Goodwill Industries of Toronto
Scarborough, ON M1P 2Z4
President & CEO: Ken Connelly
Vice-President: Vidoll Regisford
Charitable Reg. #: No longer operating
Grade: B+The grade is based on the charity's public reporting of the work it does and the results it achieves.
Need for Funding
Full-time staff #315
Avg. Compensation $57,279
Top 10 Staff Salary Range
|$300k - $350k||0|
|$250k - $300k||0|
|$200k - $250k||1|
|$160k - $200k||0|
|$120k - $160k||1|
|$80k - $120k||3|
|$40k - $80k||5|
About Goodwill Industries of Toronto:
DONOR ADVISORY: January 17, 2016, Goodwill Industries of Toronto closed 16 stores in Ontario due to cash flow crisis. Goodwill states that it is exploring its options.
Founded in 1935, Goodwill Industries of Toronto (Goodwill) aims to create work opportunities and skills development for people facing barriers to employment, including persons with disabilities, youth at risk, the chronically unemployed, Aboriginal people, and newcomers to Canada. Goodwill is best known for its network of 20 retail stores throughout the GTA and Eastern Ontario, which sell donated merchandise at below retail value. Goodwill provides access to work through its Real Employment to Achieve Community Health (REACH) program, which offers employment at its retail locations to REACH participants. In addition to its retail operations, Goodwill also offers employment opportunities by providing janitorial services for a variety of institutional establishments and offices.
Administrative costs are 5% of revenue and the charity reported no fundraising costs. The charity has funding reserves of $2.0m, which cover only 7% of annual program costs. The charity does not report the value of goods donated for resale, as the fair value cannot be reasonably determined. The charity changed its fiscal year end from March to December in 2011; as a result, F2010 is eight months ended December 2011.
Goodwill Toronto's auditors raise concerns regarding the charity’s ability to continue as a going concern are dependent upon its ability to successfully generate positive cash flow from operations, which it has been unable to do in many prior years.
Report updated in 2013.
Financial RatiosFiscal year ending December
|Administrative costs as % of revenues||5.0%||6.1%||3.9%|
|Fundraising costs as % of donations||0.0%||0.0%||0.0%|
|Program cost coverage (%)||7.1%||7.9%||(1.3%)|
Summary Financial StatementsAll figures in $000s
|Fees for service||27,962||26,857||21,194|
|Cash flow from operations||860||(1,595)||866|