Cornerstone Project Inc

Analysis

Cornerstone Project Inc is a registered charity in United States, based in Mystic, CT. It received its IRS tax-exemption ruling in April 2009, 17 years ago. Its declared purposes cover education, which this site groups under education and training. 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 2022, Cornerstone Project Inc reported income of $277k and spending of $313k, spending 113% of what it took in. Across the 2 years on record, from December 2019 to December 2022, income grew from $171k to $277k (+62%), an average of +62% a year. The sharpest change came in the year to December 2022, when income rose by 62%. Over the whole period it spent 109% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cornerstone Project Inc sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 57th percentile within CT. Charities of a similar size with the same main cause include Friends of University of Guelph ($277k), Books to Prisoners ($277k) and Wise Foundation ($277k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 97% and program service revenue 3.3% of the total. At year end it held assets of $5,815 against liabilities of $0, net assets of $5,815.