Cornerstone Family Ministries Inc

Analysis

Cornerstone Family Ministries Inc is a registered charity in United States, based in Tampa, FL. It received its IRS tax-exemption ruling in October 1977, 49 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 September 2023, Cornerstone Family Ministries Inc reported income of $8.6m and spending of $8.4m, spending 97% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $7.3m to $8.6m (+18%), an average of +4.2% a year. The sharpest change came in the year to September 2022, when income rose by 58%. Over the whole period it spent 88% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Cornerstone Family Ministries Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within FL. Charities of a similar size with the same main cause include Heritage Ministries Management Company Inc ($8.6m), Girls Haven ($8.6m) and Marion-Dillon County Board of Disabilities and Special Needs ($8.6m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 95% and program service revenue 1.6% of the total. Compensation of current officers, directors and key employees was $205k (2.4% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $8.9m against liabilities of $1.1m, net assets of $7.9m. It reported 48 employees.