Cornerstone Family Programs

Analysis

Cornerstone Family Programs is a registered charity in United States, based in Morristown, NJ. It received its IRS tax-exemption ruling in December 1942, 84 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 December 2023, Cornerstone Family Programs reported income of $6.4m and spending of $6.8m, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.7m to $6.4m (+36%), an average of +7.9% a year. The sharpest change came in the year to December 2021, when income rose by 52%. Over the whole period it spent 101% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Cornerstone Family Programs sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within NJ. Charities of a similar size with the same main cause include Scott County Rest Home Inc ($6.4m), Benevilla ($6.4m) and Nevada Senior Services Inc ($6.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 60% and program service revenue 40% of the total. Compensation of current officers, directors and key employees was $325k (4.8% of expenses). Other salaries and wages came to $3.9m. At year end it held assets of $9.4m against liabilities of $1.0m, net assets of $8.4m. It reported 176 employees.