Gateway Second Chance Foundation

Analysis

Gateway Second Chance Foundation is a registered charity in United States, based in Suitland, MD. It received its IRS tax-exemption ruling in May 2015, 11 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Gateway Second Chance Foundation reported income of $150k and spending of $185k, spending 124% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $102k to $150k (+47%), an average of +47% a year. The sharpest change came in the year to December 2023, when income rose by 47%. Over the whole period it spent 115% 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 Second Chance Foundation sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 47th percentile, and in the 47th percentile within MD. Charities of a similar size with the same main cause include Menno-Haven Auxiliary Inc ($150k), Vivid Gallery Inc ($150k) and The San Francisco Japantown Foundation ($150k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $48k against liabilities of $0, net assets of $48k.