Cornerstone Family Ministries

Analysis

Cornerstone Family Ministries is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in August 2008, 18 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 May 2023, Cornerstone Family Ministries reported income of $466k and spending of $481k, spending 103% of its income. Across the 5 years on record, from May 2019 to May 2023, income grew from $396k to $466k (+18%), an average of +4.1% a year. The sharpest change came in the year to May 2022, when income rose by 40%. Over the whole period it spent 100% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Cornerstone Family Ministries sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 74th percentile within TX. Charities of a similar size with the same main cause include Willow Springs Boys Ranch Inc ($466k), Anchorage Remade ($466k) and House of Grace ($466k).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 95% and program service revenue 4.2% of the total. Compensation of current officers, directors and key employees was $70k (14% of expenses). Other salaries and wages came to $189k. At year end it held assets of $362k against liabilities of $147k, net assets of $215k. It reported 9 employees.