Good Work Network EIN 72-1499442

Good Work Network FY2020 filing

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Good Work Network is a nonprofit organization based in New Orleans, LA. For fiscal year 2020 it reported $962K in revenue, $797K in expenses, and $1.5M in net assets.Pt I

Type
Unknown exempt organization · Nonprofit
Location
New Orleans, LA
Website
www.goodworknetwork.org
Filings
2 on file (2020–2020)
Revenue
$962KFY2020
Expenses
$797K
Net assets
$1.5M
People
12
Filings
2
Updates
0
More identity details & actions ⌄
EIN  72-1499442 Unknown exempt organization New Orleans, LA
Form 990 (PDF)
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2021) →
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Size
$100K–1M
What they do
a nonprofit organization
Leadership
Hermione Malone · Executive Director · $135K
Money in and out
$962K revenue, $797K expenses
Bottom line
+17% surplus margin
Reported financial activity · FY2020
Total revenue
$962K
Pt VIII · Ln 12
Total expenses
$797K
Pt IX · Ln 25
Net assets
$1.5M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $164K
Where spending went · Part IX cols B–D
Program services $0.47 Management & general $0.53
Surplus margin
+17%
revenue over expenses, this year
Program spending
47%
of expenses reach programs

Summary of the Filing

Part I · fiscal year 2020 · Form 990
Revenue
$962K
FY2020
Expenses
$797K
FY2020
Total assets
$1.8M
FY2020
Total liabilities
$293K
FY2020
Total revenue
$962K
Pt VIII · Ln 12
Total expenses
$797K
Pt IX · Ln 25
Net assets
$1.5M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$164K
Total assetsPt X · Ln 16$1.8M
Program-expense ratioPt IX · col B47%
Voting members of governing bodyPt I · Ln 311
Independent voting membersPt I · Ln 411
Mission & Programs · Part III

Where the work happens

1 program service account for $371K of program spending, described in the organization's own filed words · FY2020.
01

Education and Entrepreneurship Support Services

Good work network is a provider of business development services for small community-based businesses that support families and sustain communities. The network works to expand the local economy by building minority and women owned businesses.

$371Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CGood Work Network
EINHdr · item D72-1499442
Principal addressHdr · item CNew Orleans, LA
WebsiteHdr · item Jwww.goodworknetwork.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MLA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFNonprofit
Ruling yearIRS BMFpending

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a11
Independent voting membersPt VI · Ln 1b11
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Director
$135,179Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2021FY2020
Hermione Malone$147,012$135,179

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Contributions & grants$887K · 92%
Other revenue$56K · 6%
Program service revenue$18K · 2%
Contributions & grants92%$887K
Other revenue6%$56K
Program service revenue2%$18K
Investment income$1K
— government grantsLn 1e$78K
Total revenueLn 12$962K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.47 Management & general $0.53
Program services47%$371K
Management & general53%$426K
Total functional expensesLn 25$797K

Balance Sheet

Part X · end of year
CashLn 1$434K
Total assetsLn 16$1.8M
Total liabilitiesLn 26$293K
Total net assetsLn 32$1.5M
Months of cash on handcomputed6.5

Financial Metrics

Form 990 · FY2020 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $434K · Operating expenses/yr $797K
6.5 months
Where the money goes
Program services
Program services $371K · Total expenses $797K
47%
Management & General
Management & general $426K · Total expenses $797K
53%
Fundraising
Fundraising $0 · Total expenses $797K
0%
Cost to raise $1
Fundraising expense $0 · Solicited contributions $809K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $887K · Total revenue $962K
92%
Government reliance
Government grants $78K · Total revenue $962K
8%
Earned-income share
Program service revenue $18K · Total revenue $962K
2%
Investment reliance
Investment income $1K · Total revenue $962K
+0.1%
Program self-sufficiency
Program service revenue $18K · Total expenses $797K
2%
Growth & trend
Revenue growth (YoY)
This year $962K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $1.5M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $962K · Expenses $797K
+17%
Liabilities-to-Assets
Total liabilities — · Total assets $1.8M
Net-asset ratio
Net assets $1.5M · Total assets $1.8M
83%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.8M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Hermione Malone · Reported title EXECUTIVE DIRECTOR · Highest reported compensation $135K · Total expenses $797K
17%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $420K · Total expenses $797K
53%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 47%
Overhead ratio 53%
Fundraising cost ratio 0%
Accounting fee ratio 9%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 3 funders$100K
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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2021 (Latest)$572K revenue · ⤓ 990 PDF
FY2020$962K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2020IRS
Classification, formation year, addressIRS Business Master File
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