Civic Intelligence

The Storehouse Inc

EIN 85-0241340 • 501(c)3 • Albuquerque, NM

Profile

To provide assistance to people in need. For over thirty years the storehouse has been a safety net that has provided food, clothing, and household items free of charge for people struggling to support their families in a time of crisis. There is never a charge for food or clothing at the storehouse and we never turn anyone away.

106 Broadway Blvd SEAlbuquerque, NM 87102

n/A

Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2014

Liabilities / Revenue

19th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

31st percentile

-3.7%

Higher net margin than 31% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

2nd percentile

-100%

Faster asset growth than 2% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

47th percentile

5.5%

Faster revenue growth than 47% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Assets

Down

$0

Down $2,042,722 (-100%) from 2013

Liabilities

Down

$0

Down $576,492 (-100%) from 2013

Net Assets

Down

$0

Down $1,466,230 (-100%) from 2013

Revenue

Up

$3,329,713

Up $172,894 (+5.5%) from 2013

Expenses

Up

$3,454,335

Up $135,975 (+4.1%) from 2013

Net Income

Up

-$124,622

Up $36,919 (+23%) from 2013

Trend Graphs

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2011: $1,637,325Liabilities 2011: $726,102Net Assets 2011: $911,2232011Assets 2012: $2,274,016Liabilities 2012: $646,245Net Assets 2012: $1,627,7712012Assets 2013: $2,042,722Liabilities 2013: $576,492Net Assets 2013: $1,466,2302013Assets 2014: $0Liabilities 2014: $0Net Assets 2014: $02014

Highlighted filing

2014

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

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

$4.0M$2.0M$0-$2.0MExpenses 2011: $3,840,6312011Expenses 2012: $3,203,1502012Revenue 2013: $3,156,819Expenses 2013: $3,318,360Net Income 2013: -$161,5412013Revenue 2014: $3,329,713Expenses 2014: $3,454,335Net Income 2014: -$124,6222014

Highlighted filing

2014

Revenue$3,329,713
Expenses$3,454,335
Net Income-$124,622

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Nov 6, 2015
Return Version
2014v5.0
Gross Receipts
$3,329,713
Mission and Program Overview

Mission

To provide assistance to people in need. For over thirty years the storehouse has been a safety net that has provided food, clothing, and household items free of charge for people struggling to support their families in a time of crisis. There is never a charge for food or clothing at the storehouse and we never turn anyone away.

See Schedule O.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,651,882--
Inventories for Sale or Use$253,967--
Savings and Temporary Cash Investments$68,062--
Cash and Non-Interest-Bearing Accounts$50,701--
Pledges and Grants Receivable$10,000--
Total Assets$2,042,722$0▼ $2,042,722
Other Assets Total$8,110--
Liabilities
Mortgage Notes Payable Secured by Investment Property$543,373--
Accounts Payable and Accrued Expenses$24,959--
Other Liabilities$8,160--
Total Liabilities$576,492$0▼ $576,492
Net Assets / Fund Balance
Unrestricted Net Assets$1,442,906--
Temporarily Rstr Net Assets$23,324--
Total Net Assets Fund Balance$1,466,230$0▼ $1,466,230
Total Liabilities and Net Assets / Fund Balance$2,042,722$0▼ $2,042,722
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Nina JohnsonExecutive DirectorFT$28,039$28,039

Board Members and Trustees

NameTitle
Benjamin ThomasPresident
Cindy L DavisVice President
Suzanne Wood BrucknerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$3,312,135
Program Service Revenue
$11,035
Investment Income
$87
Other Revenue
$6,456
All Other Contributions
$3,312,135
Change in Net Assets
$-124,622

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Food Inventory1,899,828$2,835,564Estimated Fair Value
Total Noncash Contributions1,899,828$2,835,564-

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,329,713
Total Revenue per Audited Statements
$3,329,713
Total Revenue per Form 990
$3,329,713
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,180,071
Salaries, Compensation, and Employee Benefits$274,264
Total Fundraising Expense$76,675
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$163,782$56,543$570$220,895
Depreciation Depletion$34,388$11,872$6,007$52,267
Fees for Services Other$0$10,887$21,538$32,425
Interest$20,370$7,033$3,558$30,961
Current Officers, Directors, Trustees, and Key Employees$0$0$28,039$28,039
All Other Expenses$24,736$510$1,024$26,270
Fees for Services Accounting$0$25,065$0$25,065
Other Expenses$16,217$5,599$2,832$24,648
Payroll Taxes$13,260$4,578$2,316$20,154
Insurance$12,100$4,177$2,113$18,390
Office Expenses$7,646$2,640$1,336$11,622
Advertising$0$0$5,442$5,442
Pension Plan Contributions$3,406$1,176$594$5,176
Total Functional Expenses$3,244,995$132,665$76,675$3,454,335

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,454,335
Total Expenses per Audited Statements$3,454,335
Total Expenses per Form 990$3,454,335
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$1,863
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
No
Key decisions subject to board approval
No
Management duties delegated
Yes
Filing and Contact Details

Filer

Filer Name
The Storehouse Inc
EIN
85-0241340
Phone
5058426491
Address
106 Broadway Blvd SE, Albuquerque, NM 87102

Signing Officer

Name
Suzanne Wood Bruckner
Title
Treasurer
Phone
5058426491
Signed
2015-11-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Suzanne Wood Bruckner
Formed
1976
Legal Domicile
Nm
Voting Board Members
3
Independent Board Members
3
Employees
16
Volunteers
1,200

Preparer

Firm
Riley Business Consulting LLC
Address
PO Box 10484, Albuquerque, NM 87184
Preparer
Pauline a Riley CPA
Phone
5055085102
Supplemental Narrative

Additional Explanations

Pt VI, Line 18

Transfer of Net Assets. Effective April 7, 2014, The Storehouse Inc entered into a management agreement with Adelante Development Center, Inc. (Adelante). This agreement allows Adelante the sole and exclusive right, subject to the availability of funds, to perform supervision and management of ongoing activities and operations of The Storehouse Inc. Adelante will provide management and operational support to The Storehouse Inc. During the year ended December 31, 2014, Adelante formed a New Mexico nonprofit corporation (The Storehouse New Mexico) with a purpose and mission substantially similar to The Storehouse Inc. Based on these agreements, primarily all The Storehouse Inc assets and liabilities were effectively transferred to The Storehouse New Mexico during the year ended December 31, 2014, and The Storehouse Inc discontinued operations.

Pt III, Line 3

Form 990 - Organization's Mission - To provide assistance to people in need. For over thirty years the Storehouse Inc has been a safety net that has provided food, clothing, and household items free of charge for people struggling to support their families in a time of crisis. There is never a charge for food or clothing at the Storehouse Inc and we never turn anyone away.

Other

Discontinued Operations. Effective April 7, 2014, The Storehouse Inc entered into a management agreement with Adelante Development Center, Inc. (Adelante). This agreement allows Adelante the sole and exclusive right, subject to the availability of funds, to perform supervision and management of ongoing activities and operations of The Storehouse Inc. Adelante will provide management and operational support to The Storehouse Inc. During the year ended December 31, 2014, Adelante formed a New Mexico nonprofit corporation (The Storehouse New Mexico) with a purpose and mission substantially similar to The Storehouse Inc. Based on these agreements, primarily all The Storehouse Inc assets and liabilities were effectively transferred to The Storehouse New Mexico during the year ended December 31, 2014, and The Storehouse Inc discontinued operations.

Pt VI, Line 11B

Organization's Process to Review Form 990- A draft of the 990 Information return is provided to board members for review and comments prior to filing.

Pt VI, Line 12C

Enforcement of Conflicts Policy - The Board would evaluate and enforce policies related to the conflict of interest.

Pt VI, Line 15A

Compensation process for top official. - The compensation of management is determined and approved as part of the annual budgeting process.

Pt VI, Line 15B

Compensation process for Officers - The compensation of management is determined and approved as part of the annual budgeting process.

Pt VI, Line 19

Governing Documents Disclosure Explanation. Governing Documents are maintained at the office location and are made available upon request.

Pt VI, Line 2

Benjamin Thomas and Suzanne Wood Bruckner are Shareholders at Sutin Thayer & Browne APC

Pt VI, Line 3

Delegation of Control. Effective April 7, 2014, The Storehouse Inc entered into a management agreement with Adelante Development Center, Inc. (Adelante). This agreement allows Adelante the sole and exclusive right, subject to the availability of funds, to perform supervision and management of ongoing activities and operations of The Storehouse Inc. Adelante will provide management and operational support to The Storehouse Inc. During the year ended December 31, 2014, Adelante formed a New Mexico nonprofit corporation (The Storehouse New Mexico) with a purpose and mission substantially similar to The Storehouse Inc.

Form 990, Part IX, Line 24F

Vehicles 24736. 24736. 0. 0. Fundraising 795. 795. Meetings 650. 421. 229. Miscellaneous 89. 0. 89. 0.

Financial Statement Notes

Pt X, Line 2

Fin 48 Footnote - The Storehouse Inc is exempt from income taxes under section 501(c)(3) of the internal revenue code, and has been classified by the internal revenue service as an organization that is not a private foundation. The Storehouse Inc regularly evaluated its activities as they related to its tax exempt status. If the Storehouse Inc activities were determined to be outside of its tax exempt status the potential existed for tax liabilities on those unrelated activities. The Storehouse Inc engaged in no activities that would be taxed as unrelated business income. Accordingly no provision for income taxes were reflected in the Storehouse Inc.'s financial statements. The Storehouse's income tax filings are subject to audit by various taxing authorities. The Storehouse's open audit periods are for the years ended December 31, 2011 through December 31, 2014. The Storehouse Inc had adopted the provisions of FASB ASC 740-10 "Accounting for Uncertainty in Income Taxes." The Storehouse Inc did not recognize any changes to its financial statements for uncertain tax positions resulting from this adoption.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Fin 48 Footnote - The Storehouse Inc is exempt from income taxes under section 501(c)(3) of the internal revenue code, and has been classified by the internal revenue service as an organization that is not a private foundation. The Storehouse Inc regularly evaluated its activities as they related to its tax exempt status. If the Storehouse Inc activities were determined to be outside of its tax exempt status the potential existed for tax liabilities on those unrelated activities. The Storehouse Inc engaged in no activities that would be taxed as unrelated business income. Accordingly no provision for income taxes were reflected in the Storehouse Inc.'s financial statements. The Storehouse's income tax filings are subject to audit by various taxing authorities. The Storehouse's open audit periods are for the years ended December 31, 2011 through December 31, 2014. The Storehouse Inc had adopted the provisions of FASB ASC 740-10 "Accounting for Uncertainty in Income Taxes." The Storehouse Inc did not recognize any changes to its financial statements for uncertain tax positions resulting from this adoption.
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IRS990ScheduleM/FoodInventoryGrp/ContributionCnt01899828
IRS990ScheduleM/FoodInventoryGrp/MethodOfDeterminingRevenuesTxt0Estimated Fair Value
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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0Cash & Cash Equivalents
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc1Land 3501 Princeton Street NE
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc2Building 3501 Princeton Street
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc3Land Broadway Blvd SE
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc4Buildings Broadway Blvd SE
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc5Equipment Broadway Blvd SE
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt0The Storehouse New Mexico
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt1Adelante Development Center Inc
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt2Adelante Development Center Inc
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt3The Storehouse New Mexico
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt4The Storehouse New Mexico
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt5The Storehouse New Mexico
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt02014-12-31
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt12014-05-16
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt22014-05-16
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt32014-12-31
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt42014-12-31
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt52014-12-31
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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt0501(c)(3)
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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt0106 Broadway Blvd SE
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt13900 Osuna Road NE
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt23900 Osuna Road NE
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt3106 Broadway Blvd SE
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt4106 Broadway Blvd SE
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt5106 Broadway Blvd SE
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm0Albuquerque
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm1Albuquerque
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm2Albuquerque
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm3Albuquerque
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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm5Albuquerque
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IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt0Suzanne Wood Bruckner,Benjamin Thomas, and Cindy L. Davis serve as Directors for The Storehouse New Mexico.
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I, Line 2e
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Transfer of Net Assets. Effective April 7, 2014, The Storehouse Inc entered into a management agreement with Adelante Development Center, Inc. (Adelante). This agreement allows Adelante the sole and exclusive right, subject to the availability of funds, to perform supervision and management of ongoing activities and operations of The Storehouse Inc. Adelante will provide management and operational support to The Storehouse Inc. During the year ended December 31, 2014, Adelante formed a New Mexico nonprofit corporation (The Storehouse New Mexico) with a purpose and mission substantially similar to The Storehouse Inc. Based on these agreements, primarily all The Storehouse Inc assets and liabilities were effectively transferred to The Storehouse New Mexico during the year ended December 31, 2014, and The Storehouse Inc discontinued operations.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Form 990 - Organization's Mission - To provide assistance to people in need. For over thirty years the Storehouse Inc has been a safety net that has provided food, clothing, and household items free of charge for people struggling to support their families in a time of crisis. There is never a charge for food or clothing at the Storehouse Inc and we never turn anyone away.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Discontinued Operations. Effective April 7, 2014, The Storehouse Inc entered into a management agreement with Adelante Development Center, Inc. (Adelante). This agreement allows Adelante the sole and exclusive right, subject to the availability of funds, to perform supervision and management of ongoing activities and operations of The Storehouse Inc. Adelante will provide management and operational support to The Storehouse Inc. During the year ended December 31, 2014, Adelante formed a New Mexico nonprofit corporation (The Storehouse New Mexico) with a purpose and mission substantially similar to The Storehouse Inc. Based on these agreements, primarily all The Storehouse Inc assets and liabilities were effectively transferred to The Storehouse New Mexico during the year ended December 31, 2014, and The Storehouse Inc discontinued operations.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Organization's Process to Review Form 990- A draft of the 990 Information return is provided to board members for review and comments prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Enforcement of Conflicts Policy - The Board would evaluate and enforce policies related to the conflict of interest.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Compensation process for top official. - The compensation of management is determined and approved as part of the annual budgeting process.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Compensation process for Officers - The compensation of management is determined and approved as part of the annual budgeting process.

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