Goodwill Industries of Tenneva Area Inc

Analysis

Goodwill Industries of Tenneva Area Inc is a registered charity in United States, based in Kingsport, TN. It received its IRS tax-exemption ruling in February 1973, 53 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Goodwill Industries of Tenneva Area Inc reported income of $14.4m and spending of $13.8m, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $8.7m to $14.4m (+67%), an average of +14% a year. The sharpest change came in the year to December 2021, when income rose by 82%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Goodwill Industries of Tenneva Area Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within TN. Charities of a similar size with the same main cause include Girl Scouts of Eastern Missouri Inc ($14.4m), Interchurch Center ($14.4m) and Libertas Network ($14.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 43% and program service revenue 4.8% of the total. Compensation of current officers, directors and key employees was $137k (1.0% of expenses). Other salaries and wages came to $8.1m. At year end it held assets of $18.1m against liabilities of $9.4m, net assets of $8.6m. It reported 496 employees.