Goodwill Industries of the Valleys Inc

Analysis

Goodwill Industries of the Valleys Inc is a registered charity in United States, based in Roanoke, VA. It received its IRS tax-exemption ruling in December 1970, 56 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 December 2023, Goodwill Industries of the Valleys Inc reported income of $19.3m and spending of $19.8m, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $19.2m to $19.3m (+0.4%), an average of +0.1% a year. The sharpest change came in the year to December 2020, when income rose by 48%. Over the whole period it spent 92% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Goodwill Industries of the Valleys Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within VA. Charities of a similar size with the same main cause include Abilitypath ($19.3m), Ubc National Job Corps Training Fund Inc ($19.3m) and Cypress Hills Local Development Corporation Inc ($19.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 35% and program service revenue 38% of the total. Compensation of current officers, directors and key employees was $2.1m (10% of expenses). Other salaries and wages came to $8.7m. At year end it held assets of $66.1m against liabilities of $29.8m, net assets of $36.3m. It reported 515 employees.

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.