Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $156,046

• 1f · All other contributions, gifts and grants

  $257,144

• 3 · Investment income

  total $67 · excluded $67

• 8a · Fundraising events: gross income

  $8,848

• 8a · Fundraising events: contributions included on line 1c

  $156,046

• 8b · Fundraising events: direct expenses

  $73,222

• 8c · Net income from fundraising events

  total -$64,374 · excluded -$64,374

• 11d · All other revenue

  total $125 · excluded $125

• 11e · Other revenue, total

  $125

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $205,893 · program services $205,893

• 7 · Other salaries and wages

  total $199,776 · fundraising $199,776

• 8 · Pension plan contributions

  total $1,078 · fundraising $1,078

• 9 · Other employee benefits

  total $14,183 · fundraising $14,183

• 10 · Payroll taxes

  total $14,404 · fundraising $14,404

• 12 · Advertising and promotion

  total $18,589 · fundraising $18,589

• 13 · Office expenses

  total $8,311 · fundraising $8,311

• 14 · Information technology

  total $17,541 · fundraising $17,541

• 17 · Travel

  total $6,964 · fundraising $6,964

• 24a · Other expenses: Staff Development and R

  total $3,171 · fundraising $3,171

• 24e · All other expenses

  total $3,048 · fundraising $3,048

Balance sheet

Part X, book values.

• 11 · Investments: publicly traded securities

  beginning of year $1,399,299 · end of year $1,387,058

• 15 · Other assets

  beginning of year $8,671,584 · end of year $8,671,987

• 17 · Accounts payable and accrued expenses

  beginning of year $5,765 · end of year $9,834

• 27 · Net assets without donor restrictions

  beginning of year $7,988,023 · end of year $8,016,981

• 28 · Net assets with donor restrictions

  beginning of year $2,077,095 · end of year $2,032,230

The filer's explanations (Part III)

Part I, Line 3

The Board of Directors of the Gateway Foundation, Inc., a related organization, through their Executive Committee, develops the compensation plan for the executive staff and establishes appropriate salary ranges and other features of the compensation plan. Gateway Foundation, Inc. has used compensation surveys and independent consultants in 2008, 2012, 2013, and 2019. The Chief Executive Officer's compensation is determined by the Executive Committee. Salaries for the other members of the executive staff are developed by the CEO, within approved parameters, and are approved by the Executive Committee. All Executive Committee members are free of conflict, and are required to disclose any potential conflicts at each meeting prior to taking action on any item. Committee meeting minutes include the Committee members' conflict of interest disclosure responses; should a Committee member disclose a potential conflict, the Committee member is recused, if deemed appropriate by the remainder of the Committee members, and abstains from voting.

Part I, Line 4a

Tomas Del Rio received a severance payment of $226,865.