Goodwill of the Finger Lakes Inc

Analysis

Goodwill of the Finger Lakes Inc is a registered charity in United States, based in Rochester, NY. It received its IRS tax-exemption ruling in September 2011, 15 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 March 2023, Goodwill of the Finger Lakes Inc reported income of $53.1m and spending of $51.3m, spending 97% of its income. Across the 4 years on record, from March 2020 to March 2023, income grew from $33.8m to $53.1m (+57%), an average of +16% a year. The sharpest change came in the year to March 2021, when income rose by 24%. Over the whole period it spent 93% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Goodwill of the Finger Lakes 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 98th percentile within NY. Charities of a similar size with the same main cause include Landis Homes Retirement Community ($53.1m), Brethren Village ($53.2m) and Methodist Home for the Aging ($53.0m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 32% and program service revenue 62% of the total. Compensation of current officers, directors and key employees was $632k (1.2% of expenses). Other salaries and wages came to $18.8m. At year end it held assets of $43.5m against liabilities of $21.6m, net assets of $21.9m. It reported 936 employees.