Cornerstone of Topeka Inc

Analysis

Cornerstone of Topeka Inc is a registered charity in United States, based in Topeka, KS. It received its IRS tax-exemption ruling in April 1987, 39 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 of Topeka Inc reported income of $1.6m and spending of $1.2m, leaving 24% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.5m to $1.6m (+2.9%), an average of +0.7% a year. The sharpest change came in the year to December 2021, when income rose by 56%. Over the whole period it spent 73% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Cornerstone of Topeka Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 84th percentile within KS. Charities of a similar size with the same main cause include FSL Rural Development ($1.6m), Heritage Haven Inc ($1.6m) and Springboard Collaborative Inc ($1.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 35% and program service revenue 64% of the total. Compensation of current officers, directors and key employees was $107k (8.9% of expenses). Other salaries and wages came to $260k. At year end it held assets of $10.2m against liabilities of $2.3m, net assets of $7.9m. It reported 8 employees.