Good Friend Ministries

Nonprofit profile at a glance

EIN
863225733
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Traverse City, MI, USA
Phone
9897939830
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Support N.E.C.
Affiliation
Religious (unspecified)

Reported finances

Revenue
$70,213
Expenses
$196,573
Assets
$76,877
Liabilities
$2,690

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

5 people listed

People named in this filing

  • Richard Wolfram (Consultant)
  • Janet Johnson (Secretary)
  • Daniel Galbraith (Chair)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of Good Friend Ministries is to provide pastors with a retreat center and counseling services.

What it reported doing in 2024

The main purpose is to provide pastors with a retreat center and counseling services.

Operating model

Revenue model
Donor-supported. 98% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 92
  • Accountability: 70
  • Sustainability: 21
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 90.7%; rating input score 91
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -180%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 0.39; rating input score 15; 15th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 23; 23rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 22% per year; rating input score 100; 86th percentile among comparable filings
  • Revenue growth: -48.4% per year; rating input score 0; 8th percentile among comparable filings
  • Asset growth: -40.1% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 90.7% of spending went to programs
  • Governance: 5 of 5 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $178K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Sustainability: Operating margin scored 14/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 15/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 23/100.