Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $3,646,529

• 1f · All other contributions, gifts and grants

  $728,766

• 3 · Investment income

  total $206,810 · excluded $206,810

Functional expenses

Part IX, the statement of functional expenses.

• 7 · Other salaries and wages

  total $2,021,105 · program services $2,021,105

• 9 · Other employee benefits

  total $431,142 · program services $431,142

• 10 · Payroll taxes

  total $338,156 · program services $338,156

• 11a · Fees: management

  total $393,881 · management and general $393,881

• 11b · Fees: legal

  total $515 · management and general $515

• 11c · Fees: accounting

  total $20,088 · management and general $20,088

• 11g · Fees: other

  total $126,332 · program services $126,332

• 13 · Office expenses

  total $38,005 · program services $38,005

• 16 · Occupancy

  total $428,865 · program services $428,865

• 17 · Travel

  total $46,515 · program services $46,515

• 19 · Conferences, conventions and meetings

  total $10,986 · program services $10,986

• 22 · Depreciation, depletion and amortization

  total $8,202 · program services $8,202

• 24a · Other expenses: JANITORIAL SUPPLIES

  total $204,438 · program services $204,438

• 24b · Other expenses: OTHER SUPPLIES

  total $9,010 · program services $9,010

• 24c · Other expenses: EQUIPMENT RENTAL AND MA

  total $7,742 · program services $7,742

• 24d · Other expenses: DATA PROCESSING

  total $6,659 · program services $6,659

• 24e · All other expenses

  total $6,098 · program services $6,098

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $2,872,220 · end of year $1,801,661

• 4 · Accounts receivable

  beginning of year $431,043 · end of year $373,181

• 7 · Other notes and loans receivable

  beginning of year $2,100,000 · end of year $3,503,394

• 9 · Prepaid expenses and deferred charges

  beginning of year $92,554 · end of year $85,787

• 10a · Land, buildings and equipment: cost or other basis

  $360,300

• 10b · Land, buildings and equipment: accumulated depreciation

  $349,278

• 10c · Land, buildings and equipment, net

  beginning of year $19,224 · end of year $11,022

• 17 · Accounts payable and accrued expenses

  beginning of year $641,552 · end of year $525,709

• 25 · Other liabilities

  beginning of year $108,519 · end of year $0

• 27 · Net assets without donor restrictions

  beginning of year $4,764,970 · end of year $5,249,336

The filer's explanations (Part III)

PART I, LINE 3

THE RELATED ORGANIZATION, GOODWILL INDUSTRIES OF ORANGE COUNTY USED A COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, FORM 990 OF OTHER ORGANIZATIONS, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE TO ESTABLISH COMPENSATION OF THE PRESIDENT/CEO.

PART I, LINE 8

PRESIDENT AND CEO NICOLE SUYDAM ENTERED INTO A NO SPECIFIED TERM, AT WILL, EMPLOYMENT AGREEMENT WITH GIOC, EFFECTIVE OCTOBER 15, 2018, WHICH WAS MORE THAN SIX YEARS AFTER RESIGNING IN 2012 AS GIOC'S VICE-PRESIDENT OF DEVELOPMENT. MS. SUYDAM'S ANNUAL BASE SALARY THROUGH 2019 WAS SET AT $380,000, AND SHE RECEIVED A $20,000 START BONUS ON THE FIRST REGULAR PAYDAY IN 2019, WHICH WAS CONTINGENT UPON HER BEING EMPLOYED BY GIOC THROUGH THE DATE THAT THE START BONUS WAS PAID. MS. SUYDAM IS ELIGIBLE TO PARTICIPATE IN GIOC'S HEALTH BENEFITS PLANS, AND IS ENTITLED TO ALL CUSTOMARY AND USUAL FRINGE BENEFITS, INCLUDING PARTICIPATION IN THE GIOC 403(B) RETIREMENT PLAN AND OTHER PROGRAMS GENERALLY AVAILABLE TO EXECUTIVES OF GIOC. MS. SUYDAM WILL ACCRUE 20 DAYS (4 WEEKS) OF PAID VACATION PER YEAR. IN 2019, MS. SUYDAM IS ELIGIBLE TO PARTICIPATE IN THE GIOC MANAGEMENT INCENTIVE COMPENSATION PLAN.