Good News Outreach Foundation
- Assets
- $12.4m
- Revenue
- -$418.6k
- Investments
- $11.6m
- Employees
- 0
- Location
- Missouri City, TX
- Founding
- Data as of
- 12/2023
- EIN
- 84-2034803
Organization Overview
Good News Outreach Foundation is located in Missouri City, 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
C Len Benckenstein Chairman Emeritus | 0.1 | $5,000 | |
Pamela Daniel Secretary & Treasurer/director | 0.25 | $12,500 | |
Neal Johnson Ellis Director | 0.1 | $15,000 | |
John Benckenstein Chairman | 0.1 | $12,500 | |
Jacob Johnson Director | 0.1 | $0 | |
Jay Chadha Director | 0.1 | $15,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $10,640 |
| Dividends & Interest | $311,327 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$741,707 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,129 |
| Total Revenue | -$418,611 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $60,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $4,773 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $8,002 |
| Total operating and administrative expenses | $159,007 |
| Contributions, gifts, grants paid | $215,000 |
| Total expenses and disbursements | $374,007 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $755,258 |
| 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 | $101,634 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $12,378,993 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $564,996 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $564,996 |
Grants Awarded
Over the last fiscal year, Good News Outreach Foundation has awarded $215,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
CHANGING DESTINY PROJECT PURPOSE: SUPPORT GENERAL FUND | $115,000 |
PATHWAYS FOR LITTLE FEET PURPOSE: SUPPORT GENERAL FUND | $50,000 |
STAR OF HOPE MISSION PURPOSE: SUPPORT GENERAL FUND | $50,000 |