Goodsource of Central Florida Inc

Analysis

Goodsource of Central Florida Inc is a registered charity in United States, based in Orlando, FL. It received its IRS tax-exemption ruling in September 2014, 12 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Goodsource of Central Florida Inc reported income of $352k and spending of $639k, spending 182% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income fell from $960k to $352k (-63%), an average of -28% a year. The sharpest change came in the year to December 2021, when income dropped by 64%. Over the whole period it spent 87% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Goodsource of Central Florida Inc sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 67th percentile within FL. Charities of a similar size with the same main cause include Union Mission of Roanoke Rapids Incorporated ($352k), Pura Vida Missions Inc ($352k) and Lotus Adult Day Care Center ($352k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $3,000 (0.5% of expenses). At year end it held assets of $9.1m against liabilities of $5.9m, net assets of $3.2m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.