Goodwill Industries of Ashtabula Inc

Analysis

Goodwill Industries of Ashtabula Inc is a registered charity in United States, based in Ashtabula, OH. It received its IRS tax-exemption ruling in July 1943, 83 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 Ashtabula Inc reported income of $6.4m and spending of $6.2m, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.7m to $6.4m (+36%), an average of +8.0% a year. The sharpest change came in the year to December 2021, when income rose by 57%. Over the whole period it spent 98% 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 Ashtabula 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 Lifes Work of Western Pa ($6.4m), Interdenominational Theological Center Inc ($6.4m) and Jewish Home and Aging Services ($6.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 30% and program service revenue 23% of the total. Compensation of current officers, directors and key employees was $152k (2.5% of expenses). Other salaries and wages came to $3.3m. At year end it held assets of $5.2m against liabilities of $2.1m, net assets of $3.1m. It reported 244 employees.