Gateway Community Development Corp EIN 20-3771819 Form 990 (PDF) Claim this org

Gateway Community Development Corp FY2022 filing

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Offers programs and aid to low-income individuals for charitable, scientific, and educational goals. For fiscal year 2022 it reported $585K in revenue, $1.3M in expenses, and $-577K in net assets.Pt I

Type
Public charity (501(c)(3)) · Human Services
Location
Yazoo City, MS
Filings
4 on file (2020–2022)
Revenue
$585KFY2022
Expenses
$1.3M
Net assets
$-577K
People
6
Filings
4
Updates
0
More identity details & actions ⌄
EIN  20-3771819 Public charity (501(c)(3)) Yazoo City, MS
Form 990 (PDF)
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2023) →
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Size
$100K–1M
What they do
Offers programs and aid to low-income individuals for charitable, scientific, and educational goals.
Leadership
Katie Evans · Member
Money in and out
$585K revenue, $1.3M expenses
Bottom line
44% program efficiency
Where the money goes · FY2022
Total revenue
$585K
Pt VIII · Ln 12
Total expenses
$1.3M
Pt IX · Ln 25
Net assets
$-577K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$666K
Where spending went · Part IX cols B–D
Program services $0.44 Management & general $0.56
Program efficiency
44%
of spending reaches programs
Operating runway
0.0mo
months of highly liquid reserves at operating expense rate
Surplus margin
-114%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Revenue
$585K
FY2022▼ -34%
Expenses
$1.3M
FY2022▼ -3%
Total assets
$1.2M
FY2022▲ +1%
Total liabilities
$1.8M
FY2022▲ +60%
Total revenue
$585K
Pt VIII · Ln 12
Total expenses
$1.3M
Pt IX · Ln 25
Net assets
$-577K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$666K
Total assetsPt X · Ln 16$1.2M
Program-expense ratioPt IX · col B44%
Voting members of governing bodyPt I · Ln 36
Independent voting membersPt I · Ln 46
Mission & Programs · Part III

Where the work happens

1 program service account for $28K of program spending, described in the organization's own filed words · FY2022.
01

Provide programs and assistance exclusively for charitable, scientific, and educational purposes, more especially for the relief of low-income persons within the meaning of section 501(c)(3) of the internal revenue code.

$28Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CGateway Community Development Corp
EINHdr · item D20-3771819
Principal addressHdr · item CYazoo City, MS
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMS
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHuman Services (P20)
Ruling yearIRS BMFFeb 2008

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a6
Independent voting membersPt VI · Ln 1b6
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
President
$0Pt VII · Sec A
See Gateway Community Development Corp executive salaries →

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Statement of Revenue

Part VIII
Program service revenue$540K · 92%
Contributions & grants$28K · 5%
Investment income$18K · 3%
Program service revenue92%$540K
Contributions & grants5%$28K
Investment income3%$18K
— government grantsLn 1e$28K
Total revenueLn 12$585K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.44 Management & general $0.56
Program services44%$553K
Management & general56%$698K
Total functional expensesLn 25$1.3M

Balance Sheet

Part X · end of year
CashLn 1$4K
Total assetsLn 16$1.2M
Total liabilitiesLn 26$1.8M
Total net assetsLn 32$-577K
Months of cash on handcomputed0.0

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $4K · Operating expenses/yr $1.3M
0.0 months
Where the money goes
Program services
Program services $553K · Total expenses $1.3M
44%
Management & General
Management & general $698K · Total expenses $1.3M
56%
Fundraising
Fundraising $0 · Total expenses $1.3M
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $0
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $28K · Total revenue $585K
5%
Government reliance
Government grants $28K · Total revenue $585K
5%
Earned-income share
Program service revenue $540K · Total revenue $585K
92%
Investment reliance
Investment income $18K · Total revenue $585K
+3%
Program self-sufficiency
Program service revenue $540K · Total expenses $1.3M
43%
Growth & trend
Revenue growth (YoY)
This year $585K · Prior year $885K
-34%
Net-asset trend (YoY)
End of year $-577K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $585K · Expenses $1.3M
-114%
Liabilities-to-Assets
Total liabilities — · Total assets $1.2M
Net-asset ratio
Net assets $-577K · Total assets $1.2M
-47%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.2M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Katie Evans · Reported title MEMBER · Highest reported compensation $0 · Total expenses $1.3M
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $269K · Total expenses $1.3M
21%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 44%
Overhead ratio 56%
Fundraising cost ratio 0%
Revenue growth -34%
Legal fee ratio 0.8%
Accounting fee ratio 0.9%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2023 (Latest)$747K revenue · ⤓ 990 PDF
FY2022$585K revenue · viewing · ⤓ 990 PDF
FY2021$885K revenue · ⤓ 990 PDF
FY2020$830K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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