Goodwill of Colorado

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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

1961

Legal Domicile

Principal Officer

Karla Grazier

Phone

7196354483

Tax Period

2023-01-01 to 2023-12-31

Goodwill of Colorado, founded in 1961, is a major nonprofit in the Employment sector that reported $173.5M in total revenue in fiscal year 2023. Expenses of $156.6M left a modest 10% surplus.

Mission

NEARLY 30 DIVERSE AND INNOVATIVE EMPLOYMENT AND LIFE SKILLS PROGRAMS THAT FOSTER CONFIDENCE AND OPPORTUNITY FOR INDIVIDUALS WITH ECONOMIC AND DEVELOPMENT CHALLENGES THAT KEEP THEM FROM LEADING INDEPENDENT AND ENGAGED LIVES. SEE SCHEDULE O.

Program Service Accomplishments

Program 1

Expenses: $123,104,145 Revenue: $69,905,677

IN 2023, GOODWILL OF COLORADO OPERATED 43 RETAIL STORES, 5 OUTLETS, ALONG WITH 9 ATTENDED DONATION CENTERS THROUGH THE STATE OF COLORADO. OUR MISSION TO HELP PEOPLE ACHIEVE INDEPENDENCE IS EXPRESSED THROUGHOUT THE ORGANIZATION. APPROXIMATELY 75% OF THEOSE EMPLOYEE IN OUR STORES, ECOMMERCE, TRANSPORTATION, AND WAREHOUSE OPERATIONS HAVE MULTIPLE BARRIERS TO EMPLOYMENT. WE PROVIDE FOUNDATIONAL JOBS AND TRAIN THOSE EMPLOYEES IN SOFT JOB SKILLS AS WELL AS RETAIL, TRANSPORTATION, AND LOGISTIC KNOWLEDGE. See Sch O for continuation

Program 2

Expenses: $2,204,456 Revenue: $2,427,465

IN 2023, GOODWILL OF COLORADO, IN PARTNERSHIP WITH GOODWILL INDUSTRIAL SERVICES CORPORATION (EIN#84-1273701), PROVIDED MEANINGFUL AND GAINFUL EMPLOYMENT TO OVER 200 INDIVIDUALS WITH DEVELOPMENTAL AND ECONOMIC CHALLENGES THROUGH ITS SELF-SUSTAINING BUSINESS ENTERPRISES COMPRISED OF LAUNDRY, JANITORIAL, AND FLEET MAINTENANCE SERVICES. GOODWILL OF COLORADO AND GOODWILL INDUSTRIAL SERVICES CORPORATION (EIN#84-1273701) CUSTOMERS INCLUDED MILITARY BASES, See Sch O for continuation

Program 3

Expenses: $17,649,426 Revenue: $9,532,592

IN 2023, GOODWILL OF COLORAD'S CAREER DEVELOPMENT CENTER PROVIDED JOB TRAINING AND CAREER SERVICES FOR OVER 40,505 UN-OR-UNDER EMPLOYED INDIVIDUALS THROUGHOUT THE COMMUNITY. THESE SERVICES INCLUDED JOB PREPARATION COURSES, WORK EXPERIENCE PROGRAMS AND PROFESSIONAL CERTIFICATION COURSES DIRECTED AT MAKING CAREER-CHALLENGED INDIVIDUALS' JOB-READY. IN PARTNERSHIP WITH COMMUNITY PARTNERS, GOODWILL OF COLORADO PLACED 1,608 JOB SEEKERS INTO EMPLOYMENT WITH NET ANNUAL IMPACT OF $30.7 MILLION AND OVERALL ECONOMIC IMPACT TOTALING $288.7 MILLION.

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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 $87,853,030

Program Service Revenue $22,049,257

Investment Income $3,675,757

Other Revenue $59,878,515

TOTAL REVENUE $173,456,559

Expense Breakdown

Grants Paid $0

Salaries & Benefits $101,579,449

Fundraising Expenses $0

Program Expenses $142,958,027

Other Expenses $55,001,342

TOTAL EXPENSES $156,580,791

Year-over-Year Comparison

	2023	2022	Change
Revenue	$173,456,559	$171,505,060	+0.0%
Expenses	$156,580,791	$144,266,004	+0.1%
Net Income	$16,875,768	$27,239,056	-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

7006

Volunteers

6236

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

$910,964

Total Directors

$654,581

Key Employees

$705,631

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Karla Grazier	President/CEO	39.0	Officer Director	$607,888	$46,693	$654,581
Tim Cooper	COO - Chief Oper. Officer	40.0	Key Emp	$259,790	$36,034	$295,824
Thomas Wildenberg	CFO	39.0	Officer	$229,451	$26,932	$256,383
Gary Smith	CMO	39.0	Key Emp	$204,553	$12,032	$216,585
ALison McGilchrist	VP Marketing & Development	40.0	Key Emp	$181,828	$11,394	$193,222
Shery Richer	Director III, Retail Op	40.0	Highest	$166,845	$23,698	$190,543
Melanie Greer	Sr. Director, Retail Op	40.0	Highest	$131,118	$24,487	$155,605
Larry Shea	Director II, Trans-Logist	40.0	Highest	$132,711	$17,228	$149,939
Heather Berens	Director II, Finance	40.0	Highest	$131,075	$18,173	$149,248
Ben Booker	Director II, Real Estate	40.0	Highest	$138,279	$2,793	$141,072
Matt Gendron	Co-Chair	1.0	Officer Director	$0	$0	$0
Victoria Lovato	Co-Chair	1.0	Officer Director	$0	$0	$0
Virginia Ginna Morgan	Vice Chair	1.0	Officer Director	$0	$0	$0
Kevin Hall	Treasurer	1.0	Officer Director	$0	$0	$0
Carmon Hicks	Secretary	1.0	Officer Director	$0	$0	$0
Tom Neill	Foundation Board Chair	1.0	Director	$0	$0	$0
Grace Harrison	Immediate Past Co-Chair	1.0	Director	$0	$0	$0
Jennifer Wozniak	Immediate Past Co-Chair	1.0	Director	$0	$0	$0
Damon Barry	Director	1.0	Director	$0	$0	$0
Patricia Cone	Director	1.0	Director	$0	$0	$0
Scot Cuthbertson	Director	1.0	Director	$0	$0	$0
Phil DeVries	Director	1.0	Director	$0	$0	$0
David Ettenger	Director	1.0	Director	$0	$0	$0
Michael Everett	Director	1.0	Director	$0	$0	$0
Peggy Gardner	Director	1.0	Director	$0	$0	$0
Christopher Gaskill	Director	1.0	Director	$0	$0	$0
Lt Gen Ret Michael Gould	Director	1.0	Director	$0	$0	$0
Deborah Hendrix	Director	1.0	Director	$0	$0	$0
Mathew Hiner	Director	1.0	Director	$0	$0	$0
Dr Johnny Johnson	Director	1.0	Director	$0	$0	$0
Sharon Linhart	Director	1.0	Director	$0	$0	$0
Martha Marzolf	Director	1.0	Director	$0	$0	$0
Daniel May	Director	1.0	Director	$0	$0	$0
Chris Odell	Director	1.0	Director	$0	$0	$0
Tim Powers	Director	1.0	Director	$0	$0	$0
Diane E Reeder	Director	1.0	Director	$0	$0	$0
Todd Reynolds	Director	1.0	Director	$0	$0	$0
Jeanne Robb	Director	1.0	Director	$0	$0	$0
Steve Roush	Director	1.0	Director	$0	$0	$0
Lisa Rutherford	Director	1.0	Director	$0	$0	$0
Rosie Sanchez	Director	1.0	Director	$0	$0	$0
Jim Spittler	Director	1.0	Director	$0	$0	$0
Alan Steiner	Director	1.0	Director	$0	$0	$0
Jonathan Tee	Director	1.0	Director	$0	$0	$0
Wendel Torres	Director	1.0	Director	$0	$0	$0
Leif Ullman	Director	1.0	Director	$0	$0	$0
Gary Winegar	Director	1.0	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	$173,456,559	$156,580,791	$261,712,899	$16,875,768
2022	$171,505,060	$144,266,004	$238,007,086	$27,239,056
2021	$166,583,403	$132,388,110	$192,154,844	$34,195,293
2020	$113,931,754	$117,930,302	$148,195,437	$-3,998,548
2019	$140,830,347	$91,513,882	$148,848,350	$49,316,465
2018	$53,288,023	$47,945,449	$75,776,749	$5,342,574