Gateway Foundation

Analysis

Gateway Foundation is a registered charity in United States, based in Harvey, LA. It received its IRS tax-exemption ruling in July 1997, 29 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 September 2023, Gateway Foundation reported income of $1.9m and spending of $1.9m, spending 99% of its income. Across the 5 years on record, from September 2019 to September 2023, income fell from $2.6m to $1.9m (-28%), an average of -7.8% a year. The sharpest change came in the year to September 2022, when income dropped by 17%. Over the whole period it spent 86% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Gateway Foundation sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within LA. Charities of a similar size with the same main cause include North Shore Country Day School Foundation ($1.9m), Seeds of Mustard Ministries Corporation ($1.9m) and Voice of Judah Israel Inc ($1.9m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 97% and program service revenue 2.1% of the total. Compensation of current officers, directors and key employees was $452k (24% of expenses). Other salaries and wages came to $198k. At year end it held assets of $2.0m against liabilities of $234k, net assets of $1.7m. It reported 17 employees.