Cornerstone Schools Association

Analysis

Cornerstone Schools Association is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in December 1993, 33 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 July 2024, Cornerstone Schools Association reported income of $912k and spending of $1.5m, spending 160% of what it took in. Across the 5 years on record, from July 2020 to July 2024, income fell from $1.3m to $912k (-28%), an average of -7.8% a year. The sharpest change came in the year to July 2022, when income dropped by 25%. Over the whole period it spent 126% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cornerstone Schools Association sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 78th percentile within MI. Charities of a similar size with the same main cause include Henry Carter Hull Library Inc ($912k), Wisconsin Association of School Personnel Administrators ($912k) and William D Ruckelshaus Centerfoundation ($912k).

On its Form 990 for the period ending July 2024, revenue came from contributions and grants 8.2% and program service revenue 92% of the total. At year end it held assets of $7.4m against liabilities of $94k, net assets of $7.3m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.