Project Place Gatehouse Inc

Analysis

Project Place Gatehouse Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in October 2009, 17 years ago. 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 June 2023, Project Place Gatehouse Inc reported income of $223k and spending of $452k, spending 203% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $209k to $223k (+6.9%), an average of +2.3% a year. Over the whole period it spent 156% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Project Place Gatehouse Inc sits at the 55th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 59th percentile within MA. Charities of a similar size with the same main cause include Mercy Services Downtown Inc ($223k), General Needs Ltd ($223k) and California Federation of Womens Clubs ($223k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 11% and program service revenue 88% of the total. Other salaries and wages came to $6,615. At year end it held assets of $7.0m against liabilities of $1.9m, net assets of $5.1m.

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.