Cornerstone Assistance Network of North Central Texas

Analysis

Cornerstone Assistance Network of North Central Texas is a registered charity in United States, based in Prosper, TX. It received its IRS tax-exemption ruling in August 2010, 16 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 December 2023, Cornerstone Assistance Network of North Central Texas reported income of $627k and spending of $756k, spending 121% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $593k to $627k (+5.8%), an average of +1.4% a year. The sharpest change came in the year to December 2022, when income rose by 58%. Over the whole period it spent 98% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Cornerstone Assistance Network of North Central Texas sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 78th percentile within TX. Charities of a similar size with the same main cause include Catalyst Intl Vision Inc ($627k), Masonicare at Mystic Inc ($627k) and Defensoria Nicaraguense de Derechos Humanos Inc ($627k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 48% of the total. Other salaries and wages came to $222k. At year end it held assets of $308k against liabilities of $58k, net assets of $250k. It reported 22 employees.