Cornerstone of Grace

Analysis

Cornerstone of Grace is a registered charity in United States, based in Watertown, WI. It received its IRS tax-exemption ruling in August 2020, 6 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, Cornerstone of Grace reported income of $329k and spending of $342k, spending 104% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $221k to $329k (+49%), an average of +49% a year. The sharpest change came in the year to December 2023, when income rose by 49%. Over the whole period it spent 94% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Cornerstone of Grace sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 63rd percentile within WI. Charities of a similar size with the same main cause include Operation Hope Prison Ministry ($329k), Faith and Action for Strength Together ($329k) and Durant Childrens Group Inc ($329k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 88% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $64k (19% of expenses). Other salaries and wages came to $37k. At year end it held assets of $144k against liabilities of $3,756, net assets of $140k. It reported 3 employees.