Introduction

Goodwill is a well-known nonprofit organization that provides job training, employment placement services, and other community-based programs for people who face challenges to finding employment. With over 3,300 stores and donation centers across the United States and Canada, Goodwill is one of the largest nonprofit organizations in the world. However, many people are curious about how much the CEO of Goodwill makes. In this article, we will explore the salary and compensation of Goodwill’s top executive.

Background on Goodwill

Goodwill was founded in 1902 by Reverend Edgar J. Helms, a Methodist minister in Boston, Massachusetts. Helms collected used household goods and clothing from wealthier areas of the city and then trained and hired people from poorer neighborhoods to mend and repair the items. The goods were then resold or given to people in need. This model of social enterprise became the basis for Goodwill’s mission and programs.

Today, Goodwill operates as a network of independent, community-based organizations in the United States and Canada. Each local Goodwill organization is governed by a board of directors and operates as a nonprofit business, using revenue from its retail stores and other programs to fund job training and employment services for people in the community.

Who is the CEO of Goodwill?

The current CEO of Goodwill Industries International is Steven C. Preston. Preston was appointed to the position in 2013, succeeding Jim Gibbons, who had served as CEO since 2008. Prior to joining Goodwill, Preston served as the Secretary of the U.S. Department of Housing and Urban Development and as the CEO of the Small Business Administration.

How Much Does the CEO of Goodwill Make?

According to Goodwill’s 2019 IRS Form 990, Preston’s total compensation for the year was $729,000. This includes a base salary of $630,000, as well as other compensation such as retirement and deferred compensation. It’s worth noting that Goodwill is a nonprofit organization, and as such, its executive compensation is subject to scrutiny and regulation by the IRS and other oversight agencies.

It’s also worth noting that Goodwill’s CEO salary is significantly lower than the salaries of CEOs at many for-profit companies. For example, the average CEO salary for a Fortune 500 company in 2019 was $14.8 million, according to a report by the Economic Policy Institute.

Conclusion

While some people may be surprised by the CEO salary at a nonprofit organization like Goodwill, it’s important to remember that executive compensation is just one part of the larger picture. Goodwill’s mission and programs have a significant impact on the communities it serves, providing job training and employment opportunities for people who might otherwise struggle to find work. By supporting Goodwill through donations and purchases at its retail stores, individuals can help to further this important work.