University Gateway Corporation

Analysis

University Gateway Corporation is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in September 1997, 29 years ago. Its declared purposes cover education, which this site groups under education and training. 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, University Gateway Corporation reported income of $6.4m and spending of $7.3m, spending 114% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $6.7m to $6.4m (-4.7%), an average of -1.2% a year. The sharpest change came in the year to June 2021, when income dropped by 28%. Over the whole period it spent 118% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, University Gateway Corporation sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within MN. Charities of a similar size with the same main cause include Legacy Traditional School-Mesa ($6.4m), Carter G Woodson School Inc ($6.4m) and Southern Avenue Charter Elementary School of Academic Excellence ($6.4m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 92% of the total. Compensation of current officers, directors and key employees was $320k (4.4% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $87.8m against liabilities of $47.4m, net assets of $40.5m. It reported 20 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.