2015-05-15T07:29:33-05:00 2014-12-31 560574444 CHERRY BEKAERT LLP 410 FIRST STREET ROANOKE VA 24011 990 2014-01-01 270953369 GOODWILL INDUSTRIES OF THE VALLEY WORKS GOOD 5405810620 2502 MELROSE AVE NW ROANOKE VA VA 24017 BRUCE PHIPPS PRESIDENT AND CEO 5405810620 2015-05-13 1 JANICE A RATICA P00358837 5403426911 2014 2016-03-07 17:11:31Z BRUCE PHIPPS 2502 MELROSE AVE NW ROANOKE VA 24017 40032874 0 X WWW.GOODWILLVALLEYS.COM X 2009 VA HELPING PEOPLE AND FAMILIES IN OUR COMMUNITY ACHIEVE A BETTER LIFE THROUGH WORK AND INDEPENDENCE. 15 15 1543 15 0 0 34272501 35639170 8400 0 9200 13000 1278609 1545553 35568710 37197723 0 0 0 0 15790763 17080725 0 0 0 15258710 16388219 31049473 33468944 4519237 3728779 18242416 21886746 1338622 1252943 16903794 20633803 TO HELP PEOPLE AND FAMILIES IN OUR COMMUNITY ACHIEVE A BETTER LIFE THROUGH WORK AND INDEPENDENCE. 0 0 25565133 DONATED GOODS- THE ORGANIZATION OPERATES RETAIL-TYPE THRIFT STORES AND COLLECTION CENTERS THAT PROCESS AND SELL DONATED GOODS SUCH AS LIGHTLY USED CLOTHING, SHOES, TOYS, HOME WARES AND VARIOUS OTHER ITEMS. AS THESE ITEMS ARE SOLD TO THE PUBLIC, THEY PROVIDE FUNDING FOR THE MISSION-BASED OPERATIONS AND ACTIVITIES OF BOTH GOODWILL INDUSTRIES OF THE VALLEY WORKS AND ITS PARENT COMPANY, GOODWILL INDUSTRIES OF THE VALLEYS, INC. 1936273 COMMERCIAL SERVICES- THE ORGANIZATION EMPLOYS INDIVIDUALS WITH MENTAL AND PHYSICAL DISABILITIES, AS WELL AS OTHER BARRIERS TO EMPLOYMENT, TO PROVIDE JANITORIAL AND OTHER SERVICES AND TO MANUFACTURE AND/OR PACKAGE CERTAIN PRODUCTS UNDER CONTRACTS WITH THIRD-PARTY COMPANIES AND ORGANIZATIONS. 1479691 24697 SALVAGE- NEARLY ALL DONATED GOODS (SEE 4A ABOVE) THAT ARE NOT SOLD TO THE PUBLIC WITHIN A REASONABLE TIME ARE GATHERED AND SOLD TO THIRD PARTY COMPANIES ON A PER POUND BASIS. THESE COMPANIES THEN RECYCLE OR RE-USE THESE ITEMS. THESE SALVAGE OPERATIONS ALSO ALLOW THE ORGANIZATION TO EMPLOY INDIVIDUALS WHO OTHERWISE HAVE BARRIERS TO EMPLOYMENT. 4487847 4487847 33468944 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 58 0 1 1543 1 0 0 0 0 0 0 0 0 0 0 1 0 X 15 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 VA X THE CORPORATION 5405810620 2502 MELROSE AVE NW ROANOKE VA 24017 CHUCK KISER DIRECTOR 1.00 1.00 X 0 0 0 JOHN CAPPS DIRECTOR 1.00 1.00 X 0 0 0 NEIL BIRKHOFF DIRECTOR 1.00 1.00 X 0 0 0 JAMES LAUB DIRECTOR 1.00 1.00 X 0 0 0 RHONDA SHANNON DIRECTOR 1.00 1.00 X 0 0 0 JEFFREY A VAN DOREN DIRECTOR 1.00 1.00 X 0 0 0 NATHANIEL MARSHALL DIRECTOR 1.00 1.00 X 0 0 0 SAM RASOUL DIRECTOR 1.00 1.00 X 0 0 0 ROY MARTIN DIRECTOR 1.00 1.00 X 0 0 0 LEAH GISSY DIRECTOR 1.00 1.00 X 0 0 0 MELINDA PAYNE DIRECTOR 1.00 1.00 X 0 0 0 LEWIS BISHOP CHAIR 1.00 1.00 X X 0 0 0 HARVEY BROOKINS JR VICE CHAIR 1.00 1.00 X X 0 0 0 EDWARD GARNER TREASURER 1.00 1.00 X X 0 0 0 KHALED HASSOUNA SECRETARY 1.00 1.00 X X 0 0 0 BRUCE PHIPPS PRESIDENT AND CEO 1.00 40.00 X 0 268250 31396 LORI STOHLMANN CFO THROUGH 7/19/14 1.00 40.00 X 0 102367 403 STEVEN KELLEY CFO FROM 10/6/14 1.00 40.00 X 0 21794 0 JACKSON G GREEN CHIEF OPERATIONS OFFICER 1.00 40.00 X 0 150091 14425 LINDA LAMONA SR. VICE PRESIDENT 1.00 40.00 X 0 146146 12468 PHIL JONES SR. VICE PRESIDENT 1.00 40.00 X 0 146919 13807 LINDA MATTHEWS SR. VICE PRESIDENT 1.00 40.00 X 0 141347 13108 0 976914 85607 0 0 1 0 RED HILL BUILDING SERVICES 1823 TAYLORS GAP ROAD NORTH GARDEN VA 22959 CONTRACTOR 302426 FIRST PIEDMONT PO DRAWER 1069 CHATHAM VA 24531 SERVICES 156517 WASTE MANAGEMENT OF BLUERIDGE PO BOX 13648 PHILADELPHIA PA 191013648 SERVICES 109686 3 35639170 35599299 35639170 13000 0 13000 13000 13000 4356007 2835151 1520856 1520856 MISCELLANEOUS REVENUE 561300 24697 24697 24697 37197723 24697 0 1533856 X 13429618 13429618 83464 83464 2476007 2476007 1091636 1091636 3890798 3890798 7450 7450 136218 136218 16979 16979 24107 24107 750411 750411 7965189 7965189 838947 838947 219114 219114 8183 8183 284491 284491 DIRECT EXPENSE 938918 938918 GIV - LEASE FEES 906748 906748 FREIGHT AND SHIPPING 185332 185332 DIRECT SUPPLIES & MATER 129669 129669 85665 85665 33468944 33468944 0 0 6621038 3592085 17631 6798 557091 839052 165910 197228 386180 431430 10494566 16820153 18242416 21886746 1274772 1234943 63850 18000 1338622 1252943 X 16903794 20633803 16903794 20633803 18242416 21886746 3728779 1230 0 X X 0 1 X 1 0 X X X 1 GOODWILL INDUSTRIES 540884014 7 1 11312235 0 1 11312235 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 DUE FROM AFFILIATE 16768255 DEPOSITS 51898 16820153 X PART X, LINE 2: THE ORGANIZATION QUALIFIES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE "CODE") AND THEREFORE IS NOT SUBJECT TO INCOME TAX UNDER THE PRESENT INCOME TAX LAWS. THE ORGANIZATION HAS BEEN CLASSIFIED AS A PUBLIC CHARITY UNDER SECTIONS 509(A)(3) OF THE CODE. AS A RESULT, CONTRIBUTIONS TO THE ORGANIZATION ARE DEDUCTIBLE UNDER SECTION 170 OF THE CODE. THE ORGANIZATION BELIEVES IT IS NO LONGER SUBJECT TO EXAMINATIONS OF ITS INCOME TAX RETURNS BY TAXING AUTHORITIES ON RETURNS FILED FOR YEARS BEFORE JANUARY 1, 2011. 1 1 0 0 0 1 1 0 0 BRUCE PHIPPS PRESIDENT AND CEO 0 249572 0 12000 0 6678 0 12548 0 18848 0 299646 0 0 JACKSON G GREEN CHIEF OPERATIONS OFFICER 0 145345 0 3000 0 1746 0 8000 0 6425 0 164516 0 0 LINDA LAMONA SR. VICE PRESIDENT 0 141225 0 3000 0 1921 0 5751 0 6717 0 158614 0 0 PHIL JONES SR. VICE PRESIDENT 0 139306 0 3000 0 4613 0 7123 0 6684 0 160726 0 0 LINDA MATTHEWS SR. VICE PRESIDENT 0 137954 0 3000 0 393 0 6444 0 6664 0 154455 0 0 PART I, LINE 3 ALL COMPENSATION FOR THE CEO AND THE EXECUTIVE TEAM ARE PAID BY THE RELATED ORGANIZATION, GOODWILL INDUSTRIES OF THE VALLEYS INC. THE COMPENSATION IS APPROVED BY A COMPENSATION COMMITTEE COMPRISED OF INDEPENDENT BOARD MEMBERS. THE COMMITTEE RECEIVES AN ANNUAL MARKET VALUATION OF COMPENSATION FROM AN INDEPENDENT THIRD PARTY PROVIDER. COMPARISONS ARE CONCENTRATED ON TOP POSITIONS AT TAX-EXEMPT ORGANIZATIONS WITH AN OPERATING BUDGET OF APPROXIMATELY $45-50 MILLION. PART I, LINES 4A-B THE CEO'S EMPLOYER MATCH AMOUNT FOR THE 403B PLAN WAS $2,503 AND FOR THE 457 PLAN THE MATCH WAS $10,045 FOR 2014. PART I, LINE 6 BONUS COMPENSATION OF PERSONS LISTED IN FORM 990,PART VII, SECTION A, LINE 1A IS DETERMINED ON A SET AMOUNT PER OFFICER IF ALL GOALS SET FORTH IN THE 2014 INCENTIVE COMPENSATION PLAN ARE MET.INCENTIVE PLANS INCLUDING AMOUNTS AND GOALS ARE APPROVED BY THE INDEPENDENT BOARD AT THE ONSET OF THE YEAR AND ACCRUED THROUGHOUT THE YEAR BASED ON PROGRESS. GOALS INCLUDE PLACING PEOPLE INTO COMPETITIVE EMPLOYMENT, GENERATING A BASE NET PROFIT % FOR THE YEAR, TRANSITIONING 25% OF 14(C) PARTICIPANTS, AND ACHIEVING AN EMPLOYEE ACCIDENT RATE OF 4% OR LOWER. FINAL DETERMINATION AND PAYMENT IS APPROVED UPON RECEIPT OF AN UNQUALIFIED AUDIT OPINION FROM THE INDEPENDENT AUDITORS. PART I, LINE 4A: THE OUTGOING CHIEF FINANCIAL OFFICER, LORI STOHLMANN, WAS GIVEN A SEVERANCE PACKAGE OF $20,000. X 32282244 RESALE VALUE X 95 58056 AUCTION PRICE X 1 100 AUCTION PRICE X SALVAGE 0 3258899 MARKET PRICE PER POU 0 0 0 1 PART I, LINE 32B: GOODWILL CONTRACTS WITH A THIRD PARTY PROVIDER TO PROCESS AND SELL THE DONATED VEHICLES. THE THIRD PARTY PROVIDER MANAGES THE PROCESS WHICH INCLUDES THE INITIAL CALLS, PICK UP OF VEHICLES, AUCTIONS, AND PAPERWORK PROCESSING SUCH AS THE REPORTING OF FORMS 1098-C. THE ORGANIZATION RECEIVES REPORTS ON THE ACTUAL REVENUE RECEIVED FROM THE SALES. THESE REPORTED REVENUE AMOUNTS ARE THEN RECORDED IN THE FINANCIAL STATEMENTS. ALL OTHER DONATIONS ARE RECORDED AT EITHER ACTUAL FAIR MARKET VALUE RECEIVED OR ESTIMATED RESALE VALUE. FORM 990, PART VI, SECTION B, LINE 11 THE INDEPENDENT AUDIT AND COMPLIANCE COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS THE FORM 990 BEFORE IT IS SIGNED BY THE CEO AND ELECTRONICALLY SUBMITTED TO THE IRS. THE FORM 990 IS DISTRIBUTED TO ALL BOARD MEMBERS BEFORE FILING THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD MEMBERS MUST COMPLETE AND SIGN A DISCLOSURE FORM ANNUALLY THAT STATES THEY HAVE READ, AGREE WITH, AND ABIDE BY THE ORGANIZATION'S CONFLICT OF INTEREST POLICY. ANY GOVERNING BOARD MEMBER HAVING A DUALITY OF INTEREST OR POSSIBLE CONFLICT OF INTEREST ON ANY MATTER SHOULD NOT VOTE OR USE HIS PERSONAL INFLUENCE ON THE MATTER, AND HE SHOULD NOT BE COUNTED IN DETERMINING THE QUORUM FOR THE MEETING, EVEN WHEN PERMITTED BY LAW. THE MINUTES OF THE MEETING SHOULD REFLECT THAT A DISCLOSURE WAS MADE, THE ABSTENTION FROM VOTING, AND THE QUORUM SITUATION. FORM 990, PART VI, SECTION B, LINE 15 ALL COMPENSATION FOR THE CEO AND THE EXECUTIVE TEAMS ARE PAID BY THE RELATED ORGANIZATION, GOODWILL INDUSTRIES OF THE VALLEYS INC. THE CEO COMPENSATION IS APPROVED BY A COMPENSATION COMMITTEE COMPRISED OF INDEPENDENT BOARD MEMBERS. THE COMMITTEE RECEIVES AN ANNUAL MARKET VALUATION OF COMPENSATION FROM AN INDEPENDENT THIRD PARTY PROVIDER. THE COMPENSATION COMPARISONS ARE CONCENTRATED ON TOP POSITIONS AT TAX-EXEMPT ORGANIZATIONS WITH AN OPERATING BUDGET OF APPROXIMATELY $45-50 MILLION.DISCUSSIONS OF COMPENSATION ARE RECORDED IN THE BOARD MINUTES. FORM 990, PART VI, SECTION C, LINE 19 GOODWILL MAKES GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. FORM 990 PART IX: MANAGEMENT EXPENSES OF THE ORGANIZATION ARE REPORTED IN THE RELATED ENTITY GOODWILL INDUSTRIES OF THE VALLEYS. THE MANAGEMENT TO TOTAL EXPENSE RATIO PER THE AUDITED FINANCIAL STATEMENTS IS 11.24% IN THE CURRENT YEAR. FORM 990, PART XII, LINE 2B: GOODWILL INDUSTRIES OF THE VALLEYS, INC. PREPARES CONSOLIDATED FINANCIAL STATEMENTS WHICH ARE AUDITED BY AN INDEPENDENT ACCOUNTING FIRM. GOODWILL INDUSTRIES OF THE VALLEYS, INC. IS CONSOLIDATED WITH GOODWILL INDUSTRIES OF THE VALLEY WORKS WHICH IS REPORTED ON A SEPARATE 990 FORM. FORM 990, PART XII, LINE 2C: THE INDEPENDENT AUDIT AND COMPLIANCE COMMITTEE OF THE BOARD OF DIRECTORS IS RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT. THEY MEET WITH THE AUDITORS PRIOR TO THE COMMENCEMENT OF THE ANNUAL AUDIT; THEY ALSO REVIEW THE AUDITED FINANCIALS WHEN THEY ARE COMPLETED BY THE INDEPENDENT AUDITORS. AFTER REVIEW AND ACCEPTANCE, THE FINANCIALS ARE DISTRIBUTED TO ALL BOARD MEMBERS. THE PERFORMANCE OF THE EXTERNAL AUDITORS IS DISCUSSED ANNUALLY, AND WHEN NECESSARY, THIS SAME COMMITTEE IS INVOLVED IN THE RFP FOR SERVICES, INCLUDING THE REVIEW OF PROPOSALS AND SELECTION OF THE WINNING PROPOSAL. GOODWILL INDUSTRIES OF THE VALLEYS INC 2502 MELROSE AVENUE NW ROANOKE VA 24017 540884014 CHARITABLE ACTIVITY VA 501(C)(3) LINE 7 0 0 0 0 1 0 0 0 0 0 0 1 0 1 1 1 0 0 1 0 GOODWILL INDUSTRIES OF THE VALLEYS INC D 16768255 INTERCOMPANY BALANCES GOODWILL INDUSTRIES OF THE VALLEYS INC K 906748 EXPENSES INCURRED BY VALLEYS GOODWILL INDUSTRIES OF THE VALLEYS INC M 3890798 MANAGEMENT EXPENSES GOODWILL INDUSTRIES OF THE VALLEYS INC R 6514689 EXPENSES INCURRED BY VALLEYS PART II, LINE 1B RAISE FUNDS TO SUPPORT PEOPLE WITH DISABILITIES AT GOODWILL INDUSTRIES OF THE VALLEYS, INC.