Urban Gateways

Analysis

Urban Gateways is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in January 1964, 62 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 August 2023, Urban Gateways reported income of $1.7m and spending of $2.1m, spending 123% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income fell from $3.2m to $1.7m (-48%), an average of -15% a year. The sharpest change came in the year to August 2023, when income dropped by 40%. Over the whole period it spent 92% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Urban Gateways sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 84th percentile within IL. Charities of a similar size with the same main cause include Artopolis Development ($1.7m), Community Works of Louisiana ($1.7m) and The Center for Photography at Woodstock Inc ($1.7m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 79% and program service revenue 21% of the total. Compensation of current officers, directors and key employees was $443k (21% of expenses). Other salaries and wages came to $644k. At year end it held assets of $2.0m against liabilities of $235k, net assets of $1.8m. It reported 25 employees.