Cornerstone Grace Foundation

Analysis

Cornerstone Grace Foundation is a registered charity in United States, based in LA Jolla, CA. It received its IRS tax-exemption ruling in June 2021, 5 years ago. Its declared purposes cover education, which this site groups under education and training. 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 Grace Foundation reported income of $80k and spending of $40k, leaving 50% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $80k to $80k (-0.0%), an average of +-0.0% a year. Over the whole period it spent 46% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cornerstone Grace Foundation sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 31st percentile, and in the 33rd percentile within CA. Charities of a similar size with the same main cause include New York State Middle School Assoc Inc ($80k), Great Neck Student Aid Fund Inc ($80k) and Atholton Boosters Association Incorporated ($80k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $129k against liabilities of $0, net assets of $129k.