Storehouse New Mexico

Analysis

Storehouse New Mexico is a registered charity in United States, based in Albuquerque, NM. It received its IRS tax-exemption ruling in November 2014, 12 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 June 2023, Storehouse New Mexico reported income of $3.4m and spending of $3.3m, spending 97% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.8m to $3.4m (+22%), an average of +5.0% a year. The sharpest change came in the year to June 2020, when income rose by 20%. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Storehouse New Mexico sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within NM. Charities of a similar size with the same main cause include Hispanic Center of Western Michigan Inc ($3.4m), Adults & Childrens Alliance Inc ($3.4m) and Affordable Residences in Chesterfield II ($3.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% and program service revenue 2.0% of the total. At year end it held assets of $2.3m against liabilities of $504k, net assets of $1.7m.