Cornerstone Corporation

Analysis

Cornerstone Corporation is a registered charity in United States, based in Saint Louis, MO. It received its IRS tax-exemption ruling in November 1977, 49 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 Corporation reported income of $507k and spending of $637k, spending 126% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $497k to $507k (+2.0%), an average of +0.5% a year. The sharpest change came in the year to December 2021, when income rose by 99%. Over the whole period it spent 74% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Cornerstone Corporation sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 68th percentile within MO. Charities of a similar size with the same main cause include Long Hill Township Community Housing Development Corp ($507k), Greater Stonington Realty Corporation ($507k) and Hall Commons Inc ($507k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 58% and program service revenue 42% of the total. Compensation of current officers, directors and key employees was $93k (15% of expenses). Other salaries and wages came to $74k. At year end it held assets of $1.2m against liabilities of $210k, net assets of $970k. It reported 3 employees.