The Gateway Academy Inc

Analysis

The Gateway Academy Inc is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in March 2007, 19 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, The Gateway Academy Inc reported income of $4.5m and spending of $4.4m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.0m to $4.5m (+48%), an average of +10% a year. The sharpest change came in the year to June 2021, when income rose by 26%. Over the whole period it spent 99% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, The Gateway Academy Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 94th percentile within TX. Charities of a similar size with the same main cause include Wyatt Academy ($4.5m), Sheila C Skip Nowell Leadership Academy ($4.5m) and Bridges Academy ($4.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 18% and program service revenue 82% of the total. Compensation of current officers, directors and key employees was $279k (6.3% of expenses). Other salaries and wages came to $2.3m. It paid $15k in professional fundraising fees. At year end it held assets of $2.5m against liabilities of $2.7m, net assets of -$230k. It reported 44 employees.