Gateway Community College Foundation Inc

Analysis

Gateway Community College Foundation Inc is a registered charity in United States, based in New Haven, CT. It received its IRS tax-exemption ruling in June 1993, 33 years ago. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Gateway Community College Foundation Inc reported income of $520k and spending of $331k, leaving 36% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $686k to $520k (-24%), an average of -6.7% a year. The sharpest change came in the year to December 2021, when income rose by 30%. Over the whole period it spent 69% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Gateway Community College Foundation Inc sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 68th percentile within CT. Charities of a similar size with the same main cause include Holy Angels Apartments II Inc ($520k), Dear Neighbor Ministries Inc ($520k) and Pumpkin Patch Preschool Inc ($519k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% of the total. At year end it held assets of $3.4m against liabilities of $0, net assets of $3.4m.