Goodwill Industries-Suncoast Inc

Analysis

Goodwill Industries-Suncoast Inc is a registered charity in United States, based in St Petersburg, FL. It received its IRS tax-exemption ruling in March 1957, 69 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 June 2023, Goodwill Industries-Suncoast Inc reported income of $93.1m and spending of $77.8m, spending 84% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $69.8m to $93.1m (+33%), an average of +7.5% a year. The sharpest change came in the year to June 2021, when income rose by 33%. Over the whole period it spent 87% 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-Suncoast 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 FL. Charities of a similar size with the same main cause include Strada Education Foundation Inc ($91.3m), Goodwill of the Olympics and Rainier Region ($93.7m) and Cent for Urban Community SVCS ($91.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 23% and program service revenue 74% of the total. Compensation of current officers, directors and key employees was $1.9m (2.4% of expenses). Other salaries and wages came to $24.4m. At year end it held assets of $159.1m against liabilities of $60.2m, net assets of $98.9m. It reported 1,556 employees.