Goodwill Manufacturing Inc

Analysis

Goodwill Manufacturing Inc is a registered charity in United States, based in Milwaukee, WI. It received its IRS tax-exemption ruling in October 2015, 11 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 Manufacturing Inc reported income of $4.9m and spending of $10.2m, spending 207% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $7.4m to $4.9m (-34%), an average of -9.9% a year. The sharpest change came in the year to December 2020, when income dropped by 63%. Over the whole period it spent 205% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Goodwill Manufacturing Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within WI. Charities of a similar size with the same main cause include Crossroads Inc of Muscatine ($4.9m), Live Baltimore Home Center Inc ($4.9m) and Nye Communities Coalition ($4.9m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $4.4m. At year end it held assets of $2.8m against liabilities of $36.8m, net assets of -$33.9m. It reported 189 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.