Cornerstone Outreach Ministries Inc

Analysis

Cornerstone Outreach Ministries Inc is a registered charity in United States, based in Avondale, AZ. It received its IRS tax-exemption ruling in September 2015, 11 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 Outreach Ministries Inc reported income of $1.1m and spending of $894k, leaving 22% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $629k to $1.1m (+81%), an average of +16% a year. The sharpest change came in the year to December 2022, when income rose by 31%. Over the whole period it spent 87% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Cornerstone Outreach Ministries Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 78th percentile within AZ. Charities of a similar size with the same main cause include BSF Global Impact Corp ($1.1m), Strategic Alliance Ministries International ($1.1m) and Cedar Bay Camp and Retreat Center Inc ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 23% and program service revenue 77% of the total. Compensation of current officers, directors and key employees was $55k (6.2% of expenses). Other salaries and wages came to $488k. At year end it held assets of $700k against liabilities of $1,852, net assets of $698k. It reported 39 employees.