Cornerstone FH Charitable Foundation

Analysis

Cornerstone FH Charitable Foundation is a registered charity in United States, based in Cornwall, NY. It received its IRS tax-exemption ruling in August 2018, 8 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Cornerstone FH Charitable Foundation reported income of $677k and spending of $114k, leaving 83% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income fell from $14.3m to $677k (-95%), an average of -78% a year. The sharpest change came in the year to December 2023, when income rose by 115%. Over the whole period it spent 1.4% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Cornerstone FH Charitable Foundation sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 70th percentile within NY. Charities of a similar size with the same main cause include Feeding Empty Little Tummies Inc ($677k), Rising Against All Odds Inc ($677k) and I Love My Island Inc ($677k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 44% of the total. At year end it held assets of $16.7m against liabilities of $101k, net assets of $16.6m.