Goodwill Industries of Southern New England Inc

Analysis

Goodwill Industries of Southern New England Inc is a registered charity in United States, based in North Haven, CT. It received its IRS tax-exemption ruling in January 1957, 69 years ago. 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 Industries of Southern New England Inc reported income of $40.8m and spending of $36.3m, spending 89% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $27.6m to $40.8m (+48%), an average of +10% a year. The sharpest change came in the year to December 2021, when income rose by 58%. Over the whole period it spent 90% 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 Southern New England Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within CT. Charities of a similar size with the same main cause include CPC Integrated Health Inc ($40.7m), Cesar Chavez Foundation ($40.8m) and Medical Center Company ($40.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.1% and program service revenue 98% of the total. Other salaries and wages came to $20.9m. At year end it held assets of $52.1m against liabilities of $19.4m, net assets of $32.7m. It reported 1,226 employees.