Civic Intelligence

Atlantic Gateway Communications Inc.

990 • Fiscal year 2020 • EIN 82-5013506

Jan 01, 2020 to Dec 31, 2020 • Filed on Jul 01, 2021

2099 Gaither Road Suite 105Rockville, MD 20850

(202) 902-6000

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

79th percentile

0.63x

Higher debt load relative to assets than 79% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

83rd percentile

1.31x

Higher debt load relative to revenue than 83% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Net Margin

81st percentile

27%

Higher net margin than 81% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

60th percentile

$204,604

Higher top officer pay than 60% of similar nonprofits.

Top officer pay equals 2.7% of source-year revenue.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Asset Growth

70th percentile

16%

Faster asset growth than 70% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

73rd percentile

16%

Faster revenue growth than 73% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Assets

Up

$16,044,864

Up $2,263,418 (+16%) from 2019

Net Assets

Up

$5,927,228

Up $2,067,040 (+54%) from 2019

Liabilities

Up

$10,117,636

Up $196,378 (+2.0%) from 2019

Revenue

Up

$7,708,177

Up $1,045,525 (+16%) from 2019

Expenses

Up

$5,641,137

Up $716,019 (+15%) from 2019

Net Income

Up

$2,067,040

Up $329,506 (+19%) from 2019

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0Assets 2018: $12,171,088Liabilities 2018: $10,048,434Net Assets 2018: $2,122,6542018Assets 2019: $13,781,446Liabilities 2019: $9,921,258Net Assets 2019: $3,860,1882019Assets 2020: $16,044,864Liabilities 2020: $10,117,636Net Assets 2020: $5,927,2282020Assets 2021: $17,231,384Liabilities 2021: $9,559,116Net Assets 2021: $7,672,2682021Assets 2022: $21,140,895Liabilities 2022: $12,941,379Net Assets 2022: $8,199,5162022Assets 2023: $23,522,639Liabilities 2023: $15,591,714Net Assets 2023: $7,930,9252023Assets 2024: $22,823,087Liabilities 2024: $14,884,404Net Assets 2024: $7,938,6832024

Highlighted filing

2020

Assets$16,044,864
Liabilities$10,117,636
Net Assets$5,927,228

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$10M$5.0M$0-$5.0MRevenue 2018: $3,505,380Expenses 2018: $1,382,726Net Income 2018: $2,122,6542018Revenue 2019: $6,662,652Expenses 2019: $4,925,118Net Income 2019: $1,737,5342019Revenue 2020: $7,708,177Expenses 2020: $5,641,137Net Income 2020: $2,067,0402020Revenue 2021: $8,767,157Expenses 2021: $7,022,117Net Income 2021: $1,745,0402021Revenue 2022: $7,965,796Expenses 2022: $7,438,548Net Income 2022: $527,2482022Revenue 2023: $8,440,902Expenses 2023: $8,709,493Net Income 2023: -$268,5912023Revenue 2024: $8,405,453Expenses 2024: $8,397,695Net Income 2024: $7,7582024

Highlighted filing

2020

Revenue$7,708,177
Expenses$5,641,137
Net Income$2,067,040
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Jul 1, 2021
Return Version
2020v4.0
Gross Receipts
$7,708,177
Mission and Program Overview

Mission

"to encourage everyone we encounter to take one step closer to christ." 500,000 listeners depend on the 'always encouraging' christian programming on listener-funded wgts 91.9/wash dc and 88.3/eastern shore.

CHRISTIAN RADIO

Balance Sheet Detail
LineBeginningEndChange
Assets
Intangible Assets$5,547,662$5,547,662→ $0
Savings and Temporary Cash Investments$3,815,423$5,496,242▲ $1,680,819
Land, Buildings, and Equipment, Net$2,550,169$2,407,985▼ $142,184
Cash and Non-Interest-Bearing Accounts$1,614,698$2,316,061▲ $701,363
Prepaid Expenses and Deferred Charges$110,859$131,769▲ $20,910
Accounts Receivable$5,000$50,918▲ $45,918
Pledges and Grants Receivable$21,005$14,509▼ $6,496
Investments in Publicly Traded Securities$1,607$1,202▼ $405
Total Assets$13,781,446$16,044,864▲ $2,263,418
Other Assets Total$115,023$78,516▼ $36,507
Liabilities
Mortgage Notes Payable Secured by Investment Property$9,780,435$10,035,644▲ $255,209
Accounts Payable and Accrued Expenses$140,823$81,992▼ $58,831
Total Liabilities$9,921,258$10,117,636▲ $196,378
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,860,188$5,927,228▲ $2,067,040
Total Net Assets Fund Balance$3,860,188$5,927,228▲ $2,067,040
Total Liabilities and Net Assets / Fund Balance$13,781,446$16,044,864▲ $2,263,418

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,163,008$338,610$1,501,618
Leasehold Improvements$1,204,379$135,041$1,339,420
Other Land Buildings$40,598$52,061$92,659
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kevin KruegerPres. & GeneFT$168,228$36,376$204,604
Kevin KruegerPres. & General Mngr-$168,228$36,376$204,604
Jerry WoodsEmployeeFT$109,593$21,791$131,384
Blanca VegaEmployeeFT$100,926$25,804$126,730
Brennan WimbishEmployeeFT$103,112$20,044$123,156
John LundquistEmployeeFT$102,519$17,642$120,161
Stacey LundquistEmployeeFT$105,495$8,686$114,181

Board Members and Trustees

NameTitle
Rob VandemanChairman
Bill MillerBoard Member
Celeste Ryan BlydenBoard Member
Charles TappBoard Member
Dan LoukotaBoard Member
Greg ScottBoard Member
Hanna BlakeBoard Member
Kermit NetteburgBoard Member
Lerone CarsonBoard Member
Terry JohnsonBoard Member
Donald MartinCorporate Se
Duane DorchTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$7,382,545
Program Service Revenue
$258,540
Investment Income
$62,308
Other Revenue
$4,784
All Other Contributions
$7,382,545
Change in Net Assets
$2,067,040

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,708,177
Total Revenue per Audited Statements
$7,708,177
Total Revenue per Form 990
$7,708,177
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,045,184
Salaries, Compensation, and Employee Benefits$2,370,592
Total Fundraising Expense$484,144
Professional Fundraising Fees$225,361
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,339,786$183,858$119,252$1,642,896
Other Employee Benefits$419,114$93,142$40,520$552,776
Interest$461,046--$461,046
Occupancy$328,982$88,693$21,850$439,525
Depreciation Depletion$269,091$29,471$8,494$307,056
Information Technology$276,051$6,120$2,662$284,833
Advertising$264,493--$264,493
All Other Expenses$219,480$1,200$16,164$236,844
Fees for Services Professional Fundraising--$225,361$225,361
Fees for Services Other$172,563$22,415$9,751$204,729
Current Officers, Directors, Trustees, and Key Employees$38,482$122,444$13,994$174,920
Insurance$54,196$14,844$4,837$73,877
Other Expenses$72,556$9,538$4,449$72,556
Fees for Services Accounting-$65,162-$65,162
Office Expenses$48,391-$5,448$53,839
Fees for Services Legal-$37,416-$37,416
Travel$20,239-$7,396$27,635
Conferences and Meetings$10,078$184$3,099$13,361
Total Functional Expenses$4,482,506$674,487$484,144$5,641,137

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,641,137
Total Expenses per Audited Statements$5,641,137
Total Expenses per Form 990$5,641,137
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$225,361
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

There shall be one class of members of the corporation. The members shall be those persons who are elected, appointed or otherwise designated as provided by the bylaws.

Form 990, Page 6, Part VI, Line 7A

Elected member is nominated by a majority vote of the nominating committee. Each member is entitled to one vote on each matter submitted to a vote of the members.

Form 990, Page 6, Part VI, Line 7B

Each member shall be entitled to one vote on each matter submitted to a vote of the members. The act of a majority of the members present at a meeting at which quorum is present shall be the act of the members, unless the act of a greater number is required by the law, by the articles of incorporation or by the bylaws. Each member shall cast his own vote and no vote cast by the proxy shall be recognized.

Form 990, Page 6, Part VI, Line 11B

When form 990 is completed, it is presented and reviewed with organization's board.

Form 990, Page 6, Part VI, Line 12C

Each director, principal officer and member of a committee with governing board delegated powers is required to annually sign a statement which affirms that he/she received a copy of the conflicts of interest policy, has read and understand the policy, has agreed to comply with the policy, and understands that the organization is charitable and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purpose.

Form 990, Page 6, Part VI, Line 15A

The board conducts annual review of station manager to determine compensation and goals for the next year.

Form 990, Page 6, Part VI, Line 19

Copies of the form 990 public inspection copy are available upon request and are included on guidestar's website as well. All other public inspection copies of governing documents are availble upon request.

Filing and Contact Details

Filer

Filer Name
Atlantic Gateway Communications Inc
EIN
82-5013506
Phone
2029026000
Address
2099 GAITHER ROAD SUITE 105, ROCKVILLE, MD 20850

Signing Officer

Name
Kevin Krueger
Title
Pres. & General Mngr
Phone
3018914200
Signed
2021-07-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kevin Krueger
Formed
2018
Legal Domicile
Md
Voting Board Members
13
Independent Board Members
12
Employees
40
Volunteers
125

Preparer

Firm
Cline Brandt Kochenower & Co Pa
Address
1225 W FLOYD BAKER BLVD, GAFFNEY, SC 29341
Preparer
Timothy S Blake Cpapfs
Phone
8644897121
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

To own, develop, and operate facilities for noncommercial educational broadcasting and other types of media. The corporation also conducts activities which support and enhance its primary purpose which is to provide educational and christian based content to the greater washington, dc. Metro region and beyond. This happens through broadcasting, an online presence (such as a comprehensive website, social media, marketing and an app). Education also takes place, through one-to-one interaction methods at local on-location special events, concerts, special appearances and onsite broadcasts. Content on all platforms is geared toward improving relationships, health, personal finance and spiritual well-being. We believe we are here to encourage everyone we encounter to take one step closer to christ. In the course of accomplishing our mission we work in cooperation with other private and public institutions, agencies and entities.

Form 990, Page 1, Part I, Line 6

The radio station receives a significant amount of donated services from unpaid volunteers who assists in fund-raising and special projects. No amounts have been recognized in the statement of activities because the criteria for recognition under asc 958-605-25 have not been satisfied.

Financial Statement Notes

Schedule D, Page 3, Part X

The organization adopted the accounting guidance concerning accounting for uncertain tax positions. The organization has no uncertain tax positions for which reserves would be required.

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IRS990/Desc0PROVIDING ENCOURAGING AND CHRISTIAN BASED CONTENT TO THE PEOPLE OF THE WASHINGTON, DC. METRO REGION THROUGH BROADCASTING ON WGTS 91.9, THROUGH AN ONLINE PRESENCE INCLUDING A COMPREHENSIVE WEBSITE AND SOCIAL MEDIA, AND THROUGH PERSONAL ONE-TO-ONE INTERACTION VIA LOCAL ON-LOCATION SPECIAL EVENTS, CONCERTS, APPEARANCES AND BROADCASTS. CONTENT ON ALL PLATFORMS IS GEARED TOWARD RELATIONSHIPS, HEALTH, PERSONAL FINANCE AND SPIRITUAL WELL- BEING.
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IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12CORPORATE SE
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IRS990/Form990PartVIISectionAGrp/TitleTxt14BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt15BOARD MEMBER
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