Cornerstone Preparatory Academy

Analysis

Cornerstone Preparatory Academy is a registered charity in United States, based in Acworth, GA. It received its IRS tax-exemption ruling in June 2004, 22 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 Preparatory Academy reported income of $3.8m and spending of $3.6m, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.5m to $3.8m (+7.9%), an average of +1.9% a year. Over the whole period it spent 90% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cornerstone Preparatory Academy sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 92nd percentile within GA. Charities of a similar size with the same main cause include Hope Academy Northwest Campus ($3.8m), Southern Maryland Regional Library Association Inc ($3.8m) and Montessori Elementary at Highland Park ($3.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.3% and program service revenue 97% of the total. Other salaries and wages came to $1.8m. At year end it held assets of $12.0m against liabilities of $6.9m, net assets of $5.1m. It reported 83 employees.