JOSEPH STOREHOUSE MINISTRIES INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2006

Legal Domicile

Principal Officer

DEBORAH L PATTEN

Phone

7036703532

Tax Period

2023-01-01 to 2023-12-31

JOSEPH STOREHOUSE MINISTRIES INC, founded in 2006, is a community nonprofit in the Religion sector that reported $1.6M in total revenue in fiscal year 2023. Revenue fell 36% from the prior year — a significant decline worth monitoring. Expenses of $1.5M left a modest 7% surplus.

Mission

CHRISTIAN SCHOOL & ACADEMY/EDUCATIONAL SERVICES. SERVE AS AN EXTENSION OF THE FAMILY & HOME, PARTNERING WITH THE FAMILY AND CHURCH COMMUNITY TO PRESENT AN OPTIMAL ENVIRONMENT FOR NURTURING & LEARNING. PRESENTATION OF EDUCATIONAL MATERIALS THAT BUILD READING & MATH SKILLS TO INCOME CHALLENGED DEMOGRAPHICS. SEND MISSIONARIES ABROAD AND SUPPORT OTHER MINISTRIES THAT FEED AND CLOTH CHILDREN WHILE EDUCATING THEM IN CHRISTIAN PRINCIPLES.

Program Service Accomplishments

Program 1

Expenses: $424,154

A CHRITIAN EDUCATION PROGRAM WAS IMPLEMENTED TO OVER 100 CHILDREN AGES 3 WEEKS TO 4 YEARS. THE ABEKA ALONG WITH THE HIGH REACH PROGRAMS AIDE THE TEACHERS OFFERING LANGUAGE DEVELOPMENT TO AGES 8...

A CHRITIAN EDUCATION PROGRAM WAS IMPLEMENTED TO OVER 100 CHILDREN AGES 3 WEEKS TO 4 YEARS. THE ABEKA ALONG WITH THE HIGH REACH PROGRAMS AIDE THE TEACHERS OFFERING LANGUAGE DEVELOPMENT TO AGES 8 MONTHS TO 4 YEARS OF AGE. THE DEVELOPMENT EVALUATION GUIDELINE CONTINUED FOR AGES 16 MONTHS AND OLDER TO HELP IDENTIFY AREAS OF ACADEMIC AND SOCIAL STRENGHTS AND WEAKNESSES, THEN TO GIVE INDIVIDUAL ATTENTION TO TARGETED AREAS. THE YEAR 2022, ALL SCHOOL FUNCTIONS WERE RESUMED IN FULL. WE CONTINUED TO UTILIZE GRANTS TO UPGRADE FACILITIES TO IMPROVE ACADEMIC ACCESS.

Program 2

Expenses: $472,410

WE TRANSFERED THE ALEXANDRIA LOCATION TO SAINT YARED ACADEMY (A NOT FOR PROFIT ORGANIZATION) IN NOVEMBER 2022 AND HELPED THEM GET ESTABLISHED IN THAT LOCATION.

Program 3

Expenses: $361,725

WE UPGRADED THE BUILDING FOR PRECIOUS LAMBS WITH A NEW OUTDOOR PLAYGROUND, REVITALIZED ENTIRE BUILDING, REMODDELED THE NURSERY, INSTALLED A PRESCHOOL LIBRARY, UPGRADED ALL A/C-HEATING UNITS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $112,778

Program Service Revenue $888,177

Investment Income $635,786

Other Revenue $0

TOTAL REVENUE $1,636,741

Expense Breakdown

Grants Paid $0

Salaries & Benefits $615,581

Fundraising Expenses $0

Program Expenses $1,258,289

Other Expenses $908,593

TOTAL EXPENSES $1,524,174

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,636,741	$2,567,253	-0.4%
Expenses	$1,524,174	$2,065,015	-0.3%
Net Income	$112,567	$502,238	-0.8%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHARLES BENNETT	DIRECTOR	N/A	Director	$0	$0	$0
SONOELL B CLARK	DIRECTOR	N/A	Director	$0	$0	$0
DEBORAH L PATTEN	CHIEF OPERAT	N/A	Officer Director	$0	$0	$0
ROBERT MACARTHUR PATTEN	BOARD CHAIRM	N/A	Officer Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$1,636,741	$1,524,174	$935,161	$112,567
2022	$2,567,253	$2,065,015	$1,034,254	$502,238
2021	$1,690,623	$1,877,198	$600,437	$-186,575
2020	$1,628,759	$1,459,351	$789,063	$169,408
2019	$2,045,984	$1,971,169	$302,506	$74,815
2018	$2,095,460	$2,071,164	$259,750	$24,296