Cornerstone Renter Equity Inc

Analysis

Cornerstone Renter Equity Inc is a registered charity in United States, based in Cincinnati, OH. It received its IRS tax-exemption ruling in September 1986, 40 years ago. 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 Renter Equity Inc reported income of $889k and spending of $1.1m, spending 119% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $719k to $889k (+24%), an average of +5.5% a year. The sharpest change came in the year to December 2020, when income rose by 26%. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Cornerstone Renter Equity Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 78th percentile within OH. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($889k), Springfield Ambulance Corps Delco Delaware County ($889k) and Western Caucus Foundation ($889k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 72% and program service revenue 25% of the total. Compensation of current officers, directors and key employees was $117k (11% of expenses). Other salaries and wages came to $284k. At year end it held assets of $5.2m against liabilities of $2.3m, net assets of $3.0m. It reported 6 employees.