Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1a · Federated campaigns

  $3,586

• 1f · All other contributions, gifts and grants

  $39,287,611

• 1g · Noncash contributions included above

  $38,606,864

• 2a · Program service revenue: DONATED GOODS-SALES

  total $41,056,319 · related or exempt $41,056,319

• 2b · Program service revenue: CONTRACTED SERVICES

  total $11,055,920 · related or exempt $11,055,920

• 2c · Program service revenue: CAREER DEVELOPMENT

  total $6,039,082 · related or exempt $6,039,082

• 3 · Investment income

  total $1,147,688 · excluded $1,147,688

• 7a · Gross sales of assets other than inventory

  securities $1,109,062

• 7b · Less cost or other basis and sales expenses

  securities $1,696,980 · other assets $27,741

• 7c · Gain or loss

  securities -$587,918 · other assets -$27,741

• 7d · Net gain or loss

  total -$615,659 · excluded -$615,659

• 11a · Other revenue: MISCELLANEOUS

  total $14,887 · excluded $14,887

• 11e · Other revenue, total

  $14,887

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $1,425,091 · program services $1,229,533 · management and general $191,714 · fundraising $3,844

• 7 · Other salaries and wages

  total $26,280,396 · program services $23,312,478 · management and general $2,894,478 · fundraising $73,440

• 8 · Pension plan contributions

  total $572,186 · program services $381,875 · management and general $189,216 · fundraising $1,095

• 9 · Other employee benefits

  total $1,719,588 · program services $1,147,646 · management and general $568,650 · fundraising $3,292

• 10 · Payroll taxes

  total $1,579,821 · program services $1,263,964 · management and general $308,646 · fundraising $7,211

• 11b · Fees: legal

  total $30,435 · program services $26,721 · management and general $3,642 · fundraising $72

• 11c · Fees: accounting

  total $91,775 · program services $80,574 · management and general $10,982 · fundraising $219

• 11d · Fees: lobbying

  total $72,000 · program services $72,000

• 11f · Fees: investment management

  total $149,964 · management and general $149,964

• 11g · Fees: other

  total $2,280,175 · program services $1,993,108 · management and general $281,463 · fundraising $5,604

• 12 · Advertising and promotion

  total $682,262 · program services $192,655 · management and general $442,880 · fundraising $46,727

• 13 · Office expenses

  total $3,518,270 · program services $3,147,801 · management and general $349,061 · fundraising $21,408

• 16 · Occupancy

  total $11,730,527 · program services $11,261,235 · management and general $469,292

• 17 · Travel

  total $667,696 · program services $584,038 · management and general $83,658

• 22 · Depreciation, depletion and amortization

  total $1,232,674 · program services $1,125,482 · management and general $107,192

• 24a · Other expenses: COST OF GOODS SOLD

  total $38,606,864 · program services $38,606,864

• 24b · Other expenses: SERVICE CHARGE

  total $1,980,222 · program services $1,834,978 · management and general $144,643 · fundraising $601

• 24c · Other expenses: DUES

  total $291,596 · program services $17,668 · management and general $273,928

• 24d · Other expenses: EQUIPMENT MAINTENANCE

  total $280,350 · program services $246,077 · management and general $34,273

• 24e · All other expenses

  total $1,419 · program services $1,419

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $184,265 · end of year $145,670

• 2 · Savings and temporary cash investments

  beginning of year $10,493,196 · end of year $18,433,357

• 4 · Accounts receivable

  beginning of year $2,951,520 · end of year $3,428,414

• 8 · Inventories for sale or use

  beginning of year $59,672 · end of year $163,032

• 9 · Prepaid expenses and deferred charges

  beginning of year $59,834 · end of year $142,609

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

  $28,685,082

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

  $18,912,084

• 10c · Land, buildings and equipment, net

  beginning of year $7,413,729 · end of year $9,772,998

• 11 · Investments: publicly traded securities

  beginning of year $30,571,983 · end of year $29,235,851

• 15 · Other assets

  beginning of year $46,884,489 · end of year $45,071,367

• 17 · Accounts payable and accrued expenses

  beginning of year $4,091,683 · end of year $4,168,459

• 25 · Other liabilities

  beginning of year $45,899,280 · end of year $45,124,493

• 27 · Net assets without donor restrictions

  beginning of year $48,151,040 · end of year $56,375,585

• 28 · Net assets with donor restrictions

  beginning of year $476,685 · end of year $724,761

The filer's explanations (Part III)

PART I, LINE 1A

THE CEO, LISA RUSYNIAK, IS ALLOWED TRAVEL FOR COMPANIONS, IT IS TAXABLE AND INCLUDED IN HER WAGES. ALL EMPLOYEES ARE ELIGIBLE FOR HEALTH CLUB REIMBURSEMENT, WHICH IS INCLUDED ON EMPLOYEES W-2S.

PART I, LINE 7

BONUSES FOR THE KEY EMPLOYEES ARE DETERMINED BY THE COMPENSATION COMMITTEE BASED ON SPECIFIC PERCENTAGES OF SALARY FOR MEETING PRE-ESTABLISHED GOODWILL INDUSTRIES OF THE CHESAPEAKE AND GOODWILL WORKS OF THE CHESAPEAKE DEPARTMENTAL AND INDIVIDUAL DEVELOPMENT GOALS. THE BONUS FOR THE CEO IS LIMITED TO A SPECIFIC PERCENTAGE OF HER SALARY, BUT THE AMOUNT PAID IS AT THE DISCRETION OF THE BOARD. THE LISTED 2023 BONUSES ARE BASED ON 2022 GOALS AND ACHIEVEMENTS.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• GIC REAL ESTATE HOLDINGS LLC

  REAL ESTATE · MD · income $0 · assets $1,233,775

  Directly controlled by GOODWILL INDUSTRIES OF THE CHESAPEAKE INC

• GOODWILL CHESAPEAKE EXCEL CENTERS LLC

  ADULT EDUCATION · MD · income $0 · assets $0

  Directly controlled by GOODWILL INDUSTRIES OF THE CHESAPEAKE INC