Gateway Milbridge

Analysis

Gateway Milbridge is a registered charity in United States, based in Milbridge, ME. It received its IRS tax-exemption ruling in March 2017, 9 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 June 2023, Gateway Milbridge reported income of $229k and spending of $39k, leaving 83% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $203k to $229k (+13%), an average of +4.0% a year. The sharpest change came in the year to June 2022, when income rose by 19%. Over the whole period it spent 12% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Gateway Milbridge sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 50th percentile within ME. Charities of a similar size with the same main cause include Montpelier Downtown Community Association ($229k), Service League of Cherokee County Georgia Inc ($229k) and New England Financial Marketing Association Inc ($229k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 94% of the total. At year end it held assets of $1.1m against liabilities of $0, net assets of $1.1m.