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Nonprofiteer
← GATEWAY HOUSING CORPORATION

Form 990 for tax year 2024

Filed by GATEWAY HOUSING CORPORATION.

Totals

Total revenue
$594,189
Total expenses
$705,691
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$578,897
Investment income
$15,267
Other revenue
$25
Total assets, end of year
$1,770,055
Total liabilities, end of year
$3,825,181
Net assets or fund balances, end of year
-$2,055,126
Program services expenses (Part IX)
$663,173
Management and general expenses
$42,518
Fundraising expenses
$0
Program service expenses (Part III)
$663,173

Program services were 94.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: RENTAL SERVICES

    total $578,897 · related or exempt $578,897

  • 3 · Investment income

    total $15,267 · excluded $15,267

  • 11d · All other revenue

    total $25 · related or exempt $25

  • 11e · Other revenue, total

    $25

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $80,351 · program services $51,814 · management and general $28,537

  • 11b · Fees: legal

    total $7,758 · program services $7,758

  • 11c · Fees: accounting

    total $13,981 · management and general $13,981

  • 11g · Fees: other

    total $1,720 · program services $1,720

  • 12 · Advertising and promotion

    total $2,012 · program services $2,012

  • 13 · Office expenses

    total $6,912 · program services $6,912

  • 16 · Occupancy

    total $111,186 · program services $111,186

  • 20 · Interest

    total $144,527 · program services $144,527

  • 22 · Depreciation, depletion and amortization

    total $149,375 · program services $149,375

  • 23 · Insurance

    total $62,811 · program services $62,811

  • 24a · Other expenses: REPAIRS & MAINTENANCE

    total $73,682 · program services $73,682

  • 24b · Other expenses: BAD DEBT

    total $49,584 · program services $49,584

  • 24c · Other expenses: DUES

    total $1,792 · program services $1,792

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $35,660 · end of year $96,499

  • 4 · Accounts receivable

    beginning of year $57,066 · end of year $86,022

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,617 · end of year $5,348

  • 10a · Land, buildings and equipment: cost or other basis

    $4,276,186

  • 10b · Land, buildings and equipment: accumulated depreciation

    $3,027,836

  • 10c · Land, buildings and equipment, net

    beginning of year $1,105,435 · end of year $1,248,350

  • 15 · Other assets

    beginning of year $451,022 · end of year $333,836

  • 17 · Accounts payable and accrued expenses

    beginning of year $21,600 · end of year $319,603

  • 19 · Deferred revenue

    beginning of year $5,909 · end of year $5,442

  • 21 · Escrow or custodial account liability

    beginning of year $36,655 · end of year $36,872

  • 23 · Secured mortgages and notes payable

    beginning of year $2,826,025 · end of year $2,747,029

  • 25 · Other liabilities

    beginning of year $705,235 · end of year $716,235

  • 27 · Net assets without donor restrictions

    beginning of year -$1,943,624 · end of year -$2,055,126

Mission and programs · 2024

Mission

TO PROVIDE AFFORDABLE AND DECENT HOUSING TO PERSONS AND FAMILIES OF LOW INCOME IN BROOKLYN, NEW YORK.

  • TO PROVIDE AFFORDABLE HOUSING FOR PERSONS OF LOW INCOME.

    Expenses $663,173 · Revenue $578,922

As filed on the 2024 return.

Listed in Part VII

  • Diana Breen

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 37 related

  • Heather Gershen

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5 + 3.5 related

  • Imani Griszell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 3.5 related

  • Yvonne Cummings

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5 + 3.5 related

  • Craig Campbell

    CFO

    Total calculated
    $0
    Hours/week
    0.5 + 38 related

  • Jamal Robinson

    EXECUTIVE DIRECTOR

    Total calculated
    $63,900
    From this org
    $0
    From related orgs
    $63,900
    Other
    $0
    Hours/week
    0.5 + 38 related

  • Sammy Ahmed

    CFO (OUTGOING)

    Total calculated
    $14,641
    From this org
    $0
    From related orgs
    $14,641
    Other
    $0
    Hours/week
    0.5 + 38 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • PACC HDFC

    C · APARTMENT OWNER · NY

Provenance

Return type
form_990
Tax year
2024
Filed
11 May 2026
IRS schema version
2024v5.5
Source object
202601329349306275

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