GOODWILL INDUSTRIES OF SOUTHEASTER… - 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

1960

Legal Domicile

Principal Officer

CHRISTAL ALBIG

Phone

5172632135

Tax Period

2024-01-01 to 2024-12-31

GOODWILL INDUSTRIES OF SOUTHEASTERN MICHIGAN INC, founded in 1960, is a mid-sized nonprofit that reported $11.4M in total revenue in fiscal year 2024. Expenses of $10.9M left a modest 4% surplus.

Mission

GOODWILL PROVIDES EXCEPTIONAL OPPORTUNITIES FOR PEOPLE FACING EMPLOYMENT BARRIERS.

Program Service Accomplishments

Program 1

Expenses: $6,457,142 Revenue: $6,460,997

THE RETAIL PROGRAM PROVIDES VOCATIONAL AND TRAINING OPPORTUNITIES IN RETAIL AND ON-LINE ACTIVITIES THROUGH THE PROCESSING AND SALE OF CLOTHING AND HOUSEHOLD GOODS CONTRIBUTED BY THE PUBLIC. THE...

THE RETAIL PROGRAM PROVIDES VOCATIONAL AND TRAINING OPPORTUNITIES IN RETAIL AND ON-LINE ACTIVITIES THROUGH THE PROCESSING AND SALE OF CLOTHING AND HOUSEHOLD GOODS CONTRIBUTED BY THE PUBLIC. THE DONATIONS ARE SOLD IN SIX DIFFERENT RETAIL STORES IN SOUTHEASTERN MICHIGAN AS WELL AS ONLINE. TEXTILES, WARES AND BOOKS NOT SOLD IN THE STORES ARE SOLD AS SALVAGE. THE REVENUE FROM THE SALE OF THESE GOODS HELP SUPPORT OUR MISSION.

Program 2

Expenses: $2,861,677 Revenue: $2,451,151

WORKFORCE DEVELOPMENT PROVIDES TRAINING, EMPLOYMENT, PLACEMENT AND POST-EMPLOYMENT SUPPORT TO INDIVIDUALS WITH DISABILITIES OR OTHER BARRIERS TO EMPLOYMENT SO THAT THEY CAN FIND AND KEEP JOBS...

WORKFORCE DEVELOPMENT PROVIDES TRAINING, EMPLOYMENT, PLACEMENT AND POST-EMPLOYMENT SUPPORT TO INDIVIDUALS WITH DISABILITIES OR OTHER BARRIERS TO EMPLOYMENT SO THAT THEY CAN FIND AND KEEP JOBS. GOODWILL WORKS WITH PRISONER RE-ENTRY (DEPENDING ON CRIME COMMITTED), HOMELESS AND ADJUDICATED YOUTH AND PEOPLE WITH DISABILITILIES. SERVICES ARE ALSO PROVIDED TO INDIVIDUALS WITH SIGNIFICANT DISABILITIES SUCH AS DEVELOPMENTAL DISABILITIES AND AUTISM TO ENABLE THEM TO ENJOY COMMUNITY INTEGRATION, SOCIALIZATION AND NON VOCATIONAL SERVICES.

Program 3

Expenses: $389,246 Revenue: $363,888

BUSINESS SOLUTIONS OFFERS SECURE SHREDDING SOLUTIONS TO LOCAL AREA BUSINESSES.

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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 $2,034,809

Program Service Revenue $2,815,039

Investment Income $96,525

Other Revenue $6,466,700

TOTAL REVENUE $11,413,073

Expense Breakdown

Grants Paid $0

Salaries & Benefits $7,002,673

Fundraising Expenses $0

Program Expenses $9,708,065

Other Expenses $3,917,571

TOTAL EXPENSES $10,920,244

Year-over-Year Comparison

	2024	2023	Change
Revenue	$11,413,073	$10,695,013	+0.1%
Expenses	$10,920,244	$9,898,930	+0.1%
Net Income	$492,829	$796,083	-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

499

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

$188,372

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
FRANK HRIBAR	CHAIRMAN	0.50	Officer Director	$0	$0	$0
CHRIS CLARKE	TREASURER	0.50	Officer Director	$0	$0	$0
MICHELE RICE	SECRETARY	0.50	Officer Director	$0	$0	$0
JENNY ENGLE	BOARD MEMBER	0.50	Director	$0	$0	$0
JOHN DREWS	BOARD MEMBER	0.50	Director	$0	$0	$0
CHRIS BUDNIK	BOARD MEMBER	0.50	Director	$0	$0	$0
JOSH TEJKL	BOARD MEMBER	0.50	Director	$0	$0	$0
ROB HEMMIG	BOARD MEMBER	0.50	Director	$0	$0	$0
JAKE WRIGHT	BOARD MEMBER	0.50	Director	$0	$0	$0
GIDGET ROWE	BOARD MEMBER	0.50	Director	$0	$0	$0
KEVIN FRY	BOARD MEMBER	0.50	Director	$0	$0	$0
TADD BROOKET	BOARD MEMBER	0.50	Director	$0	$0	$0
CHRISTAL ALBIG	PRESIDENT & CEO	40.00	Officer	$95,664	$444	$96,108
KEITH CHAPMAN	PRESIDENT & CEO THRU 6/2024	40.00	Officer	$88,004	$4,260	$92,264

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	$11,413,073	$10,920,244	$16,841,273	$492,829
2023	$10,695,013	$9,898,930	$15,814,577	$796,083
2022	$8,793,281	$7,907,385	$12,103,362	$885,896
2021	$10,798,773	$8,251,884	$5,427,770	$2,546,889
2020	$5,368,937	$5,511,295	$3,530,263	$-142,358
2019	$7,167,795	$7,179,605	$2,876,715	$-11,810
2018	$6,961,728	$6,992,639	$3,095,568	$-30,911

GOODWILL INDUSTRIES OF SOUTHEASTERN MICHIGAN INC