Cornerstone Mandarin Center

Analysis

Cornerstone Mandarin Center is a registered charity in United States, based in Palo Alto, CA. It received its IRS tax-exemption ruling in June 2014, 12 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 Mandarin Center reported income of $1.1m and spending of $1.1m, spending 101% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $444k to $1.1m (+145%), an average of +35% a year. The sharpest change came in the year to December 2021, when income rose by 169%. Over the whole period it spent 88% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Cornerstone Mandarin Center 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 80th percentile, and in the 81st percentile within CA. Charities of a similar size with the same main cause include Youth Over US Inc ($1.1m), Colorado Springs Conservatory Foundation ($1.1m) and Montana Theatreworks Inc ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $115k (10% of expenses). At year end it held assets of $502k against liabilities of $2,331, net assets of $500k. It reported 17 employees.