Cornerstone Preparatory School Inc

Analysis

Cornerstone Preparatory School Inc is a registered charity in United States, based in Madisonville, KY. It received its IRS tax-exemption ruling in December 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 2023, Cornerstone Preparatory School Inc reported income of $700k and spending of $700k, spending 100% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $307k to $700k (+129%), an average of +32% a year. The sharpest change came in the year to June 2023, when income rose by 55%. Over the whole period it spent 99% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cornerstone Preparatory School Inc sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 76th percentile within KY. Charities of a similar size with the same main cause include Carlton Landing Academy Inc ($700k), Flagstaff Cooperative Preschool Inc ($701k) and H Malcolm Macdonald Charitable TR ($700k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 2.1% of the total. Other salaries and wages came to $512k. At year end it held assets of $56k against liabilities of $5,581, net assets of $51k. It reported 27 employees.