Better Business Bureau Report for
Good News Shelter

Better Business Bureau Report issued November 2010
Better Business Bureau Report expires November 2013


Does not meet one or more standards
This charity does not meet one or more of the 20 standards for Charity Accountability. Find out more...


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Charity Contact Information

Name: Good News Shelter
Address: 210 E. Madison Street
  LaGrange, KY 40031
Phone: 502-225-0351
Web Address: www.goodnewshomesky.com
Also known as:Good News Homes
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Better Business Bureau Comments

Year, State Incorporated: 1998, Kentucky
Affiliates: None
Stated Purpose: The mission of the Good News Shelter Corporation (also known as Good News Homes) is 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.

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Evaluation Conclusions

              

Good News Shelter does not meet the following Standard for Charity Accountability.

Standard 11: Financial Statements - Make available to all, on request, complete annual financial statements prepared in accordance with generally accepted accounting principles. When total annual gross income exceeds $500,000, these statements should be audited in accordance with generally accepted auditing standards. For charities whose annual gross income is less than $500,000, a review by a certified public accountant is sufficient to meet this standard. For charities whose annual gross income is less than $250,000, an internally produced, complete financial statement is sufficient to meet this standard.

Financial statements submitted for 2008 were not audited or reviewed by a certified public accountant (CPA).

In response to this finding the charity stated that:

"the necessity to conduct an audit is financially impossible in the current financial climate, since our expenses are not keeping pace with our projected income. According to our accountant, the fee for this service would be an additional $3,000 on top of the current expense we already incur for tax preparation."
Good News Shelter meets the remaining 19 Standards for Charity Accountability.
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Programs

              

Good News Shelter Corporation operates a transitional housing program that provides housing and support services to low-income families in Oldham and Trimble counties. The agency also assesses the needs of applicant families and refers them to community resources, as available and appropriate. In addition to the operation of several transitional housing units, the agency also provides Safe Havens emergency housing and helps families obtain other subsidized housing, and maintains a directory of local housing units.

For the fiscal year ended December 31, 2009, Good News ShelterGood News Shelter 's program expenses were:

  
Program service 184,133
Total Program Expenses: $184,133
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Governance

              

Chief Executive : Barbara Fendley, Executive Director
Compensation*: 

Chair of the Board: Harold R. Smith
Chair's Profession / Business Affiliation: Attorney, Retired

Board Size: 8

Paid Staff Size: 4

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Fund Raising

              

Method(s) Used:

Fund raising methods include invitations to fund raising events, grant proposals, and website and newsletter solicitations.


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Tax Status

              

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

              

The following information is based on Good News ShelterGood News ShelterGood News ShelterGood News ShelterGood News ShelterGood News ShelterGood News ShelterGood News ShelterGood News ShelterGood News ShelterGood News ShelterGood News ShelterGood News ShelterGood News ShelterGood News ShelterGood News ShelterGood News ShelterGood News ShelterGood News ShelterGood News ShelterGood News ShelterGood News ShelterGood News ShelterGood News ShelterGood News Shelter 's IRS Form 990 for the fiscal year ended December 31, 2008.

Ending net assets as reported below include $600,134 in unrestricted net assets and $1,628 in temporarily restricted net assets.

Total assets as reported include $631,025 in invested in land, buildings, and equipment.

Source of Funds  
Government grants 127,343
Contributions 64,315
Fundraising events 8,463
Rents 2,320
Total Income $202,441


chart



Uses of Funds as a % of Total Expenses

Programs: 86%    Administrative: 14% 

Total income $202,441
Program expenses $184,133
Fund raising expenses
Administrative expenses 30,263
Total expenses $214,396
Expenses in Excess of Income (11,955)
Beginning net assets 613,717
Ending net assets 601,762
Total liabilities 62,203
Total assets $663,965


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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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