Cornerstone Foundation

Analysis

Cornerstone Foundation is a registered charity in United States, based in Biloxi, MS. It received its IRS tax-exemption ruling in April 1994, 32 years ago. Its declared purposes cover international, foreign affairs and national security, which this site groups under overseas aid and international. The IRS classifies it as a hospital or medical research organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Cornerstone Foundation reported income of $792k and spending of $691k, spending 87% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.0m to $792k (-22%), an average of -5.9% a year. The sharpest change came in the year to December 2022, when income dropped by 21%. Over the whole period it spent 84% of the income it received.

Among 10,317 United States charities whose main cause is overseas aid and international and that reported income, Cornerstone Foundation sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 78th percentile within MS. Charities of a similar size with the same main cause include Nishimura Global Peace Inc ($790k), Jubilee Centers International ($793k) and Japan Center for International Exchange Inc ($790k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $86k (12% of expenses). Other salaries and wages came to $74k. At year end it held assets of $2.3m against liabilities of $45k, net assets of $2.3m. It reported 5 employees.