Goodwill Industries of Northern New England

Analysis

Goodwill Industries of Northern New England is a registered charity in United States, based in Gorham, ME. It received its IRS tax-exemption ruling in August 1969, 57 years ago. Its declared purposes cover employment, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Goodwill Industries of Northern New England reported income of $88.4m and spending of $88.8m, spending 100% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $67.0m to $88.4m (+32%), an average of +7.2% a year. The sharpest change came in the year to June 2021, when income rose by 26%. Over the whole period it spent 97% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Goodwill Industries of Northern New England sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within ME. Charities of a similar size with the same main cause include Third Sector New England Inc ($88.4m), Goodwill Industries of NW North Carolina Inc ($90.0m) and Goodwill Industries of the Southern Piedmont Inc ($88.4m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 13% and program service revenue 22% of the total. Compensation of current officers, directors and key employees was $670k (0.8% of expenses). Other salaries and wages came to $47.5m. At year end it held assets of $85.9m against liabilities of $42.4m, net assets of $43.5m. It reported 2,518 employees.