Memphis Goodwill Inc

Analysis

Memphis Goodwill Inc is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in February 2009, 17 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Memphis Goodwill Inc reported income of $47.6m and spending of $48.7m, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $46.1m to $47.6m (+3.4%), an average of +0.8% a year. The sharpest change came in the year to December 2021, when income rose by 16%. Over the whole period it spent 100% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Memphis Goodwill 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 99th percentile, and in the 99th percentile within TN. Charities of a similar size with the same main cause include Global Alliance for Improved Nutrition ($47.6m), The Mennonite Home ($47.6m) and Franziska Racker Centers Inc ($47.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 36% and program service revenue 64% of the total. Compensation of current officers, directors and key employees was $392k (0.8% of expenses). Other salaries and wages came to $13.1m. At year end it held assets of $54.2m against liabilities of $47.4m, net assets of $6.8m. It reported 1,235 employees.