Gateways Music Festival Inc

Analysis

Gateways Music Festival Inc is a registered charity in United States, based in Rochester, NY. It received its IRS tax-exemption ruling in December 1999, 27 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Gateways Music Festival Inc reported income of $528k and spending of $432k, spending 82% of its income. Across the 5 years on record, from October 2019 to June 2023, income grew from $335k to $528k (+57%), an average of +12% a year. The sharpest change came in the year to October 2022, when income rose by 240%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Gateways Music Festival Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 67th percentile within NY. Charities of a similar size with the same main cause include Side Street Studio Arts NFP ($528k), Celtic Fest Inc ($528k) and Collabor Action Theatre Company Inc ($528k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 90% of the total. At year end it held assets of $2.2m against liabilities of $1.9m, net assets of $378k.