HAGERSTOWN GOODWILL INDUSTRIES INC (EIN 520660403) - 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

1955

Legal Domicile

Principal Officer

DAVID SHUSTER

Phone

3017337330

Tax Period

2023-01-01 to 2023-12-31

HAGERSTOWN GOODWILL INDUSTRIES INC, founded in 1955, is a mid-sized nonprofit in the Employment sector that reported $11.2M in total revenue in fiscal year 2023. Expenses of $12.8M exceeded revenue, resulting in a 14% operating deficit.

Mission

HORIZON GOODWILL INDUSTRIES HELPS INDIVIDUALS REALIZE AND ACHIEVE THEIR FULLEST POTENTIAL THROUGH THE DIGNITY AND POWER OF WORK. WITH OPERATIONS, PROGRAMS, AND SERVICES IN 17 COUNTIES ACROSS MARYLAND, PENNSYLVANIA, VIRGINIA, WEST VIRGINIA, WE FOCUS ON HUMAN DEVELOPMENT THAT EXPANDS THE RICHNESS OF HUMAN LIFE AND THAT IS CENTERED ON PEOPLE, THEIR OPPORTUNITIES AND CHOICES. IN THE LAST YEAR, MORE THAN 4,000 INDIVIDUALS BENEFITED FROM HORIZON GOODWILL'S MISSION OF "REMOVING BARRIERS AND CREATING OPPORTUNITIES", IMPROVING THEIR JOB SKILLS, EMPLOYABILITY, EDUCATION AND ECONOMIC SELF-SUFFICIENCY.

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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 $2,425,735

Program Service Revenue $8,592,758

Investment Income $23,652

Other Revenue $185,740

TOTAL REVENUE $11,227,885

Expense Breakdown

Grants Paid $491,258

Salaries & Benefits $8,486,669

Fundraising Expenses $0

Program Expenses $9,871,041

Other Expenses $3,851,025

TOTAL EXPENSES $12,828,952

Year-over-Year Comparison

	2023	2022	Change
Revenue	$11,227,885	$11,285,110	0.0%
Expenses	$12,828,952	$11,699,930	+0.1%
Net Income	$-1,601,067	$-414,820	+2.9%

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

199

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

$344,606

Total Directors

$202,560

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID SHUSTER	EXECUTIVE DI	40.00	Officer Director	$194,520	$8,040	$202,560
SHARON AHRENS	CHIEF BUSINE	40.00	Officer	$135,066	$6,980	$142,046
SILA ALEGRET-BARTEL	DIRECTOR	1.00	Director	$0	$0	$0
MIKE BARD	DIRECTOR	1.00	Director	$0	$0	$0
CHRIS BIBY	DIRECTOR	1.00	Director	$0	$0	$0
RON BOWERS	SECRETARY	2.00	Officer Director	$0	$0	$0
SUSAN GRIMES	DIRECTOR	1.00	Director	$0	$0	$0
DOLORES HARMON	DIRECTOR	1.00	Director	$0	$0	$0
HEATHER HURST	DIRECTOR	1.00	Director	$0	$0	$0
JOHN KROWKA	DIRECTOR	1.00	Director	$0	$0	$0
MARION MITCHELL	DIRECTOR	1.00	Director	$0	$0	$0
KRISTA MURR	DIRECTOR	1.00	Director	$0	$0	$0
BILL PROCTOR	DIRECTOR	1.00	Director	$0	$0	$0
JOSH REPAC	TREASURER	1.00	Director	$0	$0	$0
SARAH ROCK	VICE CHAIRPE	2.00	Officer Director	$0	$0	$0
DUSTIN WATSON	PAST CHAIRPE	2.00	Officer Director	$0	$0	$0
MICHAEL ZAMPELLI	CHAIRPERSON	2.00	Officer Director	$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	$11,227,885	$12,828,952	$19,486,819	$-1,601,067
2022	$11,285,110	$11,699,930	$19,481,724	$-414,820
2021	$13,438,642	$11,885,116	$19,941,303	$1,553,526
2020	$11,159,365	$11,615,877	$19,034,598	$-456,512
2019	$13,041,480	$13,045,834	$10,590,197	$-4,354
2018	$21,502,688	$22,325,713	$10,797,266	$-823,025

HAGERSTOWN GOODWILL INDUSTRIES INC