Gateway Charitable Foundation Inc

Analysis

Gateway Charitable Foundation Inc is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in May 1996, 30 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Gateway Charitable Foundation Inc reported income of $1.3m and spending of $328k, leaving 75% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $135k to $1.3m (+877%), an average of +77% a year. The sharpest change came in the year to June 2023, when income rose by 434%. Over the whole period it spent 72% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Gateway Charitable Foundation Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 82nd percentile within IL. Charities of a similar size with the same main cause include United Way of Gaston County Inc ($1.3m), United Way of Greater Mercer County Inc ($1.3m) and Louis a Fincke-Anna B Shine Memorial Endowment Fund ($1.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 105% of the total. Other salaries and wages came to $101k. At year end it held assets of $11.0m against liabilities of $0, net assets of $11.0m.