GOODWILL INDUSTRIES OF SOUTHERN NEW ENGLAND (EIN 237431264) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1969

Legal Domicile

Principal Officer

HERMAN R BORER JR

Phone

2037772000

Tax Period

2024-01-01 to 2024-12-31

GOODWILL INDUSTRIES OF SOUTHERN NEW ENGLAND, founded in 1969, is a mid-sized nonprofit that reported $44.0M in total revenue in fiscal year 2024. Expenses of $40.6M left a modest 8% surplus.

Mission

GOODWILL IS STRENGTHENING COMMUNITIES BY SUPPORTING INDIVIDUALS OF ALL ABILITIES THROUGH PERSON-CENTERED EMPLOYMENT, TRAINING AND SERVICES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $452,690

Program Service Revenue $42,835,597

Investment Income $655,074

Other Revenue $13,687

TOTAL REVENUE $43,957,048

Expense Breakdown

Grants Paid $0

Salaries & Benefits $27,494,847

Fundraising Expenses $107,275

Program Expenses $36,819,536

Other Expenses $13,105,782

TOTAL EXPENSES $40,600,629

Year-over-Year Comparison

	2024	2023	Change
Revenue	$43,957,048	$40,753,260	+0.1%
Expenses	$40,600,629	$36,286,755	+0.1%
Net Income	$3,356,419	$4,466,505	-0.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

1264

Volunteers

542

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

$1,198,984

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HERMAN R BORER JR	PRESIDENT	40.00	Officer	$367,187	$5,722	$372,909
ROBERT BURNS	COO	40.00	Officer	$255,878	$5,357	$261,235
MARCUS NOTZ	CIO	40.00	Officer	$174,143	$26,418	$200,561
ED SOKAITIS	VP HUMAN RES	40.00	Officer	$175,766	$32,252	$208,018
JAMES MURRAY	VP RHODE ISL	40.00	Officer	$140,280	$15,981	$156,261
ROGER HESS	CHAIRMAN	1.00	Officer Director	$0	$0	$0
JAY F BRODERICK	FIRST VICE C	1.00	Officer Director	$0	$0	$0
FRANK DIXON	SECOND VICE	1.00	Officer Director	$0	$0	$0
MATTHEW C SUSMAN ESQ	SECRETARY	1.00	Officer Director	$0	$0	$0
JENNIFER ELWOOD	ASSISTANT SE	1.00	Officer Director	$0	$0	$0
RODNEY SNIPES	ASSISTANT SE	1.00	Officer Director	$0	$0	$0
DENNIS REILLY	TREASURER	1.00	Officer Director	$0	$0	$0
RONALD NAULT	ASSISTANT TR	1.00	Officer Director	$0	$0	$0
JOHN ALSTON JR FIRE CHIEF	DIRECTOR	1.00	Director	$0	$0	$0
DAVID W BILLER ESQ	DIRECTOR	1.00	Director	$0	$0	$0
KEVIN E COLE	DIRECTOR	1.00	Director	$0	$0	$0
JENNIFER A CORVO ESQ	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTOPHER COZZI	DIRECTOR	1.00	Director	$0	$0	$0
KIMBERLY CUNNINGHAM	DIRECTOR	1.00	Director	$0	$0	$0
WILLIAM L DIXON	DIRECTOR	1.00	Director	$0	$0	$0
DAVID M FERRETTI	DIRECTOR	1.00	Director	$0	$0	$0
DAVID GANNON	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL C KINNE	DIRECTOR	1.00	Director	$0	$0	$0
CHERYL LOPES	DIRECTOR	1.00	Director	$0	$0	$0
JEFFREY MACHADO	DIRECTOR	1.00	Director	$0	$0	$0
PATRICK MEACHAM	DIRECTOR	1.00	Director	$0	$0	$0
AVERY SEAMAN	DIRECTOR	1.00	Director	$0	$0	$0
JOHN STRAIN III	DIRECTOR	1.00	Director	$0	$0	$0
DEBRA TESTA	DIRECTOR	1.00	Director	$0	$0	$0
PAUL DORSI ESQ	DIRECTOR	1.00	Director	$0	$0	$0
RYAN PARENT	DIRECTOR	1.00	Director	$0	$0	$0
JOSEPH BARTOZZI ESQ	DIRECTOR	1.00	Director	$0	$0	$0
J RICHARD LEE	DIRECTOR	1.00	Director	$0	$0	$0
WILLIAM FEENEY	DIRECTOR	1.00	Director	$0	$0	$0

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
2024	$43,358,196	$40,700,591	$57,163,699	$2,657,605
2024	$43,957,048	$40,600,629	$57,163,699	$3,356,419
2023	$40,753,260	$36,286,755	$52,102,686	$4,466,505
2022	$38,129,543	$31,982,956	$47,400,387	$6,146,587
2021	$37,266,468	$29,379,874	$27,252,454	$7,886,594
2020	$23,560,582	$25,349,487	$22,710,651	$-1,788,905
2019	$27,626,287	$27,802,758	$21,350,322	$-176,471
2018	$27,025,097	$24,519,576	$21,046,301	$2,505,521

GOODWILL INDUSTRIES OF SOUTHERN NEW ENGLAND