GOODWILL MANUFACTURING INC (EIN 352531359) - 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

2015

Legal Domicile

Principal Officer

JACQUELINE HALLBERG

Phone

4148474200

Tax Period

2024-01-01 to 2024-12-31

GOODWILL MANUFACTURING INC, founded in 2015, is a community nonprofit in the Employment sector that reported $3.0M in total revenue in fiscal year 2024. Revenue fell 39% from the prior year — a significant decline worth monitoring. Expenses of $7.3M exceeded revenue, resulting in a 144% operating deficit.

Mission

CONNECTING PEOPLE TO WORK. PREPARING PEOPLE FOR LIFE.

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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 $0

Program Service Revenue $2,860,017

Investment Income $148,265

Other Revenue $148

TOTAL REVENUE $3,008,430

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,303,946

Fundraising Expenses $0

Program Expenses $6,858,910

Other Expenses $3,027,349

TOTAL EXPENSES $7,331,295

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,008,430	$4,915,014	-0.4%
Expenses	$7,331,295	$10,158,863	-0.3%
Net Income	$-4,322,865	$-5,243,849	-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

113

Volunteers

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

$1,894,295

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT KLUG	CHAIR	1.00	Officer Director	$0	$0	$0
MICHELLE GREENE	DIR. VICE CHAIR	1.00	Officer Director	$0	$0	$0
TIMOTHY MATTKE	TREASURER	1.00	Officer Director	$0	$0	$0
THOMAS SAVAGE	SECRETARY	1.00	Officer Director	$0	$0	$0
IKE UMUNNAH	DIRECTOR	1.00	Officer Director	$0	$0	$0
JACQUELINE HALLBERG	PRESIDENT & CEO	2.00	Officer	$0	$145,372	$908,671
JEFFREY DOCALAVICH	ASST. TREASURER	2.00	Officer	$0	$106,707	$590,599
BASIL BUCHKO	ASST. SECRETARY - THRU 12/24	2.00	Officer	$0	$51,090	$395,025

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	$3,008,430	$7,331,295	$571,557	$-4,322,865
2023	$4,915,014	$10,158,863	$2,834,162	$-5,243,849
2022	$3,137,995	$7,185,085	$2,715,300	$-4,047,090
2021	$2,579,295	$5,989,674	$3,795,340	$-3,410,379
2020	$2,770,416	$6,848,231	$11,912,944	$-4,077,815
2019	$7,442,876	$12,498,546	$15,867,991	$-5,055,670
2018	$4,707,425	$13,456,596	$11,672,381	$-8,749,171

GOODWILL MANUFACTURING INC