Cornerstone Private School Inc

Analysis

Cornerstone Private School Inc is a registered charity in United States, based in Wolcott, IN. It received its IRS tax-exemption ruling in November 2001, 25 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 July 2023, Cornerstone Private School Inc reported income of $195k and spending of $203k, spending 104% of its income. Across the 5 years on record, from July 2019 to July 2023, income grew from $172k to $195k (+13%), an average of +3.2% a year. The sharpest change came in the year to July 2023, when income rose by 16%. Over the whole period it spent 106% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cornerstone Private School Inc sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 52nd percentile within IN. Charities of a similar size with the same main cause include Media in the Public Interest Inc ($195k), Marshall Mustang Organization ($195k) and Sonflower Christian Preschool Inc ($195k).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 95% and program service revenue 1.8% of the total. Other salaries and wages came to $157k. At year end it held assets of $426k against liabilities of $0, net assets of $426k. It reported 7 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.