Gateways Academy Inc

Analysis

Gateways Academy Inc is a registered charity in United States, based in Auburn, MA. It received its IRS tax-exemption ruling in April 2021, 5 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 2024, Gateways Academy Inc reported income of $450k and spending of $418k, spending 93% of its income. Across the 3 years on record, from June 2022 to June 2024, income grew from $221k to $450k (+103%), an average of +43% a year. The sharpest change came in the year to June 2023, when income rose by 50%. Over the whole period it spent 99% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Gateways Academy Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 69th percentile within MA. Charities of a similar size with the same main cause include Avela - a Vision for Engineering Literacy & Access ($450k), Secret Garden Montessori ($450k) and American College Credit Scholars in ($450k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 17% and program service revenue 82% of the total. Compensation of current officers, directors and key employees was $107k (26% of expenses). Other salaries and wages came to $141k. At year end it held assets of $119k against liabilities of $0, net assets of $119k. It reported 17 employees.