Cornerstone Hospice & Palliative Care Inc

Analysis

Cornerstone Hospice & Palliative Care Inc is a registered charity in United States, based in Temple Terr, FL. It received its IRS tax-exemption ruling in March 1985, 41 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Cornerstone Hospice & Palliative Care Inc reported income of $85.5m and spending of $85.6m, spending 100% of its income. Across the 6 years on record, from September 2019 to December 2023, income fell from $98.2m to $85.5m (-13%), an average of -2.7% a year. The sharpest change came in the year to December 2023, when income rose by 315%. Over the whole period it spent 94% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Cornerstone Hospice & Palliative Care Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within FL. Charities of a similar size with the same main cause include Detroit Area Agency on Aging ($85.4m), Hospice of the Bluegrass Inc ($85.6m) and Second Harvest Food Bank of Greater New Orleans and Acadiana ($85.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.8% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $637k (0.7% of expenses). Other salaries and wages came to $46.5m. At year end it held assets of $67.5m against liabilities of $14.2m, net assets of $53.3m. It reported 716 employees.