Cornerstone Rescue Mission Foundation Inc

Analysis

Cornerstone Rescue Mission Foundation Inc is a registered charity in United States, based in Rapid City, SD. It received its IRS tax-exemption ruling in January 2013, 13 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 Rescue Mission Foundation Inc reported income of $227k and spending of $6,341, leaving 97% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $27k to $227k (+756%), an average of +71% a year. The sharpest change came in the year to December 2023, when income rose by 3511%. Over the whole period it spent 25% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Cornerstone Rescue Mission Foundation Inc sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 54th percentile within SD. Charities of a similar size with the same main cause include Samaritans Closet & Pantry ($227k), Coalition of Powhatan Churches ($227k) and Cleveland Care Center ($227k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 68% of the total. At year end it held assets of $1.2m against liabilities of $0, net assets of $1.2m.