Cornerstone Community Outreach

Analysis

Cornerstone Community Outreach is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in July 1975, 51 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 church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Cornerstone Community Outreach reported income of $4.1m and spending of $4.9m, spending 119% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.5m to $4.1m (+16%), an average of +3.8% a year. The sharpest change came in the year to December 2020, when income rose by 35%. Over the whole period it spent 97% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Cornerstone Community Outreach sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within IL. Charities of a similar size with the same main cause include Florissant Valley Sheltered Workshop ($4.1m), Jobs Foundation ($4.1m) and South Carolina Association for Community Economic Development ($4.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $66k (1.4% of expenses). Other salaries and wages came to $2.6m. At year end it held assets of $3.0m against liabilities of $2.8m, net assets of $233k. It reported 90 employees.