Goodwill Industries of the Heartland

Analysis

Goodwill Industries of the Heartland is a registered charity in United States, based in Cedar Rapids, IA. It received its IRS tax-exemption ruling in June 1966, 60 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 the Heartland reported income of $37.6m and spending of $37.7m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $34.9m to $37.6m (+7.6%), an average of +1.9% a year. Over the whole period it spent 88% 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 the Heartland 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 IA. Charities of a similar size with the same main cause include Norwell Visiting Nurse Assoc Inc ($37.5m), Institute for Building Technology and Safety ($37.6m) and Lafourche Parish Hospital Service District No 1 ($37.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 13% and program service revenue 13% of the total. Compensation of current officers, directors and key employees was $547k (1.5% of expenses). Other salaries and wages came to $20.4m. At year end it held assets of $49.4m against liabilities of $11.3m, net assets of $38.1m. It reported 1,054 employees.