Storehouse West Inc

Analysis

Storehouse West Inc is a registered charity in United States, based in Rio Rancho, NM. It received its IRS tax-exemption ruling in August 1992, 34 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 March 2023, Storehouse West Inc reported income of $560k and spending of $560k, spending 100% of its income. Across the 5 years on record, from March 2019 to March 2023, income grew from $311k to $560k (+80%), an average of +16% a year. The sharpest change came in the year to March 2023, when income rose by 101%. Over the whole period it spent 83% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Storehouse West Inc sits at the 67th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 71st percentile within NM. Charities of a similar size with the same main cause include Ahava Tree Ministries Inc ($560k), Hillsdale County Task Force on Family Violence Domestic Harmony ($560k) and Life Resources of Northern Michigan Inc ($560k).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 89% and program service revenue 10.0% of the total. Compensation of current officers, directors and key employees was $32k (5.7% of expenses). Other salaries and wages came to $18k. At year end it held assets of $701k against liabilities of $66k, net assets of $635k. It reported 3 employees.