Collin County Cornerstone Christian Academy

Analysis

Collin County Cornerstone Christian Academy is a registered charity in United States, based in McKinney, TX. It received its IRS tax-exemption ruling in December 2004, 22 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 July 2023, Collin County Cornerstone Christian Academy reported income of $4.1m and spending of $3.2m, leaving 22% of income unspent that year. Across the 5 years on record, from July 2019 to July 2023, income grew from $2.5m to $4.1m (+65%), an average of +13% a year. The sharpest change came in the year to July 2022, when income rose by 52%. Over the whole period it spent 85% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Collin County Cornerstone Christian Academy sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 93rd percentile within TX. Charities of a similar size with the same main cause include Ridgecrest Charter School ($4.1m), West Hills Christian School ($4.1m) and Nonprofit New School of Northern Virginia Inc ($4.1m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 20% and program service revenue 79% of the total. Compensation of current officers, directors and key employees was $90k (2.8% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $4.5m against liabilities of $634k, net assets of $3.9m. It reported 72 employees.