Cornerstone Assistance Network Inc

Analysis

Cornerstone Assistance Network Inc is a registered charity in United States, based in Fort Worth, TX. It received its IRS tax-exemption ruling in October 1992, 34 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, Cornerstone Assistance Network Inc reported income of $4.9m and spending of $6.1m, spending 125% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.4m to $4.9m (+11%), an average of +2.6% a year. The sharpest change came in the year to December 2022, when income rose by 84%. Over the whole period it spent 89% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Cornerstone Assistance Network Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 94th percentile within TX. Charities of a similar size with the same main cause include Eworks Electronics Services Inc ($4.9m), Ecumenical Senior Center ($4.9m) and Avail NYC ($4.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 69% and program service revenue 5.4% of the total. Compensation of current officers, directors and key employees was $230k (3.7% of expenses). At year end it held assets of $8.6m against liabilities of $435k, net assets of $8.1m. It reported 47 employees.