Atlantic Gateway Communications Inc

Analysis

Atlantic Gateway Communications Inc is a registered charity in United States, based in Rockville, MD. It received its IRS tax-exemption ruling in December 2019, 7 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 December 2023, Atlantic Gateway Communications Inc reported income of $8.4m and spending of $8.7m, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $6.7m to $8.4m (+27%), an average of +6.1% a year. The sharpest change came in the year to December 2020, when income rose by 16%. Over the whole period it spent 85% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Atlantic Gateway Communications Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within MD. Charities of a similar size with the same main cause include Storm King Art Center ($8.4m), Friends of Oeta Inc ($8.5m) and Guardian Org Foundation ($8.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% and program service revenue 3.0% of the total. Compensation of current officers, directors and key employees was $415k (4.8% of expenses). Other salaries and wages came to $2.7m. It paid $308k in professional fundraising fees. At year end it held assets of $23.5m against liabilities of $15.6m, net assets of $7.9m. It reported 54 employees.