Civic Intelligence

Storehouse New Mexico

EIN 35-2511614 • 501(c)3 • Albuquerque, NM

Profile

The storehouse new mexico is one of new mexicos largest food pantry, combating hunger and food insecurity in new mexico by providing free food to people in need.

PO Box 94810Albuquerque, NM 87199-4810

thestorehouseabq.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

73rd percentile

0.22x

Higher debt load relative to assets than 73% of similar nonprofits.

NTEE K • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

68th percentile

0.12x

Higher debt load relative to revenue than 68% of similar nonprofits.

NTEE K • $1M-$5M nonprofits • Source year 2024

Net Margin

31st percentile

-1.0%

Higher net margin than 31% of similar nonprofits.

NTEE K • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

96th percentile

$208,432

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 4.8% of source-year revenue.

NTEE K • $1M-$5M nonprofits • Source year 2024

Asset Growth

35th percentile

1.6%

Faster asset growth than 35% of similar nonprofits.

NTEE K • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

67th percentile

28%

Faster revenue growth than 67% of similar nonprofits.

NTEE K • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$2,288,324

Up $36,952 (+1.6%) from 2023

Liabilities

Up

$504,501

Up $221 (+0.0%) from 2023

Net Assets

Up

$1,783,823

Up $36,731 (+2.1%) from 2023

Revenue

Up

$4,373,563

Up $969,910 (+28%) from 2023

Expenses

Up

$4,418,880

Up $1,112,897 (+34%) from 2023

Net Income

Down

-$45,317

Down $142,987 (-146%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0Assets 2015: $1,441,639Liabilities 2015: $562,205Net Assets 2015: $879,4342015Assets 2016: $1,396,874Liabilities 2016: $557,217Net Assets 2016: $839,6572016Assets 2017: $1,540,133Liabilities 2017: $615,700Net Assets 2017: $924,4332017Assets 2019: $1,411,522Liabilities 2019: $523,491Net Assets 2019: $888,0312019Assets 2020: $1,678,246Liabilities 2020: $511,320Net Assets 2020: $1,166,9262020Assets 2021: $1,882,019Liabilities 2021: $539,798Net Assets 2021: $1,342,2212021Assets 2022: $2,151,738Liabilities 2022: $507,566Net Assets 2022: $1,644,1722022Assets 2023: $2,251,372Liabilities 2023: $504,280Net Assets 2023: $1,747,0922023Assets 2024: $2,288,324Liabilities 2024: $504,501Net Assets 2024: $1,783,8232024

Highlighted filing

2024

Assets$2,288,324
Liabilities$504,501
Net Assets$1,783,823

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2015: $2,795,243Expenses 2015: $1,915,809Net Income 2015: $879,4342015Revenue 2016: $2,320,642Expenses 2016: $2,360,419Net Income 2016: -$39,7772016Revenue 2017: $3,267,308Expenses 2017: $3,182,532Net Income 2017: $84,7762017Revenue 2019: $2,795,568Expenses 2019: $2,926,926Net Income 2019: -$131,3582019Revenue 2020: $3,363,007Expenses 2020: $3,084,112Net Income 2020: $278,8952020Revenue 2021: $3,517,979Expenses 2021: $3,362,126Net Income 2021: $155,8532021Revenue 2022: $3,153,532Expenses 2022: $2,794,264Net Income 2022: $359,2682022Revenue 2023: $3,403,653Expenses 2023: $3,305,983Net Income 2023: $97,6702023Revenue 2024: $4,373,563Expenses 2024: $4,418,880Net Income 2024: -$45,3172024

Highlighted filing

2024

Revenue$4,373,563
Expenses$4,418,880
Net Income-$45,317

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 14, 2025
Return Version
2023v6.0
Gross Receipts
$4,399,228
Mission and Program Overview

Mission

The storehouse new mexico is new mexicos largest food pantry, combating hunger and food insecurity in new mexico by providing free food and clothing to people in need.

The storehouse new mexico is one of new mexico's largest food pantry, combating hunger and food insecurity in new mexico by providing free food to people in need.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$955,576$1,135,194▲ $179,618
Cash and Non-Interest-Bearing Accounts$751,153$501,847▼ $249,306
Investments in Publicly Traded Securities$317,744$346,035▲ $28,291
Inventories for Sale or Use$103,244$104,084▲ $840
Savings and Temporary Cash Investments-$101,389-
Prepaid Expenses and Deferred Charges$44,767$44,715▼ $52
Pledges and Grants Receivable$62,434$19,961▼ $42,473
Total Assets$2,251,372$2,288,324▲ $36,952
Other Assets Total$16,454$35,099▲ $18,645
Liabilities
Mortgage Notes Payable Secured by Investment Property$417,609$400,920▼ $16,689
Other Liabilities$71,036$62,904▼ $8,132
Accounts Payable and Accrued Expenses$15,635$40,677▲ $25,042
Total Liabilities$504,280$504,501▲ $221
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,686,855$1,766,537▲ $79,682
Net Assets With Donor Restrictions$60,237$17,286▼ $42,951
Total Net Assets Fund Balance$1,747,092$1,783,823▲ $36,731
Total Liabilities and Net Assets / Fund Balance$2,251,372$2,288,324▲ $36,952

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$446,579$169,186$615,765
Land$565,100-$326,600
Other Land Buildings$104,964$56,797$161,761
Equipment$18,551$42,128$60,679
Compensation and Service Providers

Employees

NameTitleOtherTotal
Rebecca SanfordPresident an$208,432$208,432
Brian AmmermanVP of Busine$153,523$153,523
Maria OteroCFO/VP of Fi$125,486$125,486

Board Members and Trustees

NameTitle
Nathan SanchezChair
Rebecca SanfordPresident and CEO
Carlos HernandezDirector
Danielle CarterDirector
Jennifer JamesDirector
Kelli AlcantarDirector
Kim MoserDirector
Suzanne BrucknerDirector
Kathy MccormickSecretary
Kevin Todd CPATreasurer
Brian AmmermanVP of Business Mgt.
Revenue and Support

Revenue Composition

Contributions and Grants
$4,317,101
Program Service Revenue
$65,122
Investment Income
$2,465
Other Revenue
$-11,125
All Other Contributions
$4,206,674
Change in Net Assets
$-45,317

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Food Inventory124$3,310,6401.70 Per Pound
Total Noncash Contributions124$3,310,640-

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,398,135
Revenue Not Reported on Financial Statements
$-24,572
Revenue Not Reported on Form 990
$32,448
Other Revenue Adjustments
$-25,665
Total Revenue per Audited Statements
$4,430,583
Total Revenue per Form 990
$4,373,563
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,418,880
Total Fundraising Expense$7,342
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$60,017$96,027-$156,044
Office Expenses$61,627--$61,627
Depreciation Depletion$45,298--$45,298
Other Expenses$30,944-$7,342$30,944
Fees for Services Accounting$11,384$18,213-$29,597
All Other Expenses$26,184--$26,184
Interest$19,024--$19,024
Fees for Service Investment Mgmnt Fees-$1,093-$1,093
Fees for Services Legal$335$535-$870
Total Functional Expenses$4,295,670$115,868$7,342$4,418,880

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$4,443,452
Total Expenses per Form 990$4,418,880
Expenses per Audited Statements$4,417,787
Expenses Not Reported on Form 990$25,665
Expenses Not Reported on Financial Statements$1,093
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$25,665
Fundraising Gross Income$14,540
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$65,967$14,540$4,234$10,306
Hotrod for Hung$13,400-$2,300-
Total Events$79,367$14,540$25,665$-11,125
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Related Party$62,904
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

Adelante development center, inc., a 501 (c)(3) entity, is the sole member of the organization.

Form 990, Page 6, Part VI, Line 7A

Adelante development center, inc., is the storehouse new mexico's sole member who appoints members to the board of directors.

Form 990, Page 6, Part VI, Line 7B

Major governance decisions of the storehouse new mexico are subject to approval of its sole member, adelante development center, inc.

Form 990, Page 6, Part VI, Line 11B

There is a review of the form 990 with the board of directors. Also, all board members are emailed a copy of the form 990 before it is filed with the internal revenue service and approval from the board is obtained. The storehouse board reviews and recommends approval to the adelante board. Adelante makes the final approval.

Form 990, Page 6, Part VI, Line 12C

The board of directors instituted a conflict of interest policy, a whistleblower policy, a document retention and destruction policy . Adelante development center, inc., as the sole member does have these policies in place and ensures these policies provide oversight to the storehouse new mexico in addition to implementing specific storehouse policies.

Form 990, Page 6, Part VI, Line 15A

The board of directors executive committee of the related organization reviews ceo compensation as compared with local job market and makes recommendation to the full board for review and approval.

Form 990, Page 6, Part VI, Line 15B

There is a comparability data review and any compensation changes are included in the organizational budget, which is approved by the board of directors of the related organization.

Form 990, Page 6, Part VI, Line 19

The documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Storehouse New Mexico
EIN
35-2511614
Phone
5053412000
Address
PO BOX 94810, ALBUQUERQUE, NM 87199-4810

Signing Officer

Name
Maria Otero
Title
CFO/VP of Finance
Phone
0050534120
Signed
2025-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Maria Otero
Formed
2014
Legal Domicile
Nm
Voting Board Members
12
Independent Board Members
9
Employees
0
Volunteers
821

Preparer

Firm
Pulakos Cpas Pc
Address
6753 ACADEMY RD NE, ALBUQUERQUE, NM 87109
Preparer
Robert a Depasquale CPA
Phone
5053381500
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Py correction of an error 49,600 during the fiscal year ended june 30, 2024 audit of the organization's financial statements (note 10), management determined that revenue recognized for contributions received in 2024 should have been recognized in 2023 as notification of the unconditional contribution was received in 2023. When the error was identified, an adjustment to prior year revenues and receivables was necessary to reflect that revenues on these grants and contributions were earned in 2023.

Financial Statement Notes

Schedule D, Page 3, Part X

The storehouse is a nonprofit charitable corporation and has been recognized as tax-exempt under section 501(c)(3) of the internal revenue code. The storehouse has adopted accounting principles generally accepted in the united states of america, as they relate to uncertain tax positions, and has evaluated its tax positions taken for open tax years. Management believes that the activities of the storehouse are within their tax-exempt purpose, and that there are no uncertain tax positions.

Schedule D, Page 4, Part XI, Line 4B

Fundraising expenses reclassed to page 9 -25,665

Schedule D, Page 4, Part XII, Line 2D

Fundraising expenses reclassed to page 9 25,665

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IRS990/MembersOrStockholdersInd0true
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
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IRS990/MissionDesc0THE STOREHOUSE NEW MEXICO IS ONE OF NEW MEXICOS LARGEST FOOD PANTRY, COMBATING HUNGER AND FOOD INSECURITY IN NEW MEXICO BY PROVIDING FREE FOOD TO PEOPLE IN NEED.
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IRS990/MoreThan5000KToOrgInd0false
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IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt016454
IRS990/OtherAssetsTotalGrp/EOYAmt035099
IRS990/OtherChangesInNetAssetsAmt049600
IRS990/OtherExpensesGrp/Desc0FOOD DISTRIBUTION
IRS990/OtherExpensesGrp/Desc1REIMBURSED WAGES & RLTD
IRS990/OtherExpensesGrp/Desc2OTHER EXPENSES
IRS990/OtherExpensesGrp/Desc3UTILITIES
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IRS990/OtherExpensesGrp/TotalAmt2122707
IRS990/OtherExpensesGrp/TotalAmt330944
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IRS990/PrincipalOfficerNm0MARIA OTERO
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IRS990/PYOtherRevenueAmt054800
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IRS990/RevenueAmt065122
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0101389
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0FUNDRAISING INCOME 143,488
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt03268207
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt03268662
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt01550
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IRS990ScheduleA/TotalSupportAmt017499403
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IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0161761
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt062904
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO RELATED PARTY
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IRS990ScheduleD/RevenueNotReportedAmt032448
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0-24572
IRS990ScheduleD/RevenueSubtotalAmt04398135
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE STOREHOUSE IS A NONPROFIT CHARITABLE CORPORATION AND HAS BEEN RECOGNIZED AS TAX-EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE STOREHOUSE HAS ADOPTED ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA, AS THEY RELATE TO UNCERTAIN TAX POSITIONS, AND HAS EVALUATED ITS TAX POSITIONS TAKEN FOR OPEN TAX YEARS. MANAGEMENT BELIEVES THAT THE ACTIVITIES OF THE STOREHOUSE ARE WITHIN THEIR TAX-EXEMPT PURPOSE, AND THAT THERE ARE NO UNCERTAIN TAX POSITIONS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1FUNDRAISING EXPENSES RECLASSED TO PAGE 9 -25,665
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2FUNDRAISING EXPENSES RECLASSED TO PAGE 9 25,665
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XI, LINE 4B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XII, LINE 2D
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