Gateway Community Development Corporation

Analysis

Gateway Community Development Corporation is a registered charity in United States, based in Henderson, NC. It received its IRS tax-exemption ruling in December 1988, 38 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 December 2023, Gateway Community Development Corporation reported income of $145k and spending of $184k, spending 127% of what it took in. Across the 2 years on record, from December 2021 to December 2023, income fell from $200k to $145k (-28%), an average of -28% a year. The sharpest change came in the year to December 2023, when income dropped by 28%. Over the whole period it spent 62% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Gateway Community Development Corporation sits at the 30th percentile: it is larger than about 30% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 44th percentile within NC. Charities of a similar size with the same main cause include Ocean Housing Foundation ($145k), Vermont Alliance for Recovery Residences ($145k) and Diamond State C L T Inc ($145k).

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 $330k against liabilities of $0, net assets of $330k.