Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $52,413,386

• 1g · Noncash contributions included above

  $52,413,386

• 2a · Program service revenue: STORES & SALVAGE SALES

  total $53,028,520 · related or exempt $53,028,520

• 2b · Program service revenue: CONTRACT REVENUE

  total $3,137,453 · related or exempt $3,137,453

• 3 · Investment income

  total $4 · excluded $4

• 6a · Gross rents

  real property $21,800

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $21,800

• 6d · Net rental income or loss

  total $21,800 · excluded $21,800

• 7a · Gross sales of assets other than inventory

  other assets $500,000

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

  other assets $422,222

• 7c · Gain or loss

  other assets $77,778

• 7d · Net gain or loss

  total $77,778 · excluded $77,778

• 11a · Other revenue: OTHER REVENUE

  total $95,656 · excluded $95,656

• 11e · Other revenue, total

  $95,656

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $301,020 · program services $301,020

• 7 · Other salaries and wages

  total $23,231,458 · program services $23,231,458

• 8 · Pension plan contributions

  total $105,304 · program services $105,304

• 9 · Other employee benefits

  total $2,700,949 · program services $2,700,949

• 10 · Payroll taxes

  total $1,754,538 · program services $1,754,538

• 11a · Fees: management

  total $5,721,046 · management and general $5,721,046

• 11c · Fees: accounting

  total $26,792 · program services $26,792

• 11g · Fees: other

  total $63,052 · program services $63,052

• 12 · Advertising and promotion

  total $675 · program services $675

• 13 · Office expenses

  total $204,052 · program services $204,052

• 16 · Occupancy

  total $8,755,699 · program services $8,755,699

• 17 · Travel

  total $527,493 · program services $527,493

• 19 · Conferences, conventions and meetings

  total $24,767 · program services $24,767

• 20 · Interest

  total $151,599 · program services $151,599

• 21 · Payments to affiliates

  total $108,598 · program services $108,598

• 22 · Depreciation, depletion and amortization

  total $1,064,646 · program services $1,064,646

• 23 · Insurance

  total $375,783 · program services $375,783

• 24a · Other expenses: DONATED PROGRAM MATERIA

  total $53,028,520 · program services $53,028,520

• 24b · Other expenses: MATERIALS, SUPPLIES, AN

  total $4,285,774 · program services $4,285,774

• 24c · Other expenses: COMMISSIONS

  total $982,730 · program services $982,730

• 24d · Other expenses: VEHICLE LEASE EXPENSE

  total $379,164 · program services $379,164

• 24e · All other expenses

  total $506,648 · program services $506,648

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $8,501,367 · end of year $5,010,241

• 4 · Accounts receivable

  beginning of year $1,203,337 · end of year $886,897

• 8 · Inventories for sale or use

  beginning of year $3,297,859 · end of year $3,049,502

• 9 · Prepaid expenses and deferred charges

  beginning of year $444,061 · end of year $579,087

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

  $379

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

  $379

• 10c · Land, buildings and equipment, net

  beginning of year $467,394 · end of year $0

• 15 · Other assets

  beginning of year $21,745,251 · end of year $29,571,167

• 17 · Accounts payable and accrued expenses

  beginning of year $2,392,227 · end of year $1,897,042

• 23 · Secured mortgages and notes payable

  beginning of year $17,837

• 25 · Other liabilities

  beginning of year $19,020,078 · end of year $18,465,421

• 27 · Net assets without donor restrictions

  beginning of year $14,229,127 · end of year $18,734,431

The filer's explanations (Part III)

PART I, LINE 3

ALL COMPENSATION FOR THE CEO AND THE EXECUTIVE TEAM IS PAID BY THE RELATED ORGANIZATION, GOODWILL INDUSTRIES OF THE VALLEYS, INC. A GOVERNANCE COMMITTEE IS APPOINTED BY THE BOARD AND MADE UP OF INDEPENDENT MEMBERS OF THE BOARD OF DIRECTORS, TO RESPONSIBLY DETERMINE THE COMPENSATION OF THE PRESIDENT & CEO. THE COMMITTEE USES AN ANNUAL MARKET SALARY STUDY FROM A THIRD PARTY THAT COMPARES POSITIONS BY INDUSTRY, GEOGRAPHIC SCOPE, AND ANNUAL REVENUE FOR BASE SALARY AND TOTAL COMPENSATION. A REVIEW OF THE PREVIOUS YEAR'S OUTCOMES, PERFORMANCE, AND GOALS ATTAINED ARE ALSO CONSIDERED DURING THE PERFORMANCE AND COMPENSATION REVIEW. DISCUSSIONS OF COMPENSATION ARE RECORDED IN THE BOARD MINUTES.