Goodwill of North Georgia Development Company Ii Inc

What it reported doing in 2024

The company, in an effort to enable its supported public charitable organization, goodwill of north Georgia, inc., a Georgia nonprofit corporation (goodwill), to better accomplish its charitable mission of enhancing the dignity and quality of life of individuals, families, and communiites by eliminating barriers to opportunity and helping people in need reach their full potential through the power of work constructed, renovated, and installed certain improvements on the real property located at 2160 metropolitan parkway sw, atlanta, Georgia 30315 (collectively, the facility) for goodwill's use to conduct its charitable purpose. The facility enables goodwill to operate a career and job training center and a retail store. The company entered into an operating lease with goodwill pursuant to which, in addition to the construction, renovation , and installation of improvements, the company provides ongoing maintenance and management services related to the facility. In doing so, the company allows goodwill to dedicate additional time and resources to its core mission and charitable purpose. The company performs these services exclusively for goodwill, its designated publicly supported charitable organization. As a supporting organization within the meaning of section 509(a)(3) of the internal revenue code of 1986, as amended (the code), net income of the company after allowance for maintenance and replacement reserves, if any , will ultimately be contributed to goodwill. The company funded the construction, renovation, and installation of the facility with a loan made possible by the new markets tax credit program within section 45d of the code and the efforts of a community development entity, aemi fund xxv, llc, a Georgia limited liability company, which allowed goodwill to maximize its positive impact. The company contributes excess funds contributed to or used in benefit of its activities, if any, to goodwill.

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 100%; rating input score 100
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 64th 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: Limited
• Major donor itemization: Limited
• Related-party transparency: Limited

Accountability

• Independent voting board: 40%; rating input score 40; 15th percentile among comparable filings
• Governance controls: 7 of 9 controls in place; rating input score 78
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Missing
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Fail
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -246.1%; rating input score 1; 1st percentile among comparable filings
• Total-asset coverage ratio: 17.07; rating input score 94; 94th percentile among comparable filings
• Liabilities to assets ratio: 1.15; rating input score 4; 4th percentile among comparable filings
• Officer compensation ratio: 16.2%; rating input score 23; 23rd percentile among comparable filings

Growth

• Program expense growth: 45.8% per year; rating input score 100; 95th percentile among comparable filings
• Revenue growth: 58.7% per year; rating input score 100; 98th percentile among comparable filings
• Asset growth: 16.4% per year; rating input score 100; 80th percentile among comparable filings