The Cornerstone Bible College and Seminary

Analysis

The Cornerstone Bible College and Seminary is a registered charity in United States, based in Vallejo, CA. It received its IRS tax-exemption ruling in March 2005, 21 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 2024, The Cornerstone Bible College and Seminary reported income of $308k and spending of $311k, spending 101% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $218k to $308k (+41%), an average of +9.1% a year. The sharpest change came in the year to June 2021, when income rose by 42%. Over the whole period it spent 99% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, The Cornerstone Bible College and Seminary 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 62nd percentile, and in the 64th percentile within CA. Charities of a similar size with the same main cause include Little Wonders a Parent-Child Center ($308k), Well Beyond Academics Inc ($308k) and Central Mississippi Down Syndrome Inc ($308k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 38% and program service revenue 62% of the total. Compensation of current officers, directors and key employees was $131k (42% of expenses). Other salaries and wages came to $7,564. At year end it held assets of $39k against liabilities of $11k, net assets of $28k. It reported 22 employees.