Cornerstone Community Development Corporation NFP

Analysis

Cornerstone Community Development Corporation NFP is a registered charity in United States, based in Ford Heights, IL. It received its IRS tax-exemption ruling in October 1968, 58 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 June 2022, Cornerstone Community Development Corporation NFP reported income of $2.7m and spending of $1.8m, leaving 33% of income unspent that year. Across the 3 years on record, from June 2019 to June 2022, income grew from $1.1m to $2.7m (+151%), an average of +58% a year. The sharpest change came in the year to June 2022, when income rose by 69%. Over the whole period it spent 73% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Cornerstone Community Development Corporation NFP sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within IL. Charities of a similar size with the same main cause include Share Foundation with the Handicapped Inc ($2.7m), Vision Loss Resources Inc ($2.7m) and Catholic Cemeteries of Spokane ($2.7m).

On its Form 990 for the period ending June 2022, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $328k (18% of expenses). Other salaries and wages came to $413k. At year end it held assets of $3.8m against liabilities of $85k, net assets of $3.8m. It reported 14 employees.