The Cornerstone Christian Academy

Analysis

The Cornerstone Christian Academy is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in October 1988, 38 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, The Cornerstone Christian Academy reported income of $4.7m and spending of $4.5m, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.2m to $4.7m (+11%), an average of +2.7% a year. The sharpest change came in the year to June 2022, when income rose by 71%. Over the whole period it spent 76% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, The Cornerstone Christian Academy sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 90th percentile within PA. Charities of a similar size with the same main cause include Columbus Metropolitan Library Foundation ($4.7m), College Houses ($4.7m) and Loyola Academy of St Louis ($4.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 63% and program service revenue 34% of the total. Compensation of current officers, directors and key employees was $294k (6.5% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $8.0m against liabilities of $230k, net assets of $7.8m. It reported 58 employees.