Cornerstones Inc

Analysis

Cornerstones Inc is a registered charity in United States, based in Reston, VA. It received its IRS tax-exemption ruling in January 1980, 46 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2023, Cornerstones Inc reported income of $15.3m and spending of $16.0m, spending 105% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $10.6m to $15.3m (+44%), an average of +13% a year. The sharpest change came in the year to June 2021, when income rose by 45%. Over the whole period it spent 97% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Cornerstones Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within VA. Charities of a similar size with the same main cause include Yadkin Valley Economic Development District Inc ($15.3m), Feeding Wisconsin Inc ($15.3m) and Nexus Path Family Healing ($15.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 88% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $316k (2.0% of expenses). Other salaries and wages came to $6.3m. At year end it held assets of $9.0m against liabilities of $4.1m, net assets of $4.9m. It reported 209 employees.