Rappahannock Goodwill Stores and Services Inc

Analysis

Rappahannock Goodwill Stores and Services Inc is a registered charity in United States, based in Fredericksbrg, VA. It received its IRS tax-exemption ruling in March 2006, 20 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Rappahannock Goodwill Stores and Services Inc reported income of $35.5m and spending of $36.1m, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $26.1m to $35.5m (+36%), an average of +8.0% a year. The sharpest change came in the year to December 2021, when income rose by 43%. Over the whole period it spent 100% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Rappahannock Goodwill Stores and Services Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within VA. Charities of a similar size with the same main cause include Unity of Greater New Orleans Inc ($35.5m), Training Rehabilitation & Development Institute Inc ($35.5m) and American Society of Heating Refrigerating & A-C Engineers ($35.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 45% and program service revenue 55% of the total. Other salaries and wages came to $10.3m. At year end it held assets of $16.7m against liabilities of $13.3m, net assets of $3.4m.