Cornerstone Foundation Inc

Analysis

Cornerstone Foundation Inc is a registered charity in United States, based in Des Plaines, IL. It received its IRS tax-exemption ruling in April 1988, 38 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Cornerstone Foundation Inc reported income of $1.9m and spending of $688k, leaving 63% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $514k to $1.9m (+266%), an average of +54% a year. The sharpest change came in the year to June 2022, when income rose by 182%. Over the whole period it spent 49% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Cornerstone Foundation Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within IL. Charities of a similar size with the same main cause include Friends of Berston ($1.9m), Three Birds Alliance ($1.9m) and Care Net Pregnancy Center of Dane County Inc ($1.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 74% of the total. At year end it held assets of $24.5m against liabilities of $459k, net assets of $24.1m.