GOODWILL EDUCATION INITIATIVES INC

EIN: 200749885 501(c)(3) Education

INDIANAPOLIS, IN

Total Revenue
$44,251,243
Total Expenses
$43,953,761
Total Assets
$44,757,876
Net Assets
$30,591,725
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2004
Legal Domicile
IN
Principal Officer
MATTHEW FORTNEY
Phone
3175244313
Tax Period
2024-07-01 to 2025-06-30

GOODWILL EDUCATION INITIATIVES INC, founded in 2004, is a mid-sized nonprofit in the Education sector that reported $44.3M in total revenue in fiscal year 2024.

Mission

TO PROVIDE EDUCATIONAL OPPORTUNITIES DESIGNED TO ENABLE YOUNG PEOPLE AND ADULTS TO ENHANCE THEIR SUCCESS IN LIFE AND WORK; TO DEVELOP, OWN, AND OPERATE ONE OR MORE CHARTER SCHOOLS.

Program Service Accomplishments

Program 1
Expenses: $36,921,360 Revenue: $757,650

GOODWILL EDUCATION INITIATIVES (GEI) PROVIDES EDUCATIONAL OPPORTUNITIES DESIGNED TO ENABLE YOUNG PEOPLE AND ADULTS TO ENHANCE THEIR SUCCESS IN LIFE AND WORK. GOODWILL LEGACY GROUP (GLG ), A...

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GOODWILL EDUCATION INITIATIVES (GEI) PROVIDES EDUCATIONAL OPPORTUNITIES DESIGNED TO ENABLE YOUNG PEOPLE AND ADULTS TO ENHANCE THEIR SUCCESS IN LIFE AND WORK. GOODWILL LEGACY GROUP (GLG ), A NOT-FOR-PROFIT CORPORATION RELATED TO GEI, FORMED GEI IN 2004 IN RESPONSE TO THE LARGE NUMBER OF YOUNG PEOPLE SEEKING EMPLOYMENT AND OTHER SERVICES AT GOODWILL WITH LIMITED CAREER OPPORTUNITIES AND WITHOUT A HIGH SCHOOL DIPLOMA. GEI OPERATES THE INDIANAPOLIS METROPOLITAN HIGH SCHOOL (THE MET), A PUBLIC CHARTER SCHOOL IN AN ECONOMICALLY DEPRESSED URBAN AREA IN INDIANAPOLIS UNDER THE INDIANA CHARTER SCHOOL LAWS AND THE CHARTERING AUTHORITY OF THE MAYOR OF INDIANAPOLIS. GEI ALSO OPERATES THE EXCEL CENTERS, INDIANA PUBLIC CHARTER HIGH SCHOOLS PRIMARILY SERVING ADULTS WHO PREVIOUSLY DROPPED OUT OF HIGH SCHOOL AND WHO WISH TO OBTAIN THEIR HIGH SCHOOL DIPLOMA. THE MET AND ONE EXCEL CENTER LOCATION OCCUPY SPACE IN GOODWILL'S INDIANAPOLIS HEADQUARTERS BUILDING. TWO EXCEL CENTERS OCCUPY SPACE OWNED BY GLG, TWO EXCEL CENTERS OCCUPY SPACE OWNED BY GEI, AND THE OTHER EXCEL CENTERS LEASE SPACE FROM THIRD PARTIES. GEI CONTRACTS WITH GOODWILL FOR CERTAIN BUSINESS SUPPORT SERVICES, INCLUDING HUMAN RESOURCES, SAFETY & SECURITY, INFORMATION TECHNOLOGY, FACILITIES, FINANCE, AND MARKETING. THE EXCEL CENTERS OPERATED IN 18 LOCATIONS IN CENTRAL INDIANA IN FISCAL YEAR 2024-2025.THE MET PRIMARILY SERVES STUDENTS WHO ARE IN FOSTER CARE, HAVE BEEN INVOLVED WITH THE JUVENILE JUSTICE SYSTEM, AND/OR HAVE STRUGGLED IN OTHER SCHOOL SETTINGS.SINCE INCEPTION, MORE THAN 700 STUDENTS HAVE GRADUATED FROM THE MET, AND 64% OF THOSE GRADUATES HAVE GONE ON TO SOME FORM OF POST-SECONDARY EDUCATION OR TRAINING AND REMAIN IN SCHOOL TWO YEARS AFTER GRADUATION.THE EXCEL CENTER OPENED ITS FIRST LOCATION IN AUGUST 2010 AND COMPLETED ITS FIFTEENTH YEAR OF OPERATIONS ON JUNE 30, 2025. DUE TO THE HIGH DEMAND FOR ITS SERVICES, THE EXCEL CENTER HAS EXPANDED TO 18 LOCATIONS THROUGHOUT CENTRAL AND SOUTHERN INDIANA AND STUDENT ENROLLMENT HAS GROWN TO OVER 4,600 STUDENTS. SINCE INCEPTION OVER 9,500 STUDENTS HAVE GRADUATED FROM THE EXCEL CENTER. STUDENTS HAVE VARYING DEGREES OF ACADEMIC CREDITS AND CAPABILITIES WHEN THEY ENROLL.EXCEL CENTER STUDENTS ATTEND CLASSES AND CONNECT WITH A LIFE COACH WHO HELPS THEM NAVIGATE THE BARRIERS THAT STAND IN THE WAY OF THEIR EDUCATIONAL ATTAINMENT. DEMAND FOR EXCEL CENTER ENROLLMENT CONTINUES TO EXCEED CAPACITY. AS A RESULT, GEI PLANS TO OPEN ADDITIONAL FACILITIES AS INDIANA LEGISLATION AND PUBLIC FUNDING ALLOWS.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $43,039,713
Program Service Revenue $633,077
Investment Income $453,880
Other Revenue $124,573
TOTAL REVENUE $44,251,243

Expense Breakdown

Grants Paid $0
Salaries & Benefits $30,500,735
Fundraising Expenses $0
Program Expenses $36,921,360
Other Expenses $13,453,026
TOTAL EXPENSES $43,953,761

Year-over-Year Comparison

2024 2023 Change
Revenue $44,251,243 $41,172,822 +0.1%
Expenses $43,953,761 $35,489,391 +0.2%
Net Income $297,482 $5,683,431 -0.9%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
9
Independent Members
9
Employees
514
Volunteers
25

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$1,532,852
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
GITA BAKER CHAIR 1.00
Officer Director
$0 $0 $0
LAURA PICKETT VICE CHAIR 1.00
Officer Director
$0 $0 $0
KOFI BARKO SECRETARY 1.00
Officer Director
$0 $0 $0
PATRICIA CASTANEDA DIRECTOR 1.00
Director
$0 $0 $0
C PERRY GRIFFITH JR DIRECTOR 1.00
Director
$0 $0 $0
GARLAND GRAVES DIRECTOR 1.00
Director
$0 $0 $0
DON PALMER DIRECTOR 1.00
Director
$0 $0 $0
JAY OLIVER DIRECTOR 1.00
Director
$0 $0 $0
JOSH SHELTON DIRECTOR 1.00
Director
$0 $0 $0
MATTHEW FORTNEY TREASURER-NON VOTING 1.00
Officer
$0 $25,045 $344,407
KENT KRAMER CEO - GOODWILL LEGACY GROUP 1.00
Officer
$0 $42,067 $786,620
BETSY DELGADO SVP OF EDUCATION 1.00
Officer
$0 $42,475 $401,825
KATHERINE BUSTAMANTE VICE PRESIDENT, GEI & THE EXCEL CENTER NATIONAL OF 40.00
Highest
$176,422 $19,276 $195,698
LAKIA OSBORNE SENIOR DIRECTOR, GEI 40.00
Highest
$146,722 $22,307 $169,029
COREY EMERY SENIOR DIRECTOR, GEI 40.00
Highest
$134,708 $6,808 $141,516
DAN SCOTT SENIOR DIRECTOR, CORPORATE IMPACT & ANALYTICS 40.00
Highest
$127,579 $29,911 $157,490
SARAH THOMAS SENIOR DIRECTOR, NATIONAL OFFICE 40.00
Highest
$125,604 $25,733 $151,337
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $44,251,243 $43,953,761 $44,757,876 $297,482
2024 $41,172,822 $35,489,391 $38,755,607 $5,683,431
2023 $34,483,175 $34,206,998 $31,641,632 $276,177
2022 $35,840,790 $34,010,054 $25,308,391 $1,830,736
2021 $37,660,175 $32,424,330 $24,758,862 $5,235,845
2020 $35,463,634 $32,357,870 $18,896,307 $3,105,764
2019 $32,224,458 $31,553,723 $15,554,052 $670,735
2018 $29,491,347 $28,241,177 $14,512,793 $1,250,170
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