The Cornerstone Foundation Incorporated

Analysis

The Cornerstone Foundation Incorporated is a registered charity in United States, based in Vernon, CT. It received its IRS tax-exemption ruling in July 1985, 41 years ago. 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, The Cornerstone Foundation Incorporated reported income of $2.9m and spending of $2.9m, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.3m to $2.9m (+123%), an average of +22% a year. The sharpest change came in the year to December 2021, when income rose by 40%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Cornerstone Foundation Incorporated sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 87th percentile within CT. Charities of a similar size with the same main cause include Choices Womens Clinic Inc ($2.9m), American Finance Association ($2.9m) and Neighbors for a Better San Francisco ($2.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $621k. At year end it held assets of $721k against liabilities of $262k, net assets of $459k. It reported 41 employees.