GOODSOURCE OF CENTRAL FLORIDA INC

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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

2013

Legal Domicile

Principal Officer

EDWARD J DURKEE

Phone

4078570659

Tax Period

2023-01-01 to 2023-12-31

GOODSOURCE OF CENTRAL FLORIDA INC, founded in 2013, is a small nonprofit in the Human Services sector that reported $352K in total revenue in fiscal year 2023. Expenses of $639K exceeded revenue, resulting in a 82% operating deficit.

Mission

TO ACQUIRE, OWN, AND BE THE LESSOR OF A RETAIL STORE AND DONATION CENTER THROUGH A NEW MARKET TAX CREDIT TO SPUR AND ENCOURAGE CAPITAL INVESTMENT AND BUSINESS OPERATIONS OF LOW-INCOME AND IMPOVERISHED COMMUNITIES IN THE UNITED STATES.

Program Service Accomplishments

Program 1

Expenses: $260,000 Revenue: $148,890

GOODSOURCE PURCHASED THE RETAIL STORE AND DONATION CENTER OF GOODWILL INDUSTRIES OF CENTRAL FLORIDA, INC. AS PART OF A NEW MARKETS TAX CREDIT PROGRAM. GOODSOURCE THEN LEASED THE PROPERTY BACK TO...

GOODSOURCE PURCHASED THE RETAIL STORE AND DONATION CENTER OF GOODWILL INDUSTRIES OF CENTRAL FLORIDA, INC. AS PART OF A NEW MARKETS TAX CREDIT PROGRAM. GOODSOURCE THEN LEASED THE PROPERTY BACK TO GOODWILL. THIS LEASE IS USED TO HELP SPUR AND ENCOURAGE CAPITAL INVESTMENT AND BUSINESS OPERATIONS OF LOW-INCOME AND IMPOVERISHED COMMUNITIES IN THE UNITED STATES.

Program 2

Revenue: $202,926

INTEREST INCOME RELATED TO THE BUILDING AND LAND LEASES THAT ARE USED TO SPUR AND ENCOURAGE CAPITAL INVESTMENT AND BUISNESS OPERATIONS OF LOW-INCOME AND IMPOVERISHED COMMUNITIES IN THE UNITED STATES.

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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 $0

Program Service Revenue $351,816

Investment Income $0

Other Revenue $0

TOTAL REVENUE $351,816

Expense Breakdown

Grants Paid $260,000

Salaries & Benefits $3,000

Fundraising Expenses $0

Program Expenses $260,000

Other Expenses $376,457

TOTAL EXPENSES $639,457

Year-over-Year Comparison

	2023	2022	Change
Revenue	$351,816	$355,631	0.0%
Expenses	$639,457	$560,246	+0.1%
Net Income	$-287,641	$-204,615	+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

N/A

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

$3,000

Total Directors

$1,500

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MAX BRITO	CHAIRMAN	1.00	Officer Director	$0	$0	$0
MICHAEL CLARY	VICE CHAIR	1.00	Officer Director	$0	$0	$0
JANA RICCI	SECRETARY	1.00	Officer Director	$0	$0	$0
DIDIER MENARD	DIRECTOR	1.00	Director	$0	$0	$0
LAURENCE HAMES	TREASURER	1.00	Officer Director	$0	$0	$0
EDWARD J DURKEE	PRESIDENT & CEO	5.00	Officer Director	$1,500	$0	$1,500
JON EICHELBERGER	DIRECTOR	1.00	Director	$0	$0	$0
CURTIS RAMSEY	VP ACCOUNTING	5.00	Officer	$1,500	$0	$1,500
MARIO FERNANDEZ	CFO	1.00	Officer	$0	$0	$0

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	No data	No data	No data	No data
2023	$351,816	$639,457	$9,068,837	$-287,641
2022	$355,631	$560,246	$9,230,377	$-204,615
2021	$350,476	$555,434	$9,355,391	$-204,958
2020	$960,286	$1,967	$6,659,449	$958,319