Gateway Foundation Nj Inc
- Assets
- $55.4k
- Revenue
- $49.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Westfield, NJ
- Founding
- Data as of
- 12/2017
- EIN
- 75-3260652
Organization Overview
Gateway Foundation Nj Inc is located in Westfield, NJ.
For the year ending 12/2017, Gateway Foundation NJ Inc generated $49.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (11.3%) each year. All expenses for the organization totaled $62.9k during the year ending 12/2017. As we would expect to see with falling revenues, expenses have declined by (6.2%) per year over the past 2 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2017
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION PROVIDES FINANCIAL ASSISTANCE TO COMMUNITY MEMBERS WHO ARE SEEKING A NEW START AND/OR ARE STRIVING TO IMPROVE THEIR LIVING SITUATIONS BUT ARE FINANCIALLY CONSTRAINED. THIS INCLUDES FINANCIAL ASSISTANCE FOR THE BASIC NEEDS OF DAILY LIVING INCLUDING RENT,TRANSPORTATION AND DAILY SUSTENANCE. DURING 2016, 4 INDIVIDUALS/FAMILIES WERE DIRECTLY ASSISTED. THE FOUNDATION ALSO PAID GRANTS TO ANOTHER CHARITY WHICH WERE USED TO HELP ASSIST 1,500 PEOPLE WITH DAILY SUSTENANCE DURING 2017.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Margaret Gately President | 10 | $0 | |
Timothy Okay Secretary | 2 | $0 | |
Jean Torrisi Treasurer | 2 | $0 | |
Gloria Verdone Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $49,266 |
| Interest on Savings | $242 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $49,508 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $88 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,632 |
| Total operating and administrative expenses | $3,720 |
| Contributions, gifts, grants paid | $59,162 |
| Total expenses and disbursements | $62,882 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,686 |
| Savings and temporary cash investments | $47,698 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $55,384 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Gateway Foundation Nj Inc has awarded $59,162 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
JUDY PERRY PURPOSE: PROVIDE CARE TO THE NEEDY | $15,040 |
STREET LIGHT MISSION PURPOSE: CARE FOR THOSE STRUGGLING ON THE ST. | $10,093 |
CATHY CAROLAN PURPOSE: PROVIDE CARE TO THE NEEDY | $19,925 |
MIKSIS FAMILY PURPOSE: PROVIDE CARE TO THE NEEDY | $5,604 |
VERONICA HEGEDUS PURPOSE: PROVIDE CARE TO THE NEEDY | $8,500 |