Cornerstone Restoration

Analysis

Cornerstone Restoration is a registered charity in United States, based in Austin, TX. It received its IRS tax-exemption ruling in August 2021, 5 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 Restoration reported income of $369k and spending of $344k, spending 93% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $312k to $369k (+18%), an average of +8.8% a year. Over the whole period it spent 86% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Cornerstone Restoration sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 70th percentile within TX. Charities of a similar size with the same main cause include Oceanside Police Officers Association Foundation ($369k), North Central Texas Interlink Inc ($370k) and Pharr Economic Development Corporation Foundation ($369k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $167k (49% of expenses). Other salaries and wages came to $19k. At year end it held assets of $139k against liabilities of $0, net assets of $139k. It reported 5 employees.