Are you looking for a job where you can help people and make a difference in the world?
Working for a nonprofit organization is a good way to help people. However, you still need to make sure that you earn enough money to live on. People who work for charities and nonprofit organizations are known for receiving low salaries. However, the situation can change when you achieve a position of authority.
So, let’s find out what the Goodwill CEO salary is and exactly what the job involves.
The Goodwill Mission And Vision Statement
Goodwill works to increase the quality of life and the dignity of both families and individuals by strengthening communities.
The core goals are removing the barriers to opportunity and helping people reach their full potential. This is done through education and providing people in communities with the power of work. They believe that everyone should have the opportunity to achieve their full potential.
Full community involvement…
Members of Goodwill work within communities to help encourage and inspire contribution. This helps to raise up members and infiltrate all aspects of their lives. The organization operates under five core values. These are respect, stewardship, ethics, learning, and innovation. These core values guide everything that members of the organization do.
Goodwill CEO Salary – Duties And Responsibilities
Every major organization employs at least one chief executive officer to oversee operations. While the core duties can vary between industries, there are certain roles that all these employees undertake. So, here are some of the main duties and responsibilities that chief executive officers are charged with.
Establishing and implementing organizational goals
It is essential to have a very clear vision of the goals of the organization. These executives make the final decisions on how these goals will be achieved. This involves holding regular meetings with senior managers and finalizing plans of action for upcoming periods.
Overseeing Financial Activity
These leaders work closely with chief financial officers to plan and monitor the budget for the organization. They keep a close eye on profits and expenses as well as other assets. They use this information to cut budgets where necessary and maximize profits.
Negotiating Investments and Partnerships
Organizations work closely with partners to receive regular funds and other contributions. It is essential to establish and maintain close working relationships with these companies. This helps to ensure that profits are maximized across all departments.
Strong and insightful managers are needed to lead each department of the organization. It falls to the chief executive officer to choose the best people for these roles. It is necessary to be very good at reading people and be able to recognize talent.
Leading the company culture
It is important to adopt and develop the values that all members of the organization have to follow. Chief executive officers lead the way in implementing these values in all aspects of work. The most successful organizations are those that operate under a very clear and concrete set of values.
Skills And Qualifications
It takes specialist skills and education to secure this senior role in an organization. Most chief executive officers hold a degree in business and have several years of managerial experience. It is also necessary to have a range of core soft skills to do this job well.
Chief executive officers are effectively the leaders of the organizations they work for. They need to be able to command respect and loyalty at all times. Being a strong leader involves treating everyone with respect and being able to unlock their full potential.
It is necessary to be able to guide teams of people to achieve common goals. A good manager understands how to motivate people from different walks of life. They can oversee different departments and maximize productivity in every area of the organization.
It is important to have a strong understanding of profits and expenses. When making key decisions, these elements have to be perfectly balanced at all times. It is also essential to understand the fundamentals of financial management.
When problems occur, it is necessary to be able to resolve them as quickly as possible. The best leaders can find creative ways of turning the situation around. This means that a potentially negative situation can be transformed into a win.
It is essential to have strong written and verbal communication skills. Chief executive officers are often charged with writing clear and detailed reports on operations. They also use their strong verbal communication skills in meetings, negotiations, and presentations.
Goodwill’s CEO History
The current Goodwill chief executive officer is Steven Preston, who is also the president. Different branches of the organization also have their own chief executive officers and presidents. Many of these executives have received backlash over the years for receiving high salaries.
In 2005, it was revealed that the Portland branch president received $838,508 in pay and benefits the previous year. The Oregon attorney general’s office concluded that this amount was “unreasonable.” As a result, Michael Miller agreed to receive a 24% reduction in pay the following year.
Controversy in charity work?
In 2013, it was revealed in an article on Watchdog.org (now known as thecentresquare.com) that the average salary for employees was minimum wage. However, the organization’s tax returns revealed that more than a hundred employees received less than that. This was combined with the revelation that a total of more than $53.7 million was paid to the top executives.
The organization’s highest-paid executive was Douglas Barr, who received $1,188,733 in total annual compensation. The organization hotly contested this article, claiming that the reported figures were false. However, organization founder Edgar J. Helms earns more than $2.3 million per year from the organization’s operations.
Putting the numbers into context…
While these salaries may seem high, it is important to put them into context. The annual revenue of the organization is reportedly a little over six billion dollars. Even after deducting the organization’s leaders from this total, millions of dollars are donated to different communities each year.
The organization reportedly spends around 88% of its cash budget on developing programs in communities. The amount earmarked for these programs is believed to be at least three billion dollars each year. Further amounts are allocated for accrued expenses and emergency funds.
The Highest Paid Charity CEOs
The financial compensation for these leaders is fairly high right across the board. The top executives of many charities make around $1 million each year. However, the exact financial compensation varies according to the size of the charity and the sector.
In 2007, it was reported that the head of the Milken Family Foundation American and Worldwide divisions made $1 million. There is a law in place to prevent executive officers of charities from receiving an annual salary of more than $1 million. However, the additional benefits and bonuses they receive can lift their annual financial rewards much higher than this.
Can you compare it to other industries, though?
However, the chief executive officers in other fields traditionally make very high salaries. For example, the average salary for a chief executive officer in South Oregon is $18 million per year. Even though their salaries are typically more than a million dollars per year, CEOs of charities don’t make close to this.
The majority of the finances the organization receives are donated directly to the charity. While the exact amount can vary between regions, it is typically between 80% and 90%. Even though the chief executive officer can receive a fairly high salary, it is a fraction of the amount donated.
Ways to donate
There are several different ways to donate to the organization. It is possible to make a direct financial contribution through the organization’s website or your local store. While there is no minimum donation, the suggested amounts are $50, $150, and $300. You can choose to make a single, one-time donation or sign up for monthly donations.
Alternatively, you can choose to donate unwanted times, which will be sold in thrift stores or given to people in need. You can take your unwanted items to one of the organization’s stores or your nearest donation bin. This is a good way of giving back to the community while also decluttering your home.
Read more: CEO vs COO
More High Earning Career Advice
Are you thinking of applying? That’s amazing! Then, take a look at our in-depth guide to the Goodwill Application, and if you have a criminal record, Does Goodwill Do background Checks, and finally, How Old Do You Have To Be To Work At Goodwill, in case you’re still in school.
Of course, if you’d like to know more about high-earning careers, then you should start by checking out the Top Good High Income Skills To Learn, followed by the Top Low Stress Jobs That Pay Really Well, the Best 6 Figure Jobs, Careers That Make You Rich, and my personal favorite, the Top Jobs That Can Make You A Millionaire!
Lastly, you might want more insight into the role of Chief Executive Officer with my CEO Job Description, or how about our informative comparison of the role of a CEO vs CFO in 2023?
Goodwill CEO Salary – Final Thoughts
While people who work for nonprofit organizations earn low salaries, this is not always true for CEOs. Chief executive officers are responsible for managing the whole organization and making important decisions. These people are expected to work hard and get the job done; therefore, they can command a high salary as compensation.
The chief executive officer at Goodwill reportedly makes around a million dollars every year. However, most people who work for nonprofit organizations make much less than this. While it can be difficult to obtain this lofty position within an organization, working hard and developing specialist skills will help.
All the very best in your CEO position at Goodwill!