'Goodwill Industries Essay\r'

' grace of God Industries be establishments for nonprofit reservation that add or r fetch uper employment, familiarity ground broadcasts, side work, and cheat riseing to persons that end non access proper education, disabled individuals and the unemployed. A huge net profit of institutions of retail thrift, that exits as schemes of nonprofit formations, sponsor good exit industries. A big(a) portion of gracility industries pay is donated dots from retail instals. The society’s generous donations of rest home recrudesceicular propositions and clothing rear the store’s merc gloveise.\r\nSuch donations be circumstantial to good leave behind industries mission of Colorado Springs, both donating and obtain in their stores, give a hand in halting syllabuss for manpower reading that serve more than than 45000 muckle either year in northwestern United States N. C (Helms, 2001). seemliness Industries atomic number 18 nonprofit making organi zations that render or add employment, job training, placement service and community based programs to populate who arrive no proper access to education, to those who discombobulate a disability, unemployed.\r\n thanksgiving is sponsored by a massive network of retail thrift institution which in addition operates as nonprofit organizations. Goodwill Industries works hand in hand with employers to identify otherwise people who set apart for employment opportunities available at whatsoever occurrence time (Helms, 2001). A substantial portion of the monetary support of Goodwill Industries comes from the sales of donated goods in various stores. merchandise in this stores is provided via generous donations things much(prenominal)(prenominal)(prenominal) as ho implement go along items, clothing’s and from different communities. Such donations atomic number 18 critical the mission of Goodwill Industries (Moore, 2001).\r\nGoodwill Industries accepts textile donations of whatsoever kind, such as cars, computers and boats. The common donations tot each(prenominal)yow in; clothing, shoes, house w bes such as dinnerw be, pans and pots, kitchen utensils and flatware. Sm wholly appliances are in like manner common donations like blenders, toasters, juicers and mixers; bicycles; toys; sporting equipment; books; collectables; furniture; tools; decorations; computers among others (Moore, 2001). Goodwill industries en accredited that business accomplishments and community activities are carried on in an environment whatsoevery friendly manner.\r\nThe Industry is commit in turning get rid of things into useable intersections, and where they cannot salvage an item; they command that pure(a) recycling methods are utilized (Moore, 2001). Goodwill’s Mission Goodwill industries sell donated goods. The profits generated by the sales fund training opportunities for various those with irritate in finding and keeping jobs. They also train and hire individuals with disabilities. These disabilities can be mental or physical due to lack of previous work experience, housewives re-entering the job securities industry, come come forwarddated work skills, senior citizens, and people with limited communication skills (Moore, 2001).\r\nGoodwill Industries serve people experiencing breastworks in employment and related circumstances. A barrier to employment acknowledge development age, disabilities, learning disabilities, virtuoso parenthood, lack of education, language barriers, felony history, prolonged absence from the workforce (such as disabled veterans or displaced homemakers), substance abuse, co-occurring dis shows, inherent neglect or violence, homelessness, and physical ch allenges. These Industries serve to put in for such people and hence contributing to frugal development in the long run.\r\nThe Supported syllabus for employment is projected for only those with significance of disability. It provides great comprehensive support to the victims in orderliness to outgrowth their opportunity for world successful on their germane(predicate) job (Moore, 2001). Goodwill Industries only accepts only those items that are in excellent shape. For instance if the items let in electronics they know to be fully operational. Goodwill Industry does not perform repairing services.\r\nIn case it accepts non functional items without its knowledge, it contracts a salvage comp some(prenominal) to clear from its stores non working items such as radios, televisions, microwaves, cameras and similar products working order (Moore, 2001). Goodwill can suggest pick up services for organizations, businesses and schools that would be vexed to donate: overstock, scratch and dent, location furniture and surplus inventory. Goodwill Industries have created policies divine service them follow up and keep constant way of all donated items. These policies also aids in preventing frauds.\r\nTo bring forth wi th, both(prenominal) donated goods that are yet to been processed cannot be issued or sold before they reach the applicable retail stores. After they are processed, they are distributed to store randomly (Helms, 2001). Goodwill Industries also provide race solutions for adults via various programs. These programs hold, computer classes, forklift certification, job readiness sessions, Microsoft self-assurance Suite classes, security guard training, call mid present training, janitorial services, counseling and job placement, customer and retail, service basics, and also transitional employment services.\r\nGoodwill 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 defeat taxes on second hand goods an especially clothes which acts as a major(ip) advantage for Goodwill Industries (Helms, 2001). These industries off er retail jobs, which include; Retail sales clerks, Administrative, support staff, processors and precaution younker services staff, Truck drivers/helpers Rehabilitation program aides, mature services staff, material handlers and Donation center attendants.\r\nThese employees be intimate accrued benefit such as wellness insurance, vacation, Competitive wages, dental insurance, holiday and a seclusion plan (Helms, 2001). Goodwill Industries do not hold fundraising events or solicit cash donations, but monetary donations are gratefully accepted. Most of these Industries set offer 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.\r\nThey are also involved in: shrink Wrapping, Mailing, Blister Packing, workmanship projects and Stuffing Envelopes (Keeler, 1992). Goodwill Industries strive to ensure that their stores are invariably full of fresh products. Merchandise system in the retail stores for few weeks, and then it is pronounced down severally after few weeks. If the item does not sell after a stipulation time, it is transferred to any Clearance Center where it is offered at an amount. If the items tranquilize fail to sell in the Clearance Center, they are sold in bulk to third society recyclers or recycled (Moore, 2001). Goodwill Industries make sales online.\r\nThey have created online bidding sites that require bidders to register online in order to browse, place bid and be able to defile any item that is available for sale. This site commonly notify bidders whenever they are outbid on an item and if they have lost or won the auctioneer (Keeler, 1992). on the whole 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 can’t be salvaged a proper method of recycling i s ensured. By so doing, they are able to call themselves upstanding citizens of environment (Helms, 2001).\r\nPolicy of Goodwill Industries Goodwill industries are dedicated to services delivery in an environment that is conformed to the highest standards of presidency accountability, pecuniary precaution, developmental training, marketing and business. Goodwill industries leading is committed to the need to detect and prevent fraud, peculation of funds, fiscal focus and hence maintenance and development of a bodily ossification formal program to ascertain conformance and ongoing monitoring with all restrictive requirements that are legal.\r\nAdditionally, the organization is dedicated to the maintenance, capital punishment and establishment of a program of corporate conformance that insists on a number of things (Moore, 2001). Firstly, avoid prostitute doings, which can be both unintentional or intentional, and immediate investigation and reporting of questionable prac tices 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 backing at jeopardy (Moore, 2001).\r\nProcedures of Goodwill Industries The operations of goodwill industries entail the following procedures. The board of directors through authoritative declaration, delegates’ general responsibility for the program of corporate contour to the chief operating officer/ president with supervisory responsibilities allocated to the charge specifically the finance Committee. The CEO/ Preside will assess the program of the corporate compliance of the brass and provide regular and biennial reports to the whole plug-in of Directors and commissioning on issues relating to the program.\r\nThe CEO officially delegates to the Administration and Finance Vice professorship as Officer of the bodied Compliance. The Officer of Corporate compliance ha s various responsibilities (Moore, 2001). The setoff responsibility is providing staff assistance to the Financial Committee and works as the main contact point of the administration for all issues of corporate compliance, which include glide path up with recommendations to the Board of directors, the Committee and CEO/President and regular reporting on activities of compliance (Helms, 2001)..\r\n some other responsibility is to monitor, implement and develop †on a representent and regular basis †the program corporate compliance of the organization, which include all systems and procedures, reporting and inquiring processes, auditing, and remote and internal monitoring (Helms, 2001). Thirdly, the committal is responsible for monitoring, coordinating and scheduling periodic and regular reviews of areas of risk by competent external and/or internal persons to the organization.\r\nThese reviews will supplement the yearly audit of the organization’s system of a ccount instruction and offer an additive inner measure. This is to make sure that it complies with pecuniary practices and policies that will endure the thorough examination of any regulatory examination or audit. Another responsibility of the military commission is that it has unimpeded and directs access to the independent auditors of the organization, legal ashes on issues that relate to compliance of the organization, board of directors and CEO/president (Helms, 2001).\r\nThe reports to the Board of directors, the perpetration 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 exposition of all complete corrective accomplishments expungen and thirdly, any recommendations to changes in procedures and/or policies of the organization.\r\nThe summary will consist of incidents of theft of funds of Goodwill an d or pattern, product of irregularities in finances, significant irregularities in bill and/or errors, investigations of media related to ethics and confidentiality breach (Moore, 2001). Committee defining The Board’s Finance Committee shall be in charge of oversight of all activities of 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 excise the use of their independent decision as members of the Committee.\r\nThe Committee of such organization shall meet more than two geezerhood annually, and as frequent as the situation requires. The committee of goodwill industries shall keep all the meetings’ minutes to instrument its recommendations and activities (Moore, 2001). Primary Committee’s Goals The committee helps the Board in accomplishing its fiduciary duties relating to financial and legal compliance with applicable policies, industry guid elines laws, and regulatory requirements.\r\nAdditionally, it is in charge of all practices of auditing reporting and method of accounting, whose goal is to reveal accurately and properly the financial condition and status of the Organization (Keeler, 1992). Another responsibility of the committee is to oversee the implementation and adoption of procedures and policies that will necessitate for the industry and its workers to coincide fully with all relevant polices, regulations and laws. Moreover, it helps the board to perform its tasks to stakeholders that relate to fairness and quality of financial reporting, practices of financial reporting, and policies of accounting (Keeler, 1992).\r\nDuties 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 essentialiness have a general understanding of GAAP and an understanding of statements of financ e. Additionally, such persons should have an in depth 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 dollar bill pages.\r\nThese pages should be comparable to the complexity and breadth of matters that can rationally be anticipated to be introduced by the financial statements’ registrant (Helms, 2001). The financial experts should be experienced in supervising individuals taking part in these financial activities. Additionally, they should understand internal procedures and controls for financial reporting. Another trading of these experts is to have an understanding of compliance and audit functions.\r\nMoreover, they should provide ample opportunity for the external auditors to meet with committee members so that they can receive feedback on their individual compliance evaluations relating to auditing, accounting, financ ial, 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 applicable procedures and policies and standards of accounting.\r\nAdditionally, they review the outcomes, which is included in the management letter of the independent auditors and response and pull throughs 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 revelation and fill and of the statements of finance. Moreover, they are in charge of the compliance program’s implementation connected to business necessitate that will make sure that high necessitate and ethical standards are complied with and communicated properly to all employees on a regular basis (Moore, 2 001).\r\nAdequate Documentation Policy The purpose of the insurance polity of documentation is to ensure that all cost, accounting and financial, info based its learning on fitted, verifiable and auditable documentation. The policy of all release or apocalypse of statements of finance should be stated such that it does not defy false material statement, or leave out a statement of material fact. Additionally, it should reconcile the information of finance presented including the financial results and condition of business operations.\r\nMoreover, 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 canonic costing method and on accrual accounting basis (Moore, 2001). Goodwill industries prohibit 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 mislead is not a cceptable. Moreover, financial data accessible to external reports must follow GAAP.\r\nAdequate cost, accounting and financial data should be efficient and effective for the organization’s management, should be reliable in sexual 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 establishment or agencies from which finances are gotten. The necessity of adequate information insists that data have suitable details and be accurate in order to achieve the goals intended (Keeler, 1992).\r\nThe 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 promote master key competency and ethics standards, performing evaluation of a work product of auditors, and ensure capability of auditors.\r\nAll these goals are intended to validate 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 fair play of documents of corporate finances, highlight the imprecision in all activities of reimbursement and ensure immediate remediation and disclosure of any overpayments identified (Keeler, 1992).\r\nThe goodwill industries ensure that Ethics decree 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 conforma nce 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.\r\nAdditionally, 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 chase warrants, serves 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 whitethorn receive and which are not directly think to their Goodwill employment.\r\nThe 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 fr om an agency of the government related to legal documents, search warrant and subpoena is get, the CCO (Corporate compliance officer) must be notified. This officer will evaluate the document and ensure that follow up action is undertaken, including the legal CEO Counsel being notified (Moore, 2001).\r\nMembers of Staff who receive an inquiry 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 talking 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.\r\nThe 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. Add itionally, 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.\r\n'