Storehouse Project Inc

Analysis

Storehouse Project Inc is a registered charity in United States, based in Milford, CT. It received its IRS tax-exemption ruling in October 2014, 12 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 Project Inc reported income of $578k and spending of $547k, spending 95% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $228k to $578k (+153%), an average of +36% a year. The sharpest change came in the year to June 2022, when income rose by 201%. Over the whole period it spent 94% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Storehouse Project Inc 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 72nd percentile, and in the 70th percentile within CT. Charities of a similar size with the same main cause include Arzenu Inc ($578k), Feeding Families Ministry Inc ($578k) and United Islamic Center of Arizona ($578k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $191k. At year end it held assets of $98k against liabilities of $28k, net assets of $71k. It reported 3 employees.