Goodwin House Foundation FY2022 filing

Tax-deductible

Alexandria, VA501(c)(3)Since 1989Human ServicesEIN 54-1549749

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Through the power of philanthropy, we seek and celebrate generosity to carry out the mission of Goodwin living, to provide financial security to residents, to enable staff to thrive in their careers, and to support innovation, (continued on schedule o)thus enhancing the lives of older adults and those who care for them.

501(c)(3) charity; gifts are tax-deductible.
81¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $2.9M a year · 54% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
81%
of spending
Looks good: 81% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
7 mo
of spending, in cash
Looks good: 7.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
5
named funders · $976K
Looks good: 5 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$749K
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
14
of 14 voting members
Looks good: 14 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$6.7M
+21% vs prior year
Spent
$2.1M
To programs
81%
Net assets
$19.5M
By yearFY2020–FY2024
Revenue
$6.7M
FY2022▲ +21%
Revenue by fiscal year
FY2020$2.2M
FY2021$5.5M
FY2022$6.7M
FY2023$4.6M
FY2024$7.9M
FY2024$6.8M
Expenses
$2.1M
FY2022▲ +26%
Expenses by fiscal year
FY2020$2.0M
FY2021$1.7M
FY2022$2.1M
FY2023$3.1M
FY2024$3.4M
FY2024$3.6M
Net assets
$19.5M
FY2022▼ -3%
Net assets by fiscal year
FY2020$14.0M
FY2021$20.1M
FY2022$19.5M
FY2023$23.2M
FY2024$32.2M
FY2024$38.4M

From the FY2022 Form 990 (year ending September 2022) · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 1991.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

81 cents of each dollar spent went to programs.

Program services 81% · $1.7M Management & general 11% · $225K Fundraising 9% · $183K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

19 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Chairperson
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Valerie L Burke’s $274K as Chief Philanthropy Officer is at the 97th percentile of top reported officer pay among 3869 $1–10M human services nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

See Goodwin House Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Fundraises to provide financial security for older adults and support staff careers.

Provided by the organization

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3 programs · $1.7M · in their own filed words · FY2021
01

Goodwin living resident engagement (see schedule o). Through the generosity of residents, family members, staff, friends, and organizations who wished to partner with our mission, the foundation was able to provide additional support to our community in a myriad of WAYS.IN order to enhance resident engagement, we provided $312,870 for…

$624Kprogram expense
02

Goodwin living staff support (see schedule O).THE foundation worked diligently to partner with its donors to support our team members as well. Through an incredible outpouring of generosity, we were able to provide $470,357 in funding for team members and their families.

$619Kprogram expense
03

Goodwin living fellowship (resident financial assistance) program (see schedule O.)GOODWIN living foundation supports the goodwin living resident support program (formerly called fellowship), which provides confidential financial assistance to residents who have outlived their financial resources.

$482Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 5 funders →
Grants paid · 12 grants · $6.3M · 2019–2024
Unitemized GrantFY2024$732,633
Goodwin House IncorporatedVA · FY2024$467,428
Unitemized GrantFY2023$604,965
Goodwin House IncorporatedVA · FY2023$557,335
Unitemized GrantFY2022$601,059
Goodwin House IncorporatedVA · FY2022$485,326
Unitemized GrantFY2021$470,357
Goodwin House IncorporatedVA · FY2021$461,913
Goodwin House IncorporatedVA · FY2020$476,080
Unitemized GrantFY2020$364,515
Unitemized GrantFY2019$551,046
Goodwin House IncorporatedVA · FY2019$534,421

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$6.7M
Ln 12
Gifts and grantsLn 1h$5.5M
Investment incomeLn 3$1.1M
Money outPt IX
$2.1M
Ln 25
Programscol B$1.7M
Managementcol C$225K
Fundraisingcol D$183K
Owns and owesPt X
$19.5M
net assets · Ln 32
Cash and savingsLn 1–2$1.3M
Total assetsLn 16$20.2M
LiabilitiesLn 26$749K
PeoplePt VI, VII
19
listed · VII A
PaidVII A0
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$5.5M
Government grantsLn 1e$67K
Noncash giftsLn 1g$847K
Investment incomeLn 3$1.1M
Gains on assetsLn 7$1.1M
Total revenueLn 12$6.7M
Assets in detailPt X, end of year
CashLn 1$1.3M
Cash and savings togetherLn 1–2$1.3M
InvestmentsLn 11–13$17.8M
Total assetsLn 16$20.2M
LiabilitiesLn 26$749K
Net assetsLn 32$19.5M
OperationsPt I, VI
EmployeesI 512
VolunteersI 6258
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$2.3M$1.3M
InvestmentsLn 11–13$18.2M$17.8M
Total assetsLn 16$20.9M$20.2M
LiabilitiesLn 26$830K$749K
Net assetsLn 32$20.1M$19.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$462K$462K
Grants to domestic individualsLn 2$470K$470K
Other salaries and wagesLn 7$460K$230K$115K$115K
Pension plan contributionsLn 8$28K$14K$7K$7K
Other employee benefitsLn 9$18K$9K$5K$5K
Payroll taxesLn 10$29K$14K$7K$7K
Accounting feesLn 11c$21K$21K
Investment management feesLn 11f$17K$17K
Other fees for servicesLn 11g$12K$12K
Office expensesLn 13$64K$37K$27K
Conferences, conventions and meetingsLn 19$3K$3K
Other expenses (24a–d)Ln 24$538K$525K$13K
All other expensesLn 24e$10K$10K
Total functional expensesLn 25$2.1M$1.7M$225K$183K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $7.9M$3.4M$4.5M$32.2M 990 PDF
FY2023 $4.6M$3.1M$1.5M$23.2M 990 PDF
FY2022 Viewing $6.7M$2.1M$4.5M$19.5M 990 PDF
FY2021 $5.5M$1.7M$3.8M$20.1M 990 PDF
FY2020 $2.2M$2.0M$172K$14.0M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (4 parts)
Part VIII · Statement of revenue $6,653,810 across 8 lines filed
VIII-1d Related organizations$272,611
VIII-1e Government grants$66,985
VIII-1f All other contributions, gifts and grants$5,190,919
VIII-1g Noncash contributions (included above)$847,062
VIII-1h Total contributions, gifts and grants$5,530,515
VIII-3 Investment incomeExcluded from tax $49,155$49,155
VIII-7 Net gain or loss on sales of assetsExcluded from tax $1,074,140$1,074,140
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $1,123,295$6,653,810
Part IX · Statement of functional expenses $2,132,119 across 13 lines filed
IX-1 Grants to domestic organizationsPrograms $461,913$461,913
IX-2 Grants to domestic individualsPrograms $470,357$470,357
IX-7 Other salaries and wagesPrograms $229,758 · Management $114,879 · Fundraising $114,879$459,516
IX-8 Pension plan contributionsPrograms $14,229 · Management $7,115 · Fundraising $7,115$28,459
IX-9 Other employee benefitsPrograms $9,007 · Management $4,503 · Fundraising $4,503$18,013
IX-10 Payroll taxesPrograms $14,412 · Management $7,206 · Fundraising $7,206$28,824
IX-11c Accounting feesManagement $21,000$21,000
IX-11f Investment management feesManagement $17,002$17,002
IX-11g Other fees for servicesFundraising $12,086$12,086
IX-13 Office expensesManagement $36,880 · Fundraising $27,064$63,944
IX-19 Conferences, conventions and meetingsManagement $2,791$2,791
IX-24 Other expenses (24a–d)Programs $524,900 · Management $13,191$538,091
IX-24e All other expensesFundraising $10,123$10,123
IX-25 Total functional expensesPrograms $1,724,576 · Management $224,567 · Fundraising $182,976$2,132,119
Part X · Balance sheet $20,224,993 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $2,335,423$1,301,016
X-3 Pledges and grants receivableStart of year $393,639$1,082,438
X-11 Publicly traded securitiesStart of year $17,187,603$16,937,938
X-12 Other securitiesStart of year $972,182$903,601
X-16 Total assetsStart of year $20,888,847$20,224,993
X-17 Accounts payable and accrued expensesStart of year $2,200$4,174
X-25 Other liabilitiesStart of year $760,374$744,952
X-26 Total liabilitiesStart of year $829,559$749,126
X-27 Net assets without donor restrictionsStart of year $16,374,967$15,536,593
X-28 Net assets with donor restrictionsStart of year $3,684,321$3,939,274
X-32 Total net assets or fund balancesStart of year $20,059,288$19,475,867
X-33 Total liabilities and net assetsStart of year $20,888,847$20,224,993
Part XI · Reconciliation of net assets $19,475,867 net assets at year end
XI-1 Total revenue$6,653,810
XI-2 Total expenses$2,132,119
XI-3 Revenue less expenses$4,521,691
XI-4 Net assets at start of year$20,059,288
XI-5 Net unrealized gains (losses) on investments−$5,070,858
XI-9 Other changes in net assets−$34,254
XI-10 Net assets at end of year$19,475,867

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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