Cornerstone Studios Limited

Analysis

Cornerstone Studios Limited is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in September 2015, 11 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 (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 Studios Limited reported income of $86k and spending of $92k, spending 107% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $71k to $86k (+20%), an average of +20% a year. The sharpest change came in the year to December 2023, when income rose by 20%. Over the whole period it spent 106% 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 Studios Limited sits at the 37th percentile: it is larger than about 37% of them. Against every charity in United States with reported income it ranks in the 33rd percentile, and in the 33rd percentile within NY. Charities of a similar size with the same main cause include Italian American Heritage Club of Hunterdon County Foundation Inc ($86k), Living Room Collective ($86k) and Brices Crossroads National Battlefield Commission Inc ($86k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 0.6% of the total. At year end it held assets of $11k against liabilities of $3,872, net assets of $6,759.