Better Business Bureau Report for
Goodwill Industries of Kentucky

Better Business Bureau Report issued November 2015
Better Business Bureau Report expires November 2017


This BBB Accredited charity meets all 20 Standards for Charity Accountability and is a Seal Holder. Find out more...


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Charity Contact Information

Name: Goodwill Industries of Kentucky
Address: 1325 South 4th Street
  Louisville, KY 40208
Phone: 502-585-4945
Web Address: www.goodwillky.org
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Better Business Bureau Comments

Year, State Incorporated: 1923, Kentucky
Affiliates: None
Stated Purpose: Goodwill Industries of Kentucky helps people with disabilities or other disadvantages achieve and maintain employment to gain a better quality of life.

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Evaluation Conclusions

              

Goodwill Industries of Kentucky meets the 20 Standards for Charity Accountability.
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Programs

              

Goodwill Industries of Kentucky was established in 1923 and in its 92-year history, the organization has helped people throughout Kentucky with disabilities or other disadvantages achieve and maintain employment to gain a better quality of life. The organization operates 64 stores that provide employment and training opportunities. In addition to retail sales, these operations provide employment and job training as well as generate funds for other programs such as Adult Learning Centers and Workforce Development Center to ultimately help people achieve and maintain gainful employment.

For the fiscal year ended September 30, 2014, Goodwill Industries of Kentucky's program expenses were:

  
Work services 28,334,290
Vocational development 12,536,344
Total Program Expenses: $40,870,634
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Governance

              

Chief Executive : Amy Luttrell, President and CEO
Compensation*: 
$267,800

Chair of the Board: Charles F. Lambert III
Chair's Profession / Business Affiliation: Retired - Vice President, Associate & Business Services, Humana

Board Size: 15

Paid Staff Size: 1218

*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

              

Method(s) Used:

Methods of fund raising include direct mail, invitations to fund raising events, print advertisements, television, radio, grant proposals, internet, cause-related marketing. In addition, Goodwill also generates revenue from the sale of donated goods that are sold through a network of "thrift" stores that are operated by the organization.
Fund raising costs were 3% of related contributions. (Related contributions, which totaled $17,846,702, are donations received as a result of fund raising activities.)
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Tax Status

              

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

              

The following information is based on Goodwill Industries of Kentucky's audited financial statements - combined for the fiscal year ended September 30, 2014.

Ending net assets as reported below include $78,706,601 in unrestricted net assets , $123,169 in temporarily restricted net assets, and $250,090 in permanently restricted net assets.

Total assets as reported include $63,754,869 invested in property and equipment, net.



Source of Funds  
Gross margin on sale of donated and purchased goods 27,295,206
Public support received directly 17,846,702
Agency revenue 8,823,293
Other revenue (interest income, permanently restricted net assets, miscellaneous revenue) 215,749
Total Income $54,180,950


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Uses of Funds as a % of Total Expenses

Programs: 86%  Fund Raising: 1%  Administrative: 12%  Other Expenses: 1%

Total income $54,180,950
Program expenses $40,870,634
Fund raising expenses 569,235
Administrative expenses 5,661,679
Other Expenses 298,253
Total expenses $47,399,801
Income in Excess of Expenses 6,781,149
Beginning net assets 72,298,711
Ending net assets 79,079,860
Total liabilities 39,449,447
Total assets $118,529,307


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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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