GOOD NEWS SHELTER CORPORATION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1998

Legal Domicile

Principal Officer

RICK LUCAS

Phone

5022250351

Tax Period

2023-01-01 to 2023-12-31

GOOD NEWS SHELTER CORPORATION, founded in 1998, is a small nonprofit in the Housing & Shelter sector that reported $329K in total revenue in fiscal year 2023. Revenue fell 35% from the prior year — a significant decline worth monitoring. Expenses of $310K left a modest 6% surplus.

Mission

GOOD NEWS HOMES IS A FAITH-BASED ORGANIZATION THAT EXISTS TO HELP DISPLACED OR AT-RISK FAMILIES, ESPECIALLY THOSE WHO ARE UNDERSERVED, FIND HOUSING AND/OR RELATED RESOURCES THAT CAN HELP THEM BECOME OR STAY SELF-SUFFICIENT.

Program Service Accomplishments

Program 1

Expenses: $115,174 Revenue: $52,186

PROVIDED TRANSITIONAL HOUSING & SUPPORTIVE SERVICES TO 26 FAMILIES THROUGH THE BEDFORD, SMITH, AND ANCHOR APARTMENTS (30 ADULTS, 45 CHILDREN); PROVIDED PERMANENT HOUSING TO 3 FAMILIES THROUGH...

PROVIDED TRANSITIONAL HOUSING & SUPPORTIVE SERVICES TO 26 FAMILIES THROUGH THE BEDFORD, SMITH, AND ANCHOR APARTMENTS (30 ADULTS, 45 CHILDREN); PROVIDED PERMANENT HOUSING TO 3 FAMILIES THROUGH ROSEHAVEN II & WAINO HOUSE (3 ADULTS, 3 CHILDREN); PROVIDED EMERGENCY SERVICES THROUGH UNITED CHARITIES IN HENRY AND TRIMBLE COUNTIES FOR 27 FAMILIES (35 ADULTS, 29 CHILDREN).

Program 2

Expenses: $85,354

MAINTAIN THREE APARTMENT BUILDINGS, A SINGLE FAMILY HOME, AND ONE DUPLEX - INCLUDING UTILITIES, REPAIRS, AND INSURANCE ON ALL PROPERTIES

Program 3

Expenses: $39,649

DEPRECIATION EXPENSE RELATED TO HOUSING.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $252,136

Program Service Revenue $0

Investment Income $2,204

Other Revenue $74,873

TOTAL REVENUE $329,213

Expense Breakdown

Grants Paid $28,916

Salaries & Benefits $119,486

Fundraising Expenses $10,866

Program Expenses $240,177

Other Expenses $161,638

TOTAL EXPENSES $310,040

Year-over-Year Comparison

	2023	2022	Change
Revenue	$329,213	$510,258	-0.4%
Expenses	$310,040	$338,357	-0.1%
Net Income	$19,173	$171,901	-0.9%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

$60,251

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KAREN SALVADALENA	TREASURER	0.00	Officer Director	$0	$0	$0
CHARLOTTE DAWSON	SECRETARY	0.00	Officer Director	$0	$0	$0
RICK LUCAS	CHAIRMAN	0.00	Officer Director	$0	$0	$0
JON DUNLAP	BOARD MEMBER	0.00	Director	$0	$0	$0
DENISE HALL	BOARD MEMBER	0.00	Director	$0	$0	$0
MARY ANN BOWLING	BOARD MEMBER	0.00	Director	$0	$0	$0
STEPHANIE SKEENS	EXECUTIVE DIRECTOR	40.00	Director	$60,251	$0	$60,251
TOM GRACE	VICE CHAIRMAN	0.00	Director	$0	$0	$0
BOB WIDMAN	BOARD MEMBER	0.00	Director	$0	$0	$0
GARY BRICKEN	BOARD MEMBER	0.00	Director	$0	$0	$0
DAVID STOESS	BOARD MEMBER	0.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$329,213	$310,040	$1,927,963	$19,173
2022	$510,258	$338,357	$1,912,149	$171,901
2021	$569,973	$310,431	$1,740,599	$259,542
2020	$285,898	$301,714	$1,508,598	$-15,816
2019	$457,042	$307,307	$1,499,266	$149,735
2018	$289,446	$256,914	$1,350,303	$32,532