GOODWILL INDUSTRIES OF WEST MICHIGAN INC (EIN 381357148) - 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

1950

Legal Domicile

Principal Officer

JEANETTE HOYER

Phone

2317227871

Tax Period

2024-01-01 to 2024-12-31

GOODWILL INDUSTRIES OF WEST MICHIGAN INC, founded in 1950, is a mid-sized nonprofit that reported $30.3M in total revenue in fiscal year 2024. Revenue decreased 8% compared to the prior year.

Mission

GOODWILL INDUSTRIES OF WEST MICHIGAN'S MISSION IS CHANGING LIVES THROUGH THE POWER OF WORK.

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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 $6,902,236

Program Service Revenue $22,483,712

Investment Income $750,630

Other Revenue $195,305

TOTAL REVENUE $30,331,883

Expense Breakdown

Grants Paid $0

Salaries & Benefits $14,732,144

Fundraising Expenses $27,085

Program Expenses $26,298,431

Other Expenses $15,379,541

TOTAL EXPENSES $30,111,685

Year-over-Year Comparison

	2024	2023	Change
Revenue	$30,331,883	$32,990,341	-0.1%
Expenses	$30,111,685	$28,044,955	+0.1%
Net Income	$220,198	$4,945,386	-1.0%

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

682

Volunteers

162

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

$404,132

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DIANA OSBORN	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
ALAN STEINMAN	FIRST VICE CHAIR	1.00	Officer Director	$0	$0	$0
NANCY MILLER	SECOND VICE CHAIR	1.00	Officer Director	$0	$0	$0
BRUCE SPOELMAN	TREASURER	1.00	Officer Director	$0	$0	$0
JANELLE MAIR	SECRETARY	1.00	Officer Director	$0	$0	$0
HAROLD BURRELL	BOARD MEMBER	1.00	Director	$0	$0	$0
CLINTON TODD	BOARD MEMBER	1.00	Director	$0	$0	$0
KASLENA HUSSEY	BOARD MEMBER	1.00	Director	$0	$0	$0
JOHN JOHNSTON	BOARD MEMBER	1.00	Director	$0	$0	$0
PAUL GILBERT	BOARD MEMBER	1.00	Director	$0	$0	$0
TODD BRAMER	BOARD MEMBER	1.00	Director	$0	$0	$0
DAVID TIMMER	BOARD MEMBER	1.00	Director	$0	$0	$0
CYNDI LANGLOIS	BOARD MEMBER	1.00	Director	$0	$0	$0
GEORGE JOHNSON	BOARD MEMBER	1.00	Director	$0	$0	$0
JEANETTE HOYER	PRESIDENT & CEO	35.00	Officer	$195,448	$39,015	$234,463
RICK SNELLENBERGER	CHIEF FINANCIAL OFFICER	40.00	Officer	$128,134	$41,535	$169,669
KRISTIN GARRIS	CWO	40.00	Highest	$135,662	$13,250	$148,912
NICHOLAS CARLSON	SUSTAINABILITY DIRECTOR	40.00	Highest	$113,143	$39,546	$152,689
STEVE JACKSON	RETAIL OPERATION DIRECTOR	40.00	Highest	$108,014	$32,751	$140,765
RYAN RISLEY	OPERATIONS DIRECTOR	40.00	Highest	$109,519	$10,676	$120,195

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	$30,331,883	$30,111,685	$44,906,112	$220,198
2023	$32,990,341	$28,044,955	$46,076,795	$4,945,386
2022	$25,744,875	$24,771,146	$45,060,190	$973,729
2021	$24,966,806	$23,150,135	$34,346,585	$1,816,671
2020	$20,135,082	$22,318,280	$32,014,054	$-2,183,198
2019	$23,157,009	$22,491,447	$33,534,219	$665,562
2018	$22,428,554	$21,229,641	$31,128,976	$1,198,913

GOODWILL INDUSTRIES OF WEST MICHIGAN INC