Finger Lakes Gateway Community Development Corporation

Analysis

Finger Lakes Gateway Community Development Corporation is a registered charity in United States, based in Watkins Glen, NY. It received its IRS tax-exemption ruling in July 2016, 10 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Finger Lakes Gateway Community Development Corporation reported income of $158k and spending of $34k, leaving 78% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $75k to $158k (+110%), an average of +110% a year. The sharpest change came in the year to December 2023, when income rose by 110%. Over the whole period it spent 34% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Finger Lakes Gateway Community Development Corporation sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 48th percentile, and in the 46th percentile within NY. Charities of a similar size with the same main cause include Stonegate Arts & Education Center Inc ($158k), Turkish Womens League of America Inc ($158k) and Debra C Parmentola Foundation ($158k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 94% of the total. At year end it held assets of $383k against liabilities of $182k, net assets of $201k.