Joseph Storehouse Ministries Inc

Nonprofit profile at a glance

EIN
205013990
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Woodbridge, VA, USA
Phone
7036703532
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Protestant
Affiliation
Christianity

Reported finances

Revenue
$920,700
Expenses
$1,034,654
Assets
$810,578
Liabilities
$345,169

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

4 people listed

People named in this filing

  • CHARLES BENNETT (DIRECTOR)
  • SONOELL B CLARK (DIRECTOR)
  • DEBORAH L PATTEN (CHIEF OPERAT)

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

Christian school & academy/educational services. Serve as an extension of the family & home, partnering with the family and church community to present an optimal environment for nurturing & learning. Presentation of educational materials that build reading & math skills to income challenged demographics. Send missionaries abroad and support other ministries that feed and cloth children while educating them in christian principles.

What it reported doing in 2024

A chritian education program was implemented to over 70 children ages 3 weeks to 4 years. The abeka along with the high reach programs aide the teachers offering language development to ages 8 months to 4 years of age. The development evaluation guideline continued for ages 16 months and older to help identify areas of academic and social strenghts and weaknesses, then to give individual attention to targeted areas. The year 2022, all school functions were resumed in full. We continued to utilize grants to upgrade facilities to improve academic access.

Operating model

Revenue model
Other-operating. 99% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 90
  • Accountability: 20
  • Sustainability: 29
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97.2%; rating input score 97
  • Program expense ratio: 86.5%; rating input score 87
  • Fundraising efficiency: $3.62 raised per $1 spent on fundraising; rating input score 11; 11th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 25%; rating input score 25; 10th percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: -12.4%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 0.78; rating input score 35; 35th percentile among comparable filings
  • Liabilities to assets ratio: 0.43; rating input score 18; 18th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: -5.8% per year; rating input score 0; 7th percentile among comparable filings
  • Revenue growth: 0.3% per year; rating input score 100; 16th percentile among comparable filings
  • Asset growth: 18.4% per year; rating input score 100; 79th percentile among comparable filings

Details

  • Where the money goes: 97.2% of revenue deployed · 86.5% of spending went to programs
  • Governance: 1 of 4 board members independent · 1 of 7 filing controls reported
  • Programs: 4 filed program accomplishments · $895K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • High — Accountability: Independent voting board scored 25/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 11/100.
  • High — Sustainability: Operating margin scored 14/100.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 35/100.
  • High — Sustainability: Liabilities to assets ratio scored 18/100.