GOODWILL INDUSTRIES OF CENTRAL MIC… - Form 990 Financial Data

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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

1953

Legal Domicile

Principal Officer

KENNETH BAUER

Phone

2697886500

Tax Period

2023-01-01 to 2023-12-31

GOODWILL INDUSTRIES OF CENTRAL MICHIGAN'S HEARTLAND INC, founded in 1953, is a mid-sized nonprofit in the Employment sector that reported $29.7M in total revenue in fiscal year 2023. Expenses of $25.5M left a modest 14% surplus.

Mission

CHANGING LIVES THROUGH THE POWER OF WORK.

Program Service Accomplishments

Program 1

Expenses: $21,781,327 Revenue: $19,930,599

RETAIL SALE OF GOODS DONATED BY THE GENERAL PUBLIC. GOODWILL INDUSTRIES OF CENTRAL MICHIGAN'S HEARTLAND OPERATED 13 RETAIL STORES THROUGHOUT THE CENTRAL MICHIGAN AREA. THE RETAIL STORES PROVIDE...

RETAIL SALE OF GOODS DONATED BY THE GENERAL PUBLIC. GOODWILL INDUSTRIES OF CENTRAL MICHIGAN'S HEARTLAND OPERATED 13 RETAIL STORES THROUGHOUT THE CENTRAL MICHIGAN AREA. THE RETAIL STORES PROVIDE EXTENSIVE HARD SKILLS AND SOFT SKILLS TRAINING FOR INDIVIDUALS TO HELP THEM PREPARE FOR OTHER EMPLOYMENT OPPORTUNITIES, AS WELL AS PROVIDE EMPLOYMENT FOR INDIVIDUALS WITH VOCATIONAL AND OTHER BARRIERS TO COMPETITIVE EMPLOYMENT.

Program 2

Expenses: $1,058,612 Revenue: $8,402

VOCATIONAL SERVICES- WORKFORCE DEVELOPMENT. GOODWILL INDUSTRIES OF CENTRAL MICHIGAN'S HEARTLAND WORKS WITH GOVERNMENTAL AGENCIES AND AREA BUSINESSES TO PROVIDE TRAINING, JOB COACHING, VOCATIONAL, AND OTHER SERVICES ASSISTING INDIVIDUALS WITH BARRIERS TO COMPETITIVE EMPLOYMENT TO INCREASE THEIR JOB SKILLS AND OBTAIN EMPLOYMENT. SEE THE DESCRIPTION OF OUR MISSION FOR A EXAMPLES OF SPECIFIC PROGRAMS.

Program 3

Expenses: $673,601 Revenue: $682,552

CONTRACT SERVICES- GOODWILL INDUSTRIES OF CENTRAL MICHIGAN'S HEARTLAND CONTRACTS WITH AREA BUSINESSES AND MANUFACTURERS TO GENERATE BASIC LIGHT ASSEMBLY AND PACKAGING SERVICES WHILE PROVIDING...

CONTRACT SERVICES- GOODWILL INDUSTRIES OF CENTRAL MICHIGAN'S HEARTLAND CONTRACTS WITH AREA BUSINESSES AND MANUFACTURERS TO GENERATE BASIC LIGHT ASSEMBLY AND PACKAGING SERVICES WHILE PROVIDING MANUFACTURING SKILLS TRAINING AND EMPLOYMENT OPPORTUNITIES FOR INDIVIDUALS WITH BARRIERS TO COMPETITIVE EMPLOYMENT.

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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 (2023)

Revenue Breakdown

Contributions & Grants $7,731,432

Program Service Revenue $20,621,553

Investment Income $1,170,251

Other Revenue $143,656

TOTAL REVENUE $29,666,892

Expense Breakdown

Grants Paid $96,287

Salaries & Benefits $11,640,306

Fundraising Expenses $0

Program Expenses $23,513,540

Other Expenses $13,783,169

TOTAL EXPENSES $25,519,762

Year-over-Year Comparison

	2023	2022	Change
Revenue	$29,666,892	$29,555,317	+0.0%
Expenses	$25,519,762	$22,490,358	+0.1%
Net Income	$4,147,130	$7,064,959	-0.4%

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

949

Volunteers

366

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

$457,968

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRIAN FISH	CHAIRPERSON	1.00	Officer Director	$0	$0	$0
SUSAN BURDICK	SECRETARY	1.00	Officer Director	$0	$0	$0
CHUCK STALLARD	TREASURER	1.00	Officer Director	$0	$0	$0
PAT GALLAGHER	DIRECTOR	1.00	Director	$0	$0	$0
JASON BOMIA	DIRECTOR	1.00	Director	$0	$0	$0
MALCOLM SATTERFIELD	DIRECTOR	1.00	Director	$0	$0	$0
MICKEY BRUTSCHE	DIRECTOR	1.00	Director	$0	$0	$0
KENNETH BAUER	PRESIDENT/CEO	40.00	Officer	$274,340	$22,925	$297,265
WILLIAM BROEDER	SR VP FINANCE/CFO	40.00	Officer	$148,610	$12,093	$160,703
MARK PETERS	VP OF RETAIL SERVICES	40.00	Highest	$133,475	$19,084	$152,559
PRESTON HICKS	VP OF WORKFORCE DEVELOPMENT	40.00	Highest	$111,438	$10,686	$122,124

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	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$29,666,892	$25,519,762	$49,001,491	$4,147,130
2022	$29,555,317	$22,490,358	$44,710,785	$7,064,959
2021	$28,066,563	$21,484,527	$34,739,844	$6,582,036
2020	$19,118,696	$18,941,126	$31,145,357	$177,570
2019	$22,851,815	$20,709,147	$28,839,853	$2,142,668
2018	$21,631,300	$19,543,683	$25,981,289	$2,087,617

GOODWILL INDUSTRIES OF CENTRAL MICHIGAN'S HEARTLAND INC