Commonwealth Cornerstone Group

Analysis

Commonwealth Cornerstone Group is a registered charity in United States, based in Harrisburg, PA. It received its IRS tax-exemption ruling in January 2010, 16 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Commonwealth Cornerstone Group reported income of $33.0m and spending of $433k, leaving 99% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.3m to $33.0m (+1308%), an average of +94% a year. The sharpest change came in the year to June 2022, when income rose by 344%. Over the whole period it spent 5.0% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Commonwealth Cornerstone Group sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within PA. Charities of a similar size with the same main cause include Economic Opportunity Council of Suffolk Inc ($32.8m), Calvert Impact Capital Inc ($33.4m) and Alliance Member Services Inc ($32.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 93% and program service revenue 6.9% of the total. Other salaries and wages came to $156k. At year end it held assets of $74.4m against liabilities of $6.3m, net assets of $68.1m.