CharityWatch Analysts perform an in-depth analysis of charities' audited financial statements and IRS tax filings, and often review other documents such as state filings, annual reports, and fundraising contracts during their evaluations. Below are select notes that CharityWatch believes may be of interest to donors.

Any time an Analysts' Note refers to a charity's Audited Financial Statements or IRS tax form, CharityWatch encourages interested donors to obtain a copy of the referenced documents so that they may view the information in context. Please contact the charity directly to request a copy of any referenced document. Charity tax forms and audits may also be obtained from a number of online databases. For a list of sources, please visit our LINKS page.

Note(s)
CharityWatch's rating of Goodwill Industries International (GII) is based on its audited consolidated financial statements, which also include the financial activities of Goodwill Mission and Job Creation Services.

Not included in the rating are the GII members that operate as autonomous, community-based nonprofit corporations. GII's membership consists of local Goodwill organizations in the United States and Canada, with international affiliates. GII provides its members with various services and also represents its membership before the Federal government and international entities. (See Note A of the 2015 GII consolidated audit.)
According to the Goodwill Industries International (GII) consolidated audit of December 31, 2015 (Note O, Expenditures to Subrecipients), the Organization had expenditures of federal awards to subrecipients in the amount of approximately $13.9 million in 2015. CharityWatch has excluded this $13.9 million of subawards to member Goodwills from its calculation of GII's Program %.
According to the Goodwill Industries International consolidated audit of December 31, 2015 (Note M), the Organization received in-kind contributions valued at $33,351,790 in 2015, including in-kind Public Service Announcements valued at $32,295,033.

[Note: CharityWatch generally excludes the value of in-kind (non-cash) donations of goods and services from its calculations of Program % and Cost to Raise $100. More information on how grades are calculated and the treatment of in-kind donations can be found by clicking on "About CharityWatch" from the navigation bar and then clicking on "Criteria & Methodology".]
According to the Goodwill Industries International consolidated audit of December 31, 2015 (Note H, Notes Receivable):

"The Organization (specifically, GMJCS [Goodwill Mission & Job Creation Services]) has issued loan proceeds totaling approximately $6,900,000 to twelve Goodwill members and, in return, has obtained notes receivable from the members. The notes bear interest at a rate of 3.5% per annum and mature on various dates through 2020."

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