Cornerstone Christian Academy

Analysis

Cornerstone Christian Academy is a registered charity in United States, based in Granbury, TX. It received its IRS tax-exemption ruling in January 2001, 25 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending May 2024, Cornerstone Christian Academy reported income of $2.2m and spending of $2.4m, spending 113% of what it took in. Across the 6 years on record, from May 2019 to May 2024, income grew from $1.5m to $2.2m (+44%), an average of +7.5% a year. The sharpest change came in the year to May 2023, when income rose by 48%. Over the whole period it spent 100% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cornerstone Christian Academy sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 90th percentile within TX. Charities of a similar size with the same main cause include Educating Children Matters Inc ($2.2m), New York School of the Arts Inc ($2.2m) and Springwater Environmental Sciencesschool ($2.2m).

On its Form 990 for the period ending May 2024, revenue came from contributions and grants 8.9% and program service revenue 87% of the total. Other salaries and wages came to $1.5m. At year end it held assets of $3.1m against liabilities of $2.5m, net assets of $611k. It reported 60 employees.