Cornerstone Christian School Inc

Analysis

Cornerstone Christian School Inc is a registered charity in United States, based in London, KY. It received its IRS tax-exemption ruling in February 1993, 33 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 2024, Cornerstone Christian School Inc reported income of $744k and spending of $793k, spending 107% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $490k to $744k (+52%), an average of +8.7% a year. The sharpest change came in the year to June 2021, when income rose by 32%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Cornerstone Christian School Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 77th percentile within KY. Charities of a similar size with the same main cause include Sungarden Montessori Center Inc ($744k), Rosswoods Inc ($744k) and Spartanburg County Historical Association Incorporated ($744k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 2.9% and program service revenue 87% of the total. Compensation of current officers, directors and key employees was $101k (13% of expenses). Other salaries and wages came to $417k. At year end it held assets of $235k against liabilities of $68k, net assets of $167k. It reported 29 employees.