Goodword Partnership
Goodword Partnership shows volatile revenue and occasional deficits, but maintains low liabilities and zero officer compensation.
EIN: 203545214 · Minneapolis, MN · NTEE: X20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $454K |
| Total Expenses | $681K |
| Program Spending | 80% |
| Net Assets | $404K |
| Transparency Score | 75/100 |
Is Goodword Partnership Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Goodword Partnership directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Goodword Partnership
Goodword Partnership (EIN: 203545214) is a nonprofit organization based in Minneapolis, MN, classified under NTEE code X20. The organization reported total revenue of $454K and total assets of $365K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Goodword Partnership's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Goodword Partnership is a small nonprofit that has been operating for 20 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 5.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $407K |
| Total Expenses | $681K |
| Surplus / Deficit | $-273,437 |
| Total Assets | $408K |
| Total Liabilities | $3K |
| Net Assets | $404K |
| Operating Margin | -67.1% |
| Debt-to-Asset Ratio | 0.8% |
| Months of Reserves | 7.2 months |
Financial Health Grade: B
In 2023, Goodword Partnership reported a deficit of $273K with expenses exceeding revenue, holds 7.2 months of operating reserves (strong position), has a debt-to-asset ratio of 0.8% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Goodword Partnership's revenue has grown at a compound annual growth rate (CAGR) of 5.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -66.8% | -20.1% | -40.1% |
| 2022 | +289.2% | +214.6% | +123.4% |
| 2021 | -4.7% | +4.9% | +6.5% |
| 2020 | +10.0% | -28.3% | +43.9% |
| 2019 | +1.7% | +26.7% | -22.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Goodword Partnership with a Mission Score of 75 out of 100 (Good). 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: 80%
- fundraising: 5%
According to IRS 990 filings, Goodword Partnership allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $273K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.8%.
Executive Compensation Analysis
Goodword Partnership consistently reports 0% officer compensation across all 13 filings, indicating that no funds are allocated to executive salaries, which is highly commendable for a nonprofit of its size.
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 Goodword Partnership's IRS 990 filings:
- Significant revenue volatility (e.g., $1.2M in 2022 to $407K in 2023)
- Expenses exceeding revenue in multiple periods (e.g., 2023, 2019, 2017)
- Potential over-reliance on inconsistent funding sources given revenue swings
Strengths
The following positive indicators were identified for Goodword Partnership:
- Consistent reporting of 0% officer compensation across all filings
- Very low liabilities relative to assets, indicating good debt management
- Long history of IRS 990 filings demonstrating transparency
- Overall asset growth over the past decade
Frequently Asked Questions about Goodword Partnership
Is Goodword Partnership a legitimate charity?
Based on AI analysis of IRS 990 filings, Goodword Partnership (EIN: 203545214) some concerns. Mission Score: 75/100. 3 red flags identified, 4 strengths noted.
How does Goodword Partnership spend its money?
Goodword Partnership directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Goodword Partnership tax-deductible?
Goodword Partnership is registered as a tax-exempt nonprofit (EIN: 203545214). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Goodword Partnership's spending goes to programs?
Goodword Partnership directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Goodword Partnership compare to similar nonprofits?
With a transparency score of 75/100 (Good), Goodword Partnership is above average for NTEE category X20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Goodword Partnership located?
Goodword Partnership is headquartered in Minneapolis, Minnesota and files with the IRS under EIN 203545214. It is classified under NTEE code X20.
How many years of IRS 990 filings does Goodword Partnership have?
Goodword Partnership has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $454K in total revenue.
Is Goodword Partnership a good charity?
Goodword Partnership exhibits strong transparency with consistent 990 filings and zero reported officer compensation. While it has experienced revenue volatility and occasional deficits (e.g., $273,437 deficit in 2023), its low liabilities and commitment to not paying executive salaries are positive indicators. Donors should consider the organization's program effectiveness given the financial fluctuations.
Why did Goodword Partnership's revenue drop significantly in 2023?
Goodword Partnership's revenue decreased from $1,227,936 in 2022 to $407,472 in 2023. This significant drop suggests a potential reliance on a large, non-recurring grant or donation in 2022, or a substantial decrease in funding sources in 2023. Further investigation into their funding streams would be beneficial.
How does Goodword Partnership manage its expenses?
Goodword Partnership's expenses have fluctuated, sometimes exceeding revenue, as seen in 2023 ($680,909 expenses vs. $407,472 revenue) and 2019 ($359,824 expenses vs. $300,804 revenue). This indicates periods where the organization spent more than it brought in, which could impact long-term financial health if not managed effectively.
Filing History
IRS 990 filing history for Goodword Partnership showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Goodword Partnership's revenue has grown by 85.9%, moving from $219K to $407K. Total assets increased by 635.7% over the same period, from $55K to $408K. Total functional expenses rose by 286%, from $176K to $681K. In its most recent filing year (2023), Goodword Partnership reported a deficit of $273K, with expenses exceeding revenue. The organization holds $3K in liabilities against $408K in assets (debt-to-asset ratio: 0.8%), resulting in net assets of $404K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $407K | $681K | $408K | $3K | — | — |
| 2022 | $1.2M | $852K | $681K | $3K | — | View 990 |
| 2021 | $315K | $271K | $305K | $3K | — | View 990 |
| 2020 | $331K | $258K | $286K | $30K | — | View 990 |
| 2019 | $301K | $360K | $199K | $15K | — | View 990 |
| 2018 | $296K | $284K | $257K | $14K | — | View 990 |
| 2017 | $315K | $377K | $242K | $11K | — | View 990 |
| 2016 | $291K | $257K | $299K | $5K | — | View 990 |
| 2015 | $316K | $285K | $264K | $4K | — | View 990 |
| 2014 | $457K | $353K | $239K | $10K | — | View 990 |
| 2013 | $365K | $275K | $133K | $9K | — | View 990 |
| 2012 | $246K | $266K | $40K | $7K | — | View 990 |
| 2011 | $219K | $176K | $55K | $2K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $407K, expenses of $681K, and assets of $408K (revenue -66.8% year-over-year).
- 2022: Revenue of $1.2M, expenses of $852K, and assets of $681K (revenue +289.2% year-over-year).
- 2021: Revenue of $315K, expenses of $271K, and assets of $305K (revenue -4.7% year-over-year).
- 2020: Revenue of $331K, expenses of $258K, and assets of $286K (revenue +10.0% year-over-year).
- 2019: Revenue of $301K, expenses of $360K, and assets of $199K (revenue +1.7% year-over-year).
- 2018: Revenue of $296K, expenses of $284K, and assets of $257K (revenue -6.2% year-over-year).
- 2017: Revenue of $315K, expenses of $377K, and assets of $242K (revenue +8.3% year-over-year).
- 2016: Revenue of $291K, expenses of $257K, and assets of $299K (revenue -8.0% year-over-year).
- 2015: Revenue of $316K, expenses of $285K, and assets of $264K (revenue -30.8% year-over-year).
- 2014: Revenue of $457K, expenses of $353K, and assets of $239K (revenue +25.2% year-over-year).
- 2013: Revenue of $365K, expenses of $275K, and assets of $133K (revenue +48.3% year-over-year).
- 2012: Revenue of $246K, expenses of $266K, and assets of $40K (revenue +12.4% year-over-year).
- 2011: Revenue of $219K, expenses of $176K, and assets of $55K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Goodword Partnership:
Data Sources and Methodology
This transparency report for Goodword Partnership 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.