The Goodwin Foundation A New Jersey Non Profit Corporation
The Goodwin Foundation: Declining Revenue and High Administrative Costs Raise Concerns
EIN: 222882244 · Rehoboth Beach, DE · Updated: 2026-04-04
About The Goodwin Foundation A New Jersey Non Profit Corporation
The Goodwin Foundation A New Jersey Non Profit Corporation (EIN: 222882244) is a nonprofit organization based in Rehoboth Beach, DE. The organization reported total revenue of $806K and total assets of $1.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Goodwin Foundation A New Jersey Non Profit Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates The Goodwin Foundation A New Jersey Non Profit Corporation 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: 90%
- programs: 5%
- fundraising: 5%
According to IRS 990 filings, The Goodwin Foundation A New Jersey Non Profit Corporation allocates its expenses as follows: admin: 90%, programs: 5%, fundraising: 5%. Only 5% is directed toward programs, which may warrant further investigation by donors.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, which is unusual for an organization with significant expenses and assets, suggesting potential undisclosed compensation or a fully volunteer-run structure.
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 The Goodwin Foundation A New Jersey Non Profit Corporation's IRS 990 filings:
- Consistent negative net income (expenses exceeding revenue) in multiple years, notably 2021 ($205,027 revenue vs. $449,995 expenses) and 2015 ($-236,538 revenue vs. $668,305 expenses).
- Significant drop in revenue from $954,574 in 2022 to $376,993 in 2023, without a corresponding decrease in expenses.
- High proportion of expenses allocated to non-programmatic activities, as indicated by the spending breakdown.
- The 'l' (liabilities) field consistently shows '1' across all recent filings, indicating the presence of liabilities, though the specific amounts are not provided in the given data.
- The 'c' (compensation) field consistently shows '0%' across all filings, which is highly unusual for an organization with substantial financial activity and could indicate a lack of transparency regarding executive compensation.
Strengths
The following positive indicators were identified for The Goodwin Foundation A New Jersey Non Profit Corporation:
- Maintains a substantial asset base, with $2,083,055 in assets in 2023, providing some financial stability despite revenue fluctuations.
- Has a long operating history with available financial data dating back to 2013.
Frequently Asked Questions about The Goodwin Foundation A New Jersey Non Profit Corporation
What does The Goodwin Foundation A New Jersey Non Profit Corporation do?
The Goodwin Foundation A New Jersey Non Profit Corporation is a nonprofit organization in the Unknown sector, located in Rehoboth Beach, Delaware. It is classified under NTEE code Unknown.
How much revenue does The Goodwin Foundation A New Jersey Non Profit Corporation have?
The Goodwin Foundation A New Jersey Non Profit Corporation reported total revenue of $806,085. Based on 10 IRS 990 filings on record.
What are The Goodwin Foundation A New Jersey Non Profit Corporation's total assets?
The Goodwin Foundation A New Jersey Non Profit Corporation holds total assets of $1,790,509 as reported in IRS 990 filings.
Where is The Goodwin Foundation A New Jersey Non Profit Corporation located?
The Goodwin Foundation A New Jersey Non Profit Corporation is based in Rehoboth Beach, Delaware.
What is The Goodwin Foundation A New Jersey Non Profit Corporation's EIN?
The Goodwin Foundation A New Jersey Non Profit Corporation's Employer Identification Number (EIN) is 222882244. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is The Goodwin Foundation A New Jersey Non Profit Corporation?
The Goodwin Foundation A New Jersey Non Profit Corporation is classified under NTEE code Unknown (Unknown).
Is The Goodwin Foundation A New Jersey Non Profit Corporation a registered 501(c)(3)?
The Goodwin Foundation A New Jersey Non Profit Corporation appears in IRS records (EIN: 222882244). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does The Goodwin Foundation A New Jersey Non Profit Corporation file IRS Form 990?
Yes, The Goodwin Foundation A New Jersey Non Profit Corporation has 10 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was The Goodwin Foundation A New Jersey Non Profit Corporation's revenue in 2023?
In the 202312 filing period, The Goodwin Foundation A New Jersey Non Profit Corporation reported total revenue of $376,993, total expenses of $362,718, and net assets of $2,083,055.
Is The Goodwin Foundation A New Jersey Non Profit Corporation's revenue growing or declining?
The Goodwin Foundation A New Jersey Non Profit Corporation's revenue is declining. Revenue went from $954,574 (202212) to $376,993 (202312), a -60.5% change. Based on 10 filings on record.
What is The Goodwin Foundation A New Jersey Non Profit Corporation's most recent 990 filing?
The most recent IRS Form 990 filing for The Goodwin Foundation A New Jersey Non Profit Corporation covers tax period 202312. It shows revenue of $376,993, expenses of $362,718, total assets of $2,083,055, and liabilities of $1.
How much does The Goodwin Foundation A New Jersey Non Profit Corporation spend on programs vs administration?
Based on IRS 990 analysis, The Goodwin Foundation A New Jersey Non Profit Corporation allocates approximately 5% of expenses to program services, 90% to administrative costs, and 5% to fundraising. Overhead costs appear high relative to program spending.
Is The Goodwin Foundation A New Jersey Non Profit Corporation a trustworthy charity?
Based on AI analysis of IRS 990 data, The Goodwin Foundation A New Jersey Non Profit Corporation shows mixed signals. Mission Score: 65/100 (Good). 5 red flags identified. 2 strengths noted.
What are the red flags for The Goodwin Foundation A New Jersey Non Profit Corporation?
The following concerns were identified: Consistent negative net income (expenses exceeding revenue) in multiple years, notably 2021 ($205,027 revenue vs. $449,995 expenses) and 2015 ($-236,538 revenue vs. $668,305 expenses).. Significant drop in revenue from $954,574 in 2022 to $376,993 in 2023, without a corresponding decrease in expenses.. High proportion of expenses allocated to non-programmatic activities, as indicated by the spending breakdown.. The 'l' (liabilities) field consistently shows '1' across all recent filings, indicating the presence of liabilities, though the specific amounts are not provided in the given data.. The 'c' (compensation) field consistently shows '0%' across all filings, which is highly unusual for an organization with substantial financial activity and could indicate a lack of transparency regarding executive compensation.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are The Goodwin Foundation A New Jersey Non Profit Corporation's strengths?
Positive indicators for The Goodwin Foundation A New Jersey Non Profit Corporation include: Maintains a substantial asset base, with $2,083,055 in assets in 2023, providing some financial stability despite revenue fluctuations.. Has a long operating history with available financial data dating back to 2013.. These findings are derived from AI analysis of the organization's financial filings.
How does The Goodwin Foundation A New Jersey Non Profit Corporation compensate executives?
Executive compensation is reported as 0% across all available filings, which is unusual for an organization with significant expenses and assets, suggesting potential undisclosed compensation or a fully volunteer-run structure. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How transparent is The Goodwin Foundation A New Jersey Non Profit Corporation?
• The organization's revenue has significantly declined from $954,574 in 2022 to $376,993 in 2023. • Expenses consistently exceed revenue, with $362,718 in expenses against $376,993 in revenue in 2023, and $444,790 against $954,574 in 2022. • The organization consistently reports 0% compensation for its leadership, which requires further investigation given the substantial expenses. Transparency assessment is based on the availability and consistency of IRS 990 filing data, spending disclosure, and governance indicators.
Given the consistent reporting of 0% compensation, how are the operational expenses, particularly the significant 'x' (expenses) figures, being managed and funded if not through compensated staff?
The consistent 0% compensation suggests either a fully volunteer-run operation or that compensation is being reported under other expense categories, which would obscure the true cost of executive leadership. Further investigation into the detailed expense breakdown is needed to understand how $362,718 in expenses in 2023 is incurred without reported compensation.
What is the strategic plan to address the significant and recurring deficit where expenses frequently exceed revenue, and how will this impact the long-term sustainability of the foundation?
The foundation has consistently spent more than it earns in several years, drawing down on its assets. Without a clear strategy to increase revenue or significantly reduce expenses, the long-term financial viability of the organization is questionable, despite its current asset base.
Filing History
IRS 990 filing history for The Goodwin Foundation A New Jersey Non Profit Corporation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), The Goodwin Foundation A New Jersey Non Profit Corporation's revenue has declined by 2.4%, moving from $386K to $377K. Total assets decreased by 40.8% over the same period, from $3.5M to $2.1M. Total functional expenses rose by 312.1%, from $88K to $363K. In its most recent filing year (2023), The Goodwin Foundation A New Jersey Non Profit Corporation reported a surplus of $14K, with revenue exceeding expenses. The organization holds $1 in liabilities against $2.1M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $2.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $377K | $363K | $2.1M | $1 | — | View 990 |
| 2022 | $955K | $445K | $2.1M | $1 | — | View 990 |
| 2021 | $205K | $450K | $1.6M | $1 | — | View 990 |
| 2020 | $909K | $438K | $1.8M | $1 | — | — |
| 2019 | $187K | $414K | $1.3M | $1 | — | View 990 |
| 2015 | $-236,538 | $668K | $2.7M | $0 | — | View 990 |
| 2014 | $802K | $422K | $3.6M | $0 | — | View 990 |
| 2013 | $199K | $452K | $3.2M | $0 | — | View 990 |
| 2012 | $380K | $431K | $3.5M | $0 | — | View 990 |
| 2011 | $386K | $88K | $3.5M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $377K, expenses of $363K, and assets of $2.1M (revenue -60.5% year-over-year).
- 2022: Revenue of $955K, expenses of $445K, and assets of $2.1M (revenue +365.6% year-over-year).
- 2021: Revenue of $205K, expenses of $450K, and assets of $1.6M (revenue -77.4% year-over-year).
- 2020: Revenue of $909K, expenses of $438K, and assets of $1.8M (revenue +385.0% year-over-year).
- 2019: Revenue of $187K, expenses of $414K, and assets of $1.3M.
- 2015: Revenue of $-236,538, expenses of $668K, and assets of $2.7M (revenue -129.5% year-over-year).
- 2014: Revenue of $802K, expenses of $422K, and assets of $3.6M (revenue +303.7% year-over-year).
- 2013: Revenue of $199K, expenses of $452K, and assets of $3.2M (revenue -47.7% year-over-year).
- 2012: Revenue of $380K, expenses of $431K, and assets of $3.5M (revenue -1.6% year-over-year).
- 2011: Revenue of $386K, expenses of $88K, and assets of $3.5M.
Data Sources and Methodology
This transparency report for The Goodwin Foundation A New Jersey Non Profit Corporation 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.