Gateway Apartments Inc

Analysis

Gateway Apartments Inc is a registered charity in United States, based in Greenville, SC. It received its IRS tax-exemption ruling in August 1992, 34 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Gateway Apartments Inc reported income of $73k and spending of $77k, spending 106% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $65k to $73k (+11%), an average of +3.6% a year. Over the whole period it spent 122% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Gateway Apartments Inc 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 29th percentile, and in the 35th percentile within SC. Charities of a similar size with the same main cause include Clinton County Arts Council Inc ($73k), PTA California Congress of Parents Teachers & Students Inc ($73k) and Rhoneymeade Inc ($73k).

On its Form 990 for the period ending December 2022, revenue came from program service revenue 100% of the total. Other salaries and wages came to $18k. At year end it held assets of $469k against liabilities of $820k, net assets of -$351k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.