Cornerstone Christian Academy Inc

Analysis

Cornerstone Christian Academy Inc is a registered charity in United States, based in Charleston, 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 Inc reported income of $1.6m and spending of $1.5m, spending 89% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $862k to $1.6m (+90%), an average of +17% a year. The sharpest change came in the year to June 2021, when income rose by 70%. Over the whole period it spent 94% 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 Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 84th percentile within IL. Charities of a similar size with the same main cause include One Camden Inc ($1.6m), Waldorf Education Association of ($1.6m) and The Hawthorn School Inc ($1.6m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 13% and program service revenue 86% of the total. Compensation of current officers, directors and key employees was $100k (6.9% of expenses). Other salaries and wages came to $904k. At year end it held assets of $865k against liabilities of $9,062, net assets of $855k. It reported 57 employees.