Gateway Second Chance Foundation is located in Suitland, MD. The organization was established in 2015. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gateway Second Chance 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 12/2022, Gateway Second Chance Foundation generated $101.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $103.6k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
ALTHOUGH COVID CONTINUED TO NEGATE FACE-TO-FACE FUNDRAISING ACTIVITIES, THE FOUNDATION SUCCESSFULLY HOSTED ITS SECOND VIRTUAL MAJOR FUNDRAISER AND PROMOTIONAL EVENT, OUR 7TH ANNUAL PRAYER BREAKFAST. THE FINANCIAL AND PROMOTIONAL SUCCESS OF THE EVENT WAS ENHANCED BY OUR STEADILY INCREASING KNOWLEDGE AND EXPERIENCE WITH SOCIAL MEDIA CAPABILITY DEMONSTRATED THROUGH OUR SHOWCASING THE 7 YEARS OF EXCELLENCE WITH GATEWAY AND THE EFFECTIVE IMPLEMENTATION OF ON-LINE STUDENT INTERVIEWS WITH THE KEYNOTE SPEAKER, THE 82ND ATTORNEY GENERAL OF THE UNITED STATES. ADDITIONAL IMPACTFUL INTERVIEWS WITH A PROGRAM PARENT AND A RECENT GATEWAY GRADUATE PLUS AN INCREASE IN SUSTAINING PARENTS [AN ESTABLISHED GROUP OF REPEAT DONORS] RESULTED IN APPROXIMATELY A 40% INCREASE IN NET REVENUE FOR THE EVENT. THAT SUPPORT IN ADDITION TO CONTINUING FINANCIAL SUPPORT FROM THE BUSINESS COMMUNITY AND AN INCREASE IN CORPORATE SPONSORSHIP, ENABLED US TO INCREASE FINANCIAL SUPPORT TO THE GATEWAY BOARDING ACADEMY, DESPITE INCREASED RENTAL COSTS AND INCREASED COST OF NECESSARY PROFESSIONAL CLEANING/DISINFECTING PROCEDURES TO MITIGATE THE RESIDUAL RISK OF COVID. ADDITIONALLY, HAVING COMPLETED ORGANIZATIONAL POLICY DEVELOPMENT, THE GATEWAY BOARD OF DIRECTORS AND VOLUNTEERS LEVERAGED THEIR EXPERIENCE AND EXPERTISE TO UNDERTAKE THE PROCESS OF DEVELOPING DETAILED STANDARD OPERATING PROCEDURES [SOPS] FOR EACH FUNCTIONING BOARD COMMITTEE IN PREPARATION FOR HIRING AN EXECUTIVE DIRECTOR FOR THE ORGANIZATION.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Clarence Carter Chairman | 22 | $0 | |
Donna Carter President | 20 | $0 | |
Sharon Watkins Treasurer | 4 | $0 | |
Alfred Lagarde Asst. Treasurer | 4 | $0 | |
Judy Carter Secretary | 4 | $0 | |
Deborah Swinson Director | 4 | $0 |
Statement of Revenue | |
---|---|
Total Revenue from Contributions, Gifts, Grants & Similar | $101,636 |
Total Program Service Revenue | $0 |
Membership dues | $0 |
Investment income | $0 |
Gain or Loss | $0 |
Net Income from Gaming & Fundraising | $0 |
Other Revenue | $0 |
Total Revenue | $101,636 |
Statement of Expenses | |
---|---|
Grants and similar amounts paid | $0 |
Benefits paid to or for members | $0 |
Salaries, other compensation, and employee benefits | $0 |
Professional fees and other payments to independent contractors | $150 |
Occupancy, rent, utilities, and maintenance | $30,000 |
Printing, publications, postage, and shipping | $0 |
Other expenses | $16,515 |
Total expenses | $103,612 |
Balance Sheet | |
---|---|
Cash, savings, and investments | $61,301 |
Other assets | $0 |
Total assets | $77,208 |
Total liabilities | $0 |
Net assets or fund balances | $77,208 |