Gateway STEM Academy

Analysis

Gateway STEM Academy is a registered charity in United States, based in Burnsville, MN. It received its IRS tax-exemption ruling in February 2019, 7 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 STEM Academy reported income of $3.8m and spending of $4.5m, spending 119% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.3m to $3.8m (+63%), an average of +13% a year. The sharpest change came in the year to June 2021, when income rose by 46%. Over the whole period it spent 103% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Gateway STEM Academy sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 90th percentile within MN. Charities of a similar size with the same main cause include New Hope Charter School ($3.8m), Acton Nga School ($3.8m) and Montgomery Preparatory Academy ($3.8m).

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. Compensation of current officers, directors and key employees was $280k (6.1% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $1.8m against liabilities of $2.3m, net assets of -$526k. It reported 68 employees.