Better Business Bureau Report for
Goodwill Industries of Kentucky

Better Business Bureau Report issued October 2011
Better Business Bureau Report expires October 2013


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: Independent Industries, Incorporated, Goodwill Temporary Services, Goodwill Industries Works
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 87 plus 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 59 employment and training centers, known to the public as "thrift stores". 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, 2010, Goodwill Industries of Kentucky's program expenses were:

  
Work services 23,561,596
Vocational development 10,343,375
Total Program Expenses: $33,904,971
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Governance

               

Chief Executive : Roland R. Blahnik, President and CEO
Compensation*:

Chair of the Board: Jeffrey V. McGowan
Chair's Profession / Business Affiliation: Senior Vice President, Wells Fargo Insurance Services of Kentucky, Inc.

Board Size: 20

Paid Staff Size: 1208

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

               

Method(s) Used:

Goodwill Industries of Kentucky, Inc., raises funds through direct mail and website appeals, grants, and 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 2% of related contributions. (Related contributions, which totaled $12,895,258, 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 and its subsidiaries audited financial statements for the year that ended Septembe 30, 2010.

Ending net assets as reported below include $45,815,424 in unrestricted net assets , $54,299 in temporarily restricted net assets, and $256,017 in permanently restricted net assets.

Total assets as reported include $41,084,743 invested in property, land, and equipment.



Source of Funds  
Gross margin on sales of donated goods 22,479,509
Public support received directly 12,895,258
Agency revenue 8,317,800
Other revenue (interest income, permanently restricted net assets, miscellaneous revenue) 171,078
Public support received indirectly 11,968
Total Income $43,875,613


chart



Uses of Funds as a % of Total Expenses

Programs: 88%  Fund Raising: 1%  Administrative: 11% 

Total income   $43,875,613
  Program expenses $33,904,971
  Fund raising expenses 206,731
  Administrative expenses 4,279,219
 
Total expenses   $38,390,921
Income in Excess of Expenses   5,484,692
Beginning net assets   40,641,048
Ending net assets   46,125,740
Total liabilities   32,095,211
Total assets   $78,220,951


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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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