Civic Intelligence

Goodwill Manufacturing Inc.

990 • Fiscal year 2020 • EIN 35-2531359

Jan 01, 2020 to Dec 31, 2020 • Filed on Jun 11, 2021

5400 South 60th StreetGreendale, WI 53129

(414) 847-4200

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

99th percentile

2.78x

Higher debt load relative to assets than 99% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

97th percentile

11.96x

Higher debt load relative to revenue than 97% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Net Margin

3rd percentile

-147%

Higher net margin than 3% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

94th percentile

$728,982

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 26.3% of source-year revenue.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Asset Growth

2nd percentile

-25%

Faster asset growth than 2% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

4th percentile

-63%

Faster revenue growth than 4% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Assets

Down

$11,912,944

Down $3,955,047 (-25%) from 2019

Net Assets

Down

-$21,232,255

Down $4,130,457 (-24%) from 2019

Liabilities

Up

$33,145,199

Up $175,410 (+0.5%) from 2019

Revenue

Down

$2,770,416

Down $4,672,460 (-63%) from 2019

Expenses

Down

$6,848,231

Down $5,650,315 (-45%) from 2019

Net Income

Up

-$4,077,815

Up $977,855 (+19%) from 2019

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$50M$0-$50MAssets 2017: $14,748,285Liabilities 2017: $18,045,242Net Assets 2017: -$3,296,9572017Assets 2018: $11,672,381Liabilities 2018: $23,718,509Net Assets 2018: -$12,046,1282018Assets 2019: $15,867,991Liabilities 2019: $32,969,789Net Assets 2019: -$17,101,7982019Assets 2020: $11,912,944Liabilities 2020: $33,145,199Net Assets 2020: -$21,232,2552020Assets 2021: $3,795,340Liabilities 2021: $28,437,974Net Assets 2021: -$24,642,6342021Assets 2022: $2,715,300Liabilities 2022: $31,405,024Net Assets 2022: -$28,689,7242022Assets 2023: $2,834,162Liabilities 2023: $36,767,735Net Assets 2023: -$33,933,5732023Assets 2024: $571,557Liabilities 2024: $40,914,512Net Assets 2024: -$40,342,9552024

Highlighted filing

2020

Assets$11,912,944
Liabilities$33,145,199
Net Assets-$21,232,255

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$20M$10M$0-$10MRevenue 2017: $8,362,594Expenses 2017: $17,267,742Net Income 2017: -$8,905,1482017Revenue 2018: $4,707,425Expenses 2018: $13,456,596Net Income 2018: -$8,749,1712018Revenue 2019: $7,442,876Expenses 2019: $12,498,546Net Income 2019: -$5,055,6702019Revenue 2020: $2,770,416Expenses 2020: $6,848,231Net Income 2020: -$4,077,8152020Revenue 2021: $2,579,295Expenses 2021: $5,989,674Net Income 2021: -$3,410,3792021Revenue 2022: $3,137,995Expenses 2022: $7,185,085Net Income 2022: -$4,047,0902022Revenue 2023: $4,915,014Expenses 2023: $10,158,863Net Income 2023: -$5,243,8492023Revenue 2024: $3,008,430Expenses 2024: $7,331,295Net Income 2024: -$4,322,8652024

Highlighted filing

2020

Revenue$2,770,416
Expenses$6,848,231
Net Income-$4,077,815
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Jun 11, 2021
Return Version
2020v4.1
Gross Receipts
$2,827,805
Mission and Program Overview

Mission

Goodwill Manufacturing, Inc. ("Goodwill Manufacturing") is a nonstock, not-for-profit Wisconsin corporation, whose sole member is Goodwill Industries of Southeastern Wisconsin, Inc. ("Goodwill"), a Wisconsin nonstock, not-for-profit corporation with 501(c)(3) status. Goodwill Manufacturing shares the mission of its parent company, which is to provide training, employment, and supportive services for people with disabilities or disadvantages who seek greater independence. Such disabilities or disadvantages include physical or intellectual disabilities, mental health issues, skill limitations, lack of education and job preparation, communication challenges, and other socio-economic disadvantages. Goodwill pursues its mission in two ways. The first is by employing people with disabilities and disadvantages within the organizations own operations. The second is by providing social services, community programs, vocational training, transitional employment, employment services, and supportiv

Provides training, employment & supportive services to people with disabilities or disadvantages.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$5,044,072$2,931,438▼ $2,112,634
Land, Buildings, and Equipment, Net$1,401,149$1,141,516▼ $259,633
Prepaid Expenses and Deferred Charges$127,319$251,987▲ $124,668
Accounts Receivable$601,962$201,272▼ $400,690
Inventories for Sale or Use$48,500$0▼ $48,500
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$15,867,991$11,912,944▼ $3,955,047
Other Assets Total$8,644,989$7,386,731▼ $1,258,258
Liabilities
Other Liabilities$32,531,495$32,736,926▲ $205,431
Accounts Payable and Accrued Expenses$438,294$408,273▼ $30,021
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$32,969,789$33,145,199▲ $175,410
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-17,101,798$-21,232,255▼ $4,130,457
Total Net Assets Fund Balance$-17,101,798$-21,232,255▼ $4,130,457
Total Liabilities and Net Assets / Fund Balance$15,867,991$11,912,944▼ $3,955,047

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$993,884$484,695$1,478,579
Equipment$147,632$459,749$607,381
Other Assets Org$7,386,731--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Christopher PierDirectorFT$109,372$20,676$130,048

Board Members and Trustees

NameTitle
Robert KlugChair
Jacqueline HallbergPresident & CEO
Richard MeeusenVice Chair
Basil BuchkoAsst. Secretary - as of 5/2020
Steven LoosAsst. Secretary - Thru 5/2020
Jeffrey DocalavichAsst. Treasurer
Billie TorrenttFormer Chief Operating Officer
Thomas SavageSecretary
Irene SudacTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$326,473
Program Service Revenue
$1,196,272
Investment Income
$124,634
Other Revenue
$1,123,037
All Other Contributions
$326,473
Change in Net Assets
$-4,077,815

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table1,570$326,372Net Selling Price
Total Noncash Contributions1,570$326,372-

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,435,708
Revenue Not Reported on Financial Statements
$334,708
Revenue Not Reported on Form 990
$466,014
Other Revenue Adjustments
$334,708
Total Revenue per Audited Statements
$2,901,722
Total Revenue per Form 990
$2,770,416
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,672,336
Other Expenses$3,175,895
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,932,026--$2,932,026
Other Expenses$798,498$1,041,671-$798,498
Other Employee Benefits$476,042--$476,042
Depreciation Depletion$441,979--$441,979
Occupancy$316,230--$316,230
Payroll Taxes$220,877--$220,877
Travel$171,057--$171,057
Office Expenses$165,820--$165,820
Fees for Services Other$154,268--$154,268
Pension Plan Contributions$43,391--$43,391
Insurance$36,403--$36,403
Information Technology$21,897--$21,897
Interest$17,747--$17,747
Conferences and Meetings$11,372--$11,372
Fees for Services Legal$-1,047--$-1,047
Total Functional Expenses$5,806,560$1,041,671$0$6,848,231

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$6,980,967
Total Expenses per Form 990$6,848,231
Expenses per Audited Statements$6,514,953
Expenses Not Reported on Form 990$466,014
Expenses Not Reported on Financial Statements$333,278
Other Expense Adjustments$333,278
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Affiliated Goodwills$25,093,148
Lease Liabilities$7,643,778
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

Members or stockholders goodwill is the sole corporate member of goodwill manufacturing.

Form 990, Part VI, Section A, Line 7A

Members or stockholders who may elect governing body goodwill is the sole corporate member and in this capacity elects the board of directors of goodwill manufacturing.

Form 990, Part VI, Section A, Line 7B

Members or stockholders who may approve decisions goodwill is the sole corporate member and in this capacity approves the actions of goodwill manufacturing.

Form 990, Part VI, Section B, Line 11B

Form 990 review members of the audit, risk and compliance committee of the board of directors reviewed the form at its may 26, 2021 committee meeting. In addition, members of the full board were provided with an electronic copy of the form on may 26, 2021.

Form 990, Part VI, Section B, Line 12C

Written conflict of interest policy goodwill industries of southeastern wisconsin, inc., and affiliates ("goodwill") maintains a conflict of interest policy ("policy"). The purpose of the policy is to protect goodwill's interests when contemplating entering into a transaction or arrangement that might benefit the financial interest of an interested person such as an officer, director, or key employee of goodwill. An interested person must disclose the existence of his or her financial interest and all material facts related to the proposed transaction or arrangement. After such disclosure, he or she shall recuse himself or herself during the discussion of, and the vote on, the proposed transaction, whether the transaction reflects fair market value, has no bearing on the relationship, and is in the best interest of the organization.

Form 990, Part VI, Section B, Line 15

Compensation determination goodwill industries of southeastern wisconsin, inc. And affiliates' ("goodwill") compensation package includes a salary, defined contribution plan and health and welfare benefits. Goodwill engaged an independent firm to assess reasonableness of its compensation package for top management positions. The firm assessed compensation using survey data representing similar positions based on industry, revenue, number of employees and other peer group data. The report was reviewed by the human resources and compensation committee ("committee") of the board of directors and compensation for goodwill's top management positions was approved by a committee vote.

Form 990, Part VI, Section C, Line 18

Public availability goodwill industries of southeastern wisconsin, inc. And affiliates ("goodwill") posts its governing documents, annual reports, financial statements and forms 990 to its website. Goodwill also makes this information, and other required disclosures, available upon request.

Form 990, Part VI, Section C, Line 19

Refer to narrative listed on line 18. Form 990, part vii compensation from a related organization goodwill manufacturing does not directly compensate its officers. The filing organization relies on its parent organization, goodwill industries of southeastern wisconsin, inc., to facilitate its compensation. The compensation listed in form 990, part vii is the total compensation paid by the parent organization to manage the parent organization and its related organizations, including goodwill manufacturing.

Filing and Contact Details

Filer

Filer Name
Goodwill Manufacturing Inc
EIN
35-2531359
Phone
4148474200
Address
5400 SOUTH 60TH STREET, GREENDALE, WI 53129

Signing Officer

Name
Jeffrey Docalavich
Title
CFO
Phone
4148474200
Signed
2021-06-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jacqueline Hallberg
Formed
2015
Legal Domicile
Wi
Voting Board Members
4
Independent Board Members
4
Employees
126
Volunteers
5

Preparer

Firm
Grant Thornton Llp
Address
100 E WISCONSIN AVE, MILWAUKEE, WI 53202
Preparer
Michelle L Weber
Phone
4142898200
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 1

501(c)(3) status. Goodwill manufacturing shares the mission of its parent company, which is to provide training, employment, and supportive services for people with disabilities or disadvantages who seek greater independence. Such disabilities or disadvantages include physical or intellectual disabilities, mental health issues, skill limitations, criminal background, lack of education and job preparation, communication challenges, and other socio-economic disadvantages. Goodwill pursues its mission in two ways. The first is by employing people with disabilities and disadvantages within the organization's own operations. The second is by providing social services, community programs, vocational training, transitional employment, employment services, and supportive services for individuals in southeastern wisconsin and northern illinois who have disabilities or are disadvantaged or have other special needs, in order to enhance their employment opportunities, prevent or alleviate rehabilitation problems, and facilitate their ability to live independently in the community. Beginning with its first workshop in a milwaukee church basement, where donations were sorted and prepared for sale in a small store nearby, goodwill has offered what its founder described as "a chance, not charity" to people who were labeled unemployable. To fulfill its primary purposes of employment and self-sufficiency for people with disabilities or disadvantages, goodwill takes an entrepreneurial approach. Over the years, goodwill has pursued a variety of enterprises in order to help prepare individuals for employment and place them in jobs both in the community and within goodwill's own operations. Goodwill manufacturing is one of those enterprises; it provides a variety of industrial services to private companies, including commercial laundry services, electronic recycling, and document destruction. Goodwill manufacturing promotes the mission of goodwill by creating opportunities to employ individuals with disadvantages and/or disabilities, as well as providing on-the-job training and support.

Form 990, Part III, Line 3

During 2020, goodwill manufacturing ceased conducting two program service activities. The e-cycling program service activities were discontinued during 2020. Additionally, as of 12/31/2020 the datashield operation was sold to an unrelated organization. Goodwill manufacturing continues its support of the mission of goodwill through the training programs integrated into its laundry operations.

FORM 990, PART XI, LINE 9:

Payroll tax credit allocation -42,642.

Financial Statement Notes

PART X, LINE 2:

Liability for accounting for uncertainty in income taxes goodwill industries of southeastern wisconsin, inc., goodwill industries of metropolitan chicago, inc., goodwill retail services, inc. And goodwill manufacturing, inc. Have received determination letters from the internal revenue service (irs) indicating that they are exempt from federal income taxes, except for taxes pertaining to unrelated business income under section 501(c)(3) of the internal revenue code. Goodwill talentbridge, llc has been organized as a limited liability company and, accordingly, is not subject to federal or state income taxes. All income tax attributes of the entity are passed through to its sole member, goodwill industries of southeastern wisconsin, inc. The entity is included in the consolidated information return filed by goodwill industries of southeastern wisconsin, inc. The financial accounting standards board (fasb) issued guidance related to the uncertainty of income tax positions, which clarifies the accounting for uncertainty in income taxes recognized in an organization's financial statements and requires additional disclosure. Goodwill recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the relevant tax authority. As of december 31, 2020 and 2019, goodwill does not believe there is any uncertainty with respect to its tax positions. Goodwill files information returns in the u.s. Federal and the states of wisconsin and illinois jurisdictions. Tax years open under the federal statute of limitations include 2017 through 2020. Tax years open under the state of wisconsin and state of illinois statutes include 2016 through 2020. Goodwill had not historically filed any unrelated business income tax returns but filed in 2018 for federal and the states of wisconsin and illinois jurisdictions. Due to tax reform legislation, these income tax returns have been amended and the organization does not plan to file for 2020 or 2019, except in wisconsin. Tax years remain open for years in which an income tax return has not been filed.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Cost of goods sold included on revenue statement 48,500. In-kind contributions recognized for book purposes at retail value 374,872. Payroll tax credit allocation 42,642.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Waxdale margin 333,278. Intercompany elimination 1,430.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Cost of goods sold included on revenue statement 48,500. In-kind contributions recognized for book purposes at retail value 374,872. Payroll tax credit allocation 42,642.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

WAXDALE MARGIN 333,278.

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IRS990/Desc0GOODWILL MANUFACTURING OPERATIONS, INCLUDING COMMERCIAL LAUNDRY SERVICES, ELECTRONIC RECYCLING AND DOCUMENT DESTRUCTION CREATE EMPLOYMENT OPPORTUNITIES FOR LOCAL RESIDENTS, MANY WITH DISABILITIES OR DISADVANTAGES. GOODWILL INDUSTRIES OF SOUTHEASTERN WISCONSIN, INC. IS PROUD OF ITS COMMITMENT TO PRESERVING THE ENVIRONMENT. THERE ARE MANY WAYS THAT GOODWILL IS GREEN, FROM RECYCLING AND UPCYCLING EFFORTS TO THE USE OF GREEN PRINCIPLES IN ITS FACILITIES. GOODWILL MANUFACTURING WORKS TO CREATE A POSITIVE ENVIRONMENTAL IMPACT, PREVENT POLLUTION, AND MEET APPLICABLE LEGAL AND ORGANIZATIONAL REQUIREMENTS. WE WORK CLOSELY WITH ENVIRONMENTAL AND SAFETY GROUPS AS NEEDED, (CONTINUED ON SCHEDULE O) INCLUDING SITE AUDITS OF GOODWILL OPERATIONS.LAUNDRYGOODWILL OPERATES A COMMERCIAL LAUNDRY ON THE NORTHWEST SIDE OF MILWAUKEE WHICH HOLDS ACCREDITATION FROM THE HEALTH CARE LAUNDRY ACCREDITATION COUNCIL (HLAC). IN 2020, GOODWILL MANUFACTURING'S LAUNDRY OPERATION PROCESSED APPROXIMATELY 1.5 MILLION POUNDS OF LAUNDRY AND PROVIDED ONSITE LINEN SERVICES TO LOCAL HEALTHCARE PROVIDERS. THE LAUNDRY OPERATION PROVIDES WORK OPPORTUNITIES AND SKILL DEVELOPMENT FOR INDIVIDUALS WITH DISABILITIES AND DISADVANTAGES/OTHER BARRIERS TO EMPLOYMENT. GOODWILL E-CYCLEWITH THE RAPID PACE OF TECHNOLOGY, THE LIFE CYCLE OF ELECTRONIC COMPONENTS IS GETTING SHORTER AND SHORTER, CREATING MORE E-WASTE THAN EVER BEFORE. GOODWILL E-CYCLE, THE SECURE ELECTRONICS RECYCLING BUSINESS FOR COMMERCIAL AND RESIDENTIAL ELECTRONIC WASTE, HELPS TO KEEP MILLIONS OF POUNDS OF COMPUTER AND COMPUTER-RELATED COMPONENTS OUT OF LANDFILLS. IN 2020, GOODWILL E-CYCLE HELD THE FOLLOWING CERTIFICATIONS: ISO 14000:2015, OHSAS 18001:2007 AND R2:2013, WHICH INDICATES A HIGH-LEVEL COMMITMENT TO THE SAFETY AND SECURITY OF THE COMPUTERS, TABLETS, AND OTHER COMPONENTS THAT ARE GIVEN TO US. IN 2020, OVER 573 THOUSAND POUNDS OF ELECTRONICS WERE RECYCLED. GOODWILL DATASHIELDGOODWILL DATASHIELD IS DEDICATED TO SECURE DOCUMENT DESTRUCTION FOR COMMERCIAL CUSTOMERS. GOODWILL DATASHIELD IS A MEMBER OF THE NATIONAL ASSOCIATION FOR INFORMATION DESTRUCTION (NAID) AND IN 2020 SHREDDED AND RECYCLED MORE THAN 1.5 MILLION POUNDS OF DOCUMENTS.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt1ASST. SECRETARY - THRU 5/2020
IRS990/Form990PartVIISectionAGrp/TitleTxt2ASST. TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3FORMER CHIEF OPERATING OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt4ASST. SECRETARY - AS OF 5/2020
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt7VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt8SECRETARY
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IRS990/MissionDesc0GOODWILL MANUFACTURING, INC. ("GOODWILL MANUFACTURING") IS A NONSTOCK, NOT-FOR-PROFIT WISCONSIN CORPORATION, WHOSE SOLE MEMBER IS GOODWILL INDUSTRIES OF SOUTHEASTERN WISCONSIN, INC. ("GOODWILL"), A WISCONSIN NONSTOCK, NOT-FOR-PROFIT CORPORATION WITH (CONTINUED ON SCHEDULE O)
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0GOODWILL INDUSTRIES OF SE WI INC
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0ROU ASSETS
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1LEASE LIABILITIES
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0LIABILITY FOR ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES GOODWILL INDUSTRIES OF SOUTHEASTERN WISCONSIN, INC., GOODWILL INDUSTRIES OF METROPOLITAN CHICAGO, INC., GOODWILL RETAIL SERVICES, INC. AND GOODWILL MANUFACTURING, INC. HAVE RECEIVED DETERMINATION LETTERS FROM THE INTERNAL REVENUE SERVICE (IRS) INDICATING THAT THEY ARE EXEMPT FROM FEDERAL INCOME TAXES, EXCEPT FOR TAXES PERTAINING TO UNRELATED BUSINESS INCOME UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. GOODWILL TALENTBRIDGE, LLC HAS BEEN ORGANIZED AS A LIMITED LIABILITY COMPANY AND, ACCORDINGLY, IS NOT SUBJECT TO FEDERAL OR STATE INCOME TAXES. ALL INCOME TAX ATTRIBUTES OF THE ENTITY ARE PASSED THROUGH TO ITS SOLE MEMBER, GOODWILL INDUSTRIES OF SOUTHEASTERN WISCONSIN, INC. THE ENTITY IS INCLUDED IN THE CONSOLIDATED INFORMATION RETURN FILED BY GOODWILL INDUSTRIES OF SOUTHEASTERN WISCONSIN, INC. THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ISSUED GUIDANCE RELATED TO THE UNCERTAINTY OF INCOME TAX POSITIONS, WHICH CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ORGANIZATION'S FINANCIAL STATEMENTS AND REQUIRES ADDITIONAL DISCLOSURE. GOODWILL RECOGNIZES THE FINANCIAL STATEMENT BENEFIT OF A TAX POSITION ONLY AFTER DETERMINING THAT THE RELEVANT TAX AUTHORITY WOULD MORE LIKELY THAN NOT SUSTAIN THE POSITION FOLLOWING AN AUDIT. FOR TAX POSITIONS MEETING THE MORE-LIKELY-THAN-NOT THRESHOLD, THE AMOUNT RECOGNIZED IN THE FINANCIAL STATEMENTS IS THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT WITH THE RELEVANT TAX AUTHORITY. AS OF DECEMBER 31, 2020 AND 2019, GOODWILL DOES NOT BELIEVE THERE IS ANY UNCERTAINTY WITH RESPECT TO ITS TAX POSITIONS. GOODWILL FILES INFORMATION RETURNS IN THE U.S. FEDERAL AND THE STATES OF WISCONSIN AND ILLINOIS JURISDICTIONS. TAX YEARS OPEN UNDER THE FEDERAL STATUTE OF LIMITATIONS INCLUDE 2017 THROUGH 2020. TAX YEARS OPEN UNDER THE STATE OF WISCONSIN AND STATE OF ILLINOIS STATUTES INCLUDE 2016 THROUGH 2020. GOODWILL HAD NOT HISTORICALLY FILED ANY UNRELATED BUSINESS INCOME TAX RETURNS BUT FILED IN 2018 FOR FEDERAL AND THE STATES OF WISCONSIN AND ILLINOIS JURISDICTIONS. DUE TO TAX REFORM LEGISLATION, THESE INCOME TAX RETURNS HAVE BEEN AMENDED AND THE ORGANIZATION DOES NOT PLAN TO FILE FOR 2020 OR 2019, EXCEPT IN WISCONSIN. TAX YEARS REMAIN OPEN FOR YEARS IN WHICH AN INCOME TAX RETURN HAS NOT BEEN FILED.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1COST OF GOODS SOLD INCLUDED ON REVENUE STATEMENT 48,500. IN-KIND CONTRIBUTIONS RECOGNIZED FOR BOOK PURPOSES AT RETAIL VALUE 374,872. PAYROLL TAX CREDIT ALLOCATION 42,642.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2WAXDALE MARGIN 333,278. INTERCOMPANY ELIMINATION 1,430.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3COST OF GOODS SOLD INCLUDED ON REVENUE STATEMENT 48,500. IN-KIND CONTRIBUTIONS RECOGNIZED FOR BOOK PURPOSES AT RETAIL VALUE 374,872. PAYROLL TAX CREDIT ALLOCATION 42,642.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt4WAXDALE MARGIN 333,278.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc4PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01141516
IRS990ScheduleD/TotalBookValueOtherAssetsAmt07386731
IRS990ScheduleD/TotalExpensesPerForm990Amt06848231

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