Good News Partners
- Assets
- $5.0m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 29
- Location
- Chicago, IL
- Founding
- 03/1988
- Data as of
- 08/2021
- EIN
- 36-3107283
Organization Overview
Good News Partners is located in Chicago, IL. The organization was established in 1988. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 08/2021, Good News Partners employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Good News Partners is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 08/2021, Good News Partners generated $1.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $1.5m during the year ending 08/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
HOUSING FOR LOW INCOME INDIVIDUALS AND FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATING EXPENSES FOR 64 UNIT HOTEL, 1 CO-OP BUILDING, 3 APARTMENT BUILDINGS AND ONE WOMEN'S SHELTER. SERVING LOW INCOME INDIVIDUALS AND FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Stringer Board Chair | OfficerTrustee | 1 | $0 |
Steve Greenhow Vice Chair | OfficerTrustee | 1 | $0 |
Arthur Bud Ogle President-Emeritus | OfficerTrustee | 1 | $0 |
Gary Thompson Treasurer | OfficerTrustee | 8 | $0 |
Timothy Williams Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $437,282 |
| All other contributions, gifts, grants, and similar amounts not included above | $547,550 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $984,832 |
| Total Program Service Revenue | $791,932 |
| Investment income | $27 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,781,397 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $702,086 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $33,625 |
| Payroll taxes | $40,410 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $7,221 |
| Travel | $28,475 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $101,227 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $120,209 |
| Insurance | $45,557 |
| All other expenses | $139,407 |
| Total functional expenses | $1,531,944 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $629,333 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $19,815 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $17,906 |
| Net Land, buildings, and equipment | $3,900,542 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $39,777 |
| Intangible assets | $0 |
| Other assets | $392,584 |
| Total assets | $4,999,957 |
| Accounts payable and accrued expenses | $270,461 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $485,210 |
| Secured mortgages and notes payable | $2,555,265 |
| Unsecured mortgages and notes payable | $150,000 |
| Other liabilities | $503,365 |
| Total liabilities | $3,964,301 |
| Net assets without donor restrictions | $545,488 |
| Net assets with donor restrictions | $490,168 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,999,957 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Good News Partners has recieved totaling $93,050.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $27,550 |
Chicago Coalition For The Homeless Chicago, IL PURPOSE: Shelter Project | $20,000 |
The Pierce Family Charitable Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $10,000 |
Patrick And Anna M Cudahy Fund Chicago, IL PURPOSE: TRANSITIONAL HOUSING AND TEEN PROGRAMS | $10,000 |
The Pierce Family Charitable Foundation Wilmington, DE PURPOSE: CAPACITY BUILDING PROJECTS | $10,000 |
First Housing Foundation Inc Tampa, FL PURPOSE: COMMUNITY DEVELOPMENT | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
North East Community Action Corporation Bowling Green, MO | $19,489,309 | $16,722,475 |
Affordable Housing Development Fund Inc Rockford, IL | $87,465,066 | $18,557,415 |
Chicago Low Income Housing Trust Fund Chicago, IL | $68,435,328 | $24,410,244 |
Interfaith Housing Development Corporation Of Chicago Chicago, IL | $13,790,371 | $15,355,980 |
European American Association Chicago, IL | $18,209,689 | $14,984,488 |
Milwaukee Habitat For Humanity Milwaukee, WI | $24,987,795 | $20,382,762 |
Hispanic Housing Development Corp Chicago, IL | $88,735,655 | $15,154,061 |
Habitat For Humanity International Inc Des Moines, IA | $24,118,438 | $12,529,342 |
Residential Options Inc Alton, IL | $11,785,898 | $11,284,358 |
Habitat For Humanity International Inc Indianapolis, IN | $27,221,776 | $14,208,425 |
Oak Park Residence Corp Oak Park, IL | $43,726,959 | $10,429,189 |
Affordable Housing Partners Inc Carmel, IN | $150,650,716 | $9,214,618 |