Good News Outreach Foundation
- Assets
- $13.4m
- Revenue
- $1.2m
- Investments
- $12.1m
- Employees
- 0
- Location
- Houston, TX
- Founding
- Data as of
- 12/2021
- EIN
- 84-2034803
Organization Overview
Good News Outreach Foundation is located in Houston, TX. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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 Outreach 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 12/2021, Good News Outreach Foundation generated $1.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (56.5%) each year. All expenses for the organization totaled $221.5k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (58.1%) per year over the past 3 years. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pamela Daniel Secretary/director | 0.25 | $10,000 | |
Neal Johnson Ellis Vice Chairman & Vice Pres/director | 0.1 | $10,000 | |
C Len Benckenstein Chairman & President/director | 0.1 | $10,000 | |
John Benckenstein Director | 0.1 | $10,000 | |
Stephen Simpson Director | 0.1 | $7,500 | |
Oakley Hall Treasurer/director | 0.1 | $2,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $17,376 |
| Dividends & Interest | $187,048 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,034,029 |
| Capital Gain Net Income | $1,034,029 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,598 |
| Total Revenue | $1,240,051 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $55,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $16,584 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $47 |
| Printing and publications | $0 |
| Other expenses | $7,521 |
| Total operating and administrative expenses | $186,509 |
| Contributions, gifts, grants paid | $35,000 |
| Total expenses and disbursements | $221,509 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,380,873 |
| 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 | $306,837 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $13,431,108 |
| 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 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Arnall Family Foundation Inc Oklahoma City, OK | $11,371,239 | $12,792,638 |
Houston Endowment Inc Houston, TX | $2,683,938,862 | $265,655,014 |
J E And L E Mabee Foundation Inc Midland, TX | $754,241,961 | $130,151,698 |
Rainwater Charitable Foundation Fort Worth, TX | $856,887,520 | $46,265,349 |
The Samuel Roberts Noble Foundation Ardmore, OK | $1,183,090,626 | $85,581,097 |
Kinder Foundation Houston, TX | $141,449,180 | $60,608,944 |
Rees-Jones Foundation Dallas, TX | $0 | $116,553,438 |
Meadows Foundation Incorporated Dallas, TX | $777,502,701 | $134,484,682 |
Rob And Melani Walton Foundation Bentonviille, AR | $541,056,642 | $120,568,910 |
Amon G Carter Foundation Fort Worth, TX | $464,730,205 | $54,557,293 |
Wend Ii Inc Bentonville, AR | $174,655,774 | $207,303,582 |
Anne And Henry Zarrow Foundation Tulsa, OK | $347,173,230 | $36,385,260 |