Doug Ostholthoff Success Story
Doug Ostholthoff has been with Ohio Valley Goodwill for more than 40 years. The organization is one of the most successful and largest non-profits in Southwestern Ohio serving more than 3500 individuals annually. In his role as CFO, Doug has been responsible for the organization grow from a $2M/year company, teetering on the edge of bankruptcy, to the healthy $42M organization that it is today. Goodwill has been the proud recipient of significant community recognition including as a finalist for the Better Business Bureau Torch Award for Non-profits as well as outstanding accreditation reviews by the Commission on Accreditation of Rehabilitation Facilities (CARF), an international accreditation body. The standards for both focus in part on financial stewardship, ethics, transparency and accountability practices.
As Chief Financial Officer for Ohio Valley Goodwill, Doug is responsible for directly assisting the President/CEO Joseph S. Byrum, the board of directors and the executive management team in all phases of organizational business practices. As the chief business officer, Doug supervises all financial, legal and human resource issues facing the organization. Consistently, since 2003, the Greater Cincinnati Better Business Bureau has recognized Ohio Valley Goodwill for its adherence to ethical business practices especially in the area of financial stewardship. As part of its normal operations, Ohio Valley Goodwill undergoes an annual audit which in all cases, has resulted in an unqualified opinion outcome, which indicates 100% adherence to all appropriate accounting practices. In addition, as CFO, Doug is responsible for working closely with the Department of Labor and HUD on the regular auditing of grant funding and wage and hour compliance. In all cases, Ohio Valley Goodwill has been deemed to be exceptional in its accounting practices and transparency in its business operations.
As Ohio Valley Goodwill celebrates its 100th anniversary of service this year, it should be noted that a significant part of the organization’s on-going success can be credited to Doug’s careful financial stewardship over the past 40 years. Working in partnership with the organization’s CEO and Board of Directors, Doug’s adherence to prudent and thoughtful financial management has enabled the organization to maintain a healthy economic stability as well as provided the opportunity to expand its programs and services over time to serve more people in the Greater Cincinnati community. Originally housed in its corporate headquarters in the village of Woodlawn, the organization now offers satellite locations on the West side of Cincinnati as well as in Butler, Clermont and Warren counties.
Doug serves as a national mentor through Goodwill Industries International for all chief financial officers and has served in this role for a majority of his career. As a long-time member of the Goodwill Bean Counters group, Doug travels to member organizations throughout the country in an effort to offer and emulate best practices in the financial management arena. As part of the organization’s accreditation review through CARF (the Commission on Accreditation of Rehabilitation Facilities), surveyors have noted that “Ohio Valley Goodwill demonstrated cutting edge human resource practices, outstanding financial management practices and insurance coverage, accurate and comprehensive data management systems and an exceptional outcomes management system.” All of these areas are supervised and managed by Goodwill’s CFO, Doug Ostholthoff, in partnership with the Executive management team.
For the past 40 years, Doug has been involved in a host of community activities which have included acting as the treasurer and board member for the Drop-In Center (a long established shelter for individuals struggling with homelessness); treasurer and mentor for the Fairfield Youth Baseball Association; and treasurer and pilot for the Victory Aviation flight club. He is also currently an official mentor within the Goodwill Industries International (GII) movement for financial and accounting team members throughout the180 member organization. An active member of the CFO committees and the official Bean Counters group, Doug is consistently asked to provide training on proper financing and budgeting procedures and other accounting matters.
When not working, Doug’s passions include golf (he has even been to Ireland to play courses); and flying. He has two adult sons who are also very successful and he enjoys sharing stories about their accomplishments. When asked what achievements he is most proud of Doug talks about his professional accomplishments at Ohio Valley Goodwill and the thousands of people the organization has helped as well as being the father of his two sons. It is Doug’s 40 year commitment to building one of the largest non-profit organizations in Southwest Ohio; his thoughtful and prudent leadership in guiding the company’s growth and overall, financial health as well as his dedication to the Goodwill mission of putting people to work that make Doug an outstanding success story for the month of August during our 100th Anniversary Celebration year.
