a nonprofit’s net earnings can inure to the benefit of any private shareholder or individual.
• Nonprofit corporations are otherwise identical to for‐profit corporations. Both types of entities can:
• Have employees
• Face the same expenses
• Make investments
• Enter into contracts
• Sue and be sued
• Produce goods and/or services
• GENERATE PROFITS!
The Corporation is well funded and wants to grow.
• Well Funded: For example, the Corporation employs a CEO at a annual salary of $260,000, more than most other for and nonprofits of the same size ($4M in revenue) in the valley.
• Growth: Since 2010 the organization has intended to help “hundreds of thousands of people” through various initiative including the building of its own facility.
This information came from the Colorado Secretary of State Website, 2010 annual report, and The Law of Tax Exempt Organizations, Hopkins.