Michigan Gateway Comm Foundation

Analysis

Michigan Gateway Comm Foundation is a registered charity in United States, based in Buchanan, MI. It received its IRS tax-exemption ruling in September 1978, 48 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 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 March 2024, Michigan Gateway Comm Foundation reported income of $1.8m and spending of $1.6m, spending 87% of its income. Across the 5 years on record, from March 2020 to March 2024, income fell from $3.7m to $1.8m (-51%), an average of -16% a year. The sharpest change came in the year to March 2021, when income dropped by 66%. Over the whole period it spent 74% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Michigan Gateway Comm Foundation sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within MI. Charities of a similar size with the same main cause include Renton Regional Community Foundation ($1.8m), Care4all Children Services Incorporated ($1.8m) and Montgomery County Community Foundation ($1.8m).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 39% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $88k (5.5% of expenses). Other salaries and wages came to $108k. At year end it held assets of $28.2m against liabilities of $1.6m, net assets of $26.6m. It reported 5 employees.