Overview
What is Storehouse Inc?
Storehouse Inc is a nonprofit organization with a mission to rebuild communities affected by poverty. They achieve this by providing essential resources such as food, clothing, and scholarships or grants to families in need. Their programs have reached approximately 2300 families, aiming to enhance their living conditions and foster community development.
Official website here: www.charitynavigator.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 0 out of 4 stars (13% score)
Storehouse Inc has received a Zero-Star out of Four Star rating from Charity Navigator, indicating significant concerns regarding its accountability and financial practices. The low score reflects a lack of independent board members and the absence of crucial policy documents, such as a conflict of interest policy and a whistleblower policy. While the organization has not diverted any assets, the overall financial health appears weak, with only 29.21% of expenses allocated to programs.
The majority of the board members are not independent, which raises potential governance issues. Furthermore, essential operational transparency documents, such as minutes from board meetings and the organization's tax form on its website, are missing, contributing to the low accountability score. These factors highlight the need for improved governance and financial management to build trust with donors and stakeholders.
Despite some strengths, such as listing their website on the tax form and having no material diversion of assets, the deficiencies in policies and financial ratios suggest Storehouse Inc may struggle to effectively meet its mission. Without addressing these critical issues, the organization may face challenges in securing support from the community and donors looking for transparency and accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Storehouse Inc legitimate?
Storehouse Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. 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: $31,200
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.charitynavigator.org
What is the mission statement of Storehouse Inc?
Storehouse Inc's mission is centered around serving and rebuilding communities affected by poverty. They accomplish this by providing essential resources such as food and clothing. The organization's efforts extend beyond material aid, as they have also supported educational opportunities through scholarships and grants for approximately 2300 families. In essence, Storehouse Inc exists with the goal of rejuvenating communities impacted by poverty, contributing to their overall improvement and well-being.
Official website here: www.charitynavigator.org
What is the revenue of Storehouse Inc?
Storehouse Inc's revenue in 2023 was $272,858.
Official website here: www.charitynavigator.org
Who are the executives of Storehouse Inc and what are their salaries?
The average compensation at Storehouse Inc during 2023 was $2,836. There are 11 employees at Storehouse Inc.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.charitynavigator.org
Where can I find the form 990 for Storehouse Inc?
Storehouse Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.charitynavigator.org
Learn more at the official website: www.charitynavigator.org
Mission Statement of Storehouse Inc
Storehouse Inc, a nonprofit organization, is dedicated to rebuilding communities that have been affected by poverty. Their mission is to serve these communities by providing essential resources such as food and clothing. The organization's purpose is to contribute to the restoration and revitalization of these communities, aiming to alleviate the challenges brought about by poverty. In addition to their primary services, Storehouse Inc has also extended its support to families by offering school scholarships and grants to approximately 2300 families. The organization's work is centered around the belief that every community deserves the opportunity to overcome poverty and thrive.
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Impact
October, 2024
Storehouse Inc is dedicated to rebuilding communities affected by poverty by providing essential resources such as food, clothing, and various support services. This organization's impactful programs have reached around 2,300 families, offering vital assistance that helps improve their quality of life. By facilitating school scholarships and grants, Storehouse Inc empowers individuals through education, aiming to break the cycle of poverty and foster sustainable growth in the Beckley, WV area. Their mission underscores a commitment to serve, uplift, and transform communities by addressing immediate needs while also promoting long-term resilience.
This information is meant to be a general summary of 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 2023.
- Gross Receipts: $272,858
Assets and Liabilities:
- Total Assets: $56,300
- Total Liabilities: $0
- Net Assets: $56,300
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Organization Details
Founding Year
2020
Principal Officer
Adam Smith
Website
www.charitynavigator.orgNTEE Category
Code: P20 - Human services
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