Gateway Preparatory Academy

Analysis

Gateway Preparatory Academy is a registered charity in United States, based in Enoch, UT. It received its IRS tax-exemption ruling in January 2008, 18 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, Gateway Preparatory Academy reported income of $7.8m and spending of $6.8m, spending 86% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $5.6m to $7.8m (+41%), an average of +9.0% a year. The sharpest change came in the year to June 2022, when income rose by 16%. Over the whole period it spent 88% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Gateway Preparatory Academy sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within UT. Charities of a similar size with the same main cause include Bronx Global Learning Institute for Girls ($7.8m), Dayspring Christian Academy ($7.8m) and Journey School ($7.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% and program service revenue 1.1% of the total. Compensation of current officers, directors and key employees was $84k (1.3% of expenses). Other salaries and wages came to $3.8m. At year end it held assets of $13.2m against liabilities of $7.7m, net assets of $5.5m. It reported 187 employees.