Goodwill Industries Inc

Analysis

Goodwill Industries Inc is a registered charity in United States, based in Saint Paul, MN. It received its IRS tax-exemption ruling in December 1934, 92 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 September 2023, Goodwill Industries Inc reported income of $63.9m and spending of $48.0m, leaving 25% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $44.6m to $63.9m (+43%), an average of +9.4% a year. The sharpest change came in the year to September 2021, when income rose by 154%. Over the whole period it spent 80% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Goodwill Industries 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 MN. Charities of a similar size with the same main cause include Old Colony Elder Services Inc ($63.9m), Blue Ridge Area Food Bank Inc ($64.2m) and Corp Serv Med Prim Y Prev de Hatillo ($63.8m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 59% and program service revenue 3.3% of the total. Compensation of current officers, directors and key employees was $1.8m (3.7% of expenses). Other salaries and wages came to $21.3m. It paid $956 in professional fundraising fees. At year end it held assets of $176.9m against liabilities of $93.4m, net assets of $83.4m. It reported 3,348 employees.