Goodwill Industries of Akron Inc

Analysis

Goodwill Industries of Akron Inc is a registered charity in United States, based in Akron, OH. It received its IRS tax-exemption ruling in February 1938, 88 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 Akron Inc reported income of $27.4m and spending of $27.0m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $18.9m to $27.4m (+45%), an average of +9.8% a year. The sharpest change came in the year to December 2020, when income rose by 29%. Over the whole period it spent 94% 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 Akron Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within OH. Charities of a similar size with the same main cause include Vanderheyden Hall Inc ($27.4m), 1st Choice Healthcare Inc ($27.5m) and The American Ireland Fund ($27.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 22% and program service revenue 76% of the total. Compensation of current officers, directors and key employees was $649k (2.4% of expenses). Other salaries and wages came to $10.2m. At year end it held assets of $26.0m against liabilities of $5.9m, net assets of $20.1m. It reported 856 employees.