North Square Gateway Terrace Inc

Analysis

North Square Gateway Terrace Inc is a registered charity in United States, based in Waterbury, CT. It received its IRS tax-exemption ruling in April 2000, 26 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, North Square Gateway Terrace Inc reported income of $214k and spending of $278k, spending 130% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $200k to $214k (+6.9%), an average of +1.7% a year. Over the whole period it spent 134% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, North Square Gateway Terrace Inc sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 52nd percentile within CT. Charities of a similar size with the same main cause include Two Hands Four Paws Foundation ($214k), Westfield Residence Inc ($214k) and Gallatin Valley Farm to School ($214k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. Other salaries and wages came to $15k. At year end it held assets of $1.2m against liabilities of $2.0m, net assets of -$799k.

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.