Gateway Municipalities Community

Analysis

Gateway Municipalities Community is a registered charity in United States, based in N Brentwood, MD. It received its IRS tax-exemption ruling in April 1998, 28 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 June 2024, Gateway Municipalities Community reported income of $523k and spending of $491k, spending 94% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $344k to $523k (+52%), an average of +11% a year. The sharpest change came in the year to June 2023, when income rose by 58%. Over the whole period it spent 112% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Gateway Municipalities Community sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 70th percentile within MD. Charities of a similar size with the same main cause include Renew Moline Inc ($523k), Business Initiative Corporation of New York ($523k) and Friends of Lafitte Corridor Inc ($523k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 36% and program service revenue 64% of the total. Compensation of current officers, directors and key employees was $73k (15% of expenses). At year end it held assets of $2.3m against liabilities of $1.6m, net assets of $644k. It reported 1 employees.