The Foundation for Florida Gateway College Inc

Analysis

The Foundation for Florida Gateway College Inc is a registered charity in United States, based in Lake City, FL. It received its IRS tax-exemption ruling in February 1976, 50 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2024, The Foundation for Florida Gateway College Inc reported income of $1.1m and spending of $1.3m, spending 118% of what it took in. Across the 5 years on record, from March 2020 to March 2024, income fell from $1.6m to $1.1m (-31%), an average of -8.8% a year. The sharpest change came in the year to March 2022, when income rose by 95%. Over the whole period it spent 90% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, The Foundation for Florida Gateway College Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 83rd percentile within FL. Charities of a similar size with the same main cause include Team Read ($1.1m), Virginiafirst ($1.1m) and Chosen Generation Christian Academy Inc ($1.1m).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 81% of the total. Compensation of current officers, directors and key employees was $5,991 (0.5% of expenses). At year end it held assets of $27.4m against liabilities of $15k, net assets of $27.3m. It reported 1 employees.