HEART OF TEXAS GOODWILL INDUSTRIES… - Form 990 Financial Data

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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

SHANNON WITTMER

Phone

2547537337

Tax Period

2024-01-01 to 2024-12-31

HEART OF TEXAS GOODWILL INDUSTRIES INC, founded in 1955, is a mid-sized nonprofit in the Employment sector that reported $26.2M in total revenue in fiscal year 2024. Revenue decreased 7% compared to the prior year. Expenses of $22.6M left a modest 14% surplus.

Mission

FOR OVER 66 YEARS, HEART OF TEXAS GOODWILL INDUSTRIES HAS BEEN COMMITTED TO CHANGING LIVES THROUGH THE POWER OF WORK. SINCE 1955, HEART OF TEXAS GOODWILL HAS GROWN INTO THE LEADING NON-PROFIT PROVIDER OF EMPLOYMENT READINESS SERVICES AND JOB TRAINING PROGRAMS THAT HELP PEOPLE WITH DISABILITIES AND DISADVANTAGING CONDITIONS REACH THEIR FULL POTENTIAL. HEART OF TEXAS GOODWILL COVERS A SERVICE TERRITORY OF 20 COUNTIES AND OPERATES TWELVE RETAIL STORES, TWO OUTLET CENTERS, AND AN ONLINE AUCTION MARKETPLACE, SHOPGOODWILL.COM. THE RETAIL BUSINESS NOT ONLY CREATES MORE THAN 370 JOBS FOR PEOPLE WITH BARRIERS TO EMPLOYMENT BUT IT ALSO GENERATES THE REVENUE THAT FUNDS THE EMPLOYMENT SERVICES AND SKILLS TRAINING PROGRAMS OFFERED TO THOUSANDS OF CENTRAL TEXANS EACH YEAR THROUGH GOODWILL'S MISSION SERVICES DEPARTMENT.

Program Service Accomplishments

Program 1

Expenses: $16,293,982 Revenue: $6,404,793

HEART OF TEXAS GOODWILL'S RETAIL OPERATIONS SERVES AS THE MECHANISM FOR THE ORGANIZATION TO HELP PEOPLE REACH THEIR FULL POTENTIAL THROUGH THE POWER OF WORK. GOODWILL ACCEPTS DONATED CLOTHING AND...

HEART OF TEXAS GOODWILL'S RETAIL OPERATIONS SERVES AS THE MECHANISM FOR THE ORGANIZATION TO HELP PEOPLE REACH THEIR FULL POTENTIAL THROUGH THE POWER OF WORK. GOODWILL ACCEPTS DONATED CLOTHING AND OTHER HOUSEHOLD GOODS WHICH ARE PROCESSED AND SOLD IN ONE OF ITS RETAIL STORES. THIS PROCESS CREATES JOBS IN THE COMMUNITY FOR PEOPLE WITH BARRIERS TO EMPLOYMENT AS WELL AS ON-THE-JOB TRAINING OPPORTUNITIES FOR PEOPLE WITH DISABILITIES OR INDIVIDUALS NEEDING HELP GETTING ACCLIMATED BACK INTO THE WORKFORCE. THE REVENUE GENERATED FROM THE SALE OF GOODS SOLD IN GOODWILL RETAIL STORES IS THEN USED TO FUND COMMUNITY-BASED EMPLOYMENT SERVICES, SKILLS TRAINING PROGRAMS, AND JOB PLACEMENT ASSISTANCE IN ONE OF FIVE JOB CONNECTION CENTERS.

Program 2

Expenses: $1,634,214 Revenue: $1,784,283

THE SALE OF DONATED ITEMS RECEIVED FROM DONORS PLAYS A SIGNIFICANT ROLE BEHIND THE SCENES AT GOODWILL, HELPING TO FUND LIFE-CHANGING TRAINING PROGRAMS AND VOCATIONAL SERVICES FOR INDIVIDUALS SEEKING GREATER SUCCESS IN THE WORKPLACES. GOODWILL DEVELOPS WORK OPPORTUNITIES AND VOCATIONAL TRAINING COURSES FOR PEOPLE WITH BARRIERS TO EMPLOYMENT AND DISABLING CONDITIONS BY PARTNERING WITH STATE AGENCIES AND OTHER COMMUNITY ORGANIZATIONS. THESE PARTNERSHIPS CREATE ON-THE-JOB TRAINING PROGRAMS THAT GIVE PEOPLE THE SKILLS THEY NEED TO SUCCEED IN THE WORKPLACE, ALL WHILE THEY EARN A PAYCHECK. THESE PAID TRAINING OPPORTUNITIES OCCUR WITHIN GOODWILL'S RETAIL OPERATIONS OR AT STATE OFFICES, DOING WORK SUCH AS LEGAL SERVICES OR GENERAL OFFICE WORK. THESE PARTNERSHIPS ALSO CREATE A PIPELINE OF REFERRALS TO GOODWILL'S ONE-ON-ONE AND CLASSROOM-BASED JOB READINESS AND COMPUTER TRAINING, GEARED TOWARDS PEOPLE LOOKING TO UPGRADE THEIR SKILLS OR NEED HELP IN THEIR EMPLOYMENT SEARCH. MOST SERVICES ARE FREE AND ARE OFFERED BY DEDICATED MISSION SERVICES STAFF LOCATED IN ONE OF FIVE COMMUNITY-BASED JOB CONNECTION CENTERS OPERATED BY GOODWILL. SPECIAL PROGRAMS ALSO EXIST TO SERVE SPECIFIC POPULATIONS SUCH AS VETERANS, JUSTICE INVOLVED, YOUTH, AND HOUSELESS.

Program 3

Expenses: $1,120,752 Revenue: $68,711

JOB OPPORTUNITIES FOR PEOPLE WITH DISABLING CONDITIONS THROUGH THE STATE SET-ASIDE PROGRAM WITH THE STATE OF TEXAS AS WELL AS CONTRACTS CREATED WITH LOCAL MUNICIPALITIES. THESE CONTRACTS INCLUDE...

JOB OPPORTUNITIES FOR PEOPLE WITH DISABLING CONDITIONS THROUGH THE STATE SET-ASIDE PROGRAM WITH THE STATE OF TEXAS AS WELL AS CONTRACTS CREATED WITH LOCAL MUNICIPALITIES. THESE CONTRACTS INCLUDE LITTER PICK-UP ALONG HIGHWAYS AND STATE PARKS, MOWING STATE-OPERATED FACILITIES AND ROADSIDE PICNIC AREAS, AND LANDSCAPING SERVICES. PEOPLE WITH DISABILITIES RECEIVE PRIORITY ON THESE CONTRACTS.

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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 $17,074,936

Program Service Revenue $8,257,787

Investment Income $810,541

Other Revenue $62,314

TOTAL REVENUE $26,205,578

Expense Breakdown

Grants Paid $0

Salaries & Benefits $14,212,785

Fundraising Expenses $51,773

Program Expenses $19,048,948

Other Expenses $8,401,798

TOTAL EXPENSES $22,614,583

Year-over-Year Comparison

	2024	2023	Change
Revenue	$26,205,578	$28,294,992	-0.1%
Expenses	$22,614,583	$20,569,944	+0.1%
Net Income	$3,590,995	$7,725,048	-0.5%

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

869

Volunteers

N/A

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

$295,085

Total Directors