Cornerstone Folsom Gardens Corporation I

Analysis

Cornerstone Folsom Gardens Corporation I is a registered charity in United States, based in Denver, CO. It received its IRS tax-exemption ruling in May 1995, 31 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 December 2023, Cornerstone Folsom Gardens Corporation I reported income of $673k and spending of $547k, spending 81% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $541k to $673k (+25%), an average of +5.6% a year. Over the whole period it spent 92% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Cornerstone Folsom Gardens Corporation I sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 73rd percentile within CO. Charities of a similar size with the same main cause include Food for All Inc ($673k), Barefield Development Corporation ($673k) and Providence Place Inc ($673k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 49% and program service revenue 44% of the total. At year end it held assets of $1.5m against liabilities of $58k, net assets of $1.5m.