Gatewood Martin Mansion Foundation

Analysis

Gatewood Martin Mansion Foundation is a registered charity in United States, based in Norfolk, VA. It received its IRS tax-exemption ruling in July 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending May 2024, Gatewood Martin Mansion Foundation reported income of $377k and spending of $377k, spending 100% of its income. Across the 4 years on record, from May 2020 to May 2024, income grew from $201k to $377k (+88%), an average of +23% a year. The sharpest change came in the year to May 2022, when income rose by 73%. Over the whole period it spent 93% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Gatewood Martin Mansion Foundation sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 65th percentile within VA. Charities of a similar size with the same main cause include Oregon Black Pioneers Corporation ($377k), North Topeka Arts District Inc ($377k) and The Louisville Leopard Persussionist ($377k).

On its Form 990 for the period ending May 2024, revenue came from contributions and grants 1.5% and program service revenue 99% of the total. At year end it held assets of $401k against liabilities of $329k, net assets of $72k.