FC Cornerstone Christian Academy

Analysis

FC Cornerstone Christian Academy is a registered charity in United States, based in Sugar Land, TX. It received its IRS tax-exemption ruling in October 2003, 23 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, FC Cornerstone Christian Academy reported income of $5.7m and spending of $4.9m, spending 86% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.9m to $5.7m (+16%), an average of +3.7% a year. The sharpest change came in the year to June 2022, when income rose by 83%. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, FC Cornerstone Christian Academy sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 95th percentile within TX. Charities of a similar size with the same main cause include Rainier Prep ($5.7m), Near Eastside Innovation School Corp ($5.7m) and The Sae School Inc ($5.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 23% and program service revenue 76% of the total. Compensation of current officers, directors and key employees was $256k (5.2% of expenses). Other salaries and wages came to $2.4m. At year end it held assets of $7.3m against liabilities of $2.7m, net assets of $4.5m. It reported 102 employees.