Cornerstone Broadcasting Corporation

Analysis

Cornerstone Broadcasting Corporation is a registered charity in United States, based in Port Orange, FL. It received its IRS tax-exemption ruling in June 1995, 31 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 December 2023, Cornerstone Broadcasting Corporation reported income of $460k and spending of $476k, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $400k to $460k (+15%), an average of +3.6% a year. Over the whole period it spent 102% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Cornerstone Broadcasting Corporation sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 72nd percentile within FL. Charities of a similar size with the same main cause include JPT Movement Inc ($460k), Long Beach Church Collective ($460k) and Al Firdaus Foundation ($460k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $66k (14% of expenses). Other salaries and wages came to $122k. At year end it held assets of $1.0m against liabilities of $182k, net assets of $839k. It reported 3 employees.