Cornerstone Classical Academy

Analysis

Cornerstone Classical Academy is a registered charity in United States, based in Jacksonville, FL. It received its IRS tax-exemption ruling in August 2019, 7 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 2024, Cornerstone Classical Academy reported income of $12.4m and spending of $9.8m, leaving 21% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $191k to $12.4m (+6358%), an average of +184% a year. The sharpest change came in the year to June 2021, when income rose by 2148%. Over the whole period it spent 91% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cornerstone Classical Academy sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within FL. Charities of a similar size with the same main cause include Utah Military Academy ($12.4m), Princeton-Blairstown Center Inc ($12.4m) and Ogden Preparatory Academy Inc ($12.4m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 0.7% and program service revenue 80% of the total. At year end it held assets of $43.6m against liabilities of $41.1m, net assets of $2.5m. It reported 166 employees.