Cornerstone Ministries Inc

Analysis

Cornerstone Ministries Inc is a registered charity in United States, based in McKinney, TX. It received its IRS tax-exemption ruling in April 2004, 22 years ago. Its declared purposes cover mental health and crisis intervention, which this site groups under health and saving lives. 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 December 2023, Cornerstone Ministries Inc reported income of $15.2m and spending of $2.3m, leaving 85% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.5m to $15.2m (+906%), an average of +78% a year. The sharpest change came in the year to December 2023, when income rose by 658%. Over the whole period it spent 35% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Cornerstone Ministries Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within TX. Charities of a similar size with the same main cause include Madison St Joseph Health Center ($15.2m), Family of Woodstock Inc ($15.2m) and Family Health Network of Central New York Inc ($15.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 2.7% of the total. At year end it held assets of $21.9m against liabilities of $5.2m, net assets of $16.7m. It reported 27 employees.