The Store Inc
- Assets
- $5.6m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 8
- Location
- Nashville, TN
- Founding
- 01/2017
- Data as of
- 12/2023
- EIN
- 81-4247568
Organization Overview
The Store Inc, operating under the name The Store, is located in Nashville, TN. The organization was established in 2017. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 12/2023, Store employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Store 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, Store generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.0% each year . All expenses for the organization totaled $1.2m during the year ending 12/2023. 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
AIM TO SOLVE HUNGER ISSUES IN THE COMMUNITY BY OPERATING A YEAR-ROUND FREE GROCERY STORE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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 2023, THE STORE SERVED 416 HOUSEHOLDS BY PROVIDING BI-WEEKLY SHOPPING WHERE CUSTOMERS MAY SHOP FOR THEIR OWN GROCERY ITEMS. SHOPPERS CAN EXPECT TO FIND ITEMS SUCH AS: FRESH PRODUCE, MILK, MEATS, EGGS, AND DIETARY FRIENDLY OPTIONS. DURING 2023, THE STORE ALSO PROVIDED A TOY STORE FOR FAMILIES TO SHOP FOR THE HOLIDAY SEASON. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brad Paisley Founder | Trustee | 2 | $0 |
Kimberly Williams-Paisley Founder | Trustee | 2 | $0 |
John Schario President | OfficerTrustee | 20 | $0 |
Jaynee Day Treasurer | OfficerTrustee | 5 | $0 |
Debbie Wilkins Secretary | OfficerTrustee | 5 | $0 |
Elaine Bryan Director | Trustee | 10 | $30,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $67,562 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,036,924 |
| Noncash contributions included in lines 1a–1f | $213,629 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,104,486 |
| Total Program Service Revenue | $0 |
| Investment income | $127,197 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$30,040 |
| Net Income from Fundraising Events | $16,069 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,217,712 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $560,015 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $108,588 |
| Compensation of current officers, directors, key employees. | $16,288 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $201,986 |
| Pension plan accruals and contributions | $4,420 |
| Other employee benefits | $23,385 |
| Payroll taxes | $26,879 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,975 |
| Fees for services: Accounting | $41,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,628 |
| Advertising and promotion | $4,942 |
| Office expenses | $57,368 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $41,160 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,592 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $52,872 |
| Insurance | $12,207 |
| All other expenses | $0 |
| Total functional expenses | $1,200,782 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $402,343 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $51,398 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $46,431 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,520,927 |
| Investments—publicly traded securities | $3,627,374 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,648,473 |
| Accounts payable and accrued expenses | $37,907 |
| 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 | $0 |
| Total liabilities | $37,907 |
| Net assets without donor restrictions | $4,068,469 |
| Net assets with donor restrictions | $1,542,097 |
| 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 | $5,648,473 |