Goodwill Industries Of Northern New England
Goodwill Industries Of Northern New England maintains strong assets but shows minor deficits in recent years and lacks clear executive compensation reporting.
EIN: 10284340 · Gorham, ME · NTEE: J32Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $51.4M |
| Total Expenses | $88.8M |
| Program Spending | 80% |
| CEO/Top Officer Pay | $80 |
| Net Assets | $43.5M |
| Transparency Score | 65/100 |
Is Goodwill Industries Of Northern New England Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Goodwill Industries Of Northern New England directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Goodwill Industries Of Northern New England
Goodwill Industries Of Northern New England (EIN: 10284340) is a nonprofit organization based in Gorham, ME, classified under NTEE code J32Z. The organization reported total revenue of $51.4M and total assets of $93.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Goodwill Industries Of Northern New England's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Goodwill Industries Of Northern New England is a major nonprofit that has been operating for 57 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 2.9%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $88.4M |
| Total Expenses | $88.8M |
| Surplus / Deficit | $-345,449 |
| Total Assets | $85.9M |
| Total Liabilities | $42.4M |
| Net Assets | $43.5M |
| Operating Margin | -0.4% |
| Debt-to-Asset Ratio | 49.4% |
| Months of Reserves | 11.6 months |
Financial Health Grade: B
In 2024, Goodwill Industries Of Northern New England reported a deficit of $345K with expenses exceeding revenue, holds 11.6 months of operating reserves (strong position), has a debt-to-asset ratio of 49.4% (moderate leverage).
Financial Trends
Over 14 years of filings (2011–2024), Goodwill Industries Of Northern New England's revenue has grown at a compound annual growth rate (CAGR) of 2.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +7.2% | +6.9% | +0.4% |
| 2023 | -3.2% | +8.1% | +34.4% |
| 2022 | +0.8% | +5.0% | -7.5% |
| 2021 | +26.2% | -0.2% | +30.9% |
| 2020 | -15.8% | -3.1% | -4.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 1969 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Goodwill Industries Of Northern New England with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 80%
- fundraising: 10%
According to IRS 990 filings, Goodwill Industries Of Northern New England allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $345K, with expenses exceeding revenue.
- Debt-to-asset ratio: 49.4%.
Executive Compensation Analysis
The consistent reporting of 'Officer Comp=0%' across all available filings for an organization with revenues exceeding $80 million is highly unusual and suggests that executive compensation may be reported under other expense categories or is not being accurately disclosed in this specific field, significantly impacting transparency.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Goodwill Industries Of Northern New England's IRS 990 filings:
- Consistent 'Officer Comp=0%' reporting for a large organization, raising transparency concerns about executive compensation.
- Minor operating deficits in the two most recent fiscal periods (2023 and 2024).
Strengths
The following positive indicators were identified for Goodwill Industries Of Northern New England:
- Strong and growing asset base, increasing from $52,323,721 in 2015 to $85,875,592 in 2024.
- Consistent high revenue generation, exceeding $80 million in most recent years.
- Generally stable financial operations with expenses closely aligned with revenues over the long term.
Frequently Asked Questions about Goodwill Industries Of Northern New England
Is Goodwill Industries Of Northern New England a legitimate charity?
Based on AI analysis of IRS 990 filings, Goodwill Industries Of Northern New England (EIN: 10284340) some concerns. Mission Score: 65/100. 2 red flags identified, 3 strengths noted.
How does Goodwill Industries Of Northern New England spend its money?
Goodwill Industries Of Northern New England directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Goodwill Industries Of Northern New England tax-deductible?
Goodwill Industries Of Northern New England is registered as a tax-exempt nonprofit (EIN: 10284340). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Goodwill Industries Of Northern New England CEO make?
Goodwill Industries Of Northern New England's highest-compensated officer earns $80 annually. The organization reported $51.4M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Goodwill Industries Of Northern New England's spending goes to programs?
Goodwill Industries Of Northern New England directs 80% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Goodwill Industries Of Northern New England compare to similar nonprofits?
With a transparency score of 65/100 (Good), Goodwill Industries Of Northern New England is above average for NTEE category J32Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Goodwill Industries Of Northern New England located?
Goodwill Industries Of Northern New England is headquartered in Gorham, Maine and files with the IRS under EIN 10284340. It is classified under NTEE code J32Z.
How many years of IRS 990 filings does Goodwill Industries Of Northern New England have?
Goodwill Industries Of Northern New England has 14 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $51.4M in total revenue.
How is executive compensation handled if 'Officer Comp' is consistently reported as 0%?
The consistent reporting of 0% for officer compensation across all filings for an organization of this size (over $80M in revenue) is highly unusual and suggests that executive compensation might be reported under other expense categories, such as salaries and wages, or that the reporting in this specific field is incomplete. This warrants further investigation into the full IRS Form 990 to understand the true compensation structure for key executives.
What is the detailed breakdown of program, administrative, and fundraising expenses?
The provided summary data does not offer a detailed breakdown of program, administrative, and fundraising expenses. While the overall expense-to-revenue ratio is generally close to 1, a more granular view from the full IRS Form 990, specifically Part IX, would be necessary to accurately assess spending efficiency in these categories.
Why did expenses slightly exceed revenue in the 2023 and 2024 fiscal periods?
In 2023, expenses ($82,999,128) slightly exceeded revenue ($82,470,012), and similarly in 2024, expenses ($88,750,564) were slightly higher than revenue ($88,405,115). These minor deficits could be due to increased operational costs, strategic investments, or fluctuations in revenue streams. Given the substantial asset base, these small deficits are likely manageable but warrant monitoring.
Filing History
IRS 990 filing history for Goodwill Industries Of Northern New England showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Goodwill Industries Of Northern New England's revenue has grown by 45.8%, moving from $60.7M to $88.4M. Total assets increased by 115.6% over the same period, from $39.8M to $85.9M. Total functional expenses rose by 52.3%, from $58.3M to $88.8M. In its most recent filing year (2024), Goodwill Industries Of Northern New England reported a deficit of $345K, with expenses exceeding revenue. The organization holds $42.4M in liabilities against $85.9M in assets (debt-to-asset ratio: 49.4%), resulting in net assets of $43.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $88.4M | $88.8M | $85.9M | $42.4M | — | View 990 |
| 2023 | $82.5M | $83.0M | $85.6M | $43.2M | — | View 990 |
| 2022 | $85.2M | $76.8M | $63.7M | $21.4M | — | View 990 |
| 2021 | $84.5M | $73.1M | $68.8M | $33.4M | — | View 990 |
| 2020 | $67.0M | $73.2M | $52.6M | $29.0M | — | View 990 |
| 2019 | $79.5M | $75.6M | $54.9M | $25.3M | — | View 990 |
| 2018 | $75.7M | $75.3M | $52.8M | $27.6M | — | View 990 |
| 2017 | $77.1M | $76.7M | $52.5M | $28.2M | — | View 990 |
| 2016 | $79.0M | $78.1M | $52.6M | $28.8M | — | View 990 |
| 2015 | $73.7M | $74.5M | $52.3M | $29.4M | — | View 990 |
| 2014 | $71.5M | $67.8M | $52.8M | $29.1M | — | View 990 |
| 2013 | $70.3M | $66.2M | $47.8M | $27.9M | — | View 990 |
| 2012 | $65.4M | $62.8M | $43.6M | $28.0M | — | View 990 |
| 2011 | $60.7M | $58.3M | $39.8M | $25.3M | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $88.4M, expenses of $88.8M, and assets of $85.9M (revenue +7.2% year-over-year).
- 2023: Revenue of $82.5M, expenses of $83.0M, and assets of $85.6M (revenue -3.2% year-over-year).
- 2022: Revenue of $85.2M, expenses of $76.8M, and assets of $63.7M (revenue +0.8% year-over-year).
- 2021: Revenue of $84.5M, expenses of $73.1M, and assets of $68.8M (revenue +26.2% year-over-year).
- 2020: Revenue of $67.0M, expenses of $73.2M, and assets of $52.6M (revenue -15.8% year-over-year).
- 2019: Revenue of $79.5M, expenses of $75.6M, and assets of $54.9M (revenue +5.0% year-over-year).
- 2018: Revenue of $75.7M, expenses of $75.3M, and assets of $52.8M (revenue -1.8% year-over-year).
- 2017: Revenue of $77.1M, expenses of $76.7M, and assets of $52.5M (revenue -2.4% year-over-year).
- 2016: Revenue of $79.0M, expenses of $78.1M, and assets of $52.6M (revenue +7.2% year-over-year).
- 2015: Revenue of $73.7M, expenses of $74.5M, and assets of $52.3M (revenue +3.1% year-over-year).
- 2014: Revenue of $71.5M, expenses of $67.8M, and assets of $52.8M (revenue +1.7% year-over-year).
- 2013: Revenue of $70.3M, expenses of $66.2M, and assets of $47.8M (revenue +7.5% year-over-year).
- 2012: Revenue of $65.4M, expenses of $62.8M, and assets of $43.6M (revenue +7.9% year-over-year).
- 2011: Revenue of $60.7M, expenses of $58.3M, and assets of $39.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Goodwill Industries Of Northern New England:
Data Sources and Methodology
This transparency report for Goodwill Industries Of Northern New England is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.