Gateway Area Foundation

Analysis

Gateway Area Foundation is a registered charity in United States, based in Clinton, IA. It received its IRS tax-exemption ruling in November 2003, 23 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 May 2023, Gateway Area Foundation reported income of $57k and spending of $60k, spending 105% of its income. Across the 5 years on record, from May 2019 to May 2023, income fell from $78k to $57k (-26%), an average of -7.3% a year. The sharpest change came in the year to May 2021, when income rose by 40%. Over the whole period it spent 96% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Gateway Area Foundation sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 22nd percentile, and in the 20th percentile within IA. Charities of a similar size with the same main cause include Moorestown Rotary Charities Inc ($57k), Place of Possibility Inc ($57k) and SPB Hospitality Foundation ($57k).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 1.7% and program service revenue 98% of the total. At year end it held assets of $586k against liabilities of $9,882, net assets of $576k.