Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1a · Federated campaigns

  $355,840

• 1f · All other contributions, gifts and grants

  $98,525,360

• 1g · Noncash contributions included above

  $96,682,172

• 2a · Program service revenue: LAUNDRY SERVICES

  total $15,670,186 · related or exempt $15,670,186

• 2b · Program service revenue: CUSTODIAL CONTRACTS

  total $14,300,352 · related or exempt $14,300,352

• 2c · Program service revenue: BUSINESS SERVICES

  total $8,779,208 · related or exempt $8,779,208

• 2d · Program service revenue: MISSION FEES

  total $1,806,507 · related or exempt $1,806,507

• 2f · All other program service revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $173,717 · excluded $173,717

• 6c · Rental income or loss

  real property $0 · personal property $0

• 7a · Gross sales of assets other than inventory

  securities $1,855,553

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

  securities $1,690,491

• 7c · Gain or loss

  securities $165,062 · other assets $0

• 7d · Net gain or loss

  total $165,062 · excluded $165,062

• 8a · Fundraising events: gross income

  $619,006

• 8b · Fundraising events: direct expenses

  $271,610

• 8c · Net income from fundraising events

  total $347,396 · excluded $347,396

• 10a · Gross sales of inventory

  $58,903,430

• 10b · Cost of goods sold

  $2,930,762

• 10c · Net income from sales of inventory

  total $55,972,668 · related or exempt $55,972,668

• 11d · All other revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $0

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $1,302,052 · management and general $1,302,052

• 7 · Other salaries and wages

  total $85,991,683 · program services $82,434,121 · management and general $3,157,556 · fundraising $400,006

• 8 · Pension plan contributions

  total $863,717 · program services $780,589 · management and general $70,747 · fundraising $12,381

• 9 · Other employee benefits

  total $651,087 · program services $617,499 · management and general $23,793 · fundraising $9,795

• 10 · Payroll taxes

  total $10,475,374 · program services $9,996,241 · management and general $436,154 · fundraising $42,979

• 11b · Fees: legal

  total $637,913 · program services $447,574 · management and general $169,944 · fundraising $20,395

• 11d · Fees: lobbying

  total $63,200 · management and general $63,200

• 11f · Fees: investment management

  total $7,069 · management and general $7,069

• 11g · Fees: other

  total $8,082,654 · program services $5,715,307 · management and general $2,106,908 · fundraising $260,439

• 12 · Advertising and promotion

  total $482,421 · program services $387,639 · management and general $71,659 · fundraising $23,123

• 13 · Office expenses

  total $1,372,501 · program services $1,028,861 · management and general $342,735 · fundraising $905

• 16 · Occupancy

  total $24,376,137 · program services $24,121,655 · management and general $240,737 · fundraising $13,745

• 17 · Travel

  total $449,863 · program services $404,711 · management and general $43,679 · fundraising $1,473

• 19 · Conferences, conventions and meetings

  total $219,290 · program services $173,786 · management and general $43,879 · fundraising $1,625

• 20 · Interest

  total $542,785 · program services $505,960 · management and general $35,686 · fundraising $1,139

• 22 · Depreciation, depletion and amortization

  total $2,950,509 · program services $2,734,268 · management and general $212,539 · fundraising $3,702

• 24a · Other expenses: MATERIALS AND SUPPLIES

  total $37,971,710 · program services $37,173,967 · management and general $766,494 · fundraising $31,249

• 24b · Other expenses: FREIGHT AND POSTAGE

  total $2,631,840 · program services $2,610,935 · management and general $20,557 · fundraising $348

• 24c · Other expenses: SERVICE CHARGES

  total $2,423,261 · program services $2,067,227 · management and general $353,492 · fundraising $2,542

• 24d · Other expenses: FLEET AND TRANSPORTATION

  total $2,122,533 · program services $2,108,967 · management and general $13,326 · fundraising $240

• 24e · All other expenses

  total $1,502,571 · program services $1,133,832 · management and general $358,647 · fundraising $10,092

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $7,164,291 · end of year $8,462,975

• 3 · Pledges and grants receivable

  end of year $463,589

• 4 · Accounts receivable

  beginning of year $18,121,533 · end of year $8,667,194

• 5 · Loans and receivables from officers and key people

  end of year $0

• 6 · Loans and receivables from disqualified persons

  end of year $0

• 7 · Other notes and loans receivable

  beginning of year $821,610 · end of year $550,000

• 8 · Inventories for sale or use

  beginning of year $22,763,415 · end of year $11,156,587

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,410,651 · end of year $2,384,134

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

  $97,633,148

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

  $50,412,904

• 10c · Land, buildings and equipment, net

  beginning of year $35,017,961 · end of year $47,220,244

• 11 · Investments: publicly traded securities

  beginning of year $5,266,155 · end of year $5,853,922

• 12 · Investments: other securities

  beginning of year $0

• 13 · Investments: program-related

  beginning of year $0

• 15 · Other assets

  beginning of year $48,672,022 · end of year $41,916,504

• 17 · Accounts payable and accrued expenses

  beginning of year $17,700,456 · end of year $15,100,834

• 19 · Deferred revenue

  beginning of year $12,125,730 · end of year $0

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $10,009,831 · end of year $8,290,352

• 25 · Other liabilities

  beginning of year $52,442,049 · end of year $45,038,785

• 27 · Net assets without donor restrictions

  beginning of year $46,959,572 · end of year $57,781,589

• 28 · Net assets with donor restrictions

  end of year $463,589

The filer's explanations (Part III)

Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan

INDIVIDUALS PARTICIPATE IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN. EMPLOYER DISTRIBUTIONS ARE INCLUDED IN COMPENSATION ON SCHEDULE J, PART II, COLUMN (B)(III). NO PAYMENTS WERE MADE TO ANY INDIVIDUAL DURING 2024.

Schedule J, Part I, Line 5a Compensation contingent on revenues of the organization

OUR ORGANIZATION MAINTAINS A COMPREHENSIVE INCENTIVE COMPENSATION PLAN FOR SENIOR MANAGEMENT. INCENTIVE PAYMENTS ARE MADE ONLY WHEN COMPANY-WIDE, DEPARTMENTAL, AND INDIVIDUAL PERFORMANCE GOALS ARE ACHIEVED. THE PURPOSE OF THE PLAN IS TO MOTIVATE EXECUTIVES TO MEET MISSION-RELATED OBJECTIVES AND PRODUCE MEASURABLE FINANCIAL AND OPERATIONAL RESULTS. PERFORMANCE MEASURES INCLUDE BOTH REVENUE-BASED AND MISSION-DRIVEN TARGETS. THE PLAN IS ADMINISTERED BY THE PRESIDENT AND CEO AND IS REVIEWED AND APPROVED BY THE COMPENSATION COMMITTEE.

Schedule J, Part I, Line 6a Compensation contingent on net earnings of the organization

THE ORGANIZATION MAINTAINS A PERFORMANCE-BASED INCENTIVE PROGRAM FOR SENIOR EXECUTIVES THAT MAY INCLUDE BONUSES CONTINGENT UPON ACHIEVING PREDETERMINED ORGANIZATIONAL GOALS. THESE GOALS INCORPORATE BOTH FINANCIAL PERFORMANCE, INCLUDING NET OPERATING RESULTS, AND MISSION-RELATED OUTCOMES. THE INTENT OF THE PROGRAM IS TO ENCOURAGE EFFECTIVE FINANCIAL STEWARDSHIP AND ADVANCEMENT OF THE ORGANIZATION'S MISSION. ALL INCENTIVE DETERMINATIONS ARE OVERSEEN BY THE PRESIDENT AND CEO AND ARE SUBJECT TO REVIEW AND APPROVAL BY THE COMPENSATION COMMITTEE.

Disregarded entities

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

• GOODWILL SOUTH FLORIDA TEP LLC

  PROVIDE TRAINING, EMPLOYMENT AND JOB PLACEMENT · FL · income $0 · assets $0

  Directly controlled by GOODWILL INDUSTRIES OF SOUTH FLORIDA INC