Storehouse Inc

Analysis

Storehouse Inc is a registered charity in United States, based in Morris, MN. It received its IRS tax-exemption ruling in March 2022, 4 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Storehouse Inc reported income of $61k and spending of $39k, leaving 36% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income fell from $160k to $61k (-62%), an average of -38% a year. The sharpest change came in the year to December 2023, when income dropped by 55%. Over the whole period it spent 48% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Storehouse Inc sits at the 21st percentile: it is larger than about 21% of them. Against every charity in United States with reported income it ranks in the 24th percentile, and in the 20th percentile within MN. Charities of a similar size with the same main cause include Dignity Institute ($61k), National Charity League Inc Cactus Wren Chapter ($61k) and 100girlsleading ($61k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $187k against liabilities of $0, net assets of $187k.