Good News Shelter Corporation
- Assets
- $1.9m
- Revenue
- $329.2k
- Investments
- $0.0
- Employees
- 3
- Location
- Lagrange, KY
- Founding
- 03/1999
- Data as of
- 12/2023
- EIN
- 61-1334374
Organization Overview
Good News Shelter Corporation is located in Lagrange, KY. The organization was established in 1999. According to its NTEE Classification (L41) the organization is classified as: Homeless Shelters, under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, Good News Shelter Corporation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Good News Shelter Corporation 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 12/2023, Good News Shelter Corporation generated $329.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.0%) each year. All expenses for the organization totaled $310.0k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (0.5%) per year over the past 7 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
GOOD NEWS HOMES PROVIDES TRANSITIONAL HOUSING FOR FAMILIES WHO CANNOT MAKE ENDS MEET. THEY ARE USUALLY FAMILIES, MOST OFTEN SINGLE WOMEN WITH THEIR CHILDREN, AND THEY ARE STAYING ANYWHERE THEY CAN. THE FACT THAT THEY HAVE NO HOME OF THEIR OWN MEANS THEY HAVE NO STABILITY OR FUTURE FOR THEMSELVES AND THEIR CHILDREN. WHEN GOOD NEWS IS ABLE TO HELP A FAMILY, THE RESULT IS LIFE-CHANGING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED TRANSITIONAL HOUSING & SUPPORTIVE SERVICES TO 26 FAMILIES THROUGH THE BEDFORD, SMITH, AND ANCHOR APARTMENTS (30 ADULTS, 45 CHILDREN); PROVIDED PERMANENT HOUSING TO 3 FAMILIES THROUGH ROSEHAVEN II & WAINO HOUSE (3 ADULTS, 3 CHILDREN); PROVIDED EMERGENCY SERVICES THROUGH UNITED CHARITIES IN HENRY AND TRIMBLE COUNTIES FOR 27 FAMILIES (35 ADULTS, 29 CHILDREN).
GRANTS TO OTHER ORGANIZATIONS
MAINTAIN THREE APARTMENT BUILDINGS, A SINGLE FAMILY HOME, AND ONE DUPLEX - INCLUDING UTILITIES, REPAIRS, AND INSURANCE ON ALL PROPERTIES
DEPRECIATION EXPENSE RELATED TO HOUSING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen Salvadalena Treasurer | OfficerTrustee | 0 | $0 |
Charlotte Dawson Secretary | OfficerTrustee | 0 | $0 |
Rick Lucas Chairman | OfficerTrustee | 0 | $0 |
Jon Dunlap Board Member | Trustee | 0 | $0 |
Denise Hall Board Member | Trustee | 0 | $0 |
Mary Ann Bowling Board Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $157,228 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $94,908 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $252,136 |
| Total Program Service Revenue | $0 |
| Investment income | $2,204 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $52,186 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $20,049 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $329,213 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $28,916 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $61,810 |
| Compensation of current officers, directors, key employees. | $24,724 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $49,347 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,329 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $305 |
| Fees for services: Accounting | $4,436 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $742 |
| Advertising and promotion | $837 |
| Office expenses | $9,771 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $93,331 |
| Travel | $1,531 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $109 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $45,554 |
| Insurance | $1,295 |
| All other expenses | $0 |
| Total functional expenses | $310,040 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $175,078 |
| Savings and temporary cash investments | $318,184 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $1,421,077 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,624 |
| Total assets | $1,927,963 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Secured mortgages and notes payable | $15,674 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,780 |
| Total liabilities | $22,454 |
| Net assets without donor restrictions | $1,902,791 |
| Net assets with donor restrictions | $2,718 |
| 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 | $1,927,963 |