Gateway Foundation Inc

Analysis

Gateway Foundation Inc is a registered charity in United States, based in Kingston, NY. It received its IRS tax-exemption ruling in May 1995, 31 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 Foundation Inc reported income of $92k and spending of $83k, spending 89% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $45k to $92k (+107%), an average of +107% a year. The sharpest change came in the year to December 2023, when income rose by 107%. Over the whole period it spent 132% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Gateway Foundation Inc sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 35th percentile, and in the 34th percentile within NY. Charities of a similar size with the same main cause include Norfolk Rotary Charities Inc ($92k), Kicking It Back Inc ($92k) and Ironwood Community Foundation ($92k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 95% of the total. At year end it held assets of $325k against liabilities of $28k, net assets of $296k.