Goodwill Industries of Kentucky Inc

Analysis

Goodwill Industries of Kentucky Inc is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in March 1938, 88 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 Kentucky Inc reported income of $127.9m and spending of $112.6m, spending 88% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $69.7m to $127.9m (+84%), an average of +16% a year. The sharpest change came in the year to December 2022, when income rose by 26%. Over the whole period it spent 85% 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 Kentucky 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 KY. Charities of a similar size with the same main cause include Mankato Rehabilitation Center Inc ($119.8m), Social Vocational Services Inc ($133.4m) and Brooklyn Navy Yard Development Corporation ($119.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 37% and program service revenue 61% of the total. Compensation of current officers, directors and key employees was $1.4m (1.2% of expenses). Other salaries and wages came to $59.9m. At year end it held assets of $216.1m against liabilities of $38.0m, net assets of $178.1m. It reported 4,553 employees.