Gateway Maryland Inc

Analysis

Gateway Maryland Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in June 1942, 84 years ago. 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 June 2023, Gateway Maryland Inc reported income of $10.5m and spending of $10.5m, spending 100% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $6.6m to $10.5m (+60%), an average of +17% a year. The sharpest change came in the year to June 2021, when income rose by 29%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Gateway Maryland Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within MD. Charities of a similar size with the same main cause include Richmond District Neighborhood Center Inc ($10.5m), St Bernards Village Inc ($10.5m) and Sick Kids Need Involved People of New York Inc ($10.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 3.2% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $465k (4.4% of expenses). Other salaries and wages came to $4.8m. At year end it held assets of $9.0m against liabilities of $689k, net assets of $8.3m. It reported 193 employees.