Goodwill Industries of Greater Detroit

Analysis

Goodwill Industries of Greater Detroit is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in July 1935, 91 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 (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 Greater Detroit reported income of $29.1m and spending of $30.5m, spending 105% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $21.1m to $29.1m (+38%), an average of +8.4% a year. The sharpest change came in the year to December 2021, when income rose by 45%. Over the whole period it spent 102% 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 Greater Detroit sits at the 99th percentile: it is larger than about 99% 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 Latino Coalition for Community Leadership ($29.1m), J M Murray Center Inc ($29.2m) and Champlain Valley Office of Economic Opportunity Inc ($29.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 71% and program service revenue 33% of the total. Compensation of current officers, directors and key employees was $663k (2.2% of expenses). Other salaries and wages came to $9.1m. At year end it held assets of $47.9m against liabilities of $28.8m, net assets of $19.1m. It reported 763 employees.