Goodwill Industries Essay

grace Industries argon organizations for noncommercial qualification that set aside or render givement, fellowship based programs, localisation services, and rent out training to individuals that standnot access victorian education, disen subject individuals and the unemployed. A huge net fake of institutions of retail thrift, that works as organizations of nonprofit organizations, sponsor grace of God industries. A large portion of goodwill industries finance is donated compass predicts from retail stores. The communitys generous donations of household items and clothing add the stores merc holdise.Such donations atomic number 18 hypercritical to goodwill industries accusation of Colorado Springs, two donating and shopping in their stores, give a hand in mounting programs for workforce schooling that serve more than 45000 muckle every year in northwest N. C (Helms, 2001). thanksgiving Industries atomic number 18 nonprofit making organizations that render or allow for employment, job training, placement services and community based programs to people who sire no proper access to education, to those who relieve oneself a disability, unemployed. seemliness is sponsored by a considerable network of retail thrift institution which also operates as nonprofit organizations. Goodwill Industries works hand in hand with employers to identify other(a) people who qualify for employment opportunities available at whatever point time (Helms, 2001). A substantial portion of the financing of Goodwill Industries comes from the gross revenue of donated goods in various stores. Merchandise in this stores is endured via generous donations things much(prenominal) as household items, clothings and from different communities. Such donations are critical the mission of Goodwill Industries (Moore, 2001).Goodwill Industries accepts visible donations of each kind, such(prenominal)(prenominal) as cars, computers and boats. The common donations inclu de clothing, shoes, house wares such as d inwardware, pans and pots, kitchen utensils and flatware. Sm every(prenominal) appliances are also common donations like blenders, toasters, juicers and mixers bicycles toys sporting equipment books collectables furniture tools decorations computers among others (Moore, 2001). Goodwill industries arrest that business operations and community activities are carried on in an environ psychic all in ally favorable manner.The Industry is dedicate in turning discarded things into serviceable products, and where they loafernot salvage an item they en confident(predicate) that thorough recycling methods are utilized (Moore, 2001). Goodwills Mission Goodwill industries sell donated goods. The profits generated by the sales fund training opportunities for various those with trouble in conclusion and keeping jobs. They also train and hire individuals with disabilities. These disabilities can be mental or physical due to lack of previous work expe rience, housewives re-entering the job grocery store, outdated work skills, senior citizens, and people with limited communication skills (Moore, 2001).Goodwill Industries serve people experiencing bulwarks in employment and consortd circumstances. A barrier to employment include development age, disabilities, learning disabilities, single parenthood, lack of education, vocabulary barriers, felony history, pro yearned absence from the workforce (such as disabled veterans or displaced homemakers), nub abuse, co-occurring disorders, domestic neglect or violence, homelessness, and physical challenges. These Industries serve to intervene for such people and hence contributing to economic development in the long run.The Supported Program for employment is projected for moreover those with significance of disability. It provides greater comprehensive support to the victims in order to increase their opportunity for world successful on their relevant job (Moore, 2001). Goodwill Indu stries only accepts only those items that are in excellent shape. For instance if the items include electronics they have to be fully operational. Goodwill Industry does not behave repairing services.In compositors case it accepts non functional items without its knowledge, it contracts a salvage comp both to clear from its stores non working items such as radios, televisions, microwaves, cameras and similar products working order (Moore, 2001). Goodwill can gap pick up services for organizations, businesses and schools that would be sakeed to donate overstock, arise and dent, office furniture and surplus inventory. Goodwill Industries have created policies help them stick to up and keep constant track of all donated items. These policies also acquired immune deficiency syndrome in preventing frauds.To begin with, any donated goods that are yet to been elegant cannot be issued or sold before they reach the relevant retail stores. aft(prenominal) they are processed, they are d istributed to store randomly (Helms, 2001). Goodwill Industries also provide career solutions for adults via various programs. These programs include, computer classes, forklift certification, job readiness sessions, Microsoft Office cortege classes, security guard training, call center training, janitorial services, counseling and job placement, node and retail, service basics, and also transitional employment services.Goodwill determines prices of donated items by market value and competitive. However, prices at Goodwill Industries are at least 50 percent less compared to what customers would pay in other retail stores. any states do not charge taxes on second hand goods an beginicularly clothes which acts as a major advantage for Goodwill Industries (Helms, 2001). These industries lead retail jobs, which include Retail sales clerks, Administrative, support staff, processors and centering callowness services staff, Truck drivers/helpers Rehabilitation program aides, Adult services staff, material handlers and Donation center attendants.These employees enjoy accrued benefit such as health insurance, vacation, Competitive wages, dental insurance, holiday and a retirement intention (Helms, 2001). Goodwill Industries do not hold fundraising events or solicit hard cash donations, but monetary donations are gratefully accepted. Most of these Industries set passing employment with higher opportunities for disabled and those with barriers to employment. Some of the services that the disabled perform include, Light Assembly, sorting, labeling and Packaging.They are also involved in shrink Wrapping, Mailing, tumefy Packing, Craft projects and Stuffing Envelopes (Keeler, 1992). Goodwill Industries strive to determine that their stores are eer full of fresh products. Merchandise remains in the retail stores for hardly a(prenominal) weeks, and then it is marked down severally after few weeks. If the item does not sell after a given time, it is transferre d to any dynamic headroom Center where it is offered at an amount. If the items still fail to sell in the clearance Center, they are sold in bulk to third party recyclers or recycled (Moore, 2001). Goodwill Industries make sales online.They have created online bidding sites that require bidders to archives online in order to browse, place bid and be able to secure any item that is available for sale. This site normally notify bidders whenever they are outbid on an item and if they have lost or won the auction (Keeler, 1992). All activities of Goodwill and business operations are handled in a manner that they are environmentally friendly. They believe in making useable goods from discarded items, and if an item cant be salvaged a proper method of recycling is learnd. By so doing, they are able to call themselves upstanding citizens of environment (Helms, 2001).Policy of Goodwill Industries Goodwill industries are dedicated to services delivery in an environment that is conformed to the highest standards of administration accountability, pecuniary management, developmental training, marketing and business. Goodwill industries leadership is committed to the need to retrieve and prevent fraud, misappropriation of coin, fiscal management and hence maintenance and development of a collective abidance formal program to ascertain accord and ongoing monitoring with all regulatory requirements that are licit.Additionally, the organization is dedicated to the maintenance, implementation and establishment of a program of corporate compliance that insists on a number of things (Moore, 2001). Firstly, avoid wrong doings, which can be both unintentional or intentional, and immediate investigation and reporting of questionable practices and activities without any penalty to the party reporting. Secondly, immediate correction of any circumstance that puts the goodwill industries, its staff or leaders, consumers and sources of funding at risk (Moore, 2001).Procedure s of Goodwill Industries The operations of goodwill industries entail the following procedures. The identity card of directors through official declaration, delegates habitual responsibility for the program of Corporate Compliance to the chief operating officeholder/ President with supervisory responsibilities allocated to the citizens charge specifically the Finance perpetration. The CEO/ Preside will evaluate the program of the corporate compliance of the Organization and provide regular and diurnal reports to the whole gore of Directors and mission on issues relating to the program.The CEO officially delegates to the judicature and Finance Vice President as police officer of the Corporate Compliance. The Officer of Corporate compliance has various responsibilities (Moore, 2001). The first responsibility is providing staff assist to the Financial Committee and works as the main contact point of the Organization for all issues of corporate compliance, which include com ing up with recommendations to the shape up of directors, the Committee and CEO/President and regular reporting on activities of compliance (Helms, 2001)..another(prenominal) responsibility is to monitor, implement and develop on a reconciled and regular basis the program corporate compliance of the organization, which include all systems and procedures, reporting and investigative processes, auditing, and extraneous and internal monitoring (Helms, 2001). Thirdly, the committee is responsible for(p) for monitoring, coordinating and scheduling periodic and regular analyses of areas of risk by fitting external and/or internal persons to the organization.These reviews will supplement the annually audit of the organizations system of score and offer an additional inner measure. This is to make sure that it complies with pecuniary practices and policies that will endure the thorough tryout of any regulatory examination or audit. Another responsibility of the committee is that it has unimpeded and directs access to the independent auditors of the organization, legal body on issues that relate to compliance of the organization, board of directors and CEO/president (Helms, 2001).The reports to the notice of directors, the committee and CEO/President will include the following, a summary of all criticisms processed in the previous twelve months in combination with the program of corporate compliance, investigations and allegations. Additionally, a description of all complete corrective accomplishments taken and thirdly, any recommendations to changes in procedures and/or policies of the organization.The summary will consist of incidents of theft of funds of Goodwill and or pattern, product of irregularities in finances, significant irregularities in news report and/or errors, investigations of media related to ethics and confidentiality breach (Moore, 2001). Committee Formation The Boards Finance Committee shall be in charge of lapse of all activities o f Corporate Compliance. Committee members can also be part of other committees. They should not depend on management and free themselves from any association that would affect the use of their independent decision as members of the Committee.The Committee of such organization shall meet more than two years annually, and as frequent as the situation requires. The committee of goodwill industries shall keep all the meetings minutes to document its recommendations and activities (Moore, 2001). Primary Committees Goals The committee helps the Board in accomplishing its fiduciary duties relating to financial and legal compliance with relevant policies, fabrication guidelines laws, and regulatory requirements.Additionally, it is in charge of all practices of auditing reporting and report, whose goal is to conk out accurately and properly the financial condition and status of the Organization (Keeler, 1992). Another responsibility of the committee is to oversee the implementation and a doption of procedures and policies that will admit for the industry and its workers to comply fully with all relevant polices, regulations and laws. Moreover, it helps the board to fill up its tasks to stakeholders that relate to integrity and quality of financial reporting, practices of financial reporting, and policies of accounting (Keeler, 1992).Duties of the Committee While the committee carries out its responsibilities and duties, it should ensure that part of its members possess expertise in the financial field. The financial experts must have a habitual understanding of GAAP and an understanding of statements of finance. Additionally, such persons should have an in discretion understanding of preparing, analyzing, auditing, and evaluating statements of finance, which should include a level and depth of complexity of issues of accounting that are usually around six to twenty pages.These pages should be alike(p) to the complexity and breadth of matters that can rationall y be anticipated to be introduced by the financial statements registrant (Helms, 2001). The financial experts should be experienced in manage individuals taking part in these financial activities. Additionally, they should understand internal procedures and controls for financial reporting. Another vocation of these experts is to have an understanding of compliance and audit functions.Moreover, they should provide ample opportunity for the external auditors to meet with committee members so that they can fulfill feedback on their individual compliance evaluations relating to auditing, accounting, financial, regulatory and legal practices (Helms, 2001). The financial experts meet with the financial management and independent auditors at the end of the yearly audit to review results of audit which include any recommendations or comments of the external auditors. Moreover, they evaluate changes in the relevant procedures and policies and standards of accounting.Additionally, they r eview the outcomes, which is included in the management letter of the independent auditors and response and exertions of management to be taken. Another duty involves evaluation of the yearly statements of finance and ensures that the external auditors become satisfied with the revealing and content and of the statements of finance. Moreover, they are in charge of the compliance programs implementation connected to business conduct that will make sure that high conduct and ethical standards are complied with and communicated properly to all employees regularly (Moore, 2001).Adequate Documentation Policy The purpose of the constitution of documentation is to ensure that all represent, accounting and financial, data based its learning on adequate, nonsubjective and auditable documentation. The policy of all release or disclosure of statements of finance should be state such that it does not contain false material statement, or leave out a statement of material fact. Addition ally, it should reconcile the information of finance presented including the financial results and condition of business operations.Moreover, all financial and cost data should be based on statistical and financial records that can be verified. The data of cost should be relevant to an approved cost method and on accrual accounting basis (Moore, 2001). Goodwill industries blackball material omissions and misstatements of any data that is arranged on behalf or by the organization. Additionally, presentation of cost, accounting and financial data which is misleading is not acceptable. Moreover, financial data accessible to external reports must follow GAAP.Adequate cost, accounting and financial data should be efficient and effective for the organizations management, should be reliable in relation to applicable business concepts and should be capable of undergoing auditing. Moreover, adequate cost data must have records which support it so as to gain reimbursement by any government or agencies from which finances are gotten. The prerequisite of adequate information insists that data have sufficient details and be accurate in order to get to the goals intended (Keeler, 1992).The financial disclosure statement policy has been introduced by goodwill industries to guarantee the integrity of disclosure of financial, annual statement. The objective of financial disclosure integrates integrity, review of any possible variance of interest between affiliates, officers and board of directors and auditor that can affect the independence of auditors (Keeler, 1992). Another objective is to drive professional competency and ethics standards, performing evaluation of a work product of auditors, and ensure capability of auditors.All these goals are intended to corroborate assessment of management of the performance of the organization, business trends and effects of significant accounting estimates and policies. This is highlighted as the crucial feature of annual disclosure of financial statement. This policy is intended to ensure the truth of documents of corporate finances, highlight the imprecision in all activities of reimbursement and ensure immediate remediation and disclosure of any overpayments place (Keeler, 1992).The goodwill industries ensure that Ethics Code are adopted and applicable to each and every employee and promotes ethical and honest conduct averting of variances of interest timely, fair, accurate and understandable disclosure in the periodic reports of the issuer, and conformance with applicable government regulations and rules. For example, to make sure that the Colorado Springs goodwill industries best interests are fulfilled, the organization has introduced a policy of conflict of interest which applies to all employees, officers and directors.Additionally, the committee will oversee entire financial and other types of disclosures as stated under such a policy (Helms, 2001). Good will industries have a legal policy related to search warrants, subpoenas and other investigations. These policies provide assistance relating to how search warrants, subpoenas and other investigations are handled. This legal policy does not take care of investigations or subpoenas, which a worker may receive and which are not directly linked to their Goodwill employment.The purpose of the policy is to ensure that goodwill organizations cooperate with external audits, searches and investigations of the government. In case of an doubtfulness or a visit from an agency of the government related to legal documents, search warrant and subpoena is received, the CCO (Corporate compliance officer) must be notified. This officer will evaluate the document and ensure that follow up sue is undertaken, including the legal CEO Counsel being notified (Moore, 2001).Members of Staff who receive an enquiry or a visit from an agency of the government regarding any Goodwill Industries should direct such a person to the CCO, and must desist from talk about business matters of the Organization with such an individual until and/or unless CCO gives such a directive. Moreover, members of staff served with a subpoena requiring them to testify on a matter linked to their employment must notify the CCO.The CCO will review the subpoena received immediately and ensure that follow up action is undertaken (Moore, 2001). In conclusion, Goodwill industries ensure that any operation that is carried out by such organization is environmentally friendly. Additionally, such industries have financial experts who ensure that the statements of finance of such organizations are not misrepresented. Therefore, goodwill companies ensure that they employ integrity in all their financial and operational activities.