Goodwill Mennonite Home Inc

Analysis

Goodwill Mennonite Home Inc is a registered charity in United States, based in Grantsville, MD. It received its IRS tax-exemption ruling in February 1966, 60 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 March 2023, Goodwill Mennonite Home Inc reported income of $13.4m and spending of $15.4m, spending 115% of what it took in. Across the 4 years on record, from March 2020 to March 2023, income grew from $12.1m to $13.4m (+11%), an average of +3.4% a year. The sharpest change came in the year to March 2021, when income rose by 18%. Over the whole period it spent 103% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Goodwill Mennonite Home Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within MD. Charities of a similar size with the same main cause include Impact Services Corp ($13.4m), Tennessee Technology Development Corporation ($13.4m) and Flathead Industries ($13.3m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 2.8% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $318k (2.1% of expenses). Other salaries and wages came to $8.2m. At year end it held assets of $21.3m against liabilities of $3.9m, net assets of $17.4m. It reported 257 employees.