Cornerstone Care Inc

Analysis

Cornerstone Care Inc is a registered charity in United States, based in Greensboro, PA. It received its IRS tax-exemption ruling in April 1979, 47 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a hospital or medical research organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2023, Cornerstone Care Inc reported income of $23.0m and spending of $22.2m, spending 96% of its income. Across the 5 years on record, from March 2019 to March 2023, income grew from $15.3m to $23.0m (+50%), an average of +11% a year. The sharpest change came in the year to March 2021, when income rose by 27%. Over the whole period it spent 94% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Cornerstone Care Inc 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 97th percentile, and in the 97th percentile within PA. Charities of a similar size with the same main cause include Los Angeles Christian Health Centers ($23.0m), Molokai General Hospital ($23.0m) and Arnot Medical Services PLLC ($23.0m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 33% and program service revenue 66% of the total. Compensation of current officers, directors and key employees was $283k (1.3% of expenses). Other salaries and wages came to $11.3m. At year end it held assets of $20.6m against liabilities of $6.5m, net assets of $14.1m. It reported 271 employees.