Overview
What is The Storehouse Inc?
The Storehouse Inc, situated in Covington, Washington (98042), functions as a nonprofit organization dedicated to assisting families in need within its local community. Through the collection of donations and strategic use of monetary contributions, The Storehouse procures essential food and other necessities. By combining these resources with the donations, The Storehouse is able to distribute them to individuals and families who are experiencing hardship, thereby addressing their basic needs. With a workforce of five dedicated individuals, The Storehouse operates as a food bank, aiming to alleviate hunger and promote community well-being.
Official website here: www.covingtonstorehouse.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
The Storehouse Inc has received a Two-Star out of Four Star rating from Charity Navigator, indicating it needs improvement in various accountability and financial measures. The organization has a good score for having an independent board, but struggles significantly in financial reporting and transparency, highlighted by a zero score for financial statements and several governance policies.
Strengths include a high score for the material diversion of assets, indicating that the organization is effectively using its resources for its intended purpose. The program expense ratio is also strong, suggesting that a large portion of funds is directed toward programs rather than administrative costs or fundraising.
However, notable weaknesses are present, particularly in fundraising efficiency and financial accountability, which may raise concerns for potential donors. The lack of conflict of interest, whistleblower, and document retention policies could affect the organization's governance standards, warranting attention for future improvements.
This AI summary has been generated from information found on Charity Navigator.
Is The Storehouse Inc legitimate?
The Storehouse Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Storehouse Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $84,093
Professional Fundraising Fees: $0
Other Salaries and Wages: $43,652
For more financial information, click here
Official website here: www.covingtonstorehouse.org
What is the mission statement of The Storehouse Inc?
The mission of The Storehouse Inc, as a food bank, is centered around providing essential aid to families in need within the community. This is accomplished by gathering donations of food and other necessary items, supplementing these contributions with financially-sourced provisions, and then distributing these resources to those in need locally. The organization's primary goal is to alleviate food insecurity and support the well-being of families in their time of need.
Official website here: www.covingtonstorehouse.org
What is the revenue of The Storehouse Inc?
The Storehouse Inc's revenue in 2024 was $2,650,594.
Official website here: www.covingtonstorehouse.org
Who are the executives of The Storehouse Inc and what are their salaries?
The average compensation at The Storehouse Inc during 2024 was $18,249. There are 7 employees and 264 volunteers at The Storehouse Inc.
Here are 7 key members and their salaries:
- Compensation: $46,645
- Related: $0
- Other: $0
- Compensation: $37,448
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.covingtonstorehouse.org
Where can I find the form 990 for The Storehouse Inc?
The Storehouse Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.covingtonstorehouse.org
Learn more at the official website: www.covingtonstorehouse.org
Mission Statement of The Storehouse Inc
The Storehouse, a renowned nonprofit organization, is committed to alleviating food insecurity and meeting the basic needs of families in their community. At its core, The Storehouse acts as a food bank, gathering donations of food and essential supplies. The organization supplements these contributions by purchasing additional necessary items using funds generously donated by the community. Once collected, The Storehouse distributes these resources to families in need, ensuring they have access to nutritious meals and essential items for their well-being.
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Impact
July, 2024
The Storehouse Inc, located in Covington, WA, plays a crucial role in addressing food insecurity in the local community by providing essential food and supplies to families in need. Through their operations, The Storehouse collects donations, purchases necessary items, and distributes them to individuals and families facing food insecurity. This impactful work directly improves the well-being and sustenance of those in need, contributing to the overall health and stability of the community.
This information is meant to be a general summary of The Storehouse Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $875
- Gross Receipts: $2,650,594
Assets and Liabilities:
- Total Assets: $237,738
- Total Liabilities: $3,253
- Net Assets: $234,485
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Organization Details
Founding Year
2001
Principal Officer
Willard Nielsen
Website
www.covingtonstorehouse.orgNTEE Category
Code: K31 - Food
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