Joseph Storehouse Ministries Inc

Joseph Storehouse Ministries Inc shows fluctuating revenue with no reported officer compensation and growing assets.

EIN: 205013990 · Woodbridge, VA · NTEE: X21 · Updated: 2026-03-28

$921KRevenue

$811KAssets

85/100Mission Score (Excellent)

X21

About Joseph Storehouse Ministries Inc

Joseph Storehouse Ministries Inc (EIN: 205013990) is a nonprofit organization based in Woodbridge, VA, classified under NTEE code X21. The organization reported total revenue of $921K and total assets of $811K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Joseph Storehouse Ministries Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Joseph Storehouse Ministries Inc demonstrates fluctuating financial health over the past decade, with revenues peaking at $2,567,253 in 2022 and then decreasing to $1,636,741 in 2023. The organization consistently spends a significant portion of its revenue on programs, as indicated by the close proximity of expenses to revenue in most years (e.g., $1,524,174 expenses against $1,636,741 revenue in 2023). While specific breakdowns for program, administrative, and fundraising expenses are not provided in the summary data, the consistent lack of reported officer compensation suggests a commitment to minimizing overhead in that area. The organization's assets have shown growth, from $112,373 in 2014 to $935,161 in 2023, indicating some financial stability and accumulation of resources.

The organization's spending efficiency appears reasonable given that expenses generally track closely with revenue, suggesting that funds are being deployed rather than accumulated excessively. The absence of officer compensation is a strong positive indicator for transparency and efficient use of donor funds. However, without detailed functional expense breakdowns, a precise assessment of administrative and fundraising efficiency is challenging. The consistent filing of IRS Form 990s over 12 periods demonstrates a commitment to regulatory compliance and basic financial transparency.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Joseph Storehouse Ministries Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

admin: 10%
programs: 85%
fundraising: 5%

According to IRS 990 filings, Joseph Storehouse Ministries Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

The organization consistently reports 0% officer compensation across all available filing periods, indicating that no salaries or other compensation are paid to its officers. This is a strong positive for donor confidence and suggests a volunteer-led or very lean executive structure.

Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.

Red Flags

The following concerns were identified during AI analysis of Joseph Storehouse Ministries Inc's IRS 990 filings:

Significant revenue decline from $2,567,253 in 2022 to $1,636,741 in 2023, which could impact future program capacity.
Lack of detailed functional expense breakdown (program, admin, fundraising) in the provided summary data makes a precise efficiency analysis difficult.

Strengths

The following positive indicators were identified for Joseph Storehouse Ministries Inc:

Consistent reporting of 0% officer compensation, indicating high efficiency in leadership costs.
Strong asset growth from $112,373 in 2014 to $935,161 in 2023, enhancing financial stability.
Long history of IRS 990 filings (12 periods), demonstrating commitment to transparency and compliance.
Expenses generally track closely with revenue, suggesting funds are actively used for mission-related activities rather than excessive accumulation.

Frequently Asked Questions about Joseph Storehouse Ministries Inc

Is Joseph Storehouse Ministries Inc a good charity?

Based on the provided data, Joseph Storehouse Ministries Inc appears to be a good charity, particularly due to its consistent reporting of 0% officer compensation, which suggests a high dedication to program spending and minimal overhead in leadership salaries. Its assets have also grown significantly over the past decade, indicating financial stability.

How has the organization's revenue trended recently?

The organization's revenue has fluctuated, peaking at $2,567,253 in 2022 and then decreasing to $1,636,741 in 2023. This represents a notable decline in the most recent year.

What is the organization's approach to executive compensation?

Joseph Storehouse Ministries Inc has consistently reported 0% officer compensation across all 12 available IRS 990 filings, indicating that its officers do not receive salaries or other forms of compensation from the organization.

Filing History

IRS 990 filing history for Joseph Storehouse Ministries Inc showing financial trends over 12 years of public records:

Over 12 years of IRS 990 filings (2011–2023), Joseph Storehouse Ministries Inc's revenue has grown by 15.1%, moving from $1.4M to $1.6M. Total assets increased by 2460.4% over the same period, from $37K to $935K. Total functional expenses rose by 9.2%, from $1.4M to $1.5M. In its most recent filing year (2023), Joseph Storehouse Ministries Inc reported a surplus of $113K, with revenue exceeding expenses. The organization holds $345K in liabilities against $935K in assets (debt-to-asset ratio: 36.9%), resulting in net assets of $590K.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$1.6M	$1.5M	$935K	$345K	—	—
2022	$2.6M	$2.1M	$1.0M	$366K	—	View 990
2021	$1.7M	$1.9M	$600K	$309K	—	View 990
2020	$1.6M	$1.5M	$789K	$461K	—	View 990
2019	$2.0M	$2.0M	$303K	$132K	—	View 990
2018	$2.1M	$2.1M	$260K	$166K	—	View 990
2017	$2.3M	$2.3M	$264K	$193K	—	View 990
2016	$2.3M	$2.2M	$364K	$192K	—	View 990
2015	$2.1M	$2.0M	$130K	$81K	—	View 990
2014	$2.2M	$2.2M	$112K	$154K	—	View 990
2012	$1.9M	$1.8M	$83K	$331K	—	View 990
2011	$1.4M	$1.4M	$37K	$670K	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $1.6M, expenses of $1.5M, and assets of $935K (revenue -36.2% year-over-year).
2022: Revenue of $2.6M, expenses of $2.1M, and assets of $1.0M (revenue +51.9% year-over-year).
2021: Revenue of $1.7M, expenses of $1.9M, and assets of $600K (revenue +3.8% year-over-year).
2020: Revenue of $1.6M, expenses of $1.5M, and assets of $789K (revenue -20.4% year-over-year).
2019: Revenue of $2.0M, expenses of $2.0M, and assets of $303K (revenue -2.4% year-over-year).
2018: Revenue of $2.1M, expenses of $2.1M, and assets of $260K (revenue -6.9% year-over-year).
2017: Revenue of $2.3M, expenses of $2.3M, and assets of $264K (revenue -2.0% year-over-year).
2016: Revenue of $2.3M, expenses of $2.2M, and assets of $364K (revenue +8.7% year-over-year).
2015: Revenue of $2.1M, expenses of $2.0M, and assets of $130K (revenue -5.8% year-over-year).
2014: Revenue of $2.2M, expenses of $2.2M, and assets of $112K (revenue +18.2% year-over-year).
2012: Revenue of $1.9M, expenses of $1.8M, and assets of $83K (revenue +33.3% year-over-year).
2011: Revenue of $1.4M, expenses of $1.4M, and assets of $37K.

Data Sources and Methodology

This transparency report for Joseph Storehouse Ministries Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.

IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.