GOLD2024

Gateway Community College Foundation

Gateway Your Way. Your College. Your Future.

New Haven, CT   |  www.gatewayfdn.org
GuideStar Charity Check

Gateway Community College Foundation

EIN: 22-3135128


Mission

The Gateway Community College Foundation assists the College in expanding its services to students, enhancing academic instruction and investing in Connecticut’s future. It advocates for the College and creates nurturing partnerships with businesses, organizations and institutions throughout the community. It also provides necessary resources that enable the College to carry out its mission of providing high-quality instruction and comprehensive services in an environment conducive to learning. The Foundation funds scholarships for students, professional development grants for faculty and staff and programmatic equipment for the College.

Ruling year info

1993

Principal Officer

N/A N/A

Main address

20 Church Street

New Haven, CT 06510 USA

Show more contact info

EIN

22-3135128

Subject area info

Education

Community college education

Population served info

Adults

Economically disadvantaged people

NTEE code info

Single Organization Support (B11)

What we aim to solve

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Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Scholarships

Gateway Community College Foundation raises funds to award academic, technology, and workforce scholarships to eligible GCC students.

Population(s) Served
Adults
Economically disadvantaged people

The Gateway Community College Foundation Emergency Assistance grants program assists students in academic degree and workforce certification programs who experience unexpected short-term financial hardship or crisis and who need assistance to help them achieve program completion. The program provides holistic wraparound support services to students including working with the student to develop a household budget. Eligible students may qualify for emergency assistance to cover expenses such as food, rent, utilities, childcare, car repair, etc. Payments go directly to vendors rather than students.

Population(s) Served
Adults
Economically disadvantaged people

Gateway Community College Foundation offers a mini-grant program to which Gateway faculty and staff can apply. If selected, the Foundation underwrites professional development initiatives. These grants enhance the grantees' professional development and help them to apply what they have learned to their daily work with other faculty, staff and students.

Population(s) Served
Adults

Gateway Community College Foundation sponsors special events to engage alumni, donors and community members in the life of the campus. Special events include a donor scholar brunch, a Hall of Fame dinner and celebration, and Alumni Network get-togethers.

Population(s) Served
Adults

The Gateway Foundation raises funds to purchase laptops that are awarded to students through a competitive application. In addition, the Foundation purchases and donates laptops to the Gateway library for students to borrow for academic use.

Population(s) Served

More than 30,000 students attended classes and graduated from Gateway since its inception more than 30 years ago. In 2023, the Gateway Foundation launched an Alumni Network to engage alumni to act as advocates for Gateway, mentors and coaches for current students, and a resource and support system for one another.

Population(s) Served
Economically disadvantaged people
Adults
Economically disadvantaged people
Adults

Where we work

How we listen

SOURCE: Self-reported by organization

Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.

done We shared information about our current feedback practices.
  • How is your organization using feedback from the people you serve?

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Financials

Gateway Community College Foundation
Fiscal year: Jan 01 - Dec 31

Revenue vs. expenses:  breakdown

SOURCE: IRS Form 990 info
NET GAIN/LOSS:    in 
Note: When component data are not available, the graph displays the total Revenue and/or Expense values.

Liquidity in 2022 info

SOURCE: IRS Form 990

797.58

Average of 1943.10 over 10 years

Months of cash in 2022 info

SOURCE: IRS Form 990

44.7

Average of 21.9 over 10 years

Fringe rate in 2022 info

SOURCE: IRS Form 990

0%

Average of 0% over 10 years

Funding sources info

Source: IRS Form 990

Assets & liabilities info

Source: IRS Form 990

Financial data

SOURCE: IRS Form 990

Gateway Community College Foundation

Revenue & expenses

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

Fiscal year ending: cloud_download Download Data

Gateway Community College Foundation

Balance sheet

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.

Fiscal year ending: cloud_download Download Data

Gateway Community College Foundation

Financial trends analysis Glossary & formula definitions

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

This snapshot of Gateway Community College Foundation’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.

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Business model indicators

Profitability info 2018 2019 2020 2021 2022
Unrestricted surplus (deficit) before depreciation -$7,826 $73,626 $36,038 $52,035 $15,097
As % of expenses -2.1% 13.6% 5.4% 12.7% 4.4%
Unrestricted surplus (deficit) after depreciation -$7,826 $73,626 $36,038 $52,035 $15,097
As % of expenses -2.1% 13.6% 5.4% 12.7% 4.4%
Revenue composition info
Total revenue (unrestricted & restricted) $468,505 $685,862 $612,929 $799,228 $719,045
Total revenue, % change over prior year 24.1% 46.4% -10.6% 30.4% -10.0%
Program services revenue 0.0% 0.0% 0.0% 0.0% 0.0%
Membership dues 0.0% 0.0% 0.0% 0.0% 0.0%
Investment income 1.3% 0.7% 0.4% 0.5% 0.6%
Government grants 0.0% 0.0% 0.0% 0.0% 0.0%
All other grants and contributions 84.2% 95.6% 91.1% 93.3% 89.9%
Other revenue 14.5% 3.8% 8.5% 6.2% 9.5%
Expense composition info
Total expenses before depreciation $373,411 $540,615 $664,716 $411,218 $342,183
Total expenses, % change over prior year -7.4% 44.8% 23.0% -38.1% -16.8%
Personnel 0.0% 0.0% 0.0% 0.0% 0.0%
Professional fees 3.0% 3.0% 2.6% 4.4% 4.3%
Occupancy 0.0% 0.0% 0.0% 0.0% 0.0%
Interest 0.0% 0.0% 0.0% 0.0% 0.0%
Pass-through 40.3% 47.5% 64.8% 72.6% 50.2%
All other expenses 56.8% 49.5% 32.5% 23.0% 45.6%
Full cost components (estimated) info 2018 2019 2020 2021 2022
Total expenses (after depreciation) $373,411 $540,615 $664,716 $411,218 $342,183
One month of savings $31,118 $45,051 $55,393 $34,268 $28,515
Debt principal payment $0 $0 $0 $0 $0
Fixed asset additions $0 $0 $0 $0 $0
Total full costs (estimated) $404,529 $585,666 $720,109 $445,486 $370,698

Capital structure indicators

Liquidity info 2018 2019 2020 2021 2022
Months of cash 25.4 22.2 18.2 40.3 44.7
Months of cash and investments 60.7 49.9 43.3 82.2 97.1
Months of estimated liquid unrestricted net assets 4.4 4.7 4.4 8.7 11.0
Balance sheet composition info 2018 2019 2020 2021 2022
Cash $790,571 $999,000 $1,005,725 $1,381,716 $1,273,689
Investments $1,096,926 $1,249,398 $1,392,122 $1,436,214 $1,495,522
Receivables $145,209 $70,891 $79,743 $59,905 $249,610
Gross land, buildings, equipment (LBE) $0 $0 $0 $0 $0
Accumulated depreciation (as a % of LBE) 0.0% 0.0% 0.0% 0.0% 0.0%
Liabilities (as a % of assets) 1.0% 0.0% 2.1% 0.0% 0.1%
Unrestricted net assets $136,338 $209,964 $246,002 $298,037 $313,134
Temporarily restricted net assets $806,495 N/A N/A N/A N/A
Permanently restricted net assets $1,069,873 N/A N/A N/A N/A
Total restricted net assets $1,876,368 $2,109,325 $2,179,603 $2,579,598 $2,702,215
Total net assets $2,012,706 $2,319,289 $2,425,605 $2,877,635 $3,015,349

Key data checks

Key data checks info 2018 2019 2020 2021 2022
Material data errors No No No No No

Operations

The people, governance practices, and partners that make the organization tick.

Documents
Form 1023/1024 is not available for this organization

Principal Officer

N/A N/A

Number of employees

Source: IRS Form 990

Gateway Community College Foundation

Officers, directors, trustees, and key employees

SOURCE: IRS Form 990

Compensation
Other
Related
Show data for fiscal year
Compensation data
Download up to 5 most recent years of officer and director compensation data for this organization

There are no highest paid employees recorded for this organization.

Gateway Community College Foundation

Board of directors
as of 03/20/2024
SOURCE: Self-reported by organization
Board of directors data
Download the most recent year of board of directors data for this organization
Board chair

Mr. Thomas Beirne III

The Washington Trust Company

Term: 2023 - 2024

Helene A. Augustine

Cornell Scott-Hill Health Center

Thomas Beirne III

The Washington Trust Company

H. Richard Borer Jr.

Easter Seals Goodwill Industries

Hiram Brett

Connecticut Mental Health Center

Althea Brooks

Waterbury Bridge to Success Community Partnership

Daniel Caron

Protos Biologics, Inc.

LindyLee Gold

State of CT, Dept of Econ & Com Dev

Peter D. Graeb

Beers, Hammerman, Cohen & Burger, PC, CPAs

Thomas Griggs Jr.

Roberta Hoskie

Outreach Realty

Ruby H. Melton

Community Leader

Linda Randell

Attorney & Consultant

Pedro Soto

Space-Craft Manufacturing

Susan Stone

Community Leader

LaKisha Jordan

American Eagle Financial Credit Union

Holly G. Wheeler

Law Offices of Holly G. Wheeler

Ena Williams

Yale New Haven Hospital

Dr. Wilson Luna

Retired, Gateway CC

Mimi Lines

Community Leader

Makana Ellis

Carmody Torrance Sandak & Hennessey

Jacob Padron

Long Wharf Theatre

Tanisha Asbery

Boehringer Ingelheim

Joseph Thomas

Consultant -Energy Industry, Utility Operations and Regulatory

Organizational demographics

SOURCE: Self-reported; last updated 3/20/2024

Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.

Leadership

The organization's leader identifies as:

Race & ethnicity
White/Caucasian/European
Gender identity
Male

Race & ethnicity

Gender identity

Transgender Identity

Sexual orientation

No data

Disability

No data

Equity strategies

Last updated: 01/10/2023

GuideStar partnered with Equity in the Center - an organization that works to shift mindsets, practices, and systems to increase racial equity - to create this section. Learn more

Policies and processes
  • We have community representation at the board level, either on the board itself or through a community advisory board.
There are no contractors recorded for this organization.

Professional fundraisers

Fiscal year ending

SOURCE: IRS Form 990 Schedule G

Solicitation activities
Gross receipts from fundraising
Retained by organization
Paid to fundraiser