Memphis Goodwill Inc
- Assets
- $55.6m
- Revenue
- $42.5m
- Investments
- $0.0
- Employees
- 1,292
- Location
- Memphis, TN
- Founding
- 02/2009
- Data as of
- 12/2022
- EIN
- 26-3445007
Organization Overview
Memphis Goodwill Inc is located in Memphis, TN. The organization was established in 2009. According to its NTEE Classification (P29) the organization is classified as: Thrift Shops, under the broad grouping of Human Services and related organizations. As of 12/2022, Memphis Goodwill Inc employed 1,292 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Memphis Goodwill Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Memphis Goodwill Inc generated $42.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $41.7m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
COLLECTION AND RESALE OF DONATED GOODS TO THE PUBLIC
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMPHIS GOODWILL ACCEPTS CLOTHING AND OTHER HOUSEHOLD DONATED GOODS FROM THE PUBLIC AND SELLS THESE DONATIONS IN GOODWILL COMMUNITY-BASED RETAIL STORES. REVENUE FROM THE SALE OF THE DONATED GOODS GOES DIRECTLY TOWARD SUPPORTING GOODWILL'S MISSION OF CHANGING THE LIVES OF PEOPLE WITH DISABILITIES AND OTHER BARRIERS TO EMPLOYMENT THROUGH THE POWER OF WORK, EDUCATION AND EMPOWERMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tony Martini President/ceo | OfficerTrustee | 40 | $290,000 |
Brian Williams Chairman | OfficerTrustee | 2 | $0 |
Deacon Bill Davis Board Member | Trustee | 2 | $0 |
Michael Robilio Board Member | Trustee | 2 | $0 |
Macky Sneed Board Member | Trustee | 2 | $0 |
Chad Harrell Board Member | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ryder Integrated Logistics Transportation Of Goods | 12/30/22 | $2,359,412 |
Cs&l Cpas Accounting Services | 12/30/22 | $994,528 |
United Healthcare Insurance Company Insurance | 12/30/22 | $950,511 |
Chris Woods Construction Co Construction | 12/30/22 | $687,282 |
Waste Management Trash Removal | 12/30/22 | $565,334 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $13,624,424 |
| Noncash contributions included in lines 1a–1f | $13,583,004 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,624,424 |
| Total Program Service Revenue | $28,879,042 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$44,990 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $42,458,476 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $290,000 |
| Compensation of current officers, directors, key employees. | $37,700 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,996,383 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $988,277 |
| Payroll taxes | $902,703 |
| Fees for services: Management | $26,400 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,398,595 |
| Advertising and promotion | $0 |
| Office expenses | $1,076,880 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,254,290 |
| Travel | $265,917 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $283,396 |
| Payments to affiliates | $171,452 |
| Depreciation, depletion, and amortization | $733,618 |
| Insurance | $545,728 |
| All other expenses | $204,888 |
| Total functional expenses | $41,658,923 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,543,128 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $113,393 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,015,821 |
| Prepaid expenses and deferred charges | $52,029 |
| Net Land, buildings, and equipment | $7,123,971 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,702,085 |
| Other assets | $40,088,700 |
| Total assets | $55,639,127 |
| Accounts payable and accrued expenses | $1,794,603 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $6,342,035 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $40,338,139 |
| Total liabilities | $48,474,777 |
| Net assets without donor restrictions | $7,164,350 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $55,639,127 |
Grants Awarded
Over the last fiscal year, Memphis Goodwill Inc has awarded $5,250 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
GOODWILL INDUSTRIES - BIG BEND PURPOSE: AIDE FOR HURRICANE | $5,000 |
UNIVERSITY OF MEMPHIS PURPOSE: REBOUNDERS 2018 SUPPORT | $250 |