Cornerstone Housing for Adults with Disabilities

Analysis

Cornerstone Housing for Adults with Disabilities is a registered charity in United States, based in N Hollywood, CA. It received its IRS tax-exemption ruling in November 2019, 7 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 Housing for Adults with Disabilities reported income of $5.7m and spending of $1.1m, leaving 81% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income fell from $9.6m to $5.7m (-41%), an average of -16% a year. The sharpest change came in the year to December 2022, when income rose by 232%. Over the whole period it spent 8.4% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Cornerstone Housing for Adults with Disabilities sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within CA. Charities of a similar size with the same main cause include Habitat for Humanity-New York Inc ($5.7m), House of Refuge Inc ($5.7m) and The Jewish Home and Senior Living Foundation ($5.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% of the total. At year end it held assets of $39.1m against liabilities of $11.5m, net assets of $27.6m.