Overview
What is Rappahannock Goodwill Stores And Services Inc?
Rappahannock Goodwill Stores and Services Inc, located in Fredericksburg, Virginia, is a nonprofit organization that accepts donated goods from the public, primarily clothing and household items. These donations are then sold in community-based retail stores and through e-commerce channels. The revenue generated from these sales supports and expands critical community programs and job placement services. The organization provides on-the-job training and various vocational services to individuals facing employment barriers. By creating local jobs, preparing people for employment success, and helping them overcome employment obstacles, Rappahannock Goodwill Stores and Services Inc aims to make a positive impact in its community.
Official website here: www.fredgoodwill.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 74%, Two-Star out of Four Star rating
Rappahannock Goodwill Stores And Services Inc has received a two-star rating from Charity Navigator, indicating room for improvement in its overall financial health and operational efficiency. While the organization excels in governance and accountability, boasting a perfect score in areas such as independent board member presence and audit oversight, its financial ratios raise concerns about sustainability and fundraising effectiveness.
Strengths of Rappahannock Goodwill include a high program expense ratio at 87.20%, reflecting a strong commitment to its mission-driven activities. The organization also demonstrates robust governance practices with comprehensive policies in place for conflict of interest, whistleblower protection, and document retention, ensuring transparency and ethical operations.
However, the nonprofit faces significant challenges, particularly highlighted by a low working capital ratio of 0.13 years and a high liabilities to assets ratio of 80.87%. These financial concerns suggest potential difficulties in covering short-term obligations and may impact its long-term viability. Additionally, the lack of fundraising efficiency indicates a need for improved strategies to enhance revenue generation.
This AI summary has been generated from information found on Charity Navigator.
Is Rappahannock Goodwill Stores And Services Inc legitimate?
Rappahannock Goodwill Stores And Services Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Rappahannock Goodwill Stores And Services 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $8,518,074
For more financial information, click here
Official website here: www.fredgoodwill.org
What is the mission statement of Rappahannock Goodwill Stores And Services Inc?
Rappahannock Goodwill Stores and Services Inc is dedicated to creating local job opportunities and helping individuals overcome employment barriers. Through the sale of donated goods in community-based retail stores and online, the organization generates revenue to support and expand essential programs and services. The donated goods are utilized not only for retail, but also for on-the-job training and vocational services, allowing people with employment challenges to gain valuable work experience. The mission of Rappahannock Goodwill is to make a difference in people's lives by providing them with the tools and resources needed to succeed in the workforce.
Official website here: www.fredgoodwill.org
Who is the CEO of Rappahannock Goodwill Stores And Services Inc?
Stephen A Cox is the Past Chair of Rappahannock Goodwill Stores And Services Inc. The CEO's salary of Rappahannock Goodwill Stores And Services Inc is $0 and their total compensation is $336,839.
Official website here: www.fredgoodwill.org
What is the revenue of Rappahannock Goodwill Stores And Services Inc?
Rappahannock Goodwill Stores And Services Inc's revenue in 2022 was $30,724,922.
Official website here: www.fredgoodwill.org
Who are the executives of Rappahannock Goodwill Stores And Services Inc and what are their salaries?
The average compensation at Rappahannock Goodwill Stores And Services Inc during 2022 was $13,268. There are 642 employees at Rappahannock Goodwill Stores And Services Inc.
Here are 19 key members and their salaries (Rappahannock Goodwill Stores And Services Inc's CEO's salary is $0 and their total compensation is $336,839):
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- Related: $336,839
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- Related: $105,607
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- Related: $124,737
- Other: $0
Official website here: www.fredgoodwill.org
Where can I find the form 990 for Rappahannock Goodwill Stores And Services Inc?
Rappahannock Goodwill Stores And Services Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.fredgoodwill.org
Learn more at the official website: www.fredgoodwill.org
Mission Statement of Rappahannock Goodwill Stores And Services Inc
Rappahannock Goodwill Stores and Services Inc is a locally-focused organization committed to creating jobs and helping people overcome employment barriers. Through its community-based retail stores and e-commerce platform, the nonprofit accepts and sells donated goods, generating revenue that supports its critical programs and services.
At the heart of Rappahannock Goodwill's mission is the creation of local employment opportunities. By selling donated goods in their retail stores and through e-commerce, the organization generates revenue that fuels their community initiatives. The nonprofit also utilizes its donated goods stores, recycling center, and outlet store to provide on-the-job training and various vocational services to individuals facing employment barriers.
In essence, Rappahannock Goodwill Stores and Services Inc transforms donated goods into opportunities for personal growth and employment success. By offering training and vocational services, the nonprofit helps people develop the necessary skills to secure and maintain employment, ultimately breaking the cycle of poverty and dependency.
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Impact
October, 2024
Rappahannock Goodwill Stores and Services Inc has a significant impact on the local community by creating job opportunities and offering essential support services to individuals facing barriers to employment. By accepting donations of clothing and household goods, it generates revenue that directly funds community-based programs and job placement services.
The organization operates retail stores, e-commerce platforms, a recycling center, and an outlet store, all of which contribute to its mission. It provides on-the-job training and vocational services to empower people, helping them build skills and confidence necessary for their careers. This approach not only benefits the individuals served but also enhances the community's economic vitality by fostering a more skilled and employable workforce. Through these initiatives, Rappahannock Goodwill plays a vital role in community improvement and supports individuals as they transition into meaningful employment.
This information is meant to be a general summary of Rappahannock Goodwill Stores And Services 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: $56,164
- Program Service Revenue: $16,406,409
- Gross Receipts: $30,726,903
Assets and Liabilities:
- Total Assets: $17,908,576
- Total Liabilities: $14,482,872
- Net Assets: $3,425,704
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SALES DONATED GOODS & SALVAGE
Revenue
$16,320,230
COMMERCIAL CLEANING
Revenue
$75,339
RECYCLING INCOME
Revenue
$10,840
Organization Details
Founding Year
2005
Phone
(540) 371-3070Principal Officer
Stephen A Cox
Main Address
4701 MARKET STREET SUITE A, FREDERICKSBURG, VA, 22408
Website
www.fredgoodwill.orgNTEE Category
Code: S11 - Community improvement
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