Gateway Community Development Corp

Analysis

Gateway Community Development Corp is a registered charity in United States, based in Yazoo City, MS. It received its IRS tax-exemption ruling in February 2008, 18 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 Development Corp reported income of $747k and spending of $1.2m, spending 155% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $490k to $747k (+52%), an average of +11% a year. The sharpest change came in the year to December 2020, when income rose by 69%. Over the whole period it spent 159% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Gateway Community Development Corp sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 78th percentile within MS. Charities of a similar size with the same main cause include Dealer Forum Resources Inc ($747k), Roger Williams Day Care Center Inc ($747k) and Innercity Visions ($747k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 7.4% and program service revenue 92% of the total. Other salaries and wages came to $204k. At year end it held assets of $4.0m against liabilities of $2.2m, net assets of $1.8m. It reported 5 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.