Cornerstone Life Development Inc

Analysis

Cornerstone Life Development Inc is a registered charity in United States, based in Syracuse, NY. It received its IRS tax-exemption ruling in September 2006, 20 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 April 2023, Cornerstone Life Development Inc reported income of $74k and spending of $65k, spending 88% of its income. Across the 4 years on record, from April 2020 to April 2023, income grew from $71k to $74k (+4.2%), an average of +1.4% a year. The sharpest change came in the year to April 2022, when income rose by 78%. 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 Life Development Inc sits at the 25th percentile: it is larger than about 25% of them. Against every charity in United States with reported income it ranks in the 29th percentile, and in the 29th percentile within NY. Charities of a similar size with the same main cause include Hudson Ranch L L C ($74k), Monterey Senior Citizens Center ($74k) and Dare to Hope Inc ($74k).

On its Form 990 for the period ending April 2023, revenue came from contributions and grants 77% of the total. At year end it held assets of $488k against liabilities of $0, net assets of $488k.