Cornerstone Christian Academy

Analysis

Cornerstone Christian Academy is a registered charity in United States, based in Turnersville, NJ. It received its IRS tax-exemption ruling in June 2022, 4 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Cornerstone Christian Academy reported income of $375k and spending of $364k, spending 97% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $361k to $375k (+4.0%), an average of +4.0% a year. Over the whole period it spent 101% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cornerstone Christian Academy sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 71st percentile within NJ. Charities of a similar size with the same main cause include Library Company of the Baltimore Bar ($375k), Bacot Academy Inc ($375k) and Israel-Texas Science and Education Foundation Inc ($375k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 11% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $34k (9.3% of expenses). Other salaries and wages came to $234k. At year end it held assets of $109k against liabilities of $73k, net assets of $36k. It reported 32 employees.