Good News Home Inc

Is Good News Home Inc Legit?

Some Concerns

Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

Good News Home Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

About Good News Home Inc

Good News Home Inc (EIN: 222481670) is a nonprofit organization based in Flemington, NJ, classified under NTEE code F34Z. The organization reported total revenue of $1.3M and total assets of $880K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Good News Home Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Good News Home Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

• admin: 15%
• programs: 75%
• fundraising: 10%

According to IRS 990 filings, Good News Home Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Executive compensation is reported as $0 across all available filings, suggesting a volunteer-led executive team or that compensation is not disclosed under this category.

Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.

Red Flags

The following concerns were identified during AI analysis of Good News Home Inc's IRS 990 filings:

• Consistent reporting of 0% compensation for key employees may indicate a lack of transparency regarding executive salaries if paid positions exist.

Strengths

The following positive indicators were identified for Good News Home Inc:

• Strong program spending, consistently allocating a high percentage of expenses to direct programs.
• Stable revenue and asset base over multiple years, demonstrating financial resilience.
• Low and consistent liabilities, indicating responsible financial management.

Frequently Asked Questions about Good News Home Inc

Filing History

IRS 990 filing history for Good News Home Inc showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Good News Home Inc's revenue has grown by 57.5%, moving from $693K to $1.1M. Total assets increased by 25.6% over the same period, from $712K to $893K. Total functional expenses rose by 58.4%, from $702K to $1.1M. In its most recent filing year (2023), Good News Home Inc reported a deficit of $21K, with expenses exceeding revenue. The organization holds $139K in liabilities against $893K in assets (debt-to-asset ratio: 15.6%), resulting in net assets of $754K.

Year-by-Year Financial Summary

• 2023: Revenue of $1.1M, expenses of $1.1M, and assets of $893K (revenue +5.8% year-over-year).
• 2022: Revenue of $1.0M, expenses of $1.0M, and assets of $923K (revenue -2.5% year-over-year).
• 2021: Revenue of $1.1M, expenses of $975K, and assets of $892K (revenue +28.9% year-over-year).
• 2020: Revenue of $820K, expenses of $867K, and assets of $846K (revenue -2.4% year-over-year).
• 2019: Revenue of $840K, expenses of $871K, and assets of $857K (revenue +1.4% year-over-year).
• 2018: Revenue of $829K, expenses of $861K, and assets of $874K (revenue -3.6% year-over-year).
• 2017: Revenue of $860K, expenses of $791K, and assets of $923K (revenue +22.3% year-over-year).
• 2016: Revenue of $703K, expenses of $710K, and assets of $822K (revenue -22.2% year-over-year).
• 2015: Revenue of $904K, expenses of $729K, and assets of $800K (revenue +28.4% year-over-year).
• 2014: Revenue of $704K, expenses of $702K, and assets of $607K (revenue +7.4% year-over-year).
• 2013: Revenue of $656K, expenses of $699K, and assets of $608K (revenue -3.4% year-over-year).
• 2012: Revenue of $679K, expenses of $732K, and assets of $656K (revenue -2.0% year-over-year).
• 2011: Revenue of $693K, expenses of $702K, and assets of $712K.

Data Sources and Methodology

This transparency report for Good News Home Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.

IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.