The Cornerstone School Inc

Analysis

The Cornerstone School Inc is a registered charity in United States, based in Ocala, FL. It received its IRS tax-exemption ruling in April 1983, 43 years ago. 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, The Cornerstone School Inc reported income of $4.2m and spending of $3.6m, spending 87% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.7m to $4.2m (+52%), an average of +11% a year. The sharpest change came in the year to June 2020, when income rose by 27%. Over the whole period it spent 86% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Cornerstone School Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within FL. Charities of a similar size with the same main cause include Tuff Memorial Home ($4.2m), Arc Rapides Inc ($4.2m) and Merrie Woode Foundation Inc ($4.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 7.6% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $184k (5.1% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $6.8m against liabilities of $2.5m, net assets of $4.4m. It reported 93 employees.