Overview
What is Storehouse Inc?
Storehouse Inc, located in Morris, Minnesota, serves as a nonprofit organization dedicated to addressing food insecurity. They procure food in large quantities and repackage it for distribution to food banks and other organizations, which subsequently provide these resources to individuals in need. By performing this vital function, Storehouse Inc plays a significant role in ensuring that people who are food insecure have access to sufficient nourishment.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73% (Two-Star out of Four Star rating)
Storehouse Inc has received a score of 73%, reflecting a focus on accountability and finance. This rating is significant as it indicates the organization's transparency and financial health, which are critical factors for potential donors. The overall score comes from a single beacon score that evaluates various aspects of the nonprofit's operations.
The organization demonstrates strong financial management, with an impressive program expense ratio of 92.28%, indicating that the majority of its funds are directed towards its programs. Additionally, Storehouse Inc has a fully independent board, with 100% independent members, which enhances its governance and decision-making processes. The charity also maintains fiscal responsibility, evidenced by a 0.00% liabilities to assets ratio, suggesting it has no outstanding debts.
However, despite its strengths in financial metrics and governance, the two-star rating reflects some room for improvement in other areas not covered by the current evaluation. While the charity exhibits a solid foundation, potential donors may want to consider these factors when deciding to contribute to its mission.
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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Storehouse Inc?
Storehouse Inc's mission involves procuring food in bulk and then repackaging it for distribution to food banks and other organizations. These organizations, in turn, distribute the food to individuals in need. Essentially, Storehouse Inc's role is to bridge the gap between food surplus and those who require it, ensuring that no edible food goes to waste while simultaneously addressing food insecurity. The organization's activities contribute to the overall goal of alleviating hunger and promoting food stability.
Who is the CEO of Storehouse Inc?
Davis Wulf is the Board Member of Storehouse Inc.
What is the revenue of Storehouse Inc?
Storehouse Inc's revenue in 2022 was $136,805.
Who are the executives of Storehouse Inc and what are their salaries?
There 5 volunteers at Storehouse Inc.
Here are 5 key members and their salaries:
- 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
Where can I find the form 990 for Storehouse Inc?
Storehouse Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Storehouse Inc
Storehouse Inc, as a nonprofit organization, is dedicated to acquiring food in bulk form and repackaging it for distribution to food shelves and other organizations. This endeavor allows these organizations to further distribute the food to individuals in need. By taking on this mission, Storehouse Inc plays a vital role in ensuring that those who are food insecure have access to nutritious meals. The organization's work is instrumental in bridging the gap between food surplus and food scarcity, thereby contributing to the overall well-being of the community.
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Impact
October, 2024
Storehouse Inc significantly impacts the community by acquiring food in bulk and repackaging it for distribution to local food shelves and other organizations. This streamlined process ensures that nutritious food is efficiently moved from suppliers to those in need, addressing food insecurity in Morris, MN, and surrounding areas. By focusing on bulk acquisition and repackaging, Storehouse Inc maximizes resource utilization and minimizes food waste, thereby enhancing the overall effectiveness of food distribution networks. Their operations not only provide essential sustenance but also foster partnerships with various organizations dedicated to supporting individuals facing hardship, ultimately strengthening community resilience and well-being.
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 2022.
- Gross Receipts: $136,805
Assets and Liabilities:
- Total Assets: $165,058
- Total Liabilities: $0
- Net Assets: $165,058
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Organization Details
Founding Year
2021
Phone
(320) 491-6765Principal Officer
Davis Wulf
Main Address
48128 32TH ST, MORRIS, MN, 56267
NTEE Category
Code: K12 - Food
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