Sierra Gateway Senior Residence

Analysis

Sierra Gateway Senior Residence is a registered charity in United States, based in Duarte, CA. It received its IRS tax-exemption ruling in April 2004, 22 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 September 2023, Sierra Gateway Senior Residence reported income of $762k and spending of $984k, spending 129% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $567k to $762k (+35%), an average of +7.7% a year. Over the whole period it spent 139% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Sierra Gateway Senior Residence sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 77th percentile within CA. Charities of a similar size with the same main cause include Mantua Presbyterian Apartments Inc ($762k), The Harry and Jeanette Weinberg Village III Inc ($763k) and Telacu Hacienda ($762k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 59% and program service revenue 40% of the total. At year end it held assets of $6.6m against liabilities of $10.4m, net assets of -$3.7m.

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.