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Gateway CDC reports deficit this year but highlights farmers market and regional partnerships
Summary
Gateway CDC reported revenue of about $442,538 and expenses of $605,299 for the fiscal year-to-date, leaving a net operating deficit while retaining about $2.14 million in assets; the organization is pursuing space repurposing and events including a weekly farmers market and a May 9 studios tour to generate revenue.
Council member Dane delivered a Gateway CDC update on April 20, reporting the organization has generated roughly $442,538 in revenue and incurred $605,299 in expenses year‑to‑date, producing a current operating deficit.
Dane said Gateway still holds approximately $2.14 million in assets with about $1.6 million in liabilities, and that the organization is exploring ways to generate revenue — including repurposing unused space, recruiting small businesses as tenants and leveraging events. Gateway’s recent and upcoming programs include a farmers market at the Brentwood Firehouse that runs Saturdays 9 a.m.–1 p.m. through November, and an Opening Studios Tour scheduled for May 9. Dane also noted Gateway’s partnership with a regional events platform, What A Weekend, to promote local businesses and activities in the DMV.
Council and residents thanked Gateway for the report and encouraged community participation in the events. Dane cautioned that rising operational costs and reduced funding streams are creating pressure on the organization’s budget and urged creative revenue generation to sustain operations.
