Gateway Community Development Corp
Nonprofit profile at a glance
- EIN
- 561597343
- IRS 990 coverage
- 2021–2025
- Forms available
- Form 990 2025, Form 990-EZ 2023, Form 990-N 2020
- Location
- Henderson, NC, USA
- Phone
- 2524926298
- Rating
- 38
- Verdict
- REVIEW
- Rating confidence
- Moderate
- Sector
- Housing Development, Construction, Management
Reported finances
- Revenue
- $313,096
- Expenses
- $281,613
- Assets
- $1,060,148
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
10 people listed
Executive titles in this filing
- HEATHER JOI KENNEY (President)
Highest reported compensation
- HEATHER JOI KENNEY (President): $86,250 total reported compensation
- HEATHER YENCARELLI (COO): $26,700 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Gateway Community Development Corporation is committed to improving the quality of life for the communities we serve by providing essential resources and opportunities that promote growth, development and empowerment.
What it reported doing in 2025
Gateway exempt purpose achievements include providing small business development, community engagement, and sponsorships to organizations in the local community serving our community in impactful ways.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 50% for direct work, and 50% for grants.
The verdict
REVIEW - The filed numbers largely add up and program spending has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 6
- Transparency & Controls: 90
- Accountability: 5
- Sustainability: 58
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 5.9%; rating input score 6
- Program expense ratio: 6.5%; rating input score 7
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 0%; rating input score 0; 8th percentile among comparable filings
- Governance controls: 1 of 9 controls in place; rating input score 11
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Fail
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 10.1%; rating input score 57; 57th percentile among comparable filings
- Total-asset coverage ratio: 3.76; rating input score 74; 74th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 77; 77th percentile among comparable filings
- Officer compensation ratio: 40.1%; rating input score 6; 6th percentile among comparable filings
Growth
- Program expense growth: 28.9% per year; rating input score 100; 89th percentile among comparable filings
- Revenue growth: 32.8% per year; rating input score 100; 93rd percentile among comparable filings
- Asset growth: 32.9% per year; rating input score 100; 91st percentile among comparable filings
Details
- Where the money goes: 5.9% of revenue deployed · 6.5% of spending went to programs
- Governance: 0 of 9 board members independent · 1 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $18K in reported program spending
- Leadership: top reported pay $86K · 10 people listed
- Consistency: 23 of 23 current checks pass
- Schedules: 3 filed schedules
- Filing history: 3 filing years from 2021 to 2025
- Contacts: How to reach this organization
- Money network: 4 filed money-flow records
- Related organizations: Filed and resolved organization relationships.
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Financial Efficiency: Mission deployment rate scored 6/100.
- High — Financial Efficiency: Program expense ratio scored 7/100.
- High — Accountability: Independent voting board scored 0/100.
- High — Accountability: Governance controls: 7 of 8 not reported.
- Review — Sustainability: Operating margin scored 57/100.
- High — Sustainability: Officer compensation ratio scored 6/100.