PALMETTO GOODWILL SERVICES

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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

1975

Legal Domicile

Principal Officer

JACKIE DRAWS

Phone

8435660072

Tax Period

2024-01-01 to 2024-12-31

PALMETTO GOODWILL SERVICES, founded in 1975, is a mid-sized nonprofit in the Employment sector that reported $18.8M in total revenue in fiscal year 2024. Expenses of $18.1M left a modest 4% surplus.

Mission

PALMETTO GOODWILL SERVICE'S (GOODWILL) MISSION IS CHANGING LIVES BY PROVIDING EQUITABLE ACCESS TO TRAINING, EDUCATION, AND EMPLOYMENT. GOODWILL ENRICHES THE LIVES OF PEOPLE WHILE PROVIDING QUALITY SERVICE TO CUSTOMERS. WORK AND TRAINING OPPORTUNITIES ARE PROVIDED THROUGH ACTUAL CONTRACT SERVICE WORK PERFORMED FOR GOVERNMENT ENTITIES AND LOCAL BUSINESSES. CUSTOMERS RELY ON GOODWILL TO PROVIDE FOOD SERVICE, JANITORIAL, GROUNDSKEEPING AND MAILROOM SERVICES. WORK SKILLS ATTAINED THROUGH ABILITY ONE CONTRACT SITES HELP PEOPLE WITH DISABILITIES GAIN SKILLS AND BECOME MORE SELF-SUFFICIENT.

Program Service Accomplishments

Program 1

Expenses: $16,048,571 Revenue: $17,550,471

PALMETTO GOODWILL SERVICES (GOODWILL) CONTINUED CREATING EMPLOYMENT OPPORTUNITIES FOR INDIVIDUALS WHO ARE BLIND OR HAVE SIGNIFICANT DISABILITIES UNDER THE SOURCEAMERICA ABILITYONE PROGRAM WHICH HAS A CONGRESSIONAL MANDATE THAT 75% OF DIRECT LABOR HOURS ARE PERFORMED BY THIS POPULATION OF EMPLOYEES. GOODWILL REPORTED DIRECT LABOR HOURS OF 83% WHICH DEMONSTRATES THE COMMITMENT TO INCREASING TRAINING OPPORTUNITIES ABOVE THE FEDERAL MANDATE. GOODWILL ALSO REPORTED FIVE CONTRACT SITES WHERE 100% OF THE DIRECT LABOR HOURS WERE WORKED BY INDIVIDUALS WHO ARE BLIND OR HAVE SIGNIFICANT DISABILITIES. WAGES ARE AT OR ABOVE $17.20/HOUR FOR ALL INDIVIDUALS WORKING AT THESE CONTRACT SITES. GOODWILL EMPLOYS 266 INDIVIDUALS WHO ARE BLIND OR HAVE SIGNIFICANT DISABILITIES PERFORMING SERVICES IN FEDERAL BUILDINGS AND MILITARY INSTALLATIONS IN SOUTH CAROLINA AND VIRGINIA. GOODWILL IS RECOGNIZED AS THE LARGEST (NON-PROFIT ORGANIZATION) EMPLOYER OF INDIVIDUALS WHO ARE BLIND OR HAVE SIGNIFICANT DISABILITIES IN THE STATE OF SOUTH CAROLINA. IN 2024, GOODWILL CREATED 23 NEW EMPLOYMENT OPPORTUNITIES FOR INDIVIDUALS WITH DISABILITIES.

Program 2

Expenses: $371,199 Revenue: $503,451

PALMETTO GOODWILL SERVICES RENEWED THREE 5-YEAR CONTRACTS IN 2024 WITH A TOTAL VALUE OF $2.4 MILLION; ONE MAILROOM, ONE JANITORIAL AND ONE GROUNDS MAINTENANCE CONTRACT. THE MAILROOM SERVICE CONTRACT HAS BEEN IN PLACE SINCE 2017. THE JANITORIAL CONTRACT HAS BEEN IN PLACE SINCE 2021. THE GROUNDS MAINTENANCE CONTRACT HAS BEEN IN PLACE SINCE 2018. THESE THREE CONTRACTS GIVE THE OPPORTUNITY FOR 11 PEOPLE TO HAVE GAINFUL EMPLOYMENT.

Program 3

Expenses: $890,256 Revenue: $125,369

PALMETTO GOODWILL SERVICES (GOODWILL) RECEIVES SEVERAL DIFFERENT RATINGS AND CERTIFICATIONS FROM WIDELY KNOWN SYSTEMS AND ORGANIZATIONS. DURING THE FALL OF 2024, GOODWILL SWITCHED TO A NEW QUALITY...

PALMETTO GOODWILL SERVICES (GOODWILL) RECEIVES SEVERAL DIFFERENT RATINGS AND CERTIFICATIONS FROM WIDELY KNOWN SYSTEMS AND ORGANIZATIONS. DURING THE FALL OF 2024, GOODWILL SWITCHED TO A NEW QUALITY CONTROL SYSTEM CALLED VECTOR AND IMPROVED THEIR QUALITY ASSURANCE SYSTEM PROGRAM FOR ALL CONTRACT SITES. THESE IMPROVEMENTS HAVE LED AND WILL CONTINUE TO LEAD TO HIGHER CPARS (CONTRACTOR PERFORMANCE ASSESSMENT REPORTING SYSTEM) RATINGS. GOODWILL RECEIVED 4 SATISFACTORY AND 4 VERY GOOD RATINGS UNDER CPARS SINCE MAKING THOSE IMPROVEMENTS. CPARS IS A U.S. GOVERNMENT SYSTEM THAT COLLECTS AND REPORTS ON THE PERFORMANCE OF FEDERAL CONTRACTORS ACROSS DIFFERENT CATEGORIES, SUCH AS QUALITY, SCHEDULE, COST CONTROL, MANAGEMENT, AND REGULATORY COMPLIANCE. CPARS RATINGS RANGE FROM EXCEPTIONAL TO UNSATISFACTORY. PALMETTO GOODWILL SERVICES HAS A REQUIREMENT AT THEIR LARGEST FULL FOOD SERVICE CONTRACT TO HAVE MEMBERS OF MANAGEMENT AND SUPERVISORS BE SERVSAFE CERTIFIED. GOODWILL HAS FOUR TEAM MEMBERS INSTRUCTOR/PROCTOR CERTIFIED TO TEACH SERVSAFE AND TO PROCTOR THE EXAM. IN 2024, GOODWILL SERVSAFE CERTIFIED A TOTAL OF 32 TEAM MEMBERS.

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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 $0

Program Service Revenue $18,179,291

Investment Income $658,537

Other Revenue $0

TOTAL REVENUE $18,837,828

Expense Breakdown

Grants Paid $0

Salaries & Benefits $14,410,795

Fundraising Expenses $0

Program Expenses $17,310,026

Other Expenses $3,668,479

TOTAL EXPENSES $18,079,274

Year-over-Year Comparison

	2024	2023	Change
Revenue	$18,837,828	$19,159,128	0.0%
Expenses	$18,079,274	$18,371,877	0.0%
Net Income	$758,554	$787,251	0.0%

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

392

Volunteers

592

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

$1,701,160

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DARRYL BROWN	CHAIR	1.00	Officer Director	$0	$0	$0
ROB PHILLIPS	TREASURER	1.00	Officer Director	$0	$0	$0
STACY COZAD	SECRETARY	1.00	Officer Director	$0	$0	$0
JACQUELINE DRAWS	CHIEF FINANCIAL OFFICER	12.00	Officer	$73,931	$43,945	$290,381
TANYA WELDON	HUMAN RESOURCES OFFICER	8.00	Officer	$31,639	$33,771	$191,966
ELLIOT SMALLEY EASTERLING	CHIEF MISSION/MARKETING OFFICER	20.00	Officer	$114,712	$36,756	$266,180
PAMELA RICHARDSON	CHIEF PEOPLE OFFICER	12.00	Officer	$57,933	$48,474	$241,585
DEBORAH REYNOLDS	VP MARKETING/COMMUNICATION	12.00	Officer	$39,868	$34,916	$167,809
BRIAN ITZKOWITZ	PRESIDENT CEO	20.00	Officer	$247,780	$47,680	$543,239
JASON BARIL	VP DONATED GOODS	10.00	Highest	$47,999	$31,312	$223,309
MARY GILMER	VP MISSION SERVICES	10.00	Highest	$43,234	$41,764	$214,698
REGINALD HUGHES	VP COMMERCIAL OPERATIONS	30.00	Highest	$162,010	$48,473	$264,486

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	$18,837,828	$18,079,274	$21,293,981	$758,554
2023	$19,159,128	$18,371,877	$18,638,468	$787,251
2022	$18,157,283	$17,433,706	$15,989,652	$723,577
2021	$17,429,442	$16,187,345	$13,601,818	$1,242,097
2020	$16,594,100	$14,853,734	$11,692,714	$1,740,366
2019	$16,353,107	$15,791,810	$10,625,881	$561,297
2018	$15,667,333	$14,358,793	$8,359,831	$1,308,540