Cornerstone Day Care Center Inc

Analysis

Cornerstone Day Care Center Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in April 1975, 51 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2022, Cornerstone Day Care Center Inc reported income of $940k and spending of $978k, spending 104% of its income. Across the 4 years on record, from June 2019 to June 2022, income grew from $641k to $940k (+47%), an average of +14% a year. The sharpest change came in the year to June 2020, when income rose by 32%. Over the whole period it spent 103% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Cornerstone Day Care Center Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 75th percentile within NY. Charities of a similar size with the same main cause include Pillager Family Council ($940k), Habitat for Humanity International Inc ($940k) and San Juan Medical Foundation Inc ($940k).

On its Form 990 for the period ending June 2022, revenue came from contributions and grants 90% and program service revenue 10% of the total. Other salaries and wages came to $485k. At year end it held assets of $573k against liabilities of $469k, net assets of $105k. It reported 32 employees.