Gateway Terrace Inc

Analysis

Gateway Terrace Inc is a registered charity in United States, based in Orlando, FL. It received its IRS tax-exemption ruling in June 1967, 59 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 2023, Gateway Terrace Inc reported income of $1.0m and spending of $1.5m, spending 145% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $954k to $1.0m (+9.7%), an average of +2.3% a year. Over the whole period it spent 130% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Gateway Terrace Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 82nd percentile within FL. Charities of a similar size with the same main cause include Womens Daytime Drop-In Center ($1.0m), Ellendale Evergreen Place Inc ($1.0m) and Faith Hope & Charity Recycle Store Inc ($1.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.0% and program service revenue 101% of the total. Other salaries and wages came to $401k. At year end it held assets of $4.8m against liabilities of $2.5m, net assets of $2.2m. It reported 9 employees.

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.