Cornerstone Senior Communities of Remsen

Analysis

Cornerstone Senior Communities of Remsen is a registered charity in United States, based in Sutherland, IA. It received its IRS tax-exemption ruling in January 2007, 19 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 of Remsen reported income of $5.8m and spending of $5.4m, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.7m to $5.8m (+23%), an average of +5.4% a year. The sharpest change came in the year to December 2023, when income rose by 20%. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Cornerstone Senior Communities of Remsen sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within IA. Charities of a similar size with the same main cause include Family Option Inc ($5.8m), Foundation for Lutheran Child and Family Services Indiana Inc ($5.8m) and Crisis Control Ministry Inc ($5.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.4% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $60k (1.1% of expenses). Other salaries and wages came to $2.4m. At year end it held assets of $4.1m against liabilities of $2.0m, net assets of $2.1m. It reported 130 employees.