Cornerstone of Hope Inc

Analysis

Cornerstone of Hope Inc is a registered charity in United States, based in Johnston, IA. It received its IRS tax-exemption ruling in September 2006, 20 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Cornerstone of Hope Inc reported income of $54k and spending of $45k, spending 82% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $58k to $54k (-6.1%), an average of -1.6% a year. The sharpest change came in the year to December 2023, when income dropped by 41%. Over the whole period it spent 91% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Cornerstone of Hope Inc sits at the 12th percentile: it is larger than about 12% of them. Against every charity in United States with reported income it ranks in the 21st percentile, and in the 18th percentile within IA. Charities of a similar size with the same main cause include Passavant Memorial Homes II Inc ($54k), Gordon Avenue-Summit View Resident Council Inc ($54k) and Denison Community Investment Corp ($54k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $66k against liabilities of $0, net assets of $66k.