Gateway Apartments Inc

Analysis

Gateway Apartments Inc is a registered charity in United States, based in Jacksonville, AR. It received its IRS tax-exemption ruling in October 1992, 34 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 Apartments Inc reported income of $67k and spending of $86k, spending 129% of what it took in. Across the 3 years on record, from June 2021 to June 2023, income grew from $66k to $67k (+1.1%), an average of +0.5% a year. Over the whole period it spent 127% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Gateway Apartments Inc sits at the 23rd percentile: it is larger than about 23% of them. Against every charity in United States with reported income it ranks in the 26th percentile, and in the 25th percentile within AR. Charities of a similar size with the same main cause include House of Roses in Bloom ($67k), Century 21 Everest Realty Group Community Foundation ($67k) and His Kids Too Inc ($67k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 19% and program service revenue 80% of the total. Other salaries and wages came to $7,604. At year end it held assets of $391k against liabilities of $155k, net assets of $235k.

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.