Goodwill Owner Net Worth in 2024: CEO Business Model & Income Sources
As of 2024, Steven C. Preston, the current CEO of Goodwill Owner Net Worth is $12 million. Have you ever wondered how much the CEO of a large nonprofit like Goodwill actually makes? Goodwill Industries International, with over 3,200 locations across the United States and Canada, is one of the most well-known organizations.
Quick Bio of Goodwill Owner – Steven Preston
| Attribute | Information |
| Full Name | Steven C. Preston |
| Nick Name | Steven |
| Date of Birth | August 4, 1960 (63 years) |
| Place of Birth | Janesville, Wisconsin, U.S. |
| Religion | Christian |
| Nationality | American |
| Zodiac Sign | Leo |
| Profession | Business Executive |
| Business Ventures | Goodwill Industries International |
| Net Worth | $11 Million |
| Currrent Residence | Chicago, Illinois, U.S. |
Who is the Goodwill Owner?
Steven C. Preston, born on August 4, 1960, is the President and CEO of Goodwill Industries International. He has a distinguished career in public service, having served as the 14th Secretary of the U.S. Department of Housing and Urban Development (HUD) from 2008 to 2009 and as the 22nd Administrator of the U.S. Small Business Administration (SBA) starting in 2006.
What is Goodwill Owner Net Worth in 2024?
Goodwill Owner Net Worth is $12M as per 2024 stats
Last 6 years Growth Goodwill Owner Net Worth
| Year | Revenue (Net Worth) |
| 2024 | $12 Million |
| 2023 | $11 Million |
| 2022 | $8 Million |
| 2021 | $5 Million |
| 2020 | $2 Million |
| 2019 | $1 Million |
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Goodwill’s Business Model & Steven C. Preston Income Sources
CEO Goodwill’s business model revolves around the “social enterprise” concept, combining a non-profit mission with commercial operations to create impressive funding streams. This unique approach allows Goodwill to generate revenue while fulfilling its mission of helping individuals in need.
Real Estate and Property Assets of Preston
CEO Steven Preston has made investments in various properties for personal residences and as sources of income through rental or resale.
Goodwill Owner Stock Holdings and Investments
Preston holds various stock holdings and investments, including stocks, bonds, mutual funds, and other financial projects. These investments are managed carefully to ensure growth over time.
Retail Sales of Goodwill Owner
Goodwill’s retail stores generate revenue by selling donated goods, including clothing, household items, electronics, and furniture. The revenue generated from these sales funds Goodwill’s programs and services.
Donations to the Organization by Steven
Donations from individuals and businesses play a significant role in funding Goodwill’s programs. Donated items are sold in Goodwill stores, generating income for the organization.
Grants and Foundations
Goodwill receives financial support from government agencies, private foundations, and charitable organizations. These grants fund specific programs and initiatives.
Steven’s Corporate Partnerships
Corporate partnerships contribute financially to Goodwill’s programs and services through direct donations, sponsorships, and partnership agreements.
E-commerce by Goodwill Owner
Goodwill sells items online through various e-commerce platforms, reaching more customers and generating additional revenue.
Investment Income of Goodwill Owner
Goodwill also has investment portfolios that generate income in the form of profits, interest, or capital gains.
Goodwill Owner’s Fundraising Events
CEO Goodwill organizes fundraising events to support its income. These events include charity auctions, galas, community fundraisers, and awareness campaigns.
How Goodwill Company Spends Its Income?
Goodwill reinvests its income into the organization to support its mission. Here’s how the income is spent:
Programs and Services offered by Goodwill Owner
A significant portion of the income funds job training, employment hiring, rehabilitation services, and other initiatives aimed at helping individuals achieve economic independence.
Employee Wages and Benefits provided by Goodwill Owner
Goodwill pays employee wages and provides benefits such as health insurance, retirement plans, and professional development opportunities.
Expansion and Development by Goodwill Owner
Funds are used for expanding Goodwill’s reach by opening new thrift store locations and launching additional programs and services.
Goodwill owner’s Investment in Technology
Goodwill Steven invests in technology to streamline operations, enhance online sales capabilities, and improve efficiency in delivering its mission.
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Timeline of Goodwill Owner Steven C. Preston’s Career Highlights
The Timeline of Goodwill Owner is given below:
1992: Early Career Beginnings
- Steven C. Preston begins his professional journey in finance and consulting, working for various firms where he hones his skills in financial management and strategic planning.
2000: Entering the Private Sector
- Preston transitions to the private sector, taking on leadership roles in companies focused on improving operational efficiencies and financial health.
2006: Federal Government Role
- Appointed by President George W. Bush as the Administrator of the Small Business Administration (SBA), where he oversees disaster relief efforts and small business growth initiatives.
2008: Secretary of Housing and Urban Development (HUD)
- Following his success at the SBA, Preston is appointed as the Secretary of HUD, playing a crucial role in addressing the housing crisis during the Great Recession.
2010: Corporate Leadership
- After his tenure in government, Preston returns to the corporate world, serving in executive roles at major companies, including Waste Management and ServiceMaster, where he focuses on strategic growth and operational excellence.
2017: CEO of Goodwill Industries International
- Preston becomes the CEO of Goodwill Industries International, leading the organization in its mission to provide job training, employment placement services, and other community-based programs.
2018: Expansion and Modernization Initiatives
- Under Preston’s leadership, Goodwill undertakes significant modernization initiatives, including the integration of technology to improve operations and expand the reach of its services.
2020: Pandemic Response
- During the COVID-19 pandemic, Preston spearheads efforts to adapt Goodwill’s services to meet the changing needs of communities, ensuring continued support for those affected by the economic downturn.
2022: Advocacy and Partnerships
- Preston focuses on building partnerships with businesses, government agencies, and other non-profits to amplify Goodwill’s impact on workforce development and community support.
2024: Continued Leadership and Vision
- Preston continues to lead Goodwill with a vision for sustainable growth and increased community impact, emphasizing innovation and collaboration to address emerging social challenges.
How Godwill’s salary compares to other nonprofits?
The salary of Goodwill Steven Industries International’s CEO is comparable to that of leaders at other major nonprofits. Similar to other large organizations like the American Red Cross and United Way Worldwide, Goodwill’s CEO compensation reflects the scale and complexity of managing a vast network of services and operations.
While Goodwill’s executive pay is substantial, it is generally in line with the compensation of CEOs at other prominent nonprofits with significant revenue and extensive programs. This level of compensation is often justified by the need to attract and retain top talent capable of overseeing large, multifaceted organizations. However, such salaries also attract scrutiny, especially given the nonprofit sector’s focus on maximizing impact and minimizing overhead costs.
Controversies Related to Goodwill:
- Executive Salaries
Goodwill has faced scrutiny for paying some of its executives very high salaries, despite being a nonprofit organization. This has raised concerns about whether a charitable organization should have such a large wage gap between its executives and entry-level employees. - Donations and Resale Practices
Some critics have raised concerns about Goodwill’s donation practices. Donors give items under the assumption they are helping the needy, but Goodwill often resells those items at a profit. While this is part of their business model to fund job training and other services, some argue that the resale prices can be too high for those in need.
Goodwill CEO Age, Height and Weight
| Age | 63 Years |
| Height | 5 feet 10 inches |
| Weight | 82 KG |
| Hair Color | Gray |
| Eyes Color | Brown |
| Ethnicity | White |
Goodwill CEO Salary Compensation and Benefits
The salary of Goodwill’s CEO, Steven C. Preston, is around $500,000 per year. In addition to the base salary, Preston receives bonuses and additional compensation based on the organization’s financial performance. Executive benefits include a company car, expense accounts, club memberships, and vacation allowances. Other benefits include health insurance, retirement plans, and stock options.
Final Words
Steven C. Preston, the CEO and president of Goodwill Industries International, has an estimated net worth of $11 million.
Goodwill’s business model combines a nonprofit mission with commercial operations to create a sustainable revenue stream. For more updates on Steven C. Preston and Goodwill Industries, stay tuned.
