Storehouse Ministries Outreach Inc

Analysis

Storehouse Ministries Outreach Inc is a registered charity in United States, based in Forney, TX. It received its IRS tax-exemption ruling in November 2019, 7 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 December 2023, Storehouse Ministries Outreach Inc reported income of $670k and spending of $739k, spending 110% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income grew from $411k to $670k (+63%), an average of +10% a year. The sharpest change came in the year to December 2021, when income rose by 79%. Over the whole period it spent 96% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Storehouse Ministries Outreach Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 78th percentile within TX. Charities of a similar size with the same main cause include Admirato Inc ($669k), Restoration Center Chicago ($670k) and John Jay Institute for Faith Society and Law Inc ($669k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $129k (17% of expenses). Other salaries and wages came to $303k. At year end it held assets of $170k against liabilities of $7,928, net assets of $162k. It reported 33 employees.