Morgan Memorial Goodwill Industries Inc

Analysis

Morgan Memorial Goodwill Industries Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in March 1928, 98 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, Morgan Memorial Goodwill Industries Inc reported income of $39.1m and spending of $33.5m, spending 86% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $29.2m to $39.1m (+34%), an average of +7.6% a year. The sharpest change came in the year to June 2022, when income rose by 28%. Over the whole period it spent 92% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Morgan Memorial Goodwill Industries Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within MA. Charities of a similar size with the same main cause include Nysarc Inc ($39.0m), United Ways of California ($39.2m) and Goodwill of the Coastal Empire Inc ($38.9m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 27% and program service revenue 25% of the total. Compensation of current officers, directors and key employees was $1.1m (3.2% of expenses). Other salaries and wages came to $15.6m. It paid $55k in professional fundraising fees. At year end it held assets of $72.9m against liabilities of $24.3m, net assets of $48.6m. It reported 689 employees.