Golden Gate Development Corporation

Analysis

Golden Gate Development Corporation is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in September 1998, 28 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2023, Golden Gate Development Corporation reported income of $5.7m and spending of $6.0m, spending 106% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.8m to $5.7m (+103%), an average of +19% a year. The sharpest change came in the year to June 2023, when income rose by 55%. Over the whole period it spent 108% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Golden Gate Development Corporation sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within TN. Charities of a similar size with the same main cause include Leadingage Minnesota Foundation ($5.7m), Pathway Ministries ($5.7m) and Badger Prairie Needs Network Inc ($5.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $9.5m against liabilities of $7.0m, net assets of $2.5m. It reported 30 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.