Goodwill Industries of Southeastern Michigan Inc

Analysis

Goodwill Industries of Southeastern Michigan Inc is a registered charity in United States, based in Adrian, MI. It received its IRS tax-exemption ruling in November 1960, 66 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 Southeastern Michigan Inc reported income of $10.7m and spending of $9.9m, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $7.2m to $10.7m (+49%), an average of +10% a year. The sharpest change came in the year to December 2021, when income rose by 101%. Over the whole period it spent 90% 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 Southeastern Michigan Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within MI. Charities of a similar size with the same main cause include Hobart Institute of Welding Technology ($10.7m), Amvets Department of California Service Foundation ($10.7m) and Restoration Society Inc ($10.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 19% and program service revenue 22% of the total. Compensation of current officers, directors and key employees was $163k (1.6% of expenses). Other salaries and wages came to $5.5m. At year end it held assets of $15.8m against liabilities of $10.5m, net assets of $5.3m. It reported 510 employees.