Cornerstone Grant

Analysis

Cornerstone Grant is a registered charity in United States, based in Bayonne, NJ. It received its IRS tax-exemption ruling in April 2021, 5 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 Grant reported income of $136k and spending of $100k, leaving 27% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $236k to $136k (-42%), an average of -42% a year. The sharpest change came in the year to December 2023, when income dropped by 42%. Over the whole period it spent 90% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Cornerstone Grant sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 53rd percentile within NJ. Charities of a similar size with the same main cause include Bureau County United Way Inc ($136k), Loveiam ($136k) and Ravens Roost Foundation for Families Inc ($136k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $37k against liabilities of $0, net assets of $37k.