Gateway-halifax Apartments Inc

Nonprofit profile at a glance

EIN
541527813
IRS 990-EZ coverage
2020–2024
Forms available
Form 990-EZ 2024, Form 990-N 2019
Location
Clarksville, VA, USA
Phone
4345726916
Rating
85
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$65,154
Expenses
$83,416
Assets
$85,297
Liabilities
$49,369

Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • GRACE DUNN (PRESIDENT)

People named in this filing

  • GRACE DUNN (PRESIDENT)
  • BUCK BUCHANAN (VICE-PRESIDE)
  • NATASHA HAYES (SECRETARY)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Gateway-halifax apartments inc is a not-for-profit organization exempt from income tax under section 501(c)(3) of the internal revenue code. Gateway- halifax apartments inc was organized to own and operate facilities for intellectually disabled and/or handicapped individuals as a section 811 project under the national affordable housing act.

What it reported doing in 2024

Gateway-halifax apartments inc was organized to own and operate facilities for intellectually disabled and/or handicapped individuals as a section 811 project under the national affordable housing act.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Revenue has declined or grown slowly and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 98
  • Transparency & Controls: 82
  • Sustainability: 30
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 94%; rating input score 94

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -28%; rating input score 19; 19th percentile among comparable filings
  • Total-asset coverage ratio: 1.02; rating input score 47; 47th percentile among comparable filings
  • Liabilities to assets ratio: 0.58; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 1.3% per year; rating input score 100; 52nd percentile among comparable filings
  • Revenue growth: -2.4% per year; rating input score 0; 42nd percentile among comparable filings
  • Asset growth: -10.1% per year; rating input score 0; 17th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 94% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $78K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • 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 — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 19/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 47/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.