Cornerstone Christian Academy

Analysis

Cornerstone Christian Academy is a registered charity in United States, based in Abingdon, VA. It received its IRS tax-exemption ruling in January 2011, 15 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 June 2023, Cornerstone Christian Academy reported income of $2.4m and spending of $2.1m, spending 90% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.8m to $2.4m (+36%), an average of +7.9% a year. Over the whole period it spent 90% 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 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within VA. Charities of a similar size with the same main cause include Kpa Ministries Inc ($2.4m), Sycamore Creek Community Charter School ($2.4m) and Dental Foundation of North Carolina Inc Dr John C Brauer ($2.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 27% and program service revenue 73% of the total. Other salaries and wages came to $1.4m. At year end it held assets of $1.9m against liabilities of $710k, net assets of $1.2m. It reported 64 employees.