Storehouse

Analysis

Storehouse is a registered charity in United States, based in Colorado SPGS, CO. It received its IRS tax-exemption ruling in March 2020, 6 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 2022, Storehouse reported income of $67k and spending of $72k, spending 108% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income fell from $88k to $67k (-24%), an average of -8.7% a year. The sharpest change came in the year to December 2022, when income rose by 73%. Over the whole period it spent 105% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Storehouse sits at the 23rd percentile: it is larger than about 23% of them. Against every charity in United States with reported income it ranks in the 26th percentile, and in the 23rd percentile within CO. Charities of a similar size with the same main cause include Considerothers ($67k), Korean American Outreach Group ($67k) and Holy Spirit Conference ($67k).

On its Form 990-EZ for the period ending December 2022, revenue came from program service revenue 100% of the total. At year end it held assets of $2,500 against liabilities of $1,770, net assets of $730.