Narrow Gate Foundation
- Assets
- $1.8m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 57
- Location
- Duck River, TN
- Founding
- 01/2005
- Data as of
- 12/2023
- EIN
- 20-1748295
Organization Overview
Narrow Gate Foundation is located in Duck River, TN. The organization was established in 2005. According to its NTEE Classification (P50) the organization is classified as: Personal Social Services, under the broad grouping of Human Services and related organizations. As of 12/2023, Narrow Gate Foundation employed 57 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Narrow Gate Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Narrow Gate Foundation generated $3.3m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 10.4% each year . All expenses for the organization totaled $3.5m during the year ending 12/2023. While expenses have increased by 12.6% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
A CHRISTIAN EXPERIENCE FOR YOUNG MEN FROM DISTRACTIONS OF LIFE, TO DISCOVER THEIR PURPOSE IN LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NARROW GATE'S PROGRAM IS AN 8 MONTH PROGRAM TO PROVIDE A CHRISTIAN DISCIPLESHIP EXPERIENCE FOR YOUNG MEN AGES 18-25, HAVING THEM LIVE IN A WILDERNESS ENVIRONMENT, PARTICIPATE IN DAILY CHORES AND COMMUNITY WORK PROJECTS TO BUILD TEAMWORK AND DEVELOP GOOD WORK DISCIPLINES, GOING ON CHALLENGING ADVENTURES AND STUDYING THE BIBLE AND OTHER CHRISTIAN CURRICULUM. IN 2023, APPROXIMATELY 32 YOUNG MEN PARTICIPATED IN NARROW GATE'S PROGRAM. AFTER GRADUATION, MOST OF THESE YOUNG MEN EITHER ELECT TO CONTINUE THEIR BIBLICAL LEARNING AND GO INTO FULL TIME MINISTRY WITH CHURCHES OR NON-PROFIT ORGANIZATIONS, ENTER UNIVERSITIES TO STUDY THE PASSION THAT GOD GAVE THEM, SUCH AS HORTICULTURE, HEALTH CARE AND BUSINESS DEGREES, OR ELECT TO SERVE IN THE MISSION FIELD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Spencer President, Co-Executive | OfficerTrustee | 40 | $109,747 |
Stacy Spencer Director, Co-Executive | OfficerTrustee | 40 | $109,209 |
Phil Stoner Director | Trustee | 40 | $58,406 |
Don White Treasurer | OfficerTrustee | 2 | $0 |
Don Lawrence Chairman | Trustee | 2 | $0 |
Kurt Beasley Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $163,277 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,690,386 |
| Noncash contributions included in lines 1a–1f | $7,200 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,853,663 |
| Total Program Service Revenue | $22,094 |
| Investment income | $2,858 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$277 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,449,146 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,327,484 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $24,693 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $300,769 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,524,098 |
| Pension plan accruals and contributions | $21,521 |
| Other employee benefits | $126,586 |
| Payroll taxes | $133,158 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,543 |
| Fees for services: Accounting | $77,986 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $54,721 |
| Advertising and promotion | $147,127 |
| Office expenses | $129,247 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $378,018 |
| Travel | $45,650 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $30,903 |
| Interest | $11,742 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $116,753 |
| Insurance | $68,062 |
| All other expenses | $0 |
| Total functional expenses | $3,494,391 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $572,086 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $325,862 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $110,016 |
| Prepaid expenses and deferred charges | $2,403 |
| Net Land, buildings, and equipment | $791,684 |
| Investments—publicly traded securities | $16,427 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,818,478 |
| Accounts payable and accrued expenses | $276,893 |
| Grants payable | $0 |
| Deferred revenue | $198,284 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $67,876 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $543,053 |
| Net assets without donor restrictions | $1,125,425 |
| Net assets with donor restrictions | $150,000 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,818,478 |