The Storehouse

Analysis

The Storehouse is a registered charity in United States, based in Covington, WA. It received its IRS tax-exemption ruling in January 2004, 22 years ago. Its declared purposes cover food, agriculture and nutrition, 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, The Storehouse reported income of $2.5m and spending of $2.4m, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.4m to $2.5m (+85%), an average of +17% a year. The sharpest change came in the year to December 2020, when income rose by 115%. Over the whole period it spent 98% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, The Storehouse sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within WA. Charities of a similar size with the same main cause include Women and Families Center ($2.5m), Family Service Agency of Waukesha County Inc ($2.5m) and Harrison Childrens Center Inc ($2.5m).

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 $74k (3.1% of expenses). Other salaries and wages came to $34k. At year end it held assets of $341k against liabilities of $2,901, net assets of $338k. It reported 5 employees.