Goodwill of Silicon Valley

Analysis

Goodwill of Silicon Valley is a registered charity in United States, based in San Jose, CA. It received its IRS tax-exemption ruling in August 1942, 84 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Goodwill of Silicon Valley reported income of $67.5m and spending of $55.0m, spending 82% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $51.6m to $67.5m (+31%), an average of +6.9% a year. The sharpest change came in the year to December 2021, when income rose by 15%. Over the whole period it spent 86% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Goodwill of Silicon Valley sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within CA. Charities of a similar size with the same main cause include Washington County Mental Health Services Inc ($67.4m), Community Health Systems Inc ($67.5m) and Loras College ($67.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 38% and program service revenue 2.3% of the total. Compensation of current officers, directors and key employees was $1.0m (1.8% of expenses). Other salaries and wages came to $28.5m. At year end it held assets of $81.4m against liabilities of $9.7m, net assets of $71.7m. It reported 1,670 employees.