Joseph Storehouse Ministries Inc
- Assets
- $1.0m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 63
- Location
- Woodbridge, VA
- Founding
- 04/1996
- Data as of
- 12/2022
- EIN
- 20-5013990
Organization Overview
Joseph Storehouse Ministries Inc is located in Woodbridge, VA. The organization was established in 1996. According to its NTEE Classification (X21) the organization is classified as: Protestant, under the broad grouping of Religion-Related and related organizations. As of 12/2022, Joseph Storehouse Ministries Inc employed 63 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Joseph Storehouse Ministries Inc 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 12/2022, Joseph Storehouse Ministries Inc generated $2.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $2.1m during the year ending 12/2022. While expenses have increased by 0.3% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
A CHRITIAN EDUCATION PROGRAM WAS IMPLEMENTED TO OVER 100 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.
DEPRECIATION.
WE TRANSFERED THE ALEXANDRIA LOCATION TO SAINT YARED ACADEMY (A NOT FOR PROFIT ORGANIZATION) IN NOVEMBER 2022 AND HELPED THEM GET ESTABLISHED IN THAT LOCATION.
WE UPGRADED THE BUILDING FOR PRECIOUS LAMBS WITH A NEW OUTDOOR PLAYGROUND, REVITALIZED ENTIRE BUILDING, REMODDELED THE NURSERY, INSTALLED A PRESCHOOL LIBRARY, UPGRADED ALL A/C-HEATING UNITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deborah L Patten Chief Operat | OfficerTrustee | 20 | $58,400 |
Charles Bennett Director | Trustee | $0 | |
Sonoell B Clark Director | Trustee | $0 | |
Robert Macarthur Patten Board Chairm | OfficerTrustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $510,571 |
| All other contributions, gifts, grants, and similar amounts not included above | $254,094 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $764,665 |
| Total Program Service Revenue | $1,810,905 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$8,317 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,567,253 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $589,430 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,397 |
| Payroll taxes | $78,473 |
| Fees for services: Management | $4,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $50,311 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,748 |
| Advertising and promotion | $24,644 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $771,468 |
| Travel | $28,485 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,712 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,654 |
| Insurance | $11,068 |
| All other expenses | $4,896 |
| Total functional expenses | $2,065,015 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $727,307 |
| Savings and temporary cash investments | $0 |
| 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 | $40,026 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $125,941 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $140,980 |
| Total assets | $1,034,254 |
| 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 | $366,451 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $366,451 |
| Net assets without donor restrictions | $667,803 |
| Net assets with donor restrictions | $0 |
| 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 | $1,034,254 |