Storehouse Daily Bread Ministry

Analysis

Storehouse Daily Bread Ministry is a registered charity in United States, based in Lenoir, NC. It received its IRS tax-exemption ruling in November 2013, 13 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, Storehouse Daily Bread Ministry reported income of $216k and spending of $200k, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $181k to $216k (+19%), an average of +4.5% a year. The sharpest change came in the year to December 2021, when income rose by 60%. Over the whole period it spent 87% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Storehouse Daily Bread Ministry sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 53rd percentile within NC. Charities of a similar size with the same main cause include Kids Club Child Care Center Inc ($216k), Allegany Regional Development Corp ($216k) and Because Black Is Still Beautiful ($216k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 9.0% of the total. Compensation of current officers, directors and key employees was $31k (16% of expenses). Other salaries and wages came to $11k. At year end it held assets of $464k against liabilities of $221k, net assets of $242k. It reported 3 employees.