Good News Ministries
- Assets
- $827.3k
- Revenue
- $323.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Midland, TX
- Founding
- 07/1996
- Data as of
- 12/2020
- EIN
- 75-2629527
Organization Overview
Good News Ministries is located in Midland, TX. The organization was established in 1996. According to its NTEE Classification (X21) the organization is classified as: Protestant, under the broad grouping of Religion-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Good News Ministries 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 12/2020, Good News Ministries generated $323.1k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 38.1% each year . All expenses for the organization totaled $31.1k during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Good News Ministries has awarded 28 individual grants totaling $1,975,954. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2020
Describe the Organization's Program Activity:
Part 3 - Line 4a
RELIGIOUS ACTIVITES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard H Coats Vice President/secretary | 4 | $0 | |
Skip Hedgpeth President | 1 | $0 | |
Willard B Robbins III Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $50,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $273,139 |
| Total Revenue | $323,139 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $5,092 |
| Total operating and administrative expenses | $7,067 |
| Contributions, gifts, grants paid | $24,000 |
| Total expenses and disbursements | $31,067 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $762,278 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $65,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $827,278 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Good News Ministries has awarded $1,830,000 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
AGUSTIN MARTINEZ PURPOSE: TO ASSIST AND SUPPORT THE SERVICES AND PROGRAMS OF THE FOUNDATION. | $18,000 |
DAVID GERALDINE PENICK PURPOSE: TO ASSIST AND SUPPORT THE SERVICES AND PROGRAMS OF THE FOUNDATION. | $6,000 |
CHRIST CHURCH ANGLICAN PURPOSE: TO ASSIST AND SUPPORT THE SERVICES AND PROGRAMS OF THE FOUNDATION. | $500,000 |
MOUNT CARMEL MINISTRIES PURPOSE: TO ASSIST AND SUPPORT THE SERVICES AND PROGRAMS OF THE FOUNDATION. | $150,000 |
LUTHERAN SUNSET MINISTRIES PURPOSE: TO ASSIST AND SUPPORT THE SERVICES AND PROGRAMS OF THE FOUNDATION. | $500,000 |
JANET ABNER PURPOSE: TO ASSIST AND SUPPORT THE SERVICES AND PROGRAMS OF THE FOUNDATION. | $4,500 |