Good News Foundation
- Assets
- $203.7k
- Revenue
- $29.4k
- Investments
- $182.8k
- Employees
- 0
- Location
- Kerrville, TX
- Founding
- 02/2006
- Data as of
- 12/2023
- EIN
- 83-0409795
Organization Overview
Good News Foundation is located in Kerrville, TX. The organization was established in 2006. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Good News Foundation 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 Foundation generated $29.4k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 13.8% each year . All expenses for the organization totaled $14.7k during the year ending 12/2023. While expenses have increased by 4.7% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
NONE
NONE
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jack R Lousma President | 4 | $0 | |
Gralia K Lousma Vice President/secretary | 2 | $0 | |
Joseph L Lousma Vice President | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $18,000 |
| Interest on Savings | $14 |
| Dividends & Interest | $5,994 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $5,423 |
| Capital Gain Net Income | $5,423 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $29,431 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $188 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $2,088 |
| Contributions, gifts, grants paid | $12,600 |
| Total expenses and disbursements | $14,688 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,926 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $182,786 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $203,712 |
| 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 Foundation has awarded $12,600 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
ELEVATION CHURCH PURPOSE: GENERAL PURPOSES | $500 |
FAMILY RESEARCH COUNCIL PURPOSE: GENERAL PURPOSES | $500 |
HILLSDALE COLLEGE PURPOSE: GENERAL PURPOSES | $500 |
IN TOUCH MINISTRIES PURPOSE: GENERAL PURPOSES | $1,000 |
LOVE ISREALORG PURPOSE: GENERAL PURPOSES | $400 |
MISSIONARY AVIATION FELLOWSHIP PURPOSE: GENERAL PURPOSES | $400 |