Gateway Community Industries Inc

Analysis

Gateway Community Industries Inc is a registered charity in United States, based in Kingston, NY. It received its IRS tax-exemption ruling in December 1962, 64 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Gateway Community Industries Inc reported income of $14.3m and spending of $14.5m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $12.3m to $14.3m (+17%), an average of +4.0% a year. Over the whole period it spent 99% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Gateway Community Industries Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within NY. Charities of a similar size with the same main cause include Project Hope Foundation Inc ($14.3m), Home for Aged Women Inc ($14.4m) and Other Ones Foundation Inc ($14.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.2% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $363k (2.5% of expenses). Other salaries and wages came to $6.2m. At year end it held assets of $7.5m against liabilities of $3.3m, net assets of $4.2m. It reported 193 employees.