The Store Inc

What it reported doing in 2024

The store operates as a year-round free grocery store allowing people to shop for their basic needs. There is no charge to those referred or to the people and agencies that send them. They may shop for food to supplement their income during times of crisis and as they work toward self-sufficiency. During 2024 and 2023, the store served 965 and 416 households, respectively, by providing bi-weekly shopping where customers may shop for their own grocery items. The store served an additional 1,509 households in 2024 with a single emergency shopping trip program. Shoppers can expect to find items such as: fresh produce, milk, meats, eggs, and dietary friendly options. The store also has a children's area where children can play and read while caregivers shop.a philosophy of community empowerment means we aim to solve hunger issues in our community by developing programs to meet the needs of the community, including partnering with other organizations on issues of food security. The store partners with the belmont family wellbeing program which offers families services, programming, and support to help reduce stress. Services are offered by belmont university faculty, staff, students, and other qualified practitioners at the belmont ministry center which is located directly next to the store.

Financial Efficiency

• Mission deployment rate: 41.8%; rating input score 42
• Program expense ratio: 79.3%; rating input score 79
• Fundraising efficiency: $18.22 raised per $1 spent on fundraising; rating input score 56; 56th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 1 of 6 controls in place; rating input score 17
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 94.4%; rating input score 94; 25th percentile among comparable filings
• Governance controls: 7 of 9 controls in place; rating input score 78
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Fail
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 52.8%; rating input score 93; 93rd percentile among comparable filings
• Total-asset coverage ratio: 3.97; rating input score 80; 80th percentile among comparable filings
• Liabilities to assets ratio: 0.01; rating input score 88; 88th percentile among comparable filings
• Officer compensation ratio: 9.1%; rating input score 33; 33rd percentile among comparable filings

Growth

• Program expense growth: 39.8% per year; rating input score 100; 95th percentile among comparable filings
• Revenue growth: 15.4% per year; rating input score 100; 82nd percentile among comparable filings
• Asset growth: 22.2% per year; rating input score 100; 87th percentile among comparable filings