Goodwill Industries of MID-Michigan Inc

“The board of directors has delegated responsibility and authority for the review and approval of the draft form 990 to the audit committee, which reviews the draft copy with the paid preparer before filing.”

“Annually, or if changes in business relationships occur during the year, board members and officers are required to sign a disclosure form as to any potential conflicts of interest. The policy is that they must disclose any interests that may result in a conflict of interest. A listing of vendors is generated near the end of each year, and distributed to all board members for their review and discussion. If a conflict arises and is properly disclosed, that board member would abstain from voting. If it is found that an interest does exist after the fact, and no disclosure had been made previously, they will be disciplined, up to and including termination.”

“The board of directors determines the compensation of the ceo and approves it. For other officers or key employees, a written performance appraisal by the employee's supervisor is completed yearly, with compensation changes made in conjunction with a completed appraisal. Resources available for comparability data are the gii salary survey, and the salary information for non-profits from maro.”

“Copies of the governing documents, the conflict of interest policy and financial statements are kept on file at the administrative offices in flint, mi and available for public review during normal business hours by anyone requesting to see them.”

“Under asu-2016-02, the organization's rou assets are recorded as right-of-use assets on the statement of financial position at december 31, 2024, in the amount of $6,158,528, and consist of operating lease assets and financing lease assets. Management annually reviews these rou assets for impairment whenever events or circumstances indicate that their carrying values may not be fully recoverable.”

“Under asu 2016-02, the organization recognized operating lease liabilities and financing lease liabilities on the statement of financial position at december 31, 2024, in the amount of $6,110,621 and $506,430, respectively.”

“The audit committee was consolidated into the finance committee in 2018. The finance committee now has the oversight authority and responsibilities that the audit committee had in prior years. The process has not changed from the prior year.”