Goodwin House Foundation

What it reported doing in 2024

The foundation worked diligently to partner with its donors to support our team members as well. Through an incredible outpouring of generosity, we were able to provide $732,633 in funding for team members and their families. (please see details below.) some of the team member support came in tuition assistance grants and leadership opportunities. $255,073 funded 96 students in their educational journeys. Also, we were able to support again a cohort of team members for the advanced certified nursing assistant career ladder initiative which helped them gain important leadership training and advanced certification. We helped to support new nurses in our innovative nursing pathways program. We offered again this year additional funding for children and grandchildren of our team members to receive support for their higher education. 69 children and grandchildren of team members received grants of $500-$1,000 each to ease the burden of educational costs for a total of $68,500. This benefit was received extremely well in our community because many of our team members have completed their formal education yet have a strong desire to support their own children and grandchildren through college.other contributions were used to provide for the u.s. Citizenship application fee program supporting 23 of our staff members and 10 of their family members, totaling $23,938. We also provided course materials for our resident tutors who help our team members prepare for their naturalization test and interview. We believe this is an important program given that 50% of our staff members are foreign born and many wish to pursue u.s. Citizenship but are hindered by the high cost in fees. Out of this program, we also offered funding for daca, work permit and green card renewal fees. In addition, the foundation provided over $15,000 in critical funding for legal fees associated with immigration support services for team members.given the high cost of living in our area, many members of our team experience severe unexpected financial difficulties. We offered $103,115 for emergency financial assistance grants to 60 team members. These grants helped team members with overdue medical bills, unexpected car repairs, and assistance with rent under dire circumstances. This assistance provided comfort to those in need and allowed them to continue serving alongside our residents with dignity and maintain their exceptional standards of professionalism and compassion. We are grateful for members of the grants committee which volunteer their time on a weekly basis to evaluate and review grant applications. Their diligence and support help us to offer a fair and systematic approach to reviewing the financial grant applications. Grant recipients are required to complete at least three modules of the truist financial education curriculum at no cost to them. In doing so, the team members learn to set up a budget and save for emergencies as well as have the opportunity to explore other aspects of financial education and growth.we offered student loan repayment for our clinical team members at the same level of tuition benefits. This was especially meaningful for our clinical team members given that the average person had a student loan debt of over $130,000! Because of the generosity ofour donors, we were able to offer $131,150 in loan repayment for 31 clinical team members. Additionally, the anderson fund provided $10,000 in student loan repayment for 10 non clinical team members. We also provided an additional $157,885 for workforce development initiatives including providing stipends for 34 interns and the salary and benefits of our team member engagement and outreach manager position, who supports our team members with resources and manages our internship program, community partnerships and coordinates our internal leadership education program.these interns had valuable experiences that provided them the opportunity to witness the strong culture of belonging and co

Financial Efficiency

• Mission deployment rate: 50.4%; rating input score 50
• Program expense ratio: 80.3%; rating input score 80
• Fundraising efficiency: $14.12 raised per $1 spent on fundraising; rating input score 49; 49th 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: 100%; rating input score 100; 63rd 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: Fail
  • 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: 47.7%; rating input score 91; 91st percentile among comparable filings
• Total-asset coverage ratio: 11.03; rating input score 92; 92nd percentile among comparable filings
• Liabilities to assets ratio: 0.03; rating input score 77; 77th percentile among comparable filings
• Officer compensation ratio: 22.6%; rating input score 10; 10th percentile among comparable filings

Growth

• Program expense growth: 7.8% per year; rating input score 100; 55th percentile among comparable filings
• Revenue growth: 11.7% per year; rating input score 100; 74th percentile among comparable filings
• Asset growth: 7.9% per year; rating input score 100; 49th percentile among comparable filings