Cornerstone Outreach Center of Ama Inc

Analysis

Cornerstone Outreach Center of Ama Inc is a registered charity in United States, based in Amarillo, TX. It received its IRS tax-exemption ruling in January 1998, 28 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 Outreach Center of Ama Inc reported income of $400k and spending of $399k, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $59k to $400k (+574%), an average of +61% a year. The sharpest change came in the year to December 2022, when income rose by 12734%. Over the whole period it spent 178% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Cornerstone Outreach Center of Ama Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 71st percentile within TX. Charities of a similar size with the same main cause include American Friends of Chasdei Lev ($400k), Innerlight Ministries Inc ($400k) and Broken But Not Shattered Ministry ($400k).

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 $72k (18% of expenses). At year end it held assets of $413k against liabilities of $413k, net assets of $437.