Goodwill Industries of Greater New York and Northern New Jersey Inc

Analysis

Goodwill Industries of Greater New York and Northern New Jersey Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in July 1942, 84 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 2023, Goodwill Industries of Greater New York and Northern New Jersey Inc reported income of $106.3m and spending of $104.2m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $120.4m to $106.3m (-12%), an average of -3.1% a year. The sharpest change came in the year to June 2021, when income dropped by 18%. Over the whole period it spent 96% 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 Greater New York and Northern New Jersey Inc 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 NY. Charities of a similar size with the same main cause include Goodwill Industries of Sacramento Valley & Northern Nevada Inc ($104.3m), Jobs for the Future Inc ($107.1m) and Iff ($102.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 52% and program service revenue 39% of the total. Compensation of current officers, directors and key employees was $1.1m (1.0% of expenses). Other salaries and wages came to $52.2m. It paid $497k in professional fundraising fees. At year end it held assets of $125.3m against liabilities of $80.8m, net assets of $44.5m. It reported 2,303 employees.