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Gateway Area Foundation

Tax-deductible

Clinton, IA501(c)(3)Foundations & Grantmakers EIN 42-1270203Revenue $74K in FY2025

On file with the IRS721 South Second Street, 52732-4259 · Clinton, IATax-exempt since Nov 2003Publicly supported charity — 170(b)(1)(A)(vi)

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To promote economic education and community development

501(c)(3) charity; gifts are tax-deductible.
100¢ 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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FY2025 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average surplus $721 a year · 1% of revenue · last 5 filings
Worth a look: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
24 mo
of spending, in cash
Looks good: 23.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$11K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$74K
+29% vs prior year
Spent
$77K
To programs
100%
Net assets
$587K
By yearFY2020–FY2025
Revenue
$74K
FY2025▲ +29%
Tap a bar for its year
Revenue by fiscal year
FY2020$60K
FY2021$84K
FY2022$83K
FY2023$57K
FY2025$74K
Expenses
$77K
FY2025▲ +28%
Tap a bar for its year
Expenses by fiscal year
FY2020$62K
FY2021$72K
FY2022$83K
FY2023$60K
FY2025$77K
Net assets
$587K
FY2025▲ +2%
Tap a bar for its year
Net assets by fiscal year
FY2020$567K
FY2021$579K
FY2022$578K
FY2023$576K
FY2025$587K

From the FY2025 Form 990 (year ending May 2025) · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 2003.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $77K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

9 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$0Pt VII · Sec A
Eddie Dunham
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Karen Rowell
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Lori Susie
Director
$0Pt VII · Sec A
Rod Tokheim
Director
$0Pt VII · Sec A
See Gateway Area Foundation 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

Promotes economic education and community development.

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Provided by the organization

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1 program · $77K · in their own filed words · FY2024
01

Provide funding for educational and leadership projects and community development

$77Kprogram expense

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$74K
Ln 12
Fees for servicesLn 2g$65K
Other incomeLn 4–11$10K
Money outPt IX
$77K
Ln 25
Programscol B$77K
Owns and owesPt X
$587K
net assets · Ln 32
Cash and savingsLn 1–2$151K
Total assetsLn 16$598K
LiabilitiesLn 26$11K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$65K
Other incomeLn 4–11$10K
Total revenueLn 12$74K
Assets in detailPt X, end of year
CashLn 1$144K
SavingsLn 2$7K
Cash and savings togetherLn 1–2$151K
Land, buildings, equipmentLn 10c$445K
Total assetsLn 16$598K
LiabilitiesLn 26$11K
Net assetsLn 32$587K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderMay
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 FY25End FY25
Cash and savingsLn 1–2$168K$151K
Land, buildings, equipmentLn 10c$431K$445K
Total assetsLn 16$600K$598K
LiabilitiesLn 26$10K$11K
Net assetsLn 32$590K$587K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
OccupancyLn 16$46K$46K
Depreciation, depletion and amortizationLn 22$17K$17K
InsuranceLn 23$8K$8K
Other expenses (24a–d)Ln 24$7K$7K
Total functional expensesLn 25$77K$77K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $74K$77K−$3K$587K 990 PDF
FY2024 Not on file
FY2023 $57K$60K−$3K$576K 990 PDF
FY2022 $83K$83K−$504$578K 990 PDF
FY2021 $84K$72K$12K$579K 990 PDF
FY2020 $60K$62K−$2K$567K 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 FY2025 990 (6 parts)
Part I · Summary $74,089 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $62,962$64,521
I-10 Investment income$0
I-11 Other revenuePrior year $9,028$9,568
I-12 Total revenuePrior year $71,990$74,089
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $57,637$76,777
I-18 Total expensesPrior year $57,637$76,777
I-19 Revenue less expensesPrior year $14,353−$2,688
Part VI · Governance 8 of 8 board members independent, 4 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
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 $74,089 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $64,521$64,521
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $9,568$9,568
VIII-12 Total revenueRelated to mission $74,089$74,089
Part IX · Statement of functional expenses $76,777 across 4 lines filed
IX-16 OccupancyPrograms $45,512$45,512
IX-22 Depreciation, depletion and amortizationPrograms $16,615$16,615
IX-23 InsurancePrograms $7,794$7,794
IX-24 Other expenses (24a–d)Programs $6,856$6,856
IX-25 Total functional expensesPrograms $76,777 · Management $0 · Fundraising $0$76,777
Part X · Balance sheet $597,918 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $160,733$144,275
X-2 Savings and temporary cash investmentsStart of year $6,987$7,135
X-9 Prepaid expenses and deferred chargesStart of year $1,646$1,286
X-10c Land, buildings and equipment, netStart of year $430,812$445,222
X-16 Total assetsStart of year $600,178$597,918
X-19 Deferred revenueStart of year $750$750
X-25 Other liabilitiesStart of year $9,177$9,820
X-26 Total liabilitiesStart of year $10,142$10,570
X-27 Net assets without donor restrictionsStart of year $583,049$580,361
X-28 Net assets with donor restrictionsStart of year $6,987$6,987
X-32 Total net assets or fund balancesStart of year $590,036$587,348
X-33 Total liabilities and net assetsStart of year $600,178$597,918
Part XI · Reconciliation of net assets $587,348 net assets at year end
XI-1 Total revenue$74,089
XI-2 Total expenses$76,777
XI-3 Revenue less expenses−$2,688
XI-4 Net assets at start of year$590,036
XI-10 Net assets at end of year$587,348

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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