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Gateway Community Development Corp FY2022 filing

Tax-deductible

Yazoo City, MS501(c)(3)Human Services EIN 20-3771819Revenue $585K in FY2022

On file with the IRS941 Calhoun Ave, 39194-3229 · Yazoo City, MSTax-exempt since Feb 2008Publicly supported — 509(a)(2)

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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.

501(c)(3) charity; gifts are tax-deductible.
44¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 4
filings with a surplus
Average deficit $473K a year · 62% of revenue · last 4 filings
Concern: a surplus in 0 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
44%
of spending
Concern: 44% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.0 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.8M
147% of total assets
Concern: liabilities are 147% of assets; over 80%.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$585K
-34% vs prior year
Spent
$1.3M
To programs
44%
Net assets
−$577K
By yearFY2020–FY2023
Revenue
$585K
FY2022▼ -34%
Tap a bar for its year
Revenue by fiscal year
FY2020$830K
FY2021$885K
FY2022$585K
FY2023$747K
Expenses
$1.3M
FY2022▼ -3%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.2M
FY2021$1.3M
FY2022$1.3M
FY2023$1.2M
Net assets
−$577K
FY2022▼ -786%
Tap a bar for its year
Net assets by fiscal year
FY2020$489K
FY2021$84K
FY2022−$577K
FY2023$1.8M

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2023) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023. IRS ruling in Feb 2008.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

44 cents of each dollar spent went to programs.

Program services 44% · $553K Management & general 56% · $698K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

6 people listed on the 990.

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
Dawn Dodd
President
$0Pt VII · Sec A
See Gateway Community Development Corp executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers programs and aid to low-income individuals for charitable, scientific, and educational goals.

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Provided by the organization

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1 program · $28K · in their 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

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$585K
Ln 12
Fees for servicesLn 2g$540K
Gifts and grantsLn 1h$28K
Investment incomeLn 3$18K
Money outPt IX
$1.3M
Ln 25
Programscol B$553K
Managementcol C$698K
Owns and owesPt X
−$577K
net assets · Ln 32
Cash and savingsLn 1–2$4K
Total assetsLn 16$1.2M
LiabilitiesLn 26$1.8M
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$28K
Government grantsLn 1e$28K
Fees for servicesLn 2g$540K
Investment incomeLn 3$18K
Total revenueLn 12$585K
Assets in detailPt X, end of year
CashLn 1$4K
Cash and savings togetherLn 1–2$4K
Land, buildings, equipmentLn 10c$309K
Other assetsLn 15$912K
Total assetsLn 16$1.2M
LiabilitiesLn 26$1.8M
Net assetsLn 32−$577K
OperationsPt I, VI
EmployeesI 56
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$126K$4K
Land, buildings, equipmentLn 10c$343K$309K
Total assetsLn 16$1.2M$1.2M
LiabilitiesLn 26$1.1M$1.8M
Net assetsLn 32$84K−$577K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$208K$10K$198K
Other employee benefitsLn 9$61K$4K$57K
Legal feesLn 11b$10K$10K
Accounting feesLn 11c$11K$11K
Other fees for servicesLn 11g$164K$164K
Advertising and promotionLn 12$100$100
Office expensesLn 13$135K$175$135K
OccupancyLn 16$90K$90K
InterestLn 20$95K$42K$53K
Depreciation, depletion and amortizationLn 22$265K$226K$38K
InsuranceLn 23$16K$16K
Other expenses (24a–d)Ln 24$152K$152K
All other expensesLn 24e$44K$29K$16K
Total functional expensesLn 25$1.3M$553K$698K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest $747K$1.2M−$408K$1.8M 990 PDF
FY2022 Viewing $585K$1.3M−$666K−$577K 990 PDF
FY2021 $885K$1.3M−$407K$84K 990 PDF
FY2020 $830K$1.2M−$411K$489K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $585,181 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $241,605$27,838
I-9 Program service revenuePrior year $560,586$539,751
I-10 Investment incomePrior year $36,355$17,592
I-11 Other revenuePrior year $46,853$0
I-12 Total revenuePrior year $885,399$585,181
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $372,249$268,859
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $919,734$982,202
I-18 Total expensesPrior year $1,291,983$1,251,061
I-19 Revenue less expensesPrior year −$406,584−$665,880
Part VI · Governance 6 of 6 board members independent, 4 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $585,181 across 5 lines filed
VIII-1e Government grants$27,838
VIII-1h Total contributions, gifts and grants$27,838
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $539,751$539,751
VIII-3 Investment incomeRelated to mission $17,592$17,592
VIII-12 Total revenueRelated to mission $557,343$585,181
Part IX · Statement of functional expenses $1,251,061 across 13 lines filed
IX-7 Other salaries and wagesPrograms $9,881 · Management $198,439$208,320
IX-9 Other employee benefitsPrograms $4,032 · Management $56,507$60,539
IX-11b Legal feesManagement $10,411$10,411
IX-11c Accounting feesManagement $11,273$11,273
IX-11g Other fees for servicesManagement $163,928$163,928
IX-12 Advertising and promotionManagement $100$100
IX-13 Office expensesPrograms $175 · Management $134,690$134,865
IX-16 OccupancyPrograms $90,049$90,049
IX-20 InterestPrograms $42,068 · Management $53,304$95,372
IX-22 Depreciation, depletion and amortizationPrograms $226,142 · Management $38,439$264,581
IX-23 InsuranceManagement $15,543$15,543
IX-24 Other expenses (24a–d)Programs $151,866$151,866
IX-24e All other expensesPrograms $28,508 · Management $15,706$44,214
IX-25 Total functional expensesPrograms $552,721 · Management $698,340 · Fundraising $0$1,251,061
Part X · Balance sheet $1,228,211 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $125,955$3,870
X-9 Prepaid expenses and deferred chargesStart of year $8,640$3,196
X-10c Land, buildings and equipment, netStart of year $343,495$309,328
X-15 Other assetsStart of year $720,541$911,817
X-16 Total assetsStart of year $1,212,966$1,228,211
X-17 Accounts payable and accrued expensesStart of year $107,359$161,774
X-24 Unsecured notes and loans payableStart of year $590,000$960,000
X-25 Other liabilitiesStart of year $431,408$683,847
X-26 Total liabilitiesStart of year $1,128,767$1,805,621
X-27 Net assets without donor restrictionsStart of year $84,199−$577,410
X-32 Total net assets or fund balancesStart of year $84,199−$577,410
X-33 Total liabilities and net assetsStart of year $1,212,966$1,228,211
Part XI · Reconciliation of net assets −$577,410 net assets at year end
XI-1 Total revenue$585,181
XI-2 Total expenses$1,251,061
XI-3 Revenue less expenses−$665,880
XI-4 Net assets at start of year$84,199
XI-9 Other changes in net assets$4,271
XI-10 Net assets at end of year−$577,410

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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