Cornerstone Child Care Center

Analysis

Cornerstone Child Care Center is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in April 1998, 28 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 2024, Cornerstone Child Care Center reported income of $1.6m and spending of $1.7m, spending 107% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income fell from $2.0m to $1.6m (-22%), an average of -4.8% a year. The sharpest change came in the year to June 2020, when income dropped by 24%. Over the whole period it spent 102% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Cornerstone Child Care Center sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 83rd percentile within IL. Charities of a similar size with the same main cause include West Elmwood Housing Development Corp ($1.6m), Children First Community Homes and Services Inc ($1.6m) and Spartan Housing Cooperative Inc ($1.6m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 13% and program service revenue 87% of the total. Compensation of current officers, directors and key employees was $99k (5.9% of expenses). At year end it held assets of $608k against liabilities of $186k, net assets of $423k. It reported 1 employees.