Gateway Academy Charter School

Analysis

Gateway Academy Charter School is a registered charity in United States, based in Newark, NJ. It received its IRS tax-exemption ruling in August 2012, 14 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Gateway Academy Charter School reported income of $11.0m and spending of $14.9m, spending 136% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $8.7m to $11.0m (+26%), an average of +5.8% a year. The sharpest change came in the year to June 2021, when income rose by 19%. Over the whole period it spent 104% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Gateway Academy Charter School sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within NJ. Charities of a similar size with the same main cause include Hill School Corporation of Middleburg ($11.0m), Yeshiva High School for Girls Inc ($11.0m) and Pacific School of Religion ($10.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% and program service revenue 0.0% of the total. Other salaries and wages came to $6.1m. At year end it held assets of $2.3m against liabilities of $778k, net assets of $1.5m. It reported 178 employees.