Cornerstone Ministries Inc

Analysis

Cornerstone Ministries Inc is a registered charity in United States, based in Hays, KS. It received its IRS tax-exemption ruling in July 1993, 33 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 Ministries Inc reported income of $56k and spending of $37k, leaving 33% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $62k to $56k (-9.7%), an average of -9.7% a year. Over the whole period it spent 51% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Cornerstone Ministries Inc sits at the 24th percentile: it is larger than about 24% of them. Against every charity in United States with reported income it ranks in the 22nd percentile, and in the 19th percentile within KS. Charities of a similar size with the same main cause include Phillips County Ministerial Alliance Inc ($56k), Praxis Center for Church Development ($56k) and Bible Lighthouse Inc ($56k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 62% of the total. At year end it held assets of $1,172 against liabilities of $0, net assets of $1,172.