GOODWILL INDUSTRIES OF NORTHERN MICHIGAN INC (EIN 381976268) - 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

1972

Legal Domicile

Principal Officer

DAN BURON

Phone

2319957709

Tax Period

2024-01-01 to 2024-12-31

GOODWILL INDUSTRIES OF NORTHERN MICHIGAN INC, founded in 1972, is a mid-sized nonprofit in the Employment sector that reported $25.8M in total revenue in fiscal year 2024. Revenue surged 306% from the prior year, signaling strong growth momentum. Expenses of $24.1M left a modest 6% surplus.

Mission

WE BRING FOOD TO NEIGHBORS, HELP VULNERABLE PEOPLE FIND HOME, AND PROVIDE EMPOWERING EMPLOYMENT THROUGH OUR COMMUNITY-SUPPORTED SOCIAL ENTERPRISE AND COLLABORATIVE PARTNERSHIPS.

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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 $10,635,466

Program Service Revenue $14,839,787

Investment Income $288,823

Other Revenue $0

TOTAL REVENUE $25,764,076

Expense Breakdown

Grants Paid $283,214

Salaries & Benefits $10,207,150

Fundraising Expenses $414,232

Program Expenses $21,313,946

Other Expenses $13,650,103

TOTAL EXPENSES $24,140,467

Year-over-Year Comparison

	2024	2023	Change
Revenue	$25,764,076	$6,342,648	+3.1%
Expenses	$24,140,467	$5,397,548	+3.5%
Net Income	$1,623,609	$945,100	+0.7%

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

427

Volunteers

227

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

$463,847

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MIKE BROWN	CHAIRPERSON	0.20	Officer Director	$0	$0	$0
CHRISTIE MINERVINI	VICE CHAIRPERSON	0.20	Officer Director	$0	$0	$0
KELLY MILLER	TREASURER	0.20	Officer Director	$0	$0	$0
JODY N TRIETCH	SECRETARY	0.20	Officer Director	$0	$0	$0
KATE REDMAN	DIRECTOR	0.20	Director	$0	$0	$0
LEZLIE GARVIN	DIRECTOR	0.20	Director	$0	$0	$0
PAUL HEIDBREDER	DIRECTOR	0.20	Director	$0	$0	$0
ANDREW KOHLMANN	DIRECTOR	0.20	Director	$0	$0	$0
TERRI LACROIX-KELTY	DIRECTOR	0.20	Director	$0	$0	$0
NICK NISSLEY	DIRECTOR	0.20	Director	$0	$0	$0
DAWN SHIELDS	DIRECTOR	0.20	Director	$0	$0	$0
SARA HARDING	DIRECTOR BEGIN 8/24	0.20	Director	$0	$0	$0
LORI VANANTWERP	DIRECTOR BEGIN 10/24	0.20	Director	$0	$0	$0
DAN BURON	EXECUTIVE DIRECTOR	30.00	Officer	$164,736	$38,280	$203,016
KYLA MCMILLION	CEO	30.00	Officer	$113,441	$19,162	$132,603
ROBERT RANDALL	COO THRU 7/20/24	30.00	Officer	$69,888	$16,821	$86,709
GAIL TAYLOR	COO BEGIN 9/23/24	30.00	Officer	$35,520	$5,999	$41,519

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	$25,764,076	$24,140,467	$38,655,651	$1,623,609
2023	$20,250,193	$20,461,703	$28,887,034	$-211,510
2023	$6,342,648	$5,397,548	$35,330,897	$945,100
2022	$21,849,253	$19,875,669	$26,340,751	$1,973,584
2021	$24,892,827	$17,533,943	$25,405,377	$7,358,884
2020	$16,090,181	$14,784,692	$19,450,277	$1,305,489
2019	$15,585,730	$14,967,663	$15,705,069	$618,067
2018	$14,120,312	$13,328,163	$16,218,761	$792,149

GOODWILL INDUSTRIES OF NORTHERN MICHIGAN INC