Goodwill Industries of the Chesapeake Inc

Analysis

Goodwill Industries of the Chesapeake Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in April 1938, 88 years ago. The IRS classifies it as a school 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 Chesapeake Inc reported income of $98.0m and spending of $93.2m, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $79.4m to $98.0m (+23%), an average of +5.4% a year. The sharpest change came in the year to December 2021, when income rose by 29%. Over the whole period it spent 99% 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 Chesapeake Inc sits at the 100th 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 MD. Charities of a similar size with the same main cause include Washington Reginal Medical System ($97.9m), Bay Area Community Services Inc ($98.3m) and Agnes Scott College ($97.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 40% and program service revenue 59% of the total. Compensation of current officers, directors and key employees was $1.4m (1.5% of expenses). Other salaries and wages came to $26.3m. At year end it held assets of $106.4m against liabilities of $49.3m, net assets of $57.1m. It reported 411 employees.