Storehouse Management

Nonprofit profile at a glance

EIN
462816510
IRS 990 coverage
2017–2022
Forms available
Form 990 2022, Form 990-EZ 2015
Location
Raleigh, NC, USA
Phone
9192635746
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Private Grantmaking Foundations
Affiliation
Christianity

Official website

Reported finances

Revenue
$219,419
Expenses
$95,158
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

4 people listed

Highest reported compensation

  • DANIEL VOTH (CFO): $44,700 total reported compensation
  • PHILIP BRUCE (FINANCIAL CO): $38,371 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To glorify god by providing financial, professional and personal support to organizations that advance the kingdom of christ.

What it reported doing in 2022

Administration of charitable contributions globally.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 52
  • Transparency & Controls: 92
  • Accountability: 55
  • Sustainability: 45
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 34.2%; rating input score 34
  • Program expense ratio: 78.8%; rating input score 79
  • Fundraising efficiency: $25.43 raised per $1 spent on fundraising; rating input score 63; 63rd 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 50%; rating input score 50; 16th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 56.6%; rating input score 94; 94th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 87.3%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: -30.8% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: 7.4% per year; rating input score 100; 66th percentile among comparable filings
  • Asset growth: -41.4% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 34.2% of revenue deployed · 78.8% of spending went to programs
  • Governance: 2 of 4 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $75K in reported program spending
  • Leadership: top reported pay $45K · 4 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 6 filing years from 2017 to 2022
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 34/100.
  • Review — Accountability: Independent voting board scored 50/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.