Cornerstone Senior Communities

Analysis

Cornerstone Senior Communities is a registered charity in United States, based in Sutherland, IA. It received its IRS tax-exemption ruling in June 2004, 22 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 December 2023, Cornerstone Senior Communities reported income of $112k and spending of $144k, spending 128% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $96k to $112k (+16%), an average of +3.9% a year. Over the whole period it spent 147% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Cornerstone Senior Communities sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 40th percentile, and in the 39th percentile within IA. Charities of a similar size with the same main cause include Orange Audubon Society Inc ($112k), Nisse Preschool & Kids Place ($112k) and Organization of Chinese Americans Inc ($112k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. At year end it held assets of $453k against liabilities of $268k, net assets of $185k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.