Goodwill Industries of Middle TN Inc (EIN 620599413) - 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

1958

Legal Domicile

Phone

6157424151

Tax Period

2024-01-01 to 2024-12-31

Goodwill Industries of Middle TN Inc, founded in 1958, is a major nonprofit in the Employment sector that reported $111.8M in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $103.5M left a modest 7% surplus.

Mission

CHANGING LIVES THROUGH EDUCATION, TRAINING AND EMPLOYMENT

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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 $62,937,707

Program Service Revenue $46,714,916

Investment Income $1,336,141

Other Revenue $787,940

TOTAL REVENUE $111,776,704

Expense Breakdown

Grants Paid $15,069,960

Salaries & Benefits $60,235,773

Fundraising Expenses $534,752

Program Expenses $92,116,375

Other Expenses $28,116,787

TOTAL EXPENSES $103,475,936

Year-over-Year Comparison

	2024	2023	Change
Revenue	$111,776,704	$100,342,138	+0.1%
Expenses	$103,475,936	$152,824,498	-0.3%
Net Income	$8,300,768	$-52,482,360	-1.2%

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

2715

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

$1,242,982

Total Directors

Key Employees

$201,386

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRYAN BEAN	PAST BOARD CHAIR	2.0	Officer Director	$0	$0	$0
CHRISTOPHER DUNN	LEGAL COUNSEL	1.0	Officer Director	$0	$0	$0
JEFF YOUNG	VICE CHAIR	1.0	Officer Director	$0	$0	$0
KEVIN MITCHELL	TREASURER	0.5	Officer Director	$0	$0	$0
MICHAEL MADDEN	BOARD CHAIR	2.0	Officer Director	$0	$0	$0
PHILLIP MCGOWAN	SECRETARY	1.0	Officer Director	$0	$0	$0
BETH DUFFIELD	DIRECTOR	0.5	Director	$0	$0	$0
CANDACE MCQUEEN	DIRECTOR	0.5	Director	$0	$0	$0
CHRISTINA OAKELEY	DIRECTOR	0.5	Director	$0	$0	$0
CLAY TETER	DIRECTOR	0.5	Director	$0	$0	$0
D SCOTT TURNER	DIRECTOR	0.5	Director	$0	$0	$0
EMILY CUMMINGS	DIRECTOR	0.5	Director	$0	$0	$0
GABRIELA MORAN	DIRECTOR	0.5	Director	$0	$0	$0
JOHN CHOBANIAN	DIRECTOR	0.5	Director	$0	$0	$0
KEITH LAMPKIN	DIRECTOR	0.5	Director	$0	$0	$0
RICHARD EWING	DIRECTOR	0.5	Director	$0	$0	$0
ROB IVY	DIRECTOR	0.5	Director	$0	$0	$0
ROB MASSIE	DIRECTOR	0.5	Director	$0	$0	$0
ROY JORDAN	DIRECTOR	0.5	Director	$0	$0	$0
RYAN JOLLEY	DIRECTOR	0.5	Director	$0	$0	$0
SHANE DOUGLAS	DIRECTOR	0.5	Director	$0	$0	$0
TOM LAMPE	DIRECTOR	0.5	Director	$0	$0	$0
CHRISTINE SKOLD	CFO	39.0	Officer	$255,861	$12,439	$268,300
CYNTHIA VARNER	CHIEF MISSION OFFICER	40.0	Officer	$243,812	$3,962	$247,774
LEISA WAMSLEY	CHIEF OPERATIONS OFFICER	40.0	Officer	$249,818	$18,217	$268,035
MATTHEW BOURLAKAS	PRESIDENT & CEO	40.0	Officer	$435,263	$23,610	$458,873
DEQA ELMI	VP/DONATED GOODS	40.0	Key Emp	$191,306	$10,080	$201,386
BETH ALEXANDER	VP DEVELOPMENT	40.0	Highest	$158,593	$4,131	$162,724
ED O'KELLEY	VP/INFO TECHNOLOGY	40.0	Highest	$185,838	$11,010	$196,848
GEORGE CARLSON	VP/MISSION ADVANCEMENT	40.0	Highest	$171,235	$9,533	$180,768
MICHAEL MOTT	VP/HUMAN RESOURCES	40.0	Highest	$166,747	$11,770	$178,517
WENDY WHITE	VP/FINANCE AND ACCOUNTING	40.0	Highest	$178,248	$9,255	$187,503

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	$111,776,704	$103,475,936	$119,474,506	$8,300,768
2023	$100,342,138	$152,824,498	$116,068,000	$-52,482,360
2022	$87,208,911	$68,753,866	$162,218,450	$18,455,045
2021	$78,995,552	$61,510,630	$119,782,288	$17,484,922
2020	$69,498,158	$54,142,202	$102,348,568	$15,355,956
2019	$64,258,779	$60,600,955	$84,192,904	$3,657,824
2018	$93,413,956	$65,298,095	$80,151,622	$28,115,861

Goodwill Industries of Middle TN Inc