Cornerstone Community Action Agency Inc

Analysis

Cornerstone Community Action Agency Inc is a registered charity in United States, based in Coleman, TX. It received its IRS tax-exemption ruling in November 1966, 60 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 Community Action Agency Inc reported income of $11.3m and spending of $9.9m, spending 87% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $6.5m to $11.3m (+74%), an average of +15% a year. The sharpest change came in the year to December 2022, when income rose by 37%. Over the whole period it spent 90% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Cornerstone Community Action Agency 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 TX. Charities of a similar size with the same main cause include Grand Farm Research and Education Initiative Inc ($11.3m), Caringworks Inc ($11.3m) and Northeast Center for Youth and Families Inc ($11.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% and program service revenue 8.2% of the total. Compensation of current officers, directors and key employees was $180k (1.8% of expenses). Other salaries and wages came to $4.8m. At year end it held assets of $6.4m against liabilities of $745k, net assets of $5.7m. It reported 207 employees.