Goodwill Industries of the Gulf Coast Inc

Analysis

Goodwill Industries of the Gulf Coast Inc is a registered charity in United States, based in Mobile, AL. It received its IRS tax-exemption ruling in December 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 September 2023, Goodwill Industries of the Gulf Coast Inc reported income of $27.2m and spending of $24.1m, spending 89% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $22.3m to $27.2m (+22%), an average of +5.1% a year. The sharpest change came in the year to September 2021, when income rose by 35%. 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 of the Gulf Coast Inc sits at the 99th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within AL. Charities of a similar size with the same main cause include Center for Employment Training ($27.1m), Consortium for Worker Education Inc ($27.2m) and Access to Capital for Entrepreneurs Inc ($27.0m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 26% and program service revenue 71% of the total. Compensation of current officers, directors and key employees was $888k (3.7% of expenses). Other salaries and wages came to $11.7m. At year end it held assets of $41.0m against liabilities of $12.6m, net assets of $28.4m. It reported 802 employees.