Cornerstone Charter Academy Inc

Analysis

Cornerstone Charter Academy Inc is a registered charity in United States, based in Miami, FL. It received its IRS tax-exemption ruling in September 2011, 15 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Cornerstone Charter Academy Inc reported income of $17.9m and spending of $17.1m, spending 96% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $12.4m to $17.9m (+45%), an average of +9.7% a year. The sharpest change came in the year to June 2023, when income rose by 19%. Over the whole period it spent 95% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cornerstone Charter Academy Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within FL. Charities of a similar size with the same main cause include Capitol Technology University ($17.9m), Ypi Charter Schools Inc ($17.9m) and Lowell School Inc ($17.9m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 94% of the total. Other salaries and wages came to $9.5m. At year end it held assets of $56.3m against liabilities of $45.8m, net assets of $10.5m. It reported 161 employees.