Cornerstone Resource Center

Analysis

Cornerstone Resource Center is a registered charity in United States, based in Lamar, CO. It received its IRS tax-exemption ruling in November 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 Resource Center reported income of $588k and spending of $565k, spending 96% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $397k to $588k (+48%), an average of +48% a year. The sharpest change came in the year to December 2023, when income rose by 48%. Over the whole period it spent 93% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Cornerstone Resource Center sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 70th percentile within CO. Charities of a similar size with the same main cause include Gifts for the Homeless ($588k), Kinera Foundation Inc ($588k) and Parents of Autistic Children of Ocean County Inc ($588k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $252k. At year end it held assets of $95k against liabilities of $12k, net assets of $83k. It reported 12 employees.