Cornerstone Christian Academy

Analysis

Cornerstone Christian Academy is a registered charity in United States, based in Rainsville, AL. It received its IRS tax-exemption ruling in July 2002, 24 years ago. Its declared purposes cover education, which this site groups under education and training. 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 2023, Cornerstone Christian Academy reported income of $3.0m and spending of $2.7m, spending 89% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.8m to $3.0m (+68%), an average of +19% a year. The sharpest change came in the year to June 2021, when income rose by 109%. Over the whole period it spent 83% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cornerstone Christian Academy sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 92nd percentile within AL. Charities of a similar size with the same main cause include University of Idaho Strategic Initiatives Fund Inc ($3.0m), Sage Eldercare Inc ($3.0m) and Eastern Allegheny Council for Human Services Incorporated ($3.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 14% and program service revenue 88% of the total. Other salaries and wages came to $1.4m. At year end it held assets of $5.9m against liabilities of $3.7m, net assets of $2.2m. It reported 133 employees.