Gateway Regional Chamber Of Commerce Inc
Gateway Regional Chamber Of Commerce Inc faces declining revenue and increasing deficits.
EIN: 220887600 · Springfield, NJ · Updated: 2026-03-28
Is Gateway Regional Chamber Of Commerce Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Gateway Regional Chamber Of Commerce Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Gateway Regional Chamber Of Commerce Inc
Gateway Regional Chamber Of Commerce Inc (EIN: 220887600) is a nonprofit organization based in Springfield, NJ. The organization reported total revenue of $151K and total assets of $158K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Gateway Regional Chamber Of Commerce Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Gateway Regional Chamber Of Commerce Inc with a Mission Score of 60 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Gateway Regional Chamber Of Commerce Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating that no officers received compensation from the organization. This is a positive sign for resource allocation, especially given the organization's declining financial performance.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Gateway Regional Chamber Of Commerce Inc's IRS 990 filings:
- Significant and consistent decline in revenue over the past five years, from $768,686 in 2019 to $284,642 in 2024.
- Recurring net losses in recent fiscal periods, with a $133,333 deficit in 2024 and $56,653 in 2023.
- Decreasing asset base, from $460,609 in 2021 to $209,810 in 2024, indicating a depletion of reserves.
Strengths
The following positive indicators were identified for Gateway Regional Chamber Of Commerce Inc:
- Consistent reporting of 0% officer compensation, indicating no executive pay from the organization.
- Maintained zero liabilities in most recent filings (2024, 2023, 2022, 2020, 2019, 2018, 2017, 2016, 2015), suggesting good debt management.
Frequently Asked Questions about Gateway Regional Chamber Of Commerce Inc
Is Gateway Regional Chamber Of Commerce Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Gateway Regional Chamber Of Commerce Inc (EIN: 220887600) some concerns. Mission Score: 60/100. 3 red flags identified, 2 strengths noted.
How does Gateway Regional Chamber Of Commerce Inc spend its money?
Gateway Regional Chamber Of Commerce Inc directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Gateway Regional Chamber Of Commerce Inc tax-deductible?
Gateway Regional Chamber Of Commerce Inc is registered as a tax-exempt nonprofit (EIN: 220887600). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What is causing the significant decline in revenue since 2019?
The organization's revenue has dropped from $768,686 in 2019 to $284,642 in 2024, a decrease of over 60%. Understanding the underlying reasons for this decline is crucial for assessing future sustainability.
How does the organization plan to address its recurring deficits?
Gateway Regional Chamber Of Commerce Inc has reported deficits in 2024 ($133,333) and 2023 ($56,653). A clear strategy for returning to financial solvency is necessary.
What are the specific program activities and their associated costs?
Without a detailed breakdown of program expenses, it's difficult to fully assess the impact and efficiency of the organization's core activities, especially given the overall financial challenges.
Filing History
IRS 990 filing history for Gateway Regional Chamber Of Commerce Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2013–2024), Gateway Regional Chamber Of Commerce Inc's revenue has declined by 54.2%, moving from $621K to $285K. Total assets decreased by 30.5% over the same period, from $302K to $210K. Total functional expenses fell by 35.9%, from $652K to $418K. In its most recent filing year (2024), Gateway Regional Chamber Of Commerce Inc reported a deficit of $133K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2024 | $285K | $418K | $210K | $0 | — | — |
| 2023 | $410K | $466K | $358K | $0 | — | View 990 |
| 2022 | $660K | $628K | $414K | $0 | — | View 990 |
| 2021 | $547K | $536K | $461K | $78K | — | View 990 |
| 2020 | $549K | $581K | $370K | $0 | — | View 990 |
| 2019 | $769K | $712K | $402K | $0 | — | View 990 |
| 2018 | $749K | $720K | $346K | $0 | — | View 990 |
| 2017 | $588K | $574K | $316K | $0 | — | View 990 |
| 2016 | $593K | $584K | $302K | $0 | — | View 990 |
| 2015 | $609K | $611K | $293K | $0 | — | View 990 |
| 2014 | $679K | $686K | $295K | $0 | — | View 990 |
| 2013 | $621K | $652K | $302K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $285K, expenses of $418K, and assets of $210K (revenue -30.5% year-over-year).
- 2023: Revenue of $410K, expenses of $466K, and assets of $358K (revenue -38.0% year-over-year).
- 2022: Revenue of $660K, expenses of $628K, and assets of $414K (revenue +20.6% year-over-year).
- 2021: Revenue of $547K, expenses of $536K, and assets of $461K (revenue -0.4% year-over-year).
- 2020: Revenue of $549K, expenses of $581K, and assets of $370K (revenue -28.5% year-over-year).
- 2019: Revenue of $769K, expenses of $712K, and assets of $402K (revenue +2.6% year-over-year).
- 2018: Revenue of $749K, expenses of $720K, and assets of $346K (revenue +27.4% year-over-year).
- 2017: Revenue of $588K, expenses of $574K, and assets of $316K (revenue -0.7% year-over-year).
- 2016: Revenue of $593K, expenses of $584K, and assets of $302K (revenue -2.6% year-over-year).
- 2015: Revenue of $609K, expenses of $611K, and assets of $293K (revenue -10.4% year-over-year).
- 2014: Revenue of $679K, expenses of $686K, and assets of $295K (revenue +9.4% year-over-year).
- 2013: Revenue of $621K, expenses of $652K, and assets of $302K.
Data Sources and Methodology
This transparency report for Gateway Regional Chamber Of Commerce Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.