My Fathers Storehouse

Analysis

My Fathers Storehouse is a registered charity in United States, based in Hendersonvlle, NC. It received its IRS tax-exemption ruling in September 2004, 22 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, My Fathers Storehouse reported income of $1.6m and spending of $1.2m, leaving 25% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income grew from $762k to $1.6m (+106%), an average of +27% a year. The sharpest change came in the year to December 2023, when income rose by 33%. Over the whole period it spent 84% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, My Fathers Storehouse sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 85th percentile within NC. Charities of a similar size with the same main cause include KW Next Gen ($1.6m), Senior Coastsiders Inc ($1.6m) and Pike County Agricultural Society ($1.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $40k (3.4% of expenses). Other salaries and wages came to $25k. At year end it held assets of $769k against liabilities of -$905, net assets of $770k.