Goodwill of Colorado Foundation

Nonprofit profile at a glance

EIN
841488592
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Colorado Springs, CO, USA
Phone
7196354483
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$6,592,332
Expenses
$5,404,049
Assets
$22,693,739
Liabilities
$55,271

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

Leadership & pay

18 people listed

Executive titles in this filing

  • Karla Grazier - See Sch O (CEO)

Highest reported compensation

  • Karla Grazier - See Sch O (CEO): $685,733 total reported compensation
  • Thomas Wildenberg - See Sch O (CFO): $282,095 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 of Colorado foundation serves goodwill of Colorado (EIN # 84-0513404) through strategic and efficient fundraising efforts dedicated to the organization's many diverse life-changing programs and services benefitting 148 thousand coloradoans in 63 counties throughout Colorado each year. The foundation supports goodwill of Colorado's mission of helping individuals with significant disabilities and disadvantages overcome their barriers to independence through the power of work and life-engagement opportunities.

What it reported doing in 2024

In 2024, goodwill of Colorado foundation in partnership with goodwill of Colorado (EIN#84-0513404) and 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 services for government agencies, academic and health care institutions, and businesses.

Operating model

Revenue model
Donor-supported. 67% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 71
  • Accountability: 93
  • Sustainability: 79
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 72.8%; rating input score 73
  • Program expense ratio: 83.3%; rating input score 83
  • Fundraising efficiency: $5.22 raised per $1 spent on fundraising; rating input score 18; 18th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 88.2%; rating input score 88; 19th 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: 18%; rating input score 75; 75th percentile among comparable filings
  • Total-asset coverage ratio: 4.2; rating input score 81; 81st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 1.3%; rating input score 79; 79th percentile among comparable filings

Growth

  • Program expense growth: 12.7% per year; rating input score 100; 72nd percentile among comparable filings
  • Revenue growth: 13.6% per year; rating input score 100; 79th percentile among comparable filings
  • Asset growth: 4.6% per year; rating input score 100; 32nd percentile among comparable filings

Details

  • Where the money goes: 72.8% of revenue deployed · 83.3% of spending went to programs
  • Governance: 15 of 17 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $4.5M in reported program spending
  • Leadership: top reported pay $686K · 18 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 3 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Financial Efficiency: Fundraising efficiency scored 18/100.