Cornerstones of Science

Analysis

Cornerstones of Science is a registered charity in United States, based in Brunswick, ME. It received its IRS tax-exemption ruling in May 2011, 15 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 June 2023, Cornerstones of Science reported income of $249k and spending of $262k, spending 105% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $396k to $249k (-37%), an average of -14% a year. The sharpest change came in the year to June 2021, when income dropped by 36%. Over the whole period it spent 103% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cornerstones of Science sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 52nd percentile within ME. Charities of a similar size with the same main cause include National Center for Fair & Open Testing Inc ($249k), CVHS Band Booster Organization ($249k) and Northeast Minneapolis Tool Library ($249k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% and program service revenue 0.1% of the total. Compensation of current officers, directors and key employees was $62k (24% of expenses). At year end it held assets of $175k against liabilities of $33k, net assets of $142k. It reported 2 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.