Goodwill Industries of Michiana Inc

Analysis

Goodwill Industries of Michiana Inc is a registered charity in United States, based in South Bend, IN. It received its IRS tax-exemption ruling in July 1938, 88 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 Michiana Inc reported income of $52.2m and spending of $52.3m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $37.7m to $52.2m (+38%), an average of +8.5% a year. The sharpest change came in the year to December 2020, when income rose by 26%. Over the whole period it spent 91% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Goodwill Industries of Michiana 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 99th percentile within IN. Charities of a similar size with the same main cause include Occupational Training Center of Burlington County Inc ($52.2m), Goodwill Industries of Lane County ($52.2m) and Housing Works Inc ($51.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 6.7% and program service revenue 90% of the total. Compensation of current officers, directors and key employees was $496k (0.9% of expenses). Other salaries and wages came to $30.1m. At year end it held assets of $70.3m against liabilities of $3.1m, net assets of $67.2m. It reported 1,786 employees.