Charity Storage Inc
Nonprofit profile at a glance
- EIN
- 453253579
- IRS 990 coverage
- 2011–2024
- Forms available
- Form 990 2024, Form 990-EZ 2023
- Location
- Phoenix, AZ, USA
- Phone
- 6027499370
- Rating
- 78
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Public Foundations
Reported finances
- Revenue
- $226,736
- Expenses
- $225,782
- Assets
- $202,054
- Liabilities
- $52,862
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
11 people listed
People named in this filing
- LANCE T WATKINS (FOUNDER)
- ROBERT A CHITI (CHAIR(THRU 8/24)/DIRECTOR)
- KRISTI ADAMS (CHAIR (AS OF 8/24))
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Engage for good! Raise funds for charities throughout the united states, one charity storage auction at a time.
What it reported doing in 2024
Charity storage, inc.'s mission is to utilize under utilized storage industry assets for charitable purposes. Participating self storage facilities establish "charity storage units or drop off points into which customers deposit gently used or new items. These items are placed into vacant storage units and subsequently auctioned off by the storage facilities (onsite or online), who donate the net proceeds to charitiy storage. Charity storage uses this money to make grants, primarily, to local, national, and industry affiliated charities, including but not limited to kure it cancer research, the self storage association foundation scholarship program, and other qualifying organizations selected by partner facilities. (continued on schedule o)this model enables storage facilities to leverage existing infrastructure (i.e. Vacant units) to ultimately provide funds for charity storage and the charitable organizations we support. As a result, we were able to provide $166,533 in grants to over 20 qualified charities.
Operating model
- Revenue model
- Donor-supported. 100% of the money available for current operations came from contributions and gifts.
- Distribution model
- Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.
Rating breakdown
- Financial Efficiency: 71
- Transparency & Controls: 86
- Accountability: 82
- Sustainability: 40
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 73.4%; rating input score 73
- Program expense ratio: 73.8%; rating input score 74
- Fundraising efficiency: $17.19 raised per $1 spent on fundraising; rating input score 54; 54th percentile among comparable filings
Transparency & Controls
- Consistency checks: 90.9%; rating input score 91; 13th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: 90.5%; rating input score 90; 52nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 4 of 7 controls in place; rating input score 57
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 0.4%; rating input score 40; 40th percentile among comparable filings
- Total-asset coverage ratio: 0.89; rating input score 38; 38th percentile among comparable filings
- Liabilities to assets ratio: 0.26; rating input score 17; 17th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings
Growth
- Program expense growth: 7.3% per year; rating input score 100; 62nd percentile among comparable filings
- Revenue growth: 8.2% per year; rating input score 100; 67th percentile among comparable filings
- Asset growth: 17.3% per year; rating input score 100; 81st percentile among comparable filings
Details
- Where the money goes: 73.4% of revenue deployed · 73.8% of spending went to programs
- Governance: 11 of 11 board members independent · 4 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $167K in reported program spending
- Leadership: top reported pay $0 · 11 people listed
- Consistency: 19 of 20 current checks pass · 1 finding to review
- Schedules: 5 filed schedules · includes major donors and grants
- Filing history: 8 filing years from 2011 to 2024
- Contacts: How to reach this organization
- Money network: 4 filed money-flow records
- Related organizations: 4 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Review — Accountability: Governance controls: 2 of 6 not reported.
- Review — Financial Efficiency: Fundraising efficiency scored 54/100.
- Moderate — Sustainability: Operating margin scored 40/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 38/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- High — Sustainability: Liabilities to assets ratio scored 17/100.