Cornerstone Community

Analysis

Cornerstone Community is a registered charity in United States, based in Leavenworth, WA. It received its IRS tax-exemption ruling in July 2008, 18 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Cornerstone Community reported income of $358k and spending of $361k, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $271k to $358k (+32%), an average of +7.2% a year. The sharpest change came in the year to December 2020, when income rose by 15%. Over the whole period it spent 101% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Cornerstone Community sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 63rd percentile within WA. Charities of a similar size with the same main cause include The Noble Ninth Inc ($358k), Neighborhood Effort ($358k) and W H Development Corporation ($358k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. Other salaries and wages came to $197k. At year end it held assets of $942k against liabilities of $7,328, net assets of $935k. It reported 8 employees.