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Omaha Steve

(99,675 posts) Fri Oct 28, 2016, 08:31 PM Oct 2016

Goodwill Omaha CEO Frank McGree resigns following World-Herald investigation into executive pay

Source: Omaha World Herald

By Henry J. Cordes

The CEO of Goodwill Omaha resigned Friday in the wake of a World-Herald investigation that showed the charity’s top-dollar executive compensation consumes the profits of its signature thrift stores, leaving scant dollars for job programs to assist the needy and disabled.

Frank McGree, the 64-year-old who led the Omaha charity for 30 years, announced Friday he was resigning and taking early retirement, and the charity’s board immediately accepted it, the board announced.

"This decision will allow Goodwill Omaha to refocus its management structure to best fulfill its mission," said the brief statement issued by the board.

Anne Hindery, CEO of the Nonprofit Association of the Midlands, said while it's unclear who will lead Goodwill into the future, typically in such situations someone trusted steps in on an interim basis.

FULL story at link.

Read more: http://www.omaha.com/news/metro/goodwill-omaha-ceo-frank-mcgree-resigns-following-world-herald-investigation/article_40c32854-9d22-11e6-a002-8b246be12469.html

12 replies

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Goodwill Omaha CEO Frank McGree resigns following World-Herald investigation into executive pay (Original Post) Omaha Steve Oct 2016 OP

How I think of Goodwill not fooled Oct 2016 #2

Staffed by near slave labor. nt awoke_in_2003 Oct 2016 #6

If only more media investigations would take place, it'd be a far better world. JudyM Oct 2016 #3

They are too busy awoke_in_2003 Oct 2016 #7

Yep, the race to the bottom. JudyM Oct 2016 #10

Take the money and run, Frank- Way to abscond with the loot! NBachers Oct 2016 #5

He's going to retire like a king with all that money. dalton99 Oct 2016 #8

Amazing article- Thanks hibbing Oct 2016 #9

he needs to be investigated for fraud Skittles Oct 2016 #11

Here's the thing. Non-profits can make profit. They can pay executives ungodly sums. X_Digger Oct 2016 #12

not fooled

(5,801 posts)

2. How I think of Goodwill

Reply to Omaha Steve (Original post)

Fri Oct 28, 2016, 09:00 PM

Oct 2016

Just another for-profit retail store, except with used merchandise.

awoke_in_2003

(34,582 posts)

6. Staffed by near slave labor. nt

Reply to not fooled (Reply #2)

Fri Oct 28, 2016, 09:41 PM

Oct 2016

JudyM

(29,251 posts)

3. If only more media investigations would take place, it'd be a far better world.

Reply to Omaha Steve (Original post)

Fri Oct 28, 2016, 09:02 PM

Oct 2016

awoke_in_2003

(34,582 posts)

7. They are too busy

Reply to JudyM (Reply #3)

Fri Oct 28, 2016, 09:42 PM

Oct 2016

kissing politicians asses to be bothered to upset the apple cart.

JudyM

(29,251 posts)

10. Yep, the race to the bottom.

Reply to awoke_in_2003 (Reply #7)

Sat Oct 29, 2016, 06:38 PM

Oct 2016

NBachers

(17,128 posts)

5. Take the money and run, Frank- Way to abscond with the loot!

Reply to Omaha Steve (Original post)

Fri Oct 28, 2016, 09:17 PM

Oct 2016

dalton99

(781 posts)

8. He's going to retire like a king with all that money.

Reply to Omaha Steve (Original post)

Fri Oct 28, 2016, 09:42 PM

Oct 2016

hibbing

(10,100 posts)

9. Amazing article- Thanks

Reply to Omaha Steve (Original post)

Fri Oct 28, 2016, 10:15 PM

Oct 2016

Guy made over a million and his daughter and daughter in law were pulling down over 100K a year along with a bunch of others. I'm going to have to rethink the whole Goodwill thing.

Peace

Skittles

(153,170 posts)

11. he needs to be investigated for fraud

Reply to Omaha Steve (Original post)

Sun Oct 30, 2016, 02:44 AM

Oct 2016

certainly a tax audit should be scheduled

X_Digger

(18,585 posts)

12. Here's the thing. Non-profits can make profit. They can pay executives ungodly sums.

Reply to Omaha Steve (Original post)

Sun Oct 30, 2016, 12:27 PM

Oct 2016

A 'non-profit' is a misnomer. A better term would be a non-stock corporation.

All 'non-profit' means is that there are no shareholders who receive the profits of the company in the form of dividends.

A special kind of non-profit is a 501(c). These non-profits pay no federal income tax. Their scope is wide- everything from federal credit unions, to cemeteries, to the elks club, or your local horticultural club- all are 501(c) non-profits.

A special kind of 501(c) non-profit is a charity. Donations to a 501(c)(3) charity are tax-deductible. However, a charity can still make profits, and can pay their executives and employees whatever they wish, assuming such compensation is in line with the organization's bylaws.

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