Storehouse Of Community Resources
- Assets
- $6.9m
- Revenue
- $13.0m
- Investments
- $0.0
- Employees
- 8
- Location
- Grand Rapids, MI
- Founding
- 11/2017
- Data as of
- 12/2023
- EIN
- 81-4354698
Organization Overview
Storehouse Of Community Resources is located in Grand Rapids, MI. 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, Storehouse Of Community Resources employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Storehouse Of Community Resources 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, Storehouse Of Community Resources generated $13.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 25.9% each year . All expenses for the organization totaled $13.0m during the year ending 12/2023. While expenses have increased by 31.7% per year over the past 6 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
REDUCE POVERTY FOR AT RISK FAMILIES BY REDISTRIBUTING DONATED HOUSEHOLD AND OFFICE GOODS TO NON-PROFIT ORGANIZATIONS AND SCHOOLS LOCATED IN LOW INCOME AREAS WITH THE SAME FOCUS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONTINUED TO GROW THE THE STOREHOUSE WAREHOUSE, AND TEACHER RESOURCE STORE AND OBTAINED $12.3 MILLION IN DONATED PRODUCT AND COMMITTED / DISTRIBUTED $10 MILLION TO 300 NON-PROFIT PARTNERS AND 215 POVERTY BASED EDUCATION BUILDINGS WITH ABOUT 3000 TEACHERS WITH IMPACT TO NEARLY 00,000 ADULTS AND CHILDREN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jessica Johns Executive Director | Officer | 40 | $84,109 |
Beth Dornan Secretary | OfficerTrustee | 3 | $0 |
Kelly Hollinsworth Director | Trustee | 3 | $0 |
Leonard Iakiri Director | Trustee | 3 | $0 |
Heidi Katula Director | Trustee | 3 | $0 |
Daniel Pellathy President | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $12,725,595 |
| Noncash contributions included in lines 1a–1f | $12,330,189 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,725,595 |
| Total Program Service Revenue | $228,443 |
| Investment income | $4,644 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,958,682 |
| 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. | $179,997 |
| Compensation of current officers, directors, key employees. | $179,997 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $97,191 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $22,474 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $13,872 |
| Advertising and promotion | $31,023 |
| Office expenses | $26,878 |
| Information technology | $25,871 |
| Royalties | $0 |
| Occupancy | $109,252 |
| Travel | $4,844 |
| 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 | $0 |
| Insurance | $4,980 |
| All other expenses | $12,330,189 |
| Total functional expenses | $12,956,296 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $83,356 |
| Savings and temporary cash investments | $291,706 |
| 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 | $6,530,567 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,905,629 |
| Accounts payable and accrued expenses | $4,766 |
| Grants payable | $167,500 |
| 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 | $172,266 |
| Net assets without donor restrictions | $6,733,363 |
| 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 | $6,905,629 |