Cornerstone Schools of Alabama Inc

Analysis

Cornerstone Schools of Alabama Inc is a registered charity in United States, based in Birmingham, AL. It received its IRS tax-exemption ruling in February 1988, 38 years ago. 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 July 2023, Cornerstone Schools of Alabama Inc reported income of $9.9m and spending of $7.7m, leaving 23% of income unspent that year. Across the 5 years on record, from July 2019 to July 2023, income grew from $6.4m to $9.9m (+55%), an average of +12% a year. The sharpest change came in the year to July 2023, when income rose by 26%. Over the whole period it spent 85% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Cornerstone Schools of Alabama Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 97th percentile within AL. Charities of a similar size with the same main cause include Piedmont Liability Trust ($9.9m), Yad Yisroel Inc ($9.9m) and Hudson Milestones Inc ($9.9m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 91% and program service revenue 8.2% of the total. Compensation of current officers, directors and key employees was $264k (3.4% of expenses). At year end it held assets of $15.4m against liabilities of $1.1m, net assets of $14.3m. It reported 177 employees.