Davis Memorial Goodwill Industries

Analysis

Davis Memorial Goodwill Industries is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in September 1942, 84 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Davis Memorial Goodwill Industries reported income of $75.1m and spending of $69.3m, spending 92% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $59.1m to $75.1m (+27%), an average of +6.1% a year. The sharpest change came in the year to December 2021, when income rose by 40%. Over the whole period it spent 97% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Davis Memorial Goodwill Industries 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 98th percentile within DC. Charities of a similar size with the same main cause include New Profit Inc ($74.9m), National Experienced Workforce Solutions Inc ($75.5m) and Kennedy Krieger Education and Community Services Inc ($74.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 22% and program service revenue 22% of the total. Compensation of current officers, directors and key employees was $1.1m (1.6% of expenses). Other salaries and wages came to $34.6m. At year end it held assets of $79.0m against liabilities of $48.5m, net assets of $30.4m. It reported 1,278 employees.