Goodwill Industries of Lorain County Inc

Analysis

Goodwill Industries of Lorain County Inc is a registered charity in United States, based in Elyria, OH. It received its IRS tax-exemption ruling in August 1942, 84 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 Lorain County Inc reported income of $6.6m and spending of $5.9m, spending 89% of its income. Across the 4 years on record, from December 2019 to December 2023, income grew from $4.5m to $6.6m (+48%), an average of +14% a year. The sharpest change came in the year to December 2022, when income rose by 31%. Over the whole period it spent 89% 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 Lorain County Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within OH. Charities of a similar size with the same main cause include Garden State Episcopal Community Development Corp ($6.6m), Campesinos Unidos ($6.6m) and Transcenter for Youth Inc ($6.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 64% and program service revenue 13% of the total. Other salaries and wages came to $3.2m. At year end it held assets of $8.1m against liabilities of $2.0m, net assets of $6.1m. It reported 328 employees.