The Cornerstone Creative Inc

Analysis

The Cornerstone Creative Inc is a registered charity in United States, based in Gloucester, MA. It received its IRS tax-exemption ruling in October 2020, 6 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, The Cornerstone Creative Inc reported income of $177k and spending of $153k, spending 86% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $82k to $177k (+115%), an average of +115% a year. The sharpest change came in the year to December 2023, when income rose by 115%. Over the whole period it spent 99% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, The Cornerstone Creative Inc sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 55th percentile within MA. Charities of a similar size with the same main cause include Greater Than Tech ($177k), Sweetwater Organic Community Farm Inc ($177k) and Ukulele Kids Club Inc ($177k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 74% and program service revenue 26% of the total. At year end it held assets of $76k against liabilities of $40, net assets of $76k.