Cornerstone Missions Inc

Analysis

Cornerstone Missions Inc is a registered charity in United States, based in Warrenton, VA. It received its IRS tax-exemption ruling in April 2004, 22 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 Missions Inc reported income of $2.5m and spending of $2.9m, spending 117% of what it took in. Across the 4 years on record, from December 2019 to December 2023, income fell from $3.8m to $2.5m (-36%), an average of -14% a year. The sharpest change came in the year to December 2021, when income dropped by 27%. Over the whole period it spent 100% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Cornerstone Missions Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within VA. Charities of a similar size with the same main cause include Cornerstone International Inc ($2.5m), The New Mexico Baptist Foundation ($2.5m) and Public Religion Research Institute ($2.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.0% and program service revenue 86% of the total. Compensation of current officers, directors and key employees was $622k (22% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $3.1m against liabilities of $3.0m, net assets of $75k. It reported 80 employees.