Storehouse of Hope

Nonprofit profile at a glance

EIN
300600126
IRS 990-EZ coverage
2016–2022
Forms available
Form 990-EZ 2022, Form 990-N 2015
Location
Detroit, MI, USA
Phone
2485656572
Rating
97
Verdict
STRONG
Rating confidence
Moderate
Sector
Food Banks, Pantries

Reported finances

Revenue
$20,434
Expenses
$13,276
Assets
$116,217
Liabilities
$0

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

Leadership & pay

5 people listed

People named in this filing

  • Reverend Joan Ross (Board Chair)
  • Norma Heath (Board Vice Chair)
  • Christian Linear (Treassurer)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

To provide emergency food through a mobile food pantry delivery and wrap around services to residents of 48202 and 48211 otherwise known as the North End of Detroit. And to operate as a program a Community Land Trust which provides permanently affordable housing.

What it reported doing in 2022

Throughout the year we accomplished the delivery of 18 Mobile Pantries occurring twice a month from March to November in the 48202 and 48211 zip codes. Our pantries provided food and some personal care products to 3,000 individuals monthly. We continued to build on the work of the Community Land Trust by stabilizing the families in 10 of the community land trust properties. The families on the CLT are with incomes of 30 % and less of the AMI for Wayne County.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filed totals do not add up and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 100
  • Transparency & Controls: 100
  • Sustainability: 81
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: 35%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 8.75; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 9.1% per year; rating input score 100; 72nd percentile among comparable filings
  • Revenue growth: -5.6% per year; rating input score 0; 37th percentile among comparable filings
  • Asset growth: 1.5% per year; rating input score 100; 45th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 2 filed program accomplishments · $24K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 8 of 9 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Filing history: 7 filing years from 2016 to 2022
  • Contacts: How to reach this organization
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Moderate — Transparency & Controls: Part III program expenses within total did not reconcile in the filed values.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.