New Gateways

Analysis

New Gateways is a registered charity in United States, based in Waterford, MI. It received its IRS tax-exemption ruling in November 2005, 21 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 September 2023, New Gateways reported income of $3.0m and spending of $2.9m, spending 96% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.8m to $3.0m (+64%), an average of +13% a year. The sharpest change came in the year to September 2021, when income rose by 26%. Over the whole period it spent 94% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, New Gateways sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 89th percentile within MI. Charities of a similar size with the same main cause include Mockingbird Society ($3.0m), Tri River Transit Authority ($3.0m) and Step One School ($3.0m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 98% and program service revenue 0.7% of the total. Compensation of current officers, directors and key employees was $98k (3.4% of expenses). Other salaries and wages came to $286k. At year end it held assets of $3.1m against liabilities of $1.7m, net assets of $1.4m. It reported 7 employees.