Cornerstone Christian Academy of McLean County Inc

Analysis

Cornerstone Christian Academy of McLean County Inc is a registered charity in United States, based in Bloomington, IL. It received its IRS tax-exemption ruling in October 1997, 29 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Cornerstone Christian Academy of McLean County Inc reported income of $5.2m and spending of $4.8m, spending 92% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $3.2m to $5.2m (+62%), an average of +10% a year. The sharpest change came in the year to June 2023, when income rose by 43%. Over the whole period it spent 88% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cornerstone Christian Academy of McLean County Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within IL. Charities of a similar size with the same main cause include Ofl-Duarte Inc ($5.2m), University of Cincinnati Research Institute ($5.2m) and Delta School ($5.2m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 18% and program service revenue 81% of the total. Compensation of current officers, directors and key employees was $75k (1.6% of expenses). Other salaries and wages came to $3.4m. At year end it held assets of $9.1m against liabilities of $316k, net assets of $8.7m. It reported 126 employees.