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GOODWIN FOUNDATION INC

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Public IRS 990 nonprofit record

GOODWIN FOUNDATION INC

EIN 06-1599388 · Scholarships & Student Financial Aid (B82)

What they do

THE GOODWIN FOUNDATION SUPPORTS THE MISSION of GOODWIN UNIVERSITY to EXTEND EDUCATIONAL OPPORTUNITIES to UNDERSERVED POPULATIONS BY FUNDRAISING for SCHOLARSHIPS and OTHER INITIATIVES. WITH THE GUIDANCE of AN INDEPENDENT BOARD of DIRECTORS, THE FOUNDATION IDENTIFIES KEY STRATEGIC FUNDRAISING GOALS and CULTIVATES DONORS THROUGH MAJOR GIVING, ANNUAL FUND, and ALUMNI GIVING CAMPAIGNS. THROUGH A COORDINATED PLAN of INSTITUTIONAL GIVING and SCHOLARSHIPS, THE FOUNDATION SUPPORTS EDUCATIONAL ACCESS for A WIDE RANGE of STUDENTS, INCLUDING THE OVER HALF of GOODWIN STUDENTS WHO ARE FIRST GENERATION COLLEGE STUDENTS. THE FOUNDATION SEEKS to SUPPORT THOSE STUDENTS WHO HAVE BOTH AN ACUTE FINANCIAL NEED, and HAVE DEMONSTRATED THE DESIRE to ACHIEVE ACADEMIC SUCCESS.FUNDS RAISED BY THE FOUNDATION ALSO SUPPORT SPECIFIC INITIATIVES TARGETED AT CLOSING THE EDUCATIONAL ACHIEVEMENT GAP, INCLUDING THE MEN of VISION IN EDUCATION (MOVE) and WOMEN INVESTED IN SEEKING EDUCATION (WISE),

Before you give

Should I give to this charity?

Easy charity check
Look at where the money went

Of every $100 spent, about $96.30 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders12 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

102.82%of revenue went to mission work96.3% of expenses · Program services
0.18%of revenue went to fundraising0.2% of expenses
$106.72spent for every $100 of revenueSpending was higher than revenue this year.
3.72%of revenue went to management and office costs3.5% of expenses
$7.58in assets for every $1 spent this yearSome assets cannot be spent right away.
34.4%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

  1. Who did you help? Ask for a recent story or report that shows real results.
  2. What will my money do? Ask exactly what your gift will pay for.
  3. Is this really the charity? Give only through its official website or confirmed phone number.

Worth asking: Expenses exceeded revenue by $159,031 this year. Ask whether that was planned or caused by a one-time event.

Pay context: The highest compensation shown in this filing is $49,078 for MEYER JR EDWIN (DIRECTOR/CFO/VP FINANCE). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$2,365,063
Mission workProgram services$2,431,696102.82% of revenue96.3% of expenses
ManagementOffice and general costs$88,0523.72% of revenue3.5% of expenses
FundraisingAsking for donations$4,3460.18% of revenue0.2% of expenses
Total expenses$2,524,094106.72% of revenue

Expenses were greater than revenue, so the colored ring fills the available $100 and the total above 100% is shown below.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails
2024CurrentExpense mix: 96.3% mission · 3.5% management · 0.2% fundraisingTotal expenses: 106.72% of revenue
2023Expense mix: 93.5% mission · 5.8% management · 0.7% fundraisingTotal expenses: 78.19% of revenue
2022Expense mix: 84.4% mission · 15.6% management · 0.0% fundraisingTotal expenses: 30.61% of revenue
2021Expense mix: 81.3% mission · 18.7% management · 0.0% fundraisingTotal expenses: 58.23% of revenue
2020Expense mix: 82.2% mission · 17.8% management · 0.0% fundraisingTotal expenses: 92.84% of revenue
2018Expense mix: 83.7% mission · 16.3% management · 0.0% fundraisingTotal expenses: 71.33% of revenue
2017Expense mix: 88.1% mission · 11.9% management · 0.0% fundraisingTotal expenses: 86.61% of revenue
2016Expense mix: 87.1% mission · 12.9% management · 0.0% fundraisingTotal expenses: 138.17% of revenue

Money in and money out

Revenue$2,365,063
Expenses$2,524,094
Annual shortfall $159,031 Expenses were higher than revenue for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$2,431,696 · 96.3% of expenses
Management and office costs$88,052 · 3.5% of expenses
Fundraising$4,346 · 0.2% of expenses
See all reported dollar amounts
Revenue$2,365,063
Expenses$2,524,094
Assets$19,129,937
Income$38,944,626
Contributions$813,121
Mission work (program services)$2,431,696
Fundraising$4,346
Grants given$4,445,140
Average grant$1,111,285
Management and general$88,052
Stocks and bonds$16,962,963
Accounting fees$4,562
Investing fees$88,052
People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation
MEYER JR EDWINDIRECTOR/CFO/VP FINANCE · 4 hrs/week $49,078Base · Other $49,078
SCHEINBERG MARK EDIRECTOR/PRESIDENT · 5 hrs/week $25,063Base · Other $25,063
ANDREWS TODDDIRECTOR/SENIOR VP · 5 hrs/week $8,885Base · Other $8,885

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (12)

MEYER JR EDWINDIRECTOR/CFO/VP FINANCE

SCHEINBERG MARK EDIRECTOR/PRESIDENT

ANDREWS TODDDIRECTOR/SENIOR VP

FOXMAN ETHANPRESIDENT

HOUSLEY LEEDIRECTOR

KAPLAN TEDDIRECTOR

LOUDEN MOLLYDIRECTOR

MAFFEE JAYDIRECTOR

MARGNELLI JAYDIRECTOR

RESNICK JUDITHDIRECTOR

SHEA MARTIN KSECRETARY/TREASURER

SHECHTMAN RICHARDDIRECTOR

About this charity

Recognized since
January 2001
Location
1 RIVERSIDE DR, EAST HARTFORD, CT 06118-1837
County
Hartford
In care of
% JERRY D EMLET
Primary officer
EDWIN MEYER JR, CFO

How to reach them

Phone(860) 528-4111

Filing and classification

Latest tax year
2024
Tax period began
July 1, 2024
Return type
990
Tax preparer
COHNREZNICK ADVISORY LLC
NTEE classification
Scholarships & Student Financial Aid (B82)
IRS tax category
Scholarships & Student Financial Aid
Grant-giving organization
Yes

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About this report: Information comes from public nonprofit records and may show the latest filing available.

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