Cornerstone Child Development Center Inc

Analysis

Cornerstone Child Development Center Inc is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in August 2005, 21 years ago. 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 June 2024, Cornerstone Child Development Center Inc reported income of $2.4m and spending of $2.2m, spending 95% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.3m to $2.4m (+76%), an average of +15% a year. The sharpest change came in the year to June 2021, when income rose by 35%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Cornerstone Child Development Center Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within KY. Charities of a similar size with the same main cause include Minnesota State Sheriffs Association Inc ($2.4m), Ascension Seton Williamson Foundation ($2.4m) and Terrapraxis Inc ($2.4m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 11% and program service revenue 88% of the total. Compensation of current officers, directors and key employees was $205k (9.2% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $3.5m against liabilities of $2.5m, net assets of $1.0m. It reported 58 employees.