Cornerstone College of Virginia

Analysis

Cornerstone College of Virginia is a registered charity in United States, based in Spotsylvania, VA. It received its IRS tax-exemption ruling in April 1970, 56 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 2024, Cornerstone College of Virginia reported income of $2.1m and spending of $505k, leaving 76% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $580k to $2.1m (+262%), an average of +38% a year. The sharpest change came in the year to June 2024, when income rose by 1382%. Over the whole period it spent 70% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cornerstone College of Virginia sits at the 83rd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 87th percentile within VA. Charities of a similar size with the same main cause include Evanston Township High School District 202 Educ Foundation ($2.1m), Communities in Schools of East Texas Inc ($2.1m) and American Association of School Personnel Administrators ($2.1m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 5.2% and program service revenue 4.0% of the total. Compensation of current officers, directors and key employees was $99k (20% of expenses). Other salaries and wages came to $147k. At year end it held assets of $1.5m against liabilities of $2,893, net assets of $1.5m. It reported 12 employees.