Good News II Inc of Statesville

Analysis

Good News II Inc of Statesville is a registered charity in United States, based in Statesville, NC. It received its IRS tax-exemption ruling in March 1984, 42 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Good News II Inc of Statesville reported income of $407k and spending of $361k, spending 89% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $353k to $407k (+15%), an average of +3.6% a year. The sharpest change came in the year to December 2020, when income rose by 21%. Over the whole period it spent 89% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Good News II Inc of Statesville sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 66th percentile within NC. Charities of a similar size with the same main cause include Christian Life Missions ($407k), Sheboygan County Historical Society ($407k) and Sarva Dharma Service Center Inc ($407k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 46% and program service revenue 49% of the total. Other salaries and wages came to $62k. At year end it held assets of $1.3m against liabilities of $1.6m, net assets of -$304k.