Civic Intelligence

Gulfstream Goodwill Industries Inc.

990 • Fiscal year 2013 • EIN 59-1197040

Jan 01, 2013 to Dec 31, 2013 • Filed on Nov 14, 2014

1715 East Tiffany Drive33407

(561) 848-7200

Siviq Scores

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

Liabilities / Assets

70th percentile

0.51x

Higher debt load relative to assets than 70% of similar nonprofits.

2013 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2013

Liabilities / Revenue

36th percentile

0.19x

Higher debt load relative to revenue than 36% of similar nonprofits.

2013 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2013

Net Margin

34th percentile

0.2%

Higher net margin than 34% of similar nonprofits.

2013 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2013

Top Officer Pay

70th percentile

$363,830

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 0.8% of source-year revenue.

2013 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2013

Asset Growth

14th percentile

-4.6%

Faster asset growth than 14% of similar nonprofits.

2013 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Assets

Down

$16,763,399

Down $801,254 (-4.6%) from 2012

Net Assets

Up

$8,238,272

Up $128,850 (+1.6%) from 2012

Liabilities

Down

$8,525,127

Down $930,104 (-9.8%) from 2012

Revenue

$45,119,451

No earlier filing loaded for comparison.

Expenses

Up

$45,025,386

Up $5,065,484 (+13%) from 2012

Net Income

$94,065

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$80M$60M$40M$20M$0Assets 2010: $14,668,361Liabilities 2010: $9,969,493Net Assets 2010: $4,698,8682010Assets 2011: $15,747,061Liabilities 2011: $9,497,637Net Assets 2011: $6,249,4242011Assets 2012: $17,564,653Liabilities 2012: $9,455,231Net Assets 2012: $8,109,4222012Assets 2013: $16,763,399Liabilities 2013: $8,525,127Net Assets 2013: $8,238,2722013Assets 2014: $18,972,927Liabilities 2014: $9,224,607Net Assets 2014: $9,748,3202014Assets 2015: $18,815,593Liabilities 2015: $8,553,881Net Assets 2015: $10,261,7122015Assets 2016: $17,943,780Liabilities 2016: $8,804,787Net Assets 2016: $9,138,9932016Assets 2017: $18,356,112Liabilities 2017: $8,871,748Net Assets 2017: $9,484,3642017Assets 2018: $19,329,876Liabilities 2018: $9,581,358Net Assets 2018: $9,748,5182018Assets 2019: $17,338,936Liabilities 2019: $10,213,681Net Assets 2019: $7,125,2552019Assets 2020: $25,557,321Liabilities 2020: $15,289,307Net Assets 2020: $10,268,0142020Assets 2021: $26,735,282Liabilities 2021: $13,222,263Net Assets 2021: $13,513,0192021Assets 2022: $63,348,506Liabilities 2022: $53,226,262Net Assets 2022: $10,122,2442022Assets 2023: $56,953,825Liabilities 2023: $50,819,322Net Assets 2023: $6,134,5032023Assets 2024: $26,540,064Liabilities 2024: $19,915,523Net Assets 2024: $6,624,5412024

Highlighted filing

2013

Assets$16,763,399
Liabilities$8,525,127
Net Assets$8,238,272

Operations Trend

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

$60M$40M$20M$0-$20MExpenses 2010: $36,747,8452010Expenses 2011: $37,940,3702011Expenses 2012: $39,959,9022012Revenue 2013: $45,119,451Expenses 2013: $45,025,386Net Income 2013: $94,0652013Revenue 2014: $46,626,117Expenses 2014: $45,854,043Net Income 2014: $772,0742014Revenue 2015: $49,044,314Expenses 2015: $48,492,559Net Income 2015: $551,7552015Revenue 2016: $47,998,746Expenses 2016: $49,152,651Net Income 2016: -$1,153,9052016Revenue 2017: $47,006,864Expenses 2017: $46,736,153Net Income 2017: $270,7112017Revenue 2018: $49,601,371Expenses 2018: $49,273,897Net Income 2018: $327,4742018Revenue 2019: $48,622,390Expenses 2019: $51,284,211Net Income 2019: -$2,661,8212019Revenue 2020: $50,072,108Expenses 2020: $46,738,709Net Income 2020: $3,333,3992020Revenue 2021: $55,365,171Expenses 2021: $52,347,892Net Income 2021: $3,017,2792021Revenue 2022: $54,290,312Expenses 2022: $58,094,713Net Income 2022: -$3,804,4012022Revenue 2023: $55,477,278Expenses 2023: $59,547,111Net Income 2023: -$4,069,8332023Revenue 2024: $17,807,529Expenses 2024: $17,322,886Net Income 2024: $484,6432024

Highlighted filing

2013

Revenue$45,119,451
Expenses$45,025,386
Net Income$94,065
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Nov 14, 2014
Return Version
2013v3.0
Gross Receipts
$45,171,822
Mission and Program Overview

Mission

Gulfstream goodwill industries, inc. Assists individuals with disabilities and other barriers to employment to become self-sufficient, working members of the community.

Rehabilitation, employment and training: Gulfstream Goodwill Industries, Inc. assists people with disabilities and other barriers to employment to become self-sufficient, working members of the community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$9,201,884$8,667,933▼ $533,951
Inventories for Sale or Use$2,590,755$2,724,603▲ $133,848
Accounts Receivable$1,914,270$2,077,179▲ $162,909
Savings and Temporary Cash Investments$1,136,363$1,702,729▲ $566,366
Investments in Publicly Traded Securities$752,605$537,970▼ $214,635
Prepaid Expenses and Deferred Charges$533,063$262,081▼ $270,982
Cash and Non-Interest-Bearing Accounts$1,435,713$31,526▼ $1,404,187
Total Assets$17,564,653$16,763,399▼ $801,254
Other Assets Total$0$759,378▲ $759,378
Liabilities
Tax Exempt Bond Liabilities$4,270,000$3,840,000▼ $430,000
Mortgage Notes Payable Secured by Investment Property$2,583,116$2,666,708▲ $83,592
Accounts Payable and Accrued Expenses$2,033,330$1,617,092▼ $416,238
Other Liabilities$568,785$401,327▼ $167,458
Total Liabilities$9,455,231$8,525,127▼ $930,104
Net Assets / Fund Balance
Unrestricted Net Assets$8,109,422$7,746,079▼ $363,343
Temporarily Rstr Net Assets$0$492,193▲ $492,193
Total Net Assets Fund Balance$8,109,422$8,238,272▲ $128,850
Total Liabilities and Net Assets / Fund Balance$17,564,653$16,763,399▼ $801,254

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,205,958$5,481,120$10,687,078
Other Land Buildings$1,246,130$5,487,672$6,733,802
Land$2,215,845-$2,215,845
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Marvin A TanckCEO & PresidentFT$223,348$140,482$363,830
Kathryn SpencerVice PresidentFT$156,215$26,708$182,923
Sherry SteffChief Financial Officer & Vice PresidentFT$145,386$2,080$147,466
Cassandra FulwoodVice PresidentFT$121,594$6,944$128,538
Brian EdwardsVice PresidentFT$108,366$1,552$109,918
Rhonda CounesVice PresidentFT$78,683$6,669$85,352
Carlton MooreVice PresidentFT$61,938$5,668$67,606

Board Members and Trustees

NameTitle
Stan Klett EsqAudit Chair
Lisa McDermott-Perez PhdChair, Nominating Chair
Dennis CaseyDevelopment Chair
John BanisterH.R. Chair
Linda FraserHuman Services Chair
Denise McDonaldMarketing Chair
Ronald AlbanoRetail Chair
Anthony JordanTreasurer, Finance Chair
Bert PremurosoVice Chair
Carl J NicolaDirector
Carl MinardoDirector
Carlos MahechaDirector
Clive Stuart-FindleyDirector
DE William Quinette EdDirector
Daniel BarskyDirector
Davide CarboneDirector
Eddie JacksonDirector
Father Donald R MunroDirector
Florence SeilerDirector
George MatsoukasDirector
Harold AtchisonDirector
Laurel BakerDirector
Patricia ReyboldDirector
Paul A TurkDirector
RADM Philip WhitacreDirector
Thomas SeamonDirector
Rosalina HomSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Wex BankWright ExpressVehicle Maintenance-$545,027
Waste Management of Palm BeachWaste Removal-$449,891
Penske TruckingVehicle Leasing-$343,161
Waste Management of Martin CountyWaste Removal-$151,327
AmSan FloridaJanitorial Services-$132,703
Revenue and Support

Revenue Composition

Contributions and Grants
$32,636,976
Program Service Revenue
$11,442,218
Investment Income
$51,101
Other Revenue
$989,156
All Other Contributions
$32,559,311
Change in Net Assets
$94,065

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeReported AmountValuation Method
Clothing and Household Goods$32,363,815Based on sales price
Total Noncash Contributions$32,363,815-

Audited Revenue Reconciliation

Revenue per Audited Statements
$45,142,164
Revenue Not Reported on Financial Statements
$-22,712
Revenue Not Reported on Form 990
$194,386
Other Revenue Adjustments
$-22,712
Total Revenue per Audited Statements
$45,336,550
Total Revenue per Form 990
$45,119,452
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$26,853,196
Other Expenses$18,119,714
Total Fundraising Expense$561,964
Grants and Similar Amounts Paid$52,476
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$19,256,963$1,982,019$341,510$21,580,492
Occupancy$10,688,843$350,483$986$11,040,312
Payroll Taxes$2,290,646$205,753$26,463$2,522,862
Travel$1,484,788$90,359$15,970$1,591,117
Other Employee Benefits$1,284,073$137,884$33,812$1,455,769
Depreciation Depletion$702,148$409,896$5,925$1,117,969
Current Officers, Directors, Trustees, and Key Employees$968,590$99,884$17,159$1,085,633
Office Expenses$1,061,634--$1,061,634
Insurance$642,894--$642,894
Fees for Services Other$461,037$128,311$5,824$595,172
Fees for Service Investment Mgmnt Fees$240,721$64,145$2,751$307,617
Advertising$230,754$12,139$10,676$253,569
Pension Plan Contributions$185,330$19,900$3,210$208,440
All Other Expenses$68,061$128,527$9,758$206,346
Other Expenses$63,950$40,073$2,799$106,822
Conferences and Meetings$5,060$10,059$64,832$79,951
Fees for Services Legal$58,714$15,654$671$75,039
Fees for Services Accounting$37,288$9,936$426$47,650
Grants to Domestic Individuals$38,760--$38,760
Grants to Domestic Orgs$13,716--$13,716
Total Functional Expenses$40,480,019$3,983,403$561,964$45,025,386

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$45,169,534
Expenses per Audited Statements$45,048,099
Total Expenses per Form 990$45,025,387
Expenses Not Reported on Form 990$121,435
Expenses Not Reported on Financial Statements$-22,712
Other Expense Adjustments$-22,712
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
51-0498259-501(c)(3)Unrestricted Donation$13,716
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$32,837
Fundraising Gross Income$4,140
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Event 1$47,300-$7,686-
Event 2$34,505$4,140$15,026$-10,886
Total Events$81,805$4,140$32,837$-28,697
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Derivative Financial Instrument$401,327

Bond Issues

BondIssuerIssuedIssue PricePurpose
A59-60007852006-05-24$5,210,000Industrial Development

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$5,210,000-$720,000$81,053

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
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 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
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, line 11

How Form 990 is provided to board of directors before filing: The Form 990 is provided to the board of directors at an annual Form 990 review meeting as presented by the independent auditor.

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

Conflict of Interest Monitoring: All officers, trustees and employees are provided with a copy of the organization's conflict of interest policy. The policy states that potential conflicts shall be disclosed involving any situation or transaction in which they are involved and which in their opinion, violates, may violate, or could appear to violate the intent of the company's conflict of interest or ethical policy statement. Such disclosures and exception request shall be presented to the President for a ruling.

Form 990, Part VI, Section B, line 15

Process of determining compensation of top management: The compensation committee of the board of directors of Gulstream Goodwill Industries, Inc. annually reviews and approves the compensation of the CEO/President. The process was last performed May 2014. Process of determining compensation of other officers and key employees: The President and Vice President of Gulfstream Goodwill Industries, Inc. review the salary guidelines and the actual salaries of the officers in a quantitative analysis, prepared by the VP of Human Resources, accesing wage information made available through Human Resources' subscription to various external sources.

Form 990, Part VI, Section C, line 19

Availability of documents: The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Form 990, Part VIII, Lines 1(F) and 10(A)

Beginning with the December 31, 2013 return, items donated for sale are accounted for and reported in Part VIII, line 1(f) as contributions received as items are sold. For returns prior to 2013, items donated were reported in Part VIII, line 10(a) as gross sales of inventory. Management feels that reporting and classifying these items as contributions more clearly represents these transactions, and is more consistent with the presentation of other sizeable Goodwill retailers.

Filing and Contact Details

Filer

EIN
59-1197040
Phone
5618487200

Signing Officer

Name
Sherry Steff
Title
Chief Financial Officer
Phone
5618487200
Signed
2014-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Marvin A Tanck
Formed
1966
Legal Domicile
Fl
Voting Board Members
26
Independent Board Members
26
Employees
1,785
Volunteers
0

Preparer

Preparer
David J Thomas
Phone
5616896000
Supplemental Narrative

Additional Explanations

Page 12 Part XII Line 2C

Audit Report Review Process: The audit report is reviewed annually at the audit report review meeting as presented by the independent auditor. The process has not changed from the prior year.

Financial Statement Notes

Part X, Line 2:

Gulfstream Goodwill Industries, Inc. is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code of 1986 and from state income taxes under similar provisions of the State of Florida Income Tax Code. The Organization has been classified as a publicly supported organization, which is not a private foundation under 509(a) of the Code. The Organization did not engage in any unrelated business activities during the year ended December 31, 2013, and accordingly there is no provision for income taxes reflected in the accompanying consolidated financial statements. The Organization follows FASB ASC 740, Accounting for Uncertainty in Income Taxes. This standard seeks to reduce the diversity in practice associated with certain aspects of measurement and recognition in accounting for income taxes. It prescribes a recognition threshold and measurement attribute for financial statement recognition and measurement of a tax position that an entity takes or expects to take in a tax return. An entity may only recognize or continue to recognize tax positions that meet a "more likely than not" threshold. The Organization assesses the income tax positions based on management's evaluation of the facts, circumstances, and information available at the reporting date. The Organization uses the prescribed "more likely than not" threshold when making their assessment. There are currently no open Federal or State tax years under audit.

Part XI, Line 2D - Other Adjustments:

Revenue - Lighthouse for the Blind Revenue - Gulfstream Goodwill Foundation Revenue - Elimination Revenue of Consolidated Entities

Part XI, Line 4B - Other Adjustments:

Special Fundraising Event Expenses

Part XII, Line 2D - Other Adjustments:

Expenses-Lighthouse for the Blind Expenses-Gulfstream Goodwill Foundation Expenses-Elimination Revenue of Consolidated Entities

Part XII, Line 4B - Other Adjustments:

Special Fundraising Event Expenses

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/PersonNm0Lisa McDermott-Perez Phd
IRS990/Form990PartVIISectionAGrp/PersonNm1Bert Premuroso
IRS990/Form990PartVIISectionAGrp/PersonNm2Ronald Albano
IRS990/Form990PartVIISectionAGrp/PersonNm3John Banister
IRS990/Form990PartVIISectionAGrp/PersonNm4Dennis Casey
IRS990/Form990PartVIISectionAGrp/PersonNm5Linda Fraser
IRS990/Form990PartVIISectionAGrp/PersonNm6Stan Klett Esq
IRS990/Form990PartVIISectionAGrp/PersonNm7Denise McDonald
IRS990/Form990PartVIISectionAGrp/PersonNm8Anthony Jordan
IRS990/Form990PartVIISectionAGrp/PersonNm9Rosalina Hom
IRS990/Form990PartVIISectionAGrp/PersonNm10Daniel Barsky
IRS990/Form990PartVIISectionAGrp/PersonNm11Davide Carbone
IRS990/Form990PartVIISectionAGrp/PersonNm12Laurel Baker
IRS990/Form990PartVIISectionAGrp/PersonNm13Eddie Jackson
IRS990/Form990PartVIISectionAGrp/PersonNm14Carlos Mahecha
IRS990/Form990PartVIISectionAGrp/PersonNm15George Matsoukas
IRS990/Form990PartVIISectionAGrp/PersonNm16Carl Minardo
IRS990/Form990PartVIISectionAGrp/PersonNm17Father Donald R Munro
IRS990/Form990PartVIISectionAGrp/PersonNm18Carl J Nicola
IRS990/Form990PartVIISectionAGrp/PersonNm19DE William Quinette Ed
IRS990/Form990PartVIISectionAGrp/PersonNm20Patricia Reybold
IRS990/Form990PartVIISectionAGrp/PersonNm21Thomas Seamon
IRS990/Form990PartVIISectionAGrp/PersonNm22Florence Seiler
IRS990/Form990PartVIISectionAGrp/PersonNm23Clive Stuart-Findley
IRS990/Form990PartVIISectionAGrp/PersonNm24Harold Atchison
IRS990/Form990PartVIISectionAGrp/PersonNm25Paul A Turk
IRS990/Form990PartVIISectionAGrp/PersonNm26RADM Philip Whitacre
IRS990/Form990PartVIISectionAGrp/PersonNm27Marvin A Tanck
IRS990/Form990PartVIISectionAGrp/PersonNm28Kathryn Spencer
IRS990/Form990PartVIISectionAGrp/PersonNm29Sherry Steff
IRS990/Form990PartVIISectionAGrp/PersonNm30Cassandra Fulwood
IRS990/Form990PartVIISectionAGrp/PersonNm31Brian Edwards
IRS990/Form990PartVIISectionAGrp/PersonNm32Rhonda Counes
IRS990/Form990PartVIISectionAGrp/PersonNm33Carlton Moore
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt330
IRS990/Form990PartVIISectionAGrp/TitleTxt0Chair, Nominating Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt1Vice Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt2Retail Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt3H.R. Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt4Development Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt5Human Services Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt6Audit Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt7Marketing Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt8Treasurer, Finance Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt9Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt10Director
IRS990/Form990PartVIISectionAGrp/TitleTxt11Director

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$26.5$19.9$6.62$17.8$17.3$0.48
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$57.0$50.8$6.13$55.5$59.5$4.07
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$63.3$53.2$10.1$54.3$58.1$3.80
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$26.7$13.2$13.5$55.4$52.3$3.02
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$25.6$15.3$10.3$50.1$46.7$3.33
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.3$10.2$7.13$48.6$51.3$2.66
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$19.3$9.58$9.75$49.6$49.3$0.33
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.4$8.87$9.48$47.0$46.7$0.27
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$17.9$8.80$9.14$48.0$49.2$1.15
2015Detailed filing. Detailed filing data is available for this year.$18.8$8.55$10.3$49.0$48.5$0.55
2014Detailed filing. Detailed filing data is available for this year.$19.0$9.22$9.75$46.6$45.9$0.77
2013Detailed filing. Detailed filing data is available for this year.$16.8$8.53$8.24$45.1$45.0$0.09
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.6$9.46$8.11$40.0
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.7$9.50$6.25$37.9
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.7$9.97$4.70$36.7