Memphis Goodwill Industries Inc

Analysis

Memphis Goodwill Industries Inc is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in August 1942, 84 years ago. 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, Memphis Goodwill Industries Inc reported income of $5.9m and spending of $4.8m, spending 81% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.0m to $5.9m (+48%), an average of +10% a year. The sharpest change came in the year to December 2022, when income rose by 16%. Over the whole period it spent 81% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Memphis Goodwill Industries Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within TN. Charities of a similar size with the same main cause include United Way of Midland County ($5.9m), Political Economy Research Center Inc ($5.9m) and St Francis Home ($5.9m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $3.1m. At year end it held assets of $1.7m against liabilities of $626k, net assets of $1.1m. It reported 147 employees.