Rappahannock Goodwill Industries

Analysis

Rappahannock Goodwill Industries is a registered charity in United States, based in Fredericksbrg, VA. It received its IRS tax-exemption ruling in July 1968, 58 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, Rappahannock Goodwill Industries reported income of $3.8m and spending of $3.1m, spending 83% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $12.5m to $3.8m (-70%), an average of -26% a year. The sharpest change came in the year to December 2021, when income rose by 148%. Over the whole period it spent 86% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Rappahannock Goodwill Industries sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within VA. Charities of a similar size with the same main cause include Virgina Beach Travel Soccer Inc ($3.8m), Council for National Policy ($3.8m) and Womens Center ($3.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 64% and program service revenue 24% of the total. Compensation of current officers, directors and key employees was $1.1m (37% of expenses). Other salaries and wages came to $588k. At year end it held assets of $24.0m against liabilities of $1.9m, net assets of $22.1m. It reported 627 employees.