Form 990 for tax year 2024

Filed by GOODWILL OF ARKANSAS FOUNDATION INC.

Totals

Total revenue: $2,468,853
Total expenses: $483,283
Contributions and grants received: $0
Grants paid: $300,000
Program service revenue: $0
Investment income: $2,468,853
Other revenue: $0
Total assets, end of year: $87,823,254
Total liabilities, end of year: $0
Net assets or fund balances, end of year: $87,823,254
Program services expenses (Part IX): $300,000
Management and general expenses: $183,283
Fundraising expenses: $0
Program service expenses (Part III): $300,000

Program services were 62.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

2f · All other program service revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
3 · Investment income

total $2,468,853 · excluded $2,468,853
6c · Rental income or loss

real property $0 · personal property $0
7c · Gain or loss

securities $0 · other assets $0
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.

1 · Grants to domestic organizations and governments

total $300,000 · program services $300,000
11f · Fees: investment management

total $183,283 · program services $0 · management and general $183,283 · fundraising $0
11g · Fees: other

total $0 · program services $0 · management and general $0 · fundraising $0
24e · All other expenses

total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $0
2 · Savings and temporary cash investments

beginning of year $20,836,969 · end of year $18,974,710
3 · Pledges and grants receivable

beginning of year $0
4 · Accounts receivable

beginning of year $171,012 · end of year $119,262
5 · Loans and receivables from officers and key people

beginning of year $0 · end of year $0
6 · Loans and receivables from disqualified persons

beginning of year $0 · end of year $0
7 · Other notes and loans receivable

beginning of year $0
8 · Inventories for sale or use

beginning of year $0
9 · Prepaid expenses and deferred charges

beginning of year $0
10a · Land, buildings and equipment: cost or other basis

$0
10b · Land, buildings and equipment: accumulated depreciation

$0
10c · Land, buildings and equipment, net

beginning of year $0 · end of year $0
11 · Investments: publicly traded securities

beginning of year $0
12 · Investments: other securities

beginning of year $59,404,699 · end of year $68,729,282
13 · Investments: program-related

beginning of year $0
14 · Intangible assets

beginning of year $0
15 · Other assets

beginning of year $0 · end of year $0
17 · Accounts payable and accrued expenses

beginning of year $0
18 · Grants payable

beginning of year $0
19 · Deferred revenue

beginning of year $0
20 · Tax-exempt bond liabilities

beginning of year $0
21 · Escrow or custodial account liability

beginning 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 $0
24 · Unsecured notes and loans payable

beginning of year $0
25 · Other liabilities

beginning of year $0 · end of year $0
27 · Net assets without donor restrictions

beginning of year $80,412,680 · end of year $87,823,254
28 · Net assets with donor restrictions

beginning of year $0
29 · Capital stock, trust principal or current funds

beginning of year $0
30 · Paid-in or capital surplus, or land, building or equipment fund

beginning of year $0
31 · Retained earnings, endowment or other funds

beginning of year $0

Mission and programs · 2024

Mission

THE MISSION OF THE FOUNDATION IS TO ASSIST, THROUGH GRANTS AND CONTRIBUTIONS, GOODWILL INDUSTRIES OF ARKANSAS TO PERFORM ITS MISSION TO CHANGE LIVES THROUGH EDUCATION, TRAINING AND EMPLOYMENT.

Activities or mission (Part I)

THE FOUNDATION IS EXCLUSIVELY ORGANIZED AND OPERATED AS A SUPPORTING ORGANIZATION OF GOODWILL INDUSTRIES OF ARKANSAS, INC.

THE FOUNDATION IS EXCLUSIVELY ORGANIZED AND OPERATED AS A SUPPORTING ORGANIZATION OF GOODWILL INDUSTRIES OF ARKANSAS, INC.

Expenses $300,000 · Grants $300,000

As filed on the 2024 return.

Listed in Part VII

Brian F MarshBRIAN F MARSH

PRESIDENT AND CEO

Total calculated

$568,307

From this org

$0

From related orgs

$526,034

Other

$42,273

Hours/week

1 + 51 related

Schedule J breakdown matched by us

Base

$0 + $387,426 related

Bonus

$0 + $130,000 related

Other

$0 + $8,608 related

Deferred

$0 + $20,700 related

Nontaxable benefits

$0 + $21,573 related

Filer's total

$0 + $568,307 related
Douglas JacksonDOUGLAS JACKSON

Chair

Total calculated

$0

Hours/week

1 + 1 related
Fred Perkins IIIFRED PERKINS III

Director

Total calculated

$0

Hours/week

1 + 1 related
Gary StarkGARY STARK

Director

Total calculated

$0

Hours/week

1 + 1 related
Troy WellsTROY WELLS

Director

Total calculated

$0

Hours/week

1 + 1 related
Sylvia MurchisonSYLVIA MURCHISON

SR. VICE PRESIDENT & CHIEF FINANCIAL OFFICER

Total calculated

$287,686

From this org

$0

From related orgs

$270,695

Other

$16,991

Hours/week

1 + 51 related

Schedule J breakdown matched by us

Base

$0 + $231,540 related

Bonus

$0 + $32,464 related

Other

$0 + $6,691 related

Deferred

$0 + $15,448 related

Nontaxable benefits

$0 + $1,543 related

Filer's total

$0 + $287,686 related
Shannon BoshearsSHANNON BOSHEARS

SR. VICE PRESIDENT OF DEVELOPMENT

Total calculated

$215,028

From this org

$0

From related orgs

$193,118

Other

$21,910

Hours/week

1 + 50 related

Schedule J breakdown matched by us

Base

$0 + $163,957 related

Bonus

$0 + $24,256 related

Other

$0 + $4,905 related

Deferred

$0 + $11,292 related

Nontaxable benefits

$0 + $10,618 related

Filer's total

$0 + $215,028 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

4a · Severance or change-of-control payment
4b · Supplemental nonqualified retirement plan
4c · Equity-based compensation arrangement
5a · Pay contingent on this organization's revenues
5b · Pay contingent on a related organization's revenues
6a · Pay contingent on this organization's net earnings
6b · Pay contingent on a related organization's net earnings
7 · Other non-fixed payments
8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 3: GOODWILL INDUSTRIES OF ARKANSAS, A RELATED ORGANIZATION, USES A COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, FORM 990 OF OTHER ORGANIZATIONS, COMPENSATION SURVEY OR STUDY, AND APPROVAL OF THE BOARD TO ESTABLISH COMPENSATION OF THE CEO.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Goodwill Industries of Arkansas Inc

$300,000

Program Support

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

GOODWILL INDUSTRIES OF ARKANSAS INC

501(c)(3) · THRIFT STORES · AR

Directly controlled by NA
GOODWILL AR EDUCATION INITIATIVES

501(c)(3) · SCHOOL · AR · controlled entity

Directly controlled by GOODWILL

Provenance

Return type: form_990
Tax year: 2024
Filed: 18 March 2026
IRS schema version: 2024v5.1
Source object: 202630779349301253

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