My Fathers Storehouse
- Assets
- $769.4k
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Hendersonville, NC
- Founding
- 09/2004
- Data as of
- 12/2023
- EIN
- 01-0787966
Organization Overview
My Fathers Storehouse is located in Hendersonville, NC. The organization was established in 2004. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. My Fathers Storehouse is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, My Fathers Storehouse generated $1.6m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 30.9% each year . All expenses for the organization totaled $1.2m during the year ending 12/2023. While expenses have increased by 26.0% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FOOD AND OTHER BASIC NECESSITIES FOR THOSE IN NEED IN HENDERSON COUNTY NORTH CAROLINA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BLESSING IN BOXES (ANNUAL CHRISTMAS PROGRAM) - PROVIDES GIFTS TO CHILDREN OF FAMILIES THAT QUALIFY.
PROVIDED FOOD, HYGIENE ITEMS AND COATS/BLANKETS TO INDIVIDUALS AND FAMILIES THAT NEEDED ASSISTANCE.
CLIENT SERVICES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lynn H Staggs Executive Dir. | OfficerTrustee | 40 | $40,170 |
Steve Morrison Chairman | OfficerTrustee | 2 | $0 |
Karen Freeman Treasurer | OfficerTrustee | 1 | $0 |
Linda Thomas Asst. Corp. Sec | Trustee | 1 | $0 |
Patrick Harper Director | Trustee | 1 | $0 |
Jon Renegar Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $100,932 |
| Related organizations | $0 |
| Government grants | $10,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,463,079 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,574,011 |
| Total Program Service Revenue | $0 |
| Investment income | $707 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$7,730 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,566,988 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $40,170 |
| Compensation of current officers, directors, key employees. | $1,800 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $24,563 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,952 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,110 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,705 |
| Office expenses | $16,222 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $44,105 |
| Travel | $147 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,015 |
| Insurance | $2,605 |
| All other expenses | $15,352 |
| Total functional expenses | $1,169,858 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $45,204 |
| Savings and temporary cash investments | $214,373 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $13,106 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $496,708 |
| Total assets | $769,391 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | -$905 |
| Total liabilities | -$905 |
| Net assets without donor restrictions | $775,939 |
| Net assets with donor restrictions | -$5,643 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $769,391 |