Nothing wrong with making a profit. Maybe something wrong with guilting people for donations. IDK, maybe I'm missing out. Maybe I should do a guilt drive. /jk
Because they run a non-profit foundation, they have to reinvest any surplus, if I understand correctly.
For the fiscal year ending June 2025 (FY 24-25), they reported a surplus with ~$18 million in revenue over expenses, totaling around $209 million in revenue against $191 million in expenses, boosting net assets to nearly $300 million, primarily funded by donations for free knowledge infrastructure, not business profit.
(I don't know why anyone has a problem with Wikipedia.)
Basically it is profit for the organization. Accounting-wise it is profit even if the owner can't take draws because the organization's net assets went up. Basically if you plan on take a salary instead of draws, running a non-profit isn't a bad gig if you were going to re-invest anyway.
The guy who runs Goodwill is rich as fuck. I used to hate on goodwill but then I realized Goodwill is a good business if it weren't for people not understanding it is just a business. It's good that things get re-used. It's good that people can buy things cheaper rather than shelling out real money for the next lot of chineseum. It's good that people have kind of a BS reason for a tax write off. Converting trash to fewer taxes is a good thing. But it really isn't charity. The only negative aspect of anything they do is having people believe it is when it isn't.
Yeah - Goodwill's companies are run like massive businesses, the largest of which is Goodwill Industries International. FY 2024/25 they had a surplus of ~$623 million, from $8.2B revenue. But they'll have to re-invest that surplus.
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Nothing wrong with making a profit. Maybe something wrong with guilting people for donations. IDK, maybe I'm missing out. Maybe I should do a guilt drive. /jk
I was curious about this and looked through the audit report, here: https://foundation.wikimedia.org/wiki/File:Wikimedia_Foundation_FY_24-25_Audit_Report.pdf
Because they run a non-profit foundation, they have to reinvest any surplus, if I understand correctly.
For the fiscal year ending June 2025 (FY 24-25), they reported a surplus with ~$18 million in revenue over expenses, totaling around $209 million in revenue against $191 million in expenses, boosting net assets to nearly $300 million, primarily funded by donations for free knowledge infrastructure, not business profit.
(I don't know why anyone has a problem with Wikipedia.)
Basically it is profit for the organization. Accounting-wise it is profit even if the owner can't take draws because the organization's net assets went up. Basically if you plan on take a salary instead of draws, running a non-profit isn't a bad gig if you were going to re-invest anyway.
The guy who runs Goodwill is rich as fuck. I used to hate on goodwill but then I realized Goodwill is a good business if it weren't for people not understanding it is just a business. It's good that things get re-used. It's good that people can buy things cheaper rather than shelling out real money for the next lot of chineseum. It's good that people have kind of a BS reason for a tax write off. Converting trash to fewer taxes is a good thing. But it really isn't charity. The only negative aspect of anything they do is having people believe it is when it isn't.
Yeah - Goodwill's companies are run like massive businesses, the largest of which is Goodwill Industries International. FY 2024/25 they had a surplus of ~$623 million, from $8.2B revenue. But they'll have to re-invest that surplus.
The $184M went to politial causes of the Liberal Democrats.