Cornerstone Credit Union Foundation

Analysis

Cornerstone Credit Union Foundation is a registered charity in United States, based in Plano, TX. It received its IRS tax-exemption ruling in February 1965, 61 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Cornerstone Credit Union Foundation reported income of $1.7m and spending of $1.5m, spending 92% of its income. Across the 6 years on record, from December 2018 to December 2023, income grew from $1.1m to $1.7m (+52%), an average of +8.8% a year. The sharpest change came in the year to December 2023, when income rose by 29%. Over the whole period it spent 101% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cornerstone Credit Union Foundation 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 84th percentile, and in the 88th percentile within TX. Charities of a similar size with the same main cause include Bitsaa International Inc ($1.7m), Barona Charter School Inc ($1.7m) and Usg United Scientific Group ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 64% and program service revenue 1.8% of the total. Compensation of current officers, directors and key employees was $175k (12% of expenses). Other salaries and wages came to $191k. At year end it held assets of $2.9m against liabilities of $182k, net assets of $2.7m. It reported 5 employees.