Gateway Development Corporation

Analysis

Gateway Development Corporation is a registered charity in United States, based in Omaha, NE. It received its IRS tax-exemption ruling in November 1991, 35 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Gateway Development Corporation reported income of $216k and spending of $194k, spending 90% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $192k to $216k (+13%), an average of +3.1% a year. The sharpest change came in the year to December 2020, when income rose by 266%. Over the whole period it spent 89% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Gateway Development Corporation sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 54th percentile within NE. Charities of a similar size with the same main cause include Economic Action Group Inc ($216k), Riverhead Business Improvement District Management Assoc Inc ($216k) and Tennessee Stormwater Association ($216k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 61% and program service revenue 37% of the total. Other salaries and wages came to $120k. At year end it held assets of $849k against liabilities of $0, net assets of $849k.