Cornerstone Schools of Washington DC Inc

Analysis

Cornerstone Schools of Washington DC Inc is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in November 1998, 28 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Cornerstone Schools of Washington DC Inc reported income of $3.1m and spending of $3.4m, spending 108% of what it took in. Across the 5 years on record, from July 2019 to June 2023, income grew from $2.2m to $3.1m (+42%), an average of +9.1% a year. The sharpest change came in the year to June 2023, when income rose by 15%. Over the whole period it spent 103% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cornerstone Schools of Washington DC Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 74th percentile within DC. Charities of a similar size with the same main cause include Society of Economics Geologists Inc ($3.1m), New Jersey Seeds Inc ($3.1m) and Visual Effects Society ($3.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 48% and program service revenue 52% of the total. Compensation of current officers, directors and key employees was $203k (6.0% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $2.7m against liabilities of $2.3m, net assets of $390k. It reported 49 employees.