Cornerstone Assisted Living of Plymouth Inc

Analysis

Cornerstone Assisted Living of Plymouth Inc is a registered charity in United States, based in Edina, MN. It received its IRS tax-exemption ruling in May 2002, 24 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Cornerstone Assisted Living of Plymouth Inc reported income of $4.6m and spending of $4.4m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $4.7m to $4.6m (-3.8%), an average of -1.0% a year. Over the whole period it spent 88% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Cornerstone Assisted Living of Plymouth Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 91st percentile within MN. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($4.6m), Shreveport Leased Housing Corporation ($4.6m) and Apna Ghar Inc Our Home ($4.6m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 97% of the total. Other salaries and wages came to $2.3m. At year end it held assets of $10.2m against liabilities of $280k, net assets of $9.9m. It reported 101 employees.