Cornerstone

Analysis

Cornerstone is a registered charity in United States, based in Frazee, MN. It received its IRS tax-exemption ruling in March 2019, 7 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Cornerstone reported income of $166k and spending of $107k, leaving 36% of income unspent that year. Across the 2 years on record, from June 2022 to June 2023, income fell from $202k to $166k (-18%), an average of -18% a year. The sharpest change came in the year to June 2023, when income dropped by 18%. Over the whole period it spent 40% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Cornerstone sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 47th percentile within MN. Charities of a similar size with the same main cause include Police Athletic League of Lincoln Park Inc ($166k), Positive Energy for Youth ($166k) and Levittown Pride Football & Cheer Inc ($166k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $15k (14% of expenses). At year end it held assets of $602k against liabilities of $195k, net assets of $407k.