Goodwill Industries of Northeast Texas Inc

Analysis

Goodwill Industries of Northeast Texas Inc is a registered charity in United States, based in Sherman, TX. It received its IRS tax-exemption ruling in April 2001, 25 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 December 2023, Goodwill Industries of Northeast Texas Inc reported income of $17.4m and spending of $16.1m, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $9.9m to $17.4m (+75%), an average of +15% a year. The sharpest change came in the year to December 2023, when income rose by 25%. Over the whole period it spent 94% 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 Northeast Texas 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 98th percentile within TX. Charities of a similar size with the same main cause include Bronx Community Health Network Inc ($17.4m), True North Flexstaff Inc ($17.4m) and Russell Innovation Center for Entrepreneurs Inc ($17.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.1% and program service revenue 91% of the total. Other salaries and wages came to $10.0m. At year end it held assets of $17.7m against liabilities of $1.5m, net assets of $16.2m. It reported 693 employees.