Gateway Technical College Foundation INC FY2024 filing

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The Gateway Technical College Foundation supports the mission of the College by raising community awareness and financial resources, broadening its base of support and providing programs such as scholarships, grants and funds for educational growth. The Foundation will enhance the college's tradition of excellence by being responsive to its needs and strengthening the vitality and well-being of the diverse communities IT serves.

Form 990 Part I, line 1, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 39-1290708) · Dispute this line
501(c)(3) charity; gifts are tax-deductible.
90¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
The IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
The latest return is for FY2025, 1 tax year back.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $1.7M a year · 53% of revenue · last 6 filings
A surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
90%
of spending
90% of spending went to programs.
Pt IX · Ln 25 · col B
8.9 mo
of spending, in cash
Plus $18.6M in investments, Pt X · Ln 11–13
8.9 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $134K
2 funders name it on their filings.
Funders’ Sch. I, 990-PF
Liabilities
$439K
2% of total assets
Liabilities are 2% of assets.
Pt X · Ln 26
Independent board members
15
of 15 voting members
15 of 15 voting members are independent.
Pt VI · Ln 1a–1b
Revenue
$2.5M
+53% vs prior year
Spent
$1.7M
To programs
90%
Net assets
$21.1M
By yearFY2020–FY2025
Revenue
$2.5M
FY2024▲ +53%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.5M
FY2021$8.7M
FY2022$2.1M
FY2023$1.6M
FY2024$2.5M
FY2025$2.4M
Expenses
$1.7M
FY2024▲ +62%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.0M
FY2021$2.0M
FY2022$1.1M
FY2023$1.1M
FY2024$1.7M
FY2025$2.5M
Net assets
$21.1M
FY2024▲ +6%
Tap a bar for its year
Net assets by fiscal year
FY2020$12.5M
FY2021$21.1M
FY2022$18.5M
FY2023$19.8M
FY2024$21.1M
FY2025$21.8M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 1978.

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

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $1.5M Management & general 8% · $137K Fundraising 2% · $39K

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

21 people listed on the 990.

Part VII, Section A · reportable compensation
Executive Dir.
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
See Gateway Technical College Foundation INC executive salaries →

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

Raises funds and awareness to support college programs, scholarships, and community well-being.

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3 programs · $1.5M · in their own filed words · FY2023
01

Grants and scholarships awarded to students attending gateway technical college to further their education and support to further the educational mission of the COLLEGE.THERE were 388 scholarships awarded to 560 students for the year ended 06-30-2024.

Form 990 Part III, line 4, FY2023. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 39-1290708) · Dispute this line
$855Kprogram expense
02

Building and capital funding granted to the college stem 101 customized health career kit, other supplies, marketing, events and meetings

Form 990 Part III, line 4, FY2023. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 39-1290708) · Dispute this line
$674Kprogram expense
03

Food for Thought

This referral based program connects students with resources on campus and in the community to ensure they have what they need to succeed, such as an emergency grocery store gift card. To access the program, students must meet with a financial aid specialist or student support counselor on their campus.

Form 990 Part III, line 4, FY2023. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 39-1290708) · Dispute this line
$4Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 2 funders$134K
Grants paid · 7 grants · $1.7M · 2019–2024
Gateway Technical CollegeFY2024$249,034
Gateway Technical CollegeFY2024$164,827
Gateway Technical CollegeFY2023$171,039
Gateway Technical CollegeFY2022$140,626
Gateway Technical CollegeFY2021$204,051
Gateway Technical CollegeFY2020$550,197
Individual RecipientFY2019$220,925

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$2.5M
Ln 12
Investment incomeLn 3$1.2M
Gifts and grantsLn 1h$1.1M
Other incomeLn 4–11$116K
Money outPt IX
$1.7M
Ln 25
Programscol B$1.5M
Managementcol C$137K
Fundraisingcol D$39K
Owns and owesPt X
$21.1M
net assets · Ln 32
Cash and savingsLn 1–2$1.3M
Total assetsLn 16$21.5M
LiabilitiesLn 26$439K
PeoplePt VI, VII
21
listed · VII A
PaidVII A0
Voting boardVI 1a15
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.1M
Noncash giftsLn 1g$357K
Investment incomeLn 3$1.2M
Other incomeLn 4–11$116K
Gains on assetsLn 7$0
Total revenueLn 12$2.5M
Assets in detailPt X, end of year
CashLn 1$331K
SavingsLn 2$939K
Cash and savings togetherLn 1–2$1.3M
Accounts receivableLn 4$4K
Prepaid expenses and deferred chargesLn 9$6K
Land, buildings, equipmentLn 10c$354K
InvestmentsLn 11–13$18.6M
Other assetsLn 15$1.3M
Total assetsLn 16$21.5M
LiabilitiesLn 26$439K
Net assetsLn 32$21.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 645
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3More from this return
Abroad and in kindSch F, M
Noncash gifts receivedSch M Pt I$357K
EndowmentSch D · Pt V
LineFY24FY23FY22FY21FY20
End of yearLn 1g$12.3M$11.2M$9.8M$12.3M$9.5M
AddedLn 1b$247K$242K$276K$658K$301K
SpentLn 1d–1f$522K$528K$528K$629K$384K
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$905K$1.3M
InvestmentsLn 11–13$16.2M$18.6M
Land, buildings, equipmentLn 10c$554K$354K
Total assetsLn 16$20.0M$21.5M
LiabilitiesLn 26$272K$439K
Net assetsLn 32$19.8M$21.1M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$171K$171K
Grants to domestic individualsLn 2$860K$860K
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of officers and key staff (Part IX, line 5)Ln 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$57K$57K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$30K$30K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$0
Office expensesLn 13$229$229
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$448$448
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$5K$5K
Other expenses (24a–d)Ln 24$542K$426K$99K$18K
All other expensesLn 24e$44K$20K$3K$21K
Total functional expensesLn 25$1.7M$1.5M$137K$39K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS May 15, 2026 $2.4M$2.5M−$108K$21.8M 990 PDF
FY2024 ViewingFiled with the IRS May 13, 2025 $2.5M$1.7M$746K$21.1M 990 PDF
FY2023Filed with the IRS May 15, 2024 $1.6M$1.1M$547K$19.8M 990 PDF
FY2022Filed with the IRS May 15, 2023 $2.1M$1.1M$983K$18.5M 990 PDF
FY2021Filed with the IRS May 16, 2022 $8.7M$2.0M$6.7M$21.1M 990 PDF
FY2020Filed with the IRS May 18, 2021 $2.5M$1.0M$1.5M$12.5M 990 PDF

Schedules filed Part IV

A · Public support D · Assets and endowments I · Grants M · Noncash O · Explanations
See the full FY2024 990
Part I · Summary $2,457,456 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $663,661$1,141,844
I-9 Program service revenue$0
I-10 Investment incomePrior year $735,981$1,199,731
I-11 Other revenuePrior year $204,090$115,881
I-12 Total revenuePrior year $1,603,732$2,457,456
I-13 Grants and similar amounts paidPrior year $802,937$1,031,446
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $36,320$57,189
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $217,567$622,493
I-18 Total expensesPrior year $1,056,824$1,711,128
I-19 Revenue less expensesPrior year $546,908$746,328
Part VI · Governance 15 of 15 board members independent, 1 to look at
VI-1a Voting members of the governing body15
VI-1b Independent voting members15
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $2,457,456 across 9 lines filed
VIII-1f All other contributions, gifts and grants$1,141,844
VIII-1g Noncash contributions (included above)$356,666
VIII-1h Total contributions, gifts and grants$1,141,844
VIII-3 Investment incomeExcluded from tax $1,199,731$1,199,731
VIII-5 Royalties$0
VIII-6 Net rental income or lossExcluded from tax $38,991$38,991
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$76,890
VIII-12 Total revenueExcluded from tax $1,238,722$2,457,456
Part IX · Statement of functional expenses $1,711,128 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $171,039$171,039
IX-2 Grants to domestic individualsPrograms $860,407$860,407
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of officers and key staff (Part IX, line 5)$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $57,189$57,189
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting feesManagement $29,971$29,971
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-12 Advertising and promotion$0
IX-13 Office expensesPrograms $229$229
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 TravelPrograms $448$448
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 InsuranceManagement $5,355$5,355
IX-24 Other expenses (24a–d)Programs $425,857 · Management $98,656 · Fundraising $17,708$542,221
IX-24e All other expensesPrograms $19,531 · Management $3,241 · Fundraising $21,497$44,269
IX-25 Total functional expensesPrograms $1,534,700 · Management $137,223 · Fundraising $39,205$1,711,128
Part X · Balance sheet $21,490,015 assets, 23 lines filed
X-1 Cash, non-interest-bearingStart of year $342,642$330,638
X-2 Savings and temporary cash investmentsStart of year $562,718$938,836
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$3,950
X-5 Loans to officers and key people$0
X-6 Loans to other insiders$0
X-7 Notes and loans receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred chargesStart of year $5,253$5,744
X-10c Land, buildings and equipment, netStart of year $554,230$354,139
X-11 Publicly traded securitiesStart of year $16,197,931$18,598,410
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $2,381,579$1,258,298
X-16 Total assetsStart of year $20,044,353$21,490,015
X-17 Accounts payable and accrued expensesStart of year $81,181$90,508
X-25 Other liabilitiesStart of year $191,312$348,529
X-26 Total liabilitiesStart of year $272,493$439,037
X-27 Net assets without donor restrictionsStart of year $1,465,311$3,181,851
X-28 Net assets with donor restrictionsStart of year $18,306,549$17,869,127
X-32 Total net assets or fund balancesStart of year $19,771,860$21,050,978
X-33 Total liabilities and net assetsStart of year $20,044,353$21,490,015
Part XI · Reconciliation of net assets $21,050,978 net assets at year end
XI-1 Total revenue$2,457,456
XI-2 Total expenses$1,711,128
XI-3 Revenue less expenses$746,328
XI-4 Net assets at start of year$19,771,860
XI-5 Net unrealized gains (losses) on investments$720,564
XI-8 Prior period adjustments−$187,774
XI-10 Net assets at end of year$21,050,978

Form 990 e-file FY2024 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File

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