strategic-management

162 MARY E. VRADELIS
EXHIBIT 3 Goodwill Industries of San Francisco, San Mateo and Marin
Counties, Inc.
Statement of Financial Position, June 30, 2008
(with comparative totals for 2007)
2008 (Restated) 2007
ASSETS
Current assets
Cash and cash equivalents $ 4,136,260 $ 1,124,389
Accounts receivable, net 623,000 665,683
Contributions receivable, current portion 225,000 600,000
Note receivable, net 68,191 —
Merchandise Inventories 1,878,513 1,854,514
Prepaid Expenses 575,749 582,446
Total current assets 7,506,713 4,827,032
Property and equipment, net
Contributions receivable, net
15,108,862 15,413,230
of current portion 75,000 —
Deposits and other assets 289,219 287,240
Total assets $ 22,979,794 $ 20,527,502
LIABILITIES AND NET ASSETS
Current liabilities
Accounts payable and accrued expenses $ 2,158,617 $ 1,488,677
Deferred revenue 326,574 434,806
Building deposit 3,000,000 0
Current Maturities of note payable 105,394 97,398
Total current liabilities 5,590,585 2,020,881
Deferred rent 69,718 29,002
Note payable, less current maturities 855,042 968,430
Total liabilities 6,515,345 3,018,313
Net assets
Unrestricted 15,808,634 16,709,503
Temporarily restricted 655,815 799,686
Total net assets 16,464,449 17,509,189
Total liabilities and net assets $ 22,979,794 $ 20,527,502
Source: Company documents.
Goodwill of San Francisco, San Mateo and Marin Counties is also the first Goodwill
in the nation to develop a triple bottom line mission: “An enterprising organization,
Goodwill operates a robust business measured against a triple bottom line of people, planet
and performance. There is transparency and accountability as Goodwill unlocks the value
in both people and material donations.”
Organizational Chart
Goodwill is one of 184 autonomous not-for-profit nonsectarian Goodwill organizations
affiliated with Goodwill Industries International, Inc. The Bay Area organization is overseen
by a board of directors. As a nonprofit, it is required to have the oversight of this
volunteer body because its primary focus is to protect the public interest and because it