Cornerstone Community Housing Inc

Analysis

Cornerstone Community Housing Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in June 1994, 32 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 Community Housing Inc reported income of $573k and spending of $733k, spending 128% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $522k to $573k (+9.7%), an average of +2.4% a year. The sharpest change came in the year to December 2021, when income rose by 45%. Over the whole period it spent 106% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Cornerstone Community Housing Inc sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 71st percentile within MD. Charities of a similar size with the same main cause include Over the Rainbow Unit II ($573k), Assisi Homes - Lasalle Manor Inc ($574k) and Lancaster RHF Housing Inc ($573k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 67% and program service revenue 31% of the total. Compensation of current officers, directors and key employees was $65k (8.9% of expenses). Other salaries and wages came to $241k. At year end it held assets of $3.1m against liabilities of $1.5m, net assets of $1.5m. It reported 10 employees.