Cornerstone Community Development Corporation Inc

Analysis

Cornerstone Community Development Corporation Inc is a registered charity in United States, based in Dallas, TX. It received its IRS tax-exemption ruling in May 1996, 30 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 Community Development Corporation Inc reported income of $732k and spending of $721k, spending 99% of its income. Across the 4 years on record, from December 2019 to December 2023, income grew from $565k to $732k (+30%), an average of +9.0% a year. The sharpest change came in the year to December 2023, when income rose by 39%. Over the whole period it spent 76% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Cornerstone Community Development Corporation Inc sits at the 71st percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 80th percentile within TX. Charities of a similar size with the same main cause include Rappahannock Pantry Inc ($732k), Wheels of Success Inc ($732k) and Community Care and Learning Center ($732k).

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 $71k (9.8% of expenses). Other salaries and wages came to $14k. At year end it held assets of $78k against liabilities of $0, net assets of $78k.