Gates School
- Assets
- $5.3m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 0
- Location
- North Charleston, SC
- Founding
- Data as of
- 06/2022
- EIN
- 85-1025677
Organization Overview
Gates School is located in North Charleston, SC. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gates School is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
GATES SCHOOL'S MISSION IS TO PROVIDE AN EXCEPTIONAL, EVIDENCE-BASED, MULTI-SENSORY EDUCATION FOR STUDENTS WITH DYSLEXIA TO OPEN THE GATES TO THIER INDIVIDUAL ACADEMIC POTENTIAL, IN AN ENVIRONMENT THAT EMPOWERS STUDENTS TO DEVELOP A POSITIVE AND SOCIALLY CONSCIOUS SELF-IMAGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN ITS FIRST YEAR OF OPERATIONS AS A SCHOOL, GATES ENROLLED APPROXIMATELY 100 STUDENTS IN GRADES ONE THROUGH FIVE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rosie Herold Board Member | Trustee | 2 | $0 |
George Hynd Board Member | Trustee | 2 | $0 |
Sedric Webber Board Member | Trustee | 2 | $0 |
Ashley Goverman Secretary | Officer | 2 | $0 |
Trey Zimmerman Vice Chair | Officer | 2 | $0 |
Eric Bentson Treasurer | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,863,001 |
| All other contributions, gifts, grants, and similar amounts not included above | $55,872 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,918,873 |
| Total Program Service Revenue | $9,663 |
| Investment income | $63 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $61,373 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,989,972 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $824,008 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $85,231 |
| Payroll taxes | $61,901 |
| Fees for services: Management | $507 |
| Fees for services: Legal | $21,456 |
| Fees for services: Accounting | $7,095 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $279,697 |
| Advertising and promotion | $6,136 |
| Office expenses | $5,265 |
| Information technology | $28,557 |
| Royalties | $0 |
| Occupancy | $63,362 |
| Travel | $16,141 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $383,074 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $84,222 |
| Insurance | $22,023 |
| All other expenses | $13,187 |
| Total functional expenses | $1,974,474 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $494,852 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $292,340 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $18,008 |
| Net Land, buildings, and equipment | $4,452,776 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,663 |
| Total assets | $5,261,639 |
| Accounts payable and accrued expenses | $408,350 |
| Grants payable | $0 |
| Deferred revenue | $1,875 |
| 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 | $5,305,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $44,215 |
| Total liabilities | $5,759,440 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | -$497,801 |
| Total liabilities and net assets/fund balances | $5,261,639 |