Joseph Storehouse Ministries Inc

Analysis

Joseph Storehouse Ministries Inc is a registered charity in United States, based in Woodbridge, VA. It received its IRS tax-exemption ruling in April 1996, 30 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Joseph Storehouse Ministries Inc reported income of $1.6m and spending of $1.5m, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.0m to $1.6m (-20%), an average of -5.4% a year. The sharpest change came in the year to December 2022, when income rose by 52%. Over the whole period it spent 93% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Joseph Storehouse Ministries Inc sits at the 95th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 85th percentile within VA. Charities of a similar size with the same main cause include Revival Presbyterian Church of Cape Cod ($1.6m), Victory Rivival Crusades Inc ($1.6m) and Fa Chan Temple ($1.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 6.9% and program service revenue 54% of the total. Other salaries and wages came to $560k. At year end it held assets of $935k against liabilities of $345k, net assets of $590k. It reported 37 employees.