Cornerstone Charter Academy PTO

Analysis

Cornerstone Charter Academy PTO is a registered charity in United States, based in Greensboro, NC. It received its IRS tax-exemption ruling in June 2014, 12 years ago. Its declared purposes cover education, which this site groups under education and training. 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 June 2023, Cornerstone Charter Academy PTO reported income of $453k and spending of $466k, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $350k to $453k (+30%), an average of +6.7% a year. The sharpest change came in the year to June 2022, when income rose by 394%. Over the whole period it spent 102% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cornerstone Charter Academy PTO sits at the 67th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 68th percentile within NC. Charities of a similar size with the same main cause include Family Life Community School Inc ($453k), NW Ar Industries for Education Inc ($453k) and Pia Schools Association ($453k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 97% of the total. At year end it held assets of $32k against liabilities of -$5,310, net assets of $37k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.