Goodwill Industries of West Michigan Inc

Analysis

Goodwill Industries of West Michigan Inc is a registered charity in United States, based in Muskegon, MI. It received its IRS tax-exemption ruling in June 1951, 75 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 West Michigan Inc reported income of $33.0m and spending of $28.0m, spending 85% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $23.2m to $33.0m (+42%), an average of +9.3% a year. The sharpest change came in the year to December 2023, when income rose by 28%. Over the whole period it spent 95% 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 West Michigan Inc sits at the 99th 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 MI. Charities of a similar size with the same main cause include Community Health Programs Inc ($33.0m), Appalachian State University Foundation Inc ($33.0m) and Public Library Association of Annapolis and a a Co Inc ($32.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 29% and program service revenue 68% of the total. Compensation of current officers, directors and key employees was $385k (1.4% of expenses). Other salaries and wages came to $11.1m. At year end it held assets of $46.1m against liabilities of $13.1m, net assets of $33.0m. It reported 665 employees.