Goodwill of Western and Northern Connecticut Inc

Analysis

Goodwill of Western and Northern Connecticut Inc is a registered charity in United States, based in Bridgeport, CT. It received its IRS tax-exemption ruling in November 1957, 69 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 December 2023, Goodwill of Western and Northern Connecticut Inc reported income of $53.9m and spending of $53.7m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $48.2m to $53.9m (+12%), an average of +2.8% a year. The sharpest change came in the year to December 2021, when income rose by 37%. Over the whole period it spent 102% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Goodwill of Western and Northern Connecticut 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 99th percentile, and in the 99th percentile within CT. Charities of a similar size with the same main cause include Arrow Child & Family Ministries ($53.8m), Goodwill Retail Services ($53.9m) and Neighborhood Improvement Project Inc ($53.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 16% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $521k (1.0% of expenses). Other salaries and wages came to $25.2m. At year end it held assets of $76.7m against liabilities of $27.9m, net assets of $48.8m. It reported 1,653 employees.