Goodwill of Colorado

Analysis

Goodwill of Colorado is a registered charity in United States, based in Colorado SPGS, CO. It received its IRS tax-exemption ruling in March 1963, 63 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 of Colorado reported income of $173.5m and spending of $156.6m, spending 90% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $140.8m to $173.5m (+23%), an average of +5.3% a year. The sharpest change came in the year to December 2021, when income rose by 46%. Over the whole period it spent 84% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Goodwill of Colorado 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 100th percentile, and in the 100th percentile within CO. Charities of a similar size with the same main cause include NCRC Community Development Fund Inc ($164.7m), Goodwill Industries of South Florida Inc ($178.1m) and Metropolitan Entertainment & ($164.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 51% and program service revenue 13% of the total. Compensation of current officers, directors and key employees was $1.6m (1.0% of expenses). Other salaries and wages came to $85.4m. At year end it held assets of $261.7m against liabilities of $86.5m, net assets of $175.2m. It reported 7,006 employees.