Civic Intelligence

Atlantic Gateway Communications Inc.

990 • Fiscal year 2021 • EIN 82-5013506

Jan 01, 2021 to Dec 31, 2021 • Filed on Jul 14, 2022

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

0.55x

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

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

82nd percentile

1.09x

Higher debt load relative to revenue than 82% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Net Margin

64th percentile

20%

Higher net margin than 64% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

72nd percentile

$249,311

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 2.8% of source-year revenue.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

43rd percentile

7.4%

Faster asset growth than 43% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

52nd percentile

14%

Faster revenue growth than 52% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Assets

Up

$17,231,384

Up $1,186,520 (+7.4%) from 2020

Net Assets

Up

$7,672,268

Up $1,745,040 (+29%) from 2020

Liabilities

Down

$9,559,116

Down $558,520 (-5.5%) from 2020

Revenue

Up

$8,767,157

Up $1,058,980 (+14%) from 2020

Expenses

Up

$7,022,117

Up $1,380,980 (+24%) from 2020

Net Income

Down

$1,745,040

Down $322,000 (-16%) from 2020

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

2021

Assets$17,231,384
Liabilities$9,559,116
Net Assets$7,672,268

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

2021

Revenue$8,767,157
Expenses$7,022,117
Net Income$1,745,040
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Jul 14, 2022
Return Version
2021v4.0
Gross Receipts
$8,787,010
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.

"to encourage everyone we encounter to take one step closer to christ." 400,000 listeners depend on the christian programming on listener-funded wgts 91.9/wash dc and 88.3/eastern shore to be always encouraging.

Balance Sheet Detail
LineBeginningEndChange
Assets
Intangible Assets$5,547,662$5,938,928▲ $391,266
Savings and Temporary Cash Investments$5,496,242$5,550,998▲ $54,756
Cash and Non-Interest-Bearing Accounts$2,316,061$3,101,858▲ $785,797
Land, Buildings, and Equipment, Net$2,407,985$2,405,842▼ $2,143
Prepaid Expenses and Deferred Charges$131,769$63,406▼ $68,363
Accounts Receivable$50,918$42,930▼ $7,988
Pledges and Grants Receivable$14,509$36,573▲ $22,064
Investments in Publicly Traded Securities$1,202$12,333▲ $11,131
Total Assets$16,044,864$17,231,384▲ $1,186,520
Other Assets Total$78,516$78,516→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$10,035,644$9,445,904▼ $589,740
Accounts Payable and Accrued Expenses$81,992$113,212▲ $31,220
Total Liabilities$10,117,636$9,559,116▼ $558,520
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$5,927,228$7,672,268▲ $1,745,040
Total Net Assets Fund Balance$5,927,228$7,672,268▲ $1,745,040
Total Liabilities and Net Assets / Fund Balance$16,044,864$17,231,384▲ $1,186,520

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,002,672$594,118$1,596,790
Leasehold Improvements$1,315,799$242,621$1,558,420
Other Land Buildings$87,371$58,728$146,099
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kevin KruegerPresident/ceFT$195,332$53,979$249,311
Kevin KruegerPresident/CEO-$195,332$53,979$249,311
Jerry WoodsEmployeeFT$121,626$23,361$144,987
Brennan WimbishEmployeeFT$114,192$22,813$137,005
John LundquistEmployeeFT$112,984$20,389$133,373
Stacey LundquistEmployeeFT$112,984$10,106$123,090
Blanca VegaEmployeeFT$105,459$9,504$114,963
Donald MartinCorporate Se-$17,499-$17,499

Board Members and Trustees

NameTitle
Charles TappChairman
Rob VandemanChairman
Bill MillerBoard Member
Celeste Ryan BlydenBoard Member
Dan LoukotaBoard Member
Greg ScottBoard Member
Hanna BlakeBoard Member
Kermit NetteburgBoard Member
Lerone CarsonBoard Member
Terry JohnsonBoard Member
Duane DorchTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Vidare Creative LLCFundraising5016 SPEDALE CT 195, Spring Hill, TN 37174$138,500
Revenue and Support

Revenue Composition

Contributions and Grants
$8,056,283
Program Service Revenue
$229,664
Investment Income
$57,904
Other Revenue
$423,306
All Other Contributions
$8,056,283
Change in Net Assets
$1,745,040

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,767,157
Total Revenue per Audited Statements
$8,767,157
Total Revenue per Form 990
$8,767,157
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,955,653
Salaries, Compensation, and Employee Benefits$2,829,211
Total Fundraising Expense$635,792
Professional Fundraising Fees$237,253
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,359,993$363,942$191,548$1,915,483
Other Employee Benefits$483,612$164,024$70,760$718,396
Occupancy$444,063$137,515$31,812$613,390
Interest$453,118--$453,118
All Other Expenses$385,599$2,205$27,707$415,511
Depreciation Depletion$340,864$34,157$9,360$384,381
Advertising$283,515--$283,515
Information Technology$241,891$11,946$6,277$260,114
Fees for Services Other$191,311$36,743$18,921$246,975
Fees for Services Professional Fundraising--$237,253$237,253
Current Officers, Directors, Trustees, and Key Employees$42,973$136,733$15,626$195,332
Other Expenses$164,198-$17,151$181,349
Travel$104,245-$2,200$106,445
Insurance$58,958$18,039$7,114$84,111
Fees for Services Accounting-$66,475-$66,475
Office Expenses$58,542--$58,542
Fees for Services Legal-$43,348-$43,348
Conferences and Meetings$19,017$733-$19,750
Total Functional Expenses$5,370,465$1,015,860$635,792$7,022,117

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$7,022,117
Total Expenses per Audited Statements$7,022,117
Total Expenses per Form 990$7,022,117
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$237,253
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Donald MartinBoard MemberLegal ServicesNo$17,449
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
Yes
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 has received a copy of the conflict of interest policy, has read and understands 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 purposes.

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

The board conducts an annual review of the station manager to evaluate and 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
President/CEO
Phone
3018914200
Signed
2022-07-14
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
50
Volunteers
17

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, Page 1, Part I, Line 6

The radio station receives a significant amount of donated services from unpaid volunteers who assist 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.

Form 990, Page 2, Part III, Line 4A

"to encourage everyone we encounter to take one step closer to christ." over 400,000 listeners depend on the powerful fm radio signals of wgts 91.9 across the entire washington dc metro region from frederick, maryland (north) to fredericksburg, virginia (south) and on wgts 88.3 along the eastern shore. As the primary media ministries of atlantic gateway communications, inc. A non-profit 501(c)3 organization, the award-winning radio stations are funded by tax-deductible donations mainly from individuals. This allows the ministry to be a constant destination of hope and encouragement on-air, online, and on the ground. All of wgts and atlantic gateway communications, inc. Program service accomplishments can be described as encouraging and christian-based music and conversations; culturally-relevant content touching every area of life including physical and mental health, relationships, finances, spiritual well-being and created or delivered by local staff. By bringing people together and building community, wgts creates life-impacting connection serving as an encouraging voice for the lonely and disconnected in our society, and by mobilizing local communities to help those in need in tangible ways. A new and powerful 50,000 watt fm radio signal was launched june 2021 when wgts expanded its media ministry impact over the eastern shore. Wgts's christian music and conversations can now be heard on fm frequency 88.3 (wgbz). 20 years in the making, wgts's christian and educational impact now covers the maryland and delaware beach communities with daily messages and god's love and hope. Program services are delivered through various platforms and other types of media which support and enhance its primary purpose. Included are non- commercial and educational broadcasting on-air, various online platforms such as a comprehensive digital website, smartphone apps, interactive and engaging social media, plus one-to-one personal connections on the ground through locally-produced and hosted community concerts and special events. Wgts was twice awarded the radio and media's industry's top honors by the national association of broadcasters (nab), receiving the marconi award for 2021 "religious station of the year,- and a 2nd marconi award for "radio podcast of the year" for the podcast "we need to talk," hosted by claude jennings and jerry woods. The podcast addressed issues of race in america and emphasized bringing people from different backgrounds together. Wgts was also named "best christian workplace" for the 2nd consecutive year by the best christian workplaces institute (bwci).

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/Desc0"TO ENCOURAGE EVERYONE WE ENCOUNTER TO TAKE ONE STEP CLOSER TO CHRIST." OVER 400,000 LISTENERS DEPEND ON THE POWERFUL FM RADIO SIGNALS OF WGTS 91.9 ACROSS THE ENTIRE WASHINGTON DC METRO REGION FROM FREDERICK, MARYLAND (NORTH) TO FREDERICKSBURG, VIRGINIA (SOUTH) AND ON WGTS 88.3 ALONG THE EASTERN SHORE. AS THE PRIMARY MEDIA MINISTRIES OF ATLANTIC GATEWAY COMMUNICATIONS, INC. A NON-PROFIT 501(C)3 ORGANIZATION, THE AWARD-WINNING RADIO STATIONS ARE FUNDED BY TAX-DEDUCTIBLE DONATIONS MAINLY FROM INDIVIDUALS. THIS ALLOWS THE MINISTRY TO BE A CONSTANT DESTINATION OF HOPE AND ENCOURAGEMENT ON-AIR, ONLINE, AND ON THE GROUND. ALL OF WGTS AND ATLANTIC GATEWAY COMMUNICATIONS, INC. PROGRAM SERVICE ACCOMPLISHMENTS CAN BE DESCRIBED AS ENCOURAGING AND CHRISTIAN-BASED MUSIC AND CONVERSATIONS; CULTURALLY-RELEVANT CONTENT TOUCHING EVERY AREA OF LIFE INCLUDING PHYSICAL AND MENTAL HEALTH, RELATIONSHIPS, FINANCES, SPIRITUAL WELL-BEING AND CREATED OR DELIVERED BY LOCAL STAFF. BY BRINGING PEOPLE TOGETHER AND BUILDING COMMUNITY, WGTS CREATES LIFE-IMPACTING CONNECTION SERVING AS AN ENCOURAGING VOICE FOR THE LONELY AND DISCONNECTED IN OUR SOCIETY, AND BY MOBILIZING LOCAL COMMUNITIES TO HELP THOSE IN NEED IN TANGIBLE WAYS. A NEW AND POWERFUL 50,000 WATT FM RADIO SIGNAL WAS LAUNCHED JUNE 2021 WHEN WGTS EXPANDED ITS MEDIA MINISTRY IMPACT OVER THE EASTERN SHORE. WGTS'S CHRISTIAN MUSIC AND CONVERSATIONS CAN NOW BE HEARD ON FM FREQUENCY 88.3 (WGBZ). 20 YEARS IN THE MAKING, WGTS'S CHRISTIAN AND EDUCATIONAL IMPACT NOW COVERS THE MARYLAND AND DELAWARE BEACH COMMUNITIES WITH DAILY MESSAGES AND GOD'S LOVE AND HOPE. PROGRAM SERVICES ARE DELIVERED THROUGH VARIOUS PLATFORMS AND OTHER TYPES OF MEDIA WHICH SUPPORT AND ENHANCE ITS PRIMARY PURPOSE. INCLUDED ARE NON- COMMERCIAL AND EDUCATIONAL BROADCASTING ON-AIR, VARIOUS ONLINE PLATFORMS SUCH AS A COMPREHENSIVE DIGITAL WEBSITE, SMARTPHONE APPS, INTERACTIVE AND ENGAGING SOCIAL MEDIA, PLUS ONE-TO-ONE PERSONAL CONNECTIONS ON THE GROUND THROUGH LOCALLY-PRODUCED AND HOSTED COMMUNITY CONCERTS AND SPECIAL EVENTS. WGTS WAS TWICE AWARDED THE RADIO AND MEDIA'S INDUSTRY'S TOP HONORS BY THE NATIONAL ASSOCIATION OF BROADCASTERS (NAB), RECEIVING THE MARCONI AWARD FOR 2021 "RELIGIOUS STATION OF THE YEAR,- AND A 2ND MARCONI AWARD FOR "RADIO PODCAST OF THE YEAR" FOR THE PODCAST "WE NEED TO TALK," HOSTED BY CLAUDE JENNINGS AND JERRY WOODS. THE PODCAST ADDRESSED ISSUES OF RACE IN AMERICA AND EMPHASIZED BRINGING PEOPLE FROM DIFFERENT BACKGROUNDS TOGETHER. WGTS WAS ALSO NAMED "BEST CHRISTIAN WORKPLACE" FOR THE 2ND CONSECUTIVE YEAR BY THE BEST CHRISTIAN WORKPLACES INSTITUTE (BWCI).
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