Cornerstone Academy Community School

Analysis

Cornerstone Academy Community School is a registered charity in United States, based in Westerville, OH. It received its IRS tax-exemption ruling in September 2000, 26 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 Academy Community School reported income of $12.6m and spending of $13.3m, spending 106% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $7.0m to $12.6m (+80%), an average of +16% a year. The sharpest change came in the year to June 2020, when income rose by 23%. Over the whole period it spent 89% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cornerstone Academy Community School sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within OH. Charities of a similar size with the same main cause include Ma Maritime Academy Foundation Inc ($12.6m), Governors Rural Education Foundation ($12.6m) and Urban Strategies Inc ($12.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $4.0m. At year end it held assets of $22.9m against liabilities of $21.5m, net assets of $1.4m.