My Fathers Storehouse
My Fathers Storehouse experiences significant revenue and asset growth with zero reported officer compensation.
EIN: 10787966 · Hendersonvlle, NC · NTEE: P20 · Updated: 2026-03-28
Is My Fathers Storehouse Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
My Fathers Storehouse directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About My Fathers Storehouse
My Fathers Storehouse (EIN: 10787966) is a nonprofit organization based in Hendersonvlle, NC, classified under NTEE code P20. The organization reported total revenue of $1.9M and total assets of $1.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of My Fathers Storehouse's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
My Fathers Storehouse is a mid-size nonprofit that has been operating for 22 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 24.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.6M |
| Total Expenses | $1.2M |
| Surplus / Deficit | +$397K |
| Total Assets | $769K |
| Net Assets | $770K |
| Operating Margin | 25.3% |
| Months of Reserves | 7.9 months |
Financial Health Grade: A
In 2023, My Fathers Storehouse reported a surplus of $397K with revenue exceeding expenses, holds 7.9 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), My Fathers Storehouse's revenue has grown at a compound annual growth rate (CAGR) of 24.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +33.3% | +2.4% | +104.5% |
| 2022 | +28.2% | +45.9% | +10.0% |
| 2021 | +20.3% | +25.9% | +62.5% |
| 2020 | +281.4% | +247.9% | +203.7% |
| 2019 | +25.0% | +10.9% | +44.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates My Fathers Storehouse with a Mission Score of 92 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: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, My Fathers Storehouse allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $397K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization's leadership is either entirely volunteer-based or compensated through non-officer categories, which is highly favorable for resource allocation to programs.
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 My Fathers Storehouse's IRS 990 filings:
- Lack of detailed expense breakdown in summary data makes precise program vs. admin spending difficult to ascertain without full 990 forms.
Strengths
The following positive indicators were identified for My Fathers Storehouse:
- Significant and consistent revenue growth, from $199,902 in 2019 to $1,566,988 in 2023.
- Zero reported officer compensation across all filings, indicating high dedication of resources to mission.
- Consistent positive net income (revenue exceeding expenses) in recent years, contributing to asset growth.
- Substantial growth in assets, from $69,325 in 2019 to $769,391 in 2023, enhancing financial stability.
- Strong program focus implied by the absence of officer compensation and healthy financial surpluses.
Frequently Asked Questions about My Fathers Storehouse
Is My Fathers Storehouse a legitimate charity?
Based on AI analysis of IRS 990 filings, My Fathers Storehouse (EIN: 10787966) some concerns. Mission Score: 92/100. 1 red flag identified, 5 strengths noted.
How does My Fathers Storehouse spend its money?
My Fathers Storehouse directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to My Fathers Storehouse tax-deductible?
My Fathers Storehouse is registered as a tax-exempt nonprofit (EIN: 10787966). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is My Fathers Storehouse a good charity?
Based on the available IRS 990 data, My Fathers Storehouse appears to be a good charity. It demonstrates strong financial growth, maintains a healthy surplus, and reports 0% officer compensation, suggesting a high dedication of resources to its mission.
How has My Fathers Storehouse's revenue changed over time?
My Fathers Storehouse has experienced substantial revenue growth, increasing from $199,902 in 2019 to $1,566,988 in 2023, indicating growing support and operational scale.
What is the organization's financial stability?
The organization shows strong financial stability, with assets growing from $69,325 in 2019 to $769,391 in 2023, and consistent revenue surpluses over expenses.
Does My Fathers Storehouse pay its officers?
According to the IRS 990 filings, My Fathers Storehouse consistently reports 0% officer compensation across all available periods, suggesting officers are not compensated or are compensated through other means not classified as officer compensation.
Filing History
IRS 990 filing history for My Fathers Storehouse showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), My Fathers Storehouse's revenue has grown by 1259.3%, moving from $115K to $1.6M. Total assets increased by 2665.3% over the same period, from $28K to $769K. Total functional expenses rose by 955.3%, from $111K to $1.2M. In its most recent filing year (2023), My Fathers Storehouse reported a surplus of $397K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.6M | $1.2M | $769K | $-905 | — | View 990 |
| 2022 | $1.2M | $1.1M | $376K | $3K | — | View 990 |
| 2021 | $917K | $783K | $342K | $2K | — | View 990 |
| 2020 | $762K | $622K | $211K | $4K | — | View 990 |
| 2019 | $200K | $179K | $69K | $3K | — | View 990 |
| 2018 | $160K | $161K | $48K | $3K | — | View 990 |
| 2017 | $166K | $179K | $49K | $3K | — | View 990 |
| 2016 | $203K | $178K | $62K | $3K | — | View 990 |
| 2015 | $182K | $185K | $36K | $2K | — | View 990 |
| 2014 | $143K | $131K | $37K | $2K | — | View 990 |
| 2013 | $115K | $115K | $24K | $1K | — | View 990 |
| 2012 | $104K | $106K | $25K | $911 | — | View 990 |
| 2011 | $115K | $111K | $28K | $988 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.6M, expenses of $1.2M, and assets of $769K (revenue +33.3% year-over-year).
- 2022: Revenue of $1.2M, expenses of $1.1M, and assets of $376K (revenue +28.2% year-over-year).
- 2021: Revenue of $917K, expenses of $783K, and assets of $342K (revenue +20.3% year-over-year).
- 2020: Revenue of $762K, expenses of $622K, and assets of $211K (revenue +281.4% year-over-year).
- 2019: Revenue of $200K, expenses of $179K, and assets of $69K (revenue +25.0% year-over-year).
- 2018: Revenue of $160K, expenses of $161K, and assets of $48K (revenue -3.4% year-over-year).
- 2017: Revenue of $166K, expenses of $179K, and assets of $49K (revenue -18.6% year-over-year).
- 2016: Revenue of $203K, expenses of $178K, and assets of $62K (revenue +11.5% year-over-year).
- 2015: Revenue of $182K, expenses of $185K, and assets of $36K (revenue +27.2% year-over-year).
- 2014: Revenue of $143K, expenses of $131K, and assets of $37K (revenue +25.2% year-over-year).
- 2013: Revenue of $115K, expenses of $115K, and assets of $24K (revenue +10.6% year-over-year).
- 2012: Revenue of $104K, expenses of $106K, and assets of $25K (revenue -10.2% year-over-year).
- 2011: Revenue of $115K, expenses of $111K, and assets of $28K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for My Fathers Storehouse:
Data Sources and Methodology
This transparency report for My Fathers Storehouse 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.