Goodwill Industries of the Valleys Inc

Nonprofit profile at a glance

EIN
540884014
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Roanoke, VA, USA
Phone
5405810620
Rating
75
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Human Services

Official website

Reported finances

Revenue
$23,983,435
Expenses
$18,926,985
Assets
$76,042,999
Liabilities
$34,065,338

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

Leadership & pay

34 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 BUISNESS 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

Goodwill's mission is to empower individuals, strengthen families, and inspire communities through job skills training and work placement opportunities with a multi-generational approach focused on removing barriers.

What it reported doing in 2024

Workforce development - goodwill receives federal grants designed to assist individuals who are low income, dislocated, over the age of 55 and on a low income, youth that are at-risk, and other individuals who have barriers to employment. Goodwill provides training and education to prepare individuals for employment opportunities and helps them to find a job. Through training and employment programs individuals are able to achieve the pride, dignity, and self-respect that comes from earning a paycheck and contributing to the community.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Cannot be determined from the filing. The program-spending lines do not add up, so the filing cannot show reliably whether the nonprofit works directly or through others.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 54
  • Transparency & Controls: 90
  • Accountability: 100
  • Sustainability: 69
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 47.7%; rating input score 48
  • Program expense ratio: 55.1%; rating input score 55
  • Fundraising efficiency: $94.25 raised per $1 spent on fundraising; rating input score 84; 84th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 8th percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 21.1%; rating input score 83; 83rd percentile among comparable filings
  • Total-asset coverage ratio: 4.02; rating input score 81; 81st percentile among comparable filings
  • Liabilities to assets ratio: 0.45; rating input score 33; 33rd percentile among comparable filings
  • Officer compensation ratio: 11.3%; rating input score 16; 16th percentile among comparable filings

Growth

  • Program expense growth: -2.4% per year; rating input score 0; 6th percentile among comparable filings
  • Revenue growth: 1.6% per year; rating input score 100; 15th percentile among comparable filings
  • Asset growth: 8.4% per year; rating input score 100; 57th percentile among comparable filings

Details

  • Where the money goes: 47.7% of revenue deployed · 55.1% of spending went to programs
  • Governance: 19 of 19 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $10.4M in reported program spending
  • Leadership: top reported pay $341K · 34 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $20.9M reported
  • Consistency: 31 of 32 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 13 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 48/100.
  • Review — Financial Efficiency: Program expense ratio scored 55/100.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 16/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 33/100.