Goodwill Industries of the Valleys

Legal name: Goodwill Industries of the Valley Works

Nonprofit profile at a glance

EIN
270953369
IRS 990 coverage
2010–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Roanoke, VA, United States
Phone
(540) 581-0620
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$104,197,127
Expenses
$100,877,293
Assets
$47,515,899
Liabilities
$25,624,493

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

33 people listed

Executive titles in this filing

  • RICHMOND VINCENT (PRESIDENT & CEO)
  • STEPHANIE SMOOT (VICE PRESIDENT, FINANCE)
  • PHILLIP FRENCH (SENIOR VICE PRESIDENT)
  • ZENITH BARRETT (VICE PRESIDENT, ADVANCEMENT)
  • JIM FORER (VICE PRESIDENT, BUSINESS OPTIMIZATION)

Highest reported compensation

  • RICHMOND VINCENT (PRESIDENT & CEO): $340,941 total reported compensation
  • JACKSON G GREEN (CHIEF FINANCIAL OFFICER): $240,674 total reported compensation
  • MINDY BOYD (CHIEF OPERATIONS OFFICER): $237,292 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Serve.** We support our communities and each other. Mentor.** We motivate and empower each other. Include.** We ensure everyone has a voice. Mission, Vision, Purpose, Values Mission Empowering Individuals. Strengthening Families. Inspiring Communities. Empowering Individuals. Vision. Founded over ninety years ago, Goodwill Industries of the Valleys is committed to the vision of eliminating poverty through our mission of empowering individuals, strengthening families, and inspiring communities. Goodwill team members are at the heart of this mission. They are the very individuals we aim to empower, part of the families we want to strengthen, and members of the communities we want to inspire. Through a team-centered model, Goodwill is more connected to the areas we serve. Our team members are the ones who drive innovation, further the...

What it reported doing in 2024

Donated goods - goodwill collects items that the public no longer needs at community donation centers and sells these items in retail stores that it operates. Donated items that are sold in stores include clothing, shoes, toys, household goods, furniture, small electronics, and various other items. The revenues generated from store sales help to fund the organization's skills training, job placement, and support services to help people achieve their greatest potential. This funding supports both goodwill industries of the valley works and its parent company goodwill industries of the valleys, inc.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Total assets are small relative to annual expenses; liquid coverage is unknown and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 77
  • Accountability: 95
  • Sustainability: 41
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.7%; rating input score 92
  • Program expense ratio: 94.7%; rating input score 95
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 3.2%; rating input score 48; 48th percentile among comparable filings
  • Total-asset coverage ratio: 0.47; rating input score 17; 17th percentile among comparable filings
  • Liabilities to assets ratio: 0.54; rating input score 33; 33rd percentile among comparable filings
  • Officer compensation ratio: 0.5%; rating input score 83; 83rd percentile among comparable filings

Growth

  • Program expense growth: 11% per year; rating input score 100; 78th percentile among comparable filings
  • Revenue growth: 10.8% per year; rating input score 100; 79th percentile among comparable filings
  • Asset growth: 11.3% per year; rating input score 100; 76th percentile among comparable filings

Details

  • What they do: 1 operating location identified
  • Where the money goes: 91.7% of revenue deployed · 94.7% of spending went to programs
  • Governance: 18 of 18 board members independent · 8 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $95.5M in reported program spending
  • Leadership: top reported pay $341K · 33 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $4.3M reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Total-asset coverage ratio scored 17/100.
  • Moderate — Sustainability: Operating margin scored 48/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Sustainability: Liabilities to assets ratio scored 33/100.