Gateway Academy

Analysis

Gateway Academy is a registered charity in United States, based in Gloucester, VA. It received its IRS tax-exemption ruling in September 2020, 6 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 December 2023, Gateway Academy reported income of $1.7m and spending of $1.3m, spending 81% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $354k to $1.7m (+370%), an average of +68% a year. The sharpest change came in the year to December 2021, when income rose by 130%. Over the whole period it spent 83% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Gateway Academy sits at the 81st percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 85th percentile within VA. Charities of a similar size with the same main cause include Tilden Livestock Scholarship Association ($1.7m), Walnut Farm Montessori School ($1.7m) and Hope Academy Baltimore Inc ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $231k (17% of expenses). Other salaries and wages came to $480k. At year end it held assets of $911k against liabilities of $228k, net assets of $683k. It reported 23 employees.