Overview
What is Memphis Goodwill Inc?
Memphis Goodwill Inc is a nonprofit organization based in Memphis, Tennessee, specifically located at 6899 Stage Rd, 38133. Their primary activity involves accepting donated goods, such as clothing and household items from the public, and reselling these items in community-based retail stores. The revenue generated directly supports their mission: transforming lives of people with disabilities and other employment barriers through education, empowerment, and work opportunities. The organization currently employs a total of 1292 individuals.
What are the reviews and ratings of this charity?
Charity Navigator Rating 79% - Three-Star out of Four Star Rating
Memphis Goodwill Inc has received a Three-Star rating from Charity Navigator, which reflects a solid commitment to accountability and financial management. The score is derived entirely from the organization’s accountability and finance practices, indicating a strong focus on operational transparency and integrity. The majority of the board members are independent, and the organization has comprehensive policies in place, including conflict of interest and whistleblower policies.
The financial health of Memphis Goodwill Inc is notably strong, with a program expense ratio of 90.91%, signifying that a large portion of its expenditures directly supports its charitable programs. Additionally, the organization has passed audits without any material diversion of assets, further reinforcing its credibility and responsible handling of funds.
However, the organization has room for improvement, particularly in its liabilities to assets ratio, which received a low score. This could indicate potential financial risks that the organization may need to address moving forward. Overall, Memphis Goodwill Inc demonstrates a strong foundation in accountability, benefiting its mission and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Memphis Goodwill Inc legitimate?
Memphis Goodwill Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Memphis Goodwill Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $290,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $11,996,383
For more financial information, click here
What is the mission statement of Memphis Goodwill Inc?
Memphis Goodwill Inc is a non-profit organization dedicated to making a difference in people's lives who face barriers to employment due to disabilities. Their mission is to empower and transform lives through the power of work, education, and empowerment. They achieve this by collecting donated goods from the public, such as clothing and household items, and reselling them in community-based retail stores. The revenue generated from the sales directly supports their mission, enabling them to provide opportunities for individuals with disabilities to gain employment and become self-sufficient. Memphis Goodwill's programs focus on improving employment prospects and overall well-being, offering a range of services that help individuals develop essential skills, secure employment, and advance in their careers.
Who is the CEO of Memphis Goodwill Inc?
Michael Martini is the President/Ceo of Memphis Goodwill Inc. The CEO's salary of Memphis Goodwill Inc is $290,000 and their total compensation is $312,382.
What is the revenue of Memphis Goodwill Inc?
Memphis Goodwill Inc's revenue in 2022 was $42,458,476.
Who are the executives of Memphis Goodwill Inc and what are their salaries?
The average compensation at Memphis Goodwill Inc during 2022 was $9,510. There are 1292 employees at Memphis Goodwill Inc.
Here are 10 key members and their salaries (Memphis Goodwill Inc's CEO's salary is $290,000 and their total compensation is $312,382):
- Compensation: $290,000
- Related: $0
- Other: $22,382
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $162,235
- Related: $0
- Other: $11,406
Where can I find the form 990 for Memphis Goodwill Inc?
Memphis Goodwill Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Memphis Goodwill Inc
Memphis Goodwill Inc, a nonprofit organization, is dedicated to transforming the lives of people with disabilities and those facing other employment barriers through the power of work, education, and empowerment. The mission of this charitable entity is twofold: it collects and resells donated goods from the public in its community-based retail stores, and the revenue generated from these sales is channeled directly towards achieving its mission.
Memphis Goodwill Inc's primary objective is to make a profound impact in the lives of its beneficiaries by providing them with employment opportunities. By accepting donations of clothing and household items from the public, the organization is able to generate income that fuels its programs designed to help those in need. The sale of these donated goods serves as a means to fund the organization's initiatives aimed at empowering individuals with disabilities and other employment barriers to become self-sufficient and contribute to their communities.
In essence, Memphis Goodwill Inc operates as a bridge between the donation of unwanted goods and the creation of opportunities for those facing challenges in securing employment. The organization's unwavering commitment to its mission ensures that every sale made in its retail stores contributes positively to the lives of the people it seeks to serve. Memphis Goodwill Inc's vision is to create a world where everyone, regardless of their abilities or circumstances, has the opportunity to work, learn, and grow.
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Impact
October, 2024
Memphis Goodwill Inc significantly impacts the community by providing a vital avenue for the collection and resale of donated goods, primarily clothing and household items. Through a network of community-based retail stores, they facilitate the recycling of goods, promoting sustainability while also supporting the local economy.
The revenue generated from these sales plays a crucial role in funding programs aimed at transforming the lives of individuals facing disabilities and various barriers to employment. By empowering these individuals through education, training, and job opportunities, Memphis Goodwill Inc fosters independence and self-sufficiency, helping them integrate into the workforce and contribute to society.
Beyond economic empowerment, the organization’s efforts also cultivate a sense of community, encouraging local residents to participate in philanthropy through their donations. This cycle of giving not only benefits the individuals receiving support but also enhances the overall social fabric of Memphis, fostering inclusivity and opportunity for all.
This information is meant to be a general summary of Memphis Goodwill Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: -$44,990
- Program Service Revenue: $28,879,042
- Gross Receipts: $42,503,466
Assets and Liabilities:
- Total Assets: $55,639,127
- Total Liabilities: $48,474,777
- Net Assets: $7,164,350
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SALE OF DONATED GOODS
Revenue
$27,370,311
E-COMMERCE
Revenue
$850,272
TARGETED BUYS REVENUE
Revenue
$293,905
MISC INCOME
Revenue
$238,231
JANITORIAL SERVICES REV
Revenue
$108,490
Organization Details
Founding Year
2008
Phone
(901) 323-6221Principal Officer
Michael Martini
Main Address
6899 STAGE RD, MEMPHIS, TN, 38133
NTEE Category
Code: P29 - Human services
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