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Top Rated

Goodwill Industries International (National Office)

CharityWatch report issued
April 2022

Top-Rated Charity
A
CharityWatch Grade
Our independent grade based
on a number of factors.
 
87%
Program Percentage
Amount spent on programs
relative to overhead.
 
$2
Cost to Raise $100
Amount spent to raise
$100 of contributions.

Contact Information

Goodwill Industries International (National Office)
15810 Indianola Dr
Rockville , MD 20855-2639

Other Names

Goodwill

Tax Status

501(c)3

Stated Mission

Enhances the dignity and quality of life of individuals, families, and communities by eliminating barriers to opportunity and helping people in need reach their fullest potential through the power of work.

View similar charities
Data based on Fiscal Year Ended 12/31/2020

Program Percentage: 87%

The percentage of Goodwill Industries International (National Office)'s cash budget it spends on programs relative to overhead (fundraising, management, and general expenses).

$29,000,000

Calculated Total Expenses

(rounded)

 

Cost to Raise $100: $2

How many dollars Goodwill Industries International (National Office) spends on fundraising to raise each $100 of contributions.

$30,000,000

Calculated Total Contributions

(rounded)

Government Funding

25% to 49%

Percentage of cash revenue
coming from government sources

 

Financial Documents

Entity Document Type Tax ID
Goodwill Industries International Audited Consolidated Financial Statements multiple
Goodwill Industries International IRS Form 990 53-0196517
Entity: Goodwill Industries International
Document Type: Audited Consolidated Financial Statements
Tax ID: multiple
Entity: Goodwill Industries International
Document Type: IRS Form 990
Tax ID: 53-0196517

Governance & Transparency

CharityWatch evaluates certain criteria related to a charity's Governance and Transparency. Donors may want to consider a charity's willingness to be open and transparent with CharityWatch to be a good litmus test for determining its commitment to public accountability.
This charity is Top-Rated
What does it mean to be Top-Rated?
 
Goodwill Industries International (National Office)
meets governance benchmarks.
 
Goodwill Industries International (National Office)
meets transparency benchmarks.
Transparency
Provides Financial Information
Audit Accessibility
Governance: Policies
Reports regularly & consistently monitoring & enforcing compliance with a written Conflict of Interest Policy
Reports required, annual disclosure by officers, directors, and key staff of interests that could give rise to conflicts
Reports having a written Whistleblower Policy
Reports having a written Document Retention and Destruction Policy
Governance: Financials
Reports providing copy of tax form to all board members prior to filing it with IRS
Reports that financial statements were audited by an independent accountant
Governance: Board of Directors
Reports at least 5 voting board members
51% or more of voting board members reported as independent
Reports documenting minutes of board and board committee meetings
Privacy Policy
Privacy Policy

  Name Title Compensation
1 Steven C. Preston CEO $469,247
2 Brian Itzkowitz Chief Member Advancement Officer $375,919
3 David Eagles COO $318,747
1
Name: Steven C. Preston
Title: CEO
Compensation: $469,247
2
Name: Brian Itzkowitz
Title: Chief Member Advancement Officer
Compensation: $375,919
3
Name: David Eagles
Title: COO
Compensation: $318,747

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.

CharityWatch's rating of Goodwill Industries International (GII) is based on the GII audited consolidated financial statements for the year ended December 31, 2020. The rating does not include the local GII member organizations that operate as autonomous, community-based nonprofit corporations.


According to the GII consolidated audit of December 31, 2020 (Note 1 re: Nature of activities):

"...GII functions as a member association comprised of a network of independent community-based Goodwill organizations in the United States and Canada and international affiliates. ... GII facilitates member-to-member sharing, knowledge transfer and direct and supportive services to assist members in providing local community mission services. Each local Goodwill organization is an autonomous member of GII that operates as a nonprofit corporation. This independence affords local Goodwill organizations the flexibility to respond to community needs and opportunities. GII also advocates on behalf of its membership with the federal government, corporate, foundation, and international entities."

According to the Goodwill Industries International (GII) consolidated audit of December 31, 2020 (Note 16, Expenditures to Subrecipients), GII had expenditures of federal awards to subrecipients in the amount of $23,302,096 in 2020. CharityWatch has excluded this $23.3 million of expenditures to subrecipient member Goodwills from its calculation of GII's Program Percentage.

According to the Goodwill Industries International consolidated audit of December 31, 2020 (Note 10, Debt Obligations, Paycheck Protection Program loan):

"In May 2020, the Organization received a $1,908,300 loan through the Paycheck Protection Program (PPP) under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The Organization has elected to account for the loan as a financial liability...until the time at which forgiveness is received. Under the terms of the agreement, monthly payments will continue until either the lending institution receives communication of loan forgiveness from the Small Business Administration (SBA) or May 2022, whichever is earlier. The loan bears interest at a fixed rate of 1% per annum. The loan and related accrued interest are forgivable after 24 weeks if the Organization uses the loan proceeds for eligible purposes as defined in the agreement. The unforgiven portion of the PPP loan is payable over two years, with a deferral of payments for the first six months. The loan is not secured by any property of the Organization."

According to the Goodwill Industries International consolidated audit of December 31, 2020 (Note 1 re: Financial risk):

"The Organization invests in a professionally managed portfolio that contains various marketable securities. Such investments are exposed to various risks, such as market and credit. Due to the level of risk associated with such investments and the level of uncertainty related to changes in the value of such investments, it is at least reasonably possible that changes in risk in the near-term could materially affect investment balances and the amounts reported in the [audited] consolidated financial statements."

According to the Goodwill Industries International consolidated audit of December 31, 2020 (Note 15, COVID-19):

"On January 30, 2020, the World Health Organization declared the coronavirus (COVID-19) outbreak a 'Public Health Emergency of International Concern' and on March 11, 2020, declared it to be a pandemic. The coronavirus and actions taken to mitigate the spread of it have had, and may continue to have, an adverse impact on the economies and financial markets of many countries, including the United States of America.

"It is unknown how long the adverse conditions associated with the coronavirus will last and what the complete financial effect will be to the Organization. The extent of the impact of COVID-19 on the Organization's operations and financial performance are uncertain and cannot be predicted. Management continues to monitor the impact of COVID-19 and will adjust operations accordingly."

According to the Goodwill Industries International (GII) 2020 tax filing, GII reports re: Compensation, Supplemental Information (IRS Form 990, Schedule J, Part III):

Regarding severance payments to officers, directors, trustees, key employees and highest compensated employees (Schedule J, Part I, Line 4a):

"Paul Downes received a $85,812 severance payment during 2020."

[Paul Downes is reported as VP Information Systems, with total compensation of $190,017 in 2020 (Schedule J, Part II).]


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