Cornerstone Christian School

Analysis

Cornerstone Christian School is a registered charity in United States, based in Lacey, WA. It received its IRS tax-exemption ruling in August 1994, 32 years ago. 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 June 2023, Cornerstone Christian School reported income of $1.4m and spending of $1.3m, spending 90% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $754k to $1.4m (+90%), an average of +17% a year. The sharpest change came in the year to June 2022, when income rose by 43%. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Cornerstone Christian School sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 83rd percentile within WA. Charities of a similar size with the same main cause include Childrens International Summer Villages Inc ($1.4m), Kids Cancer Alliance Inc ($1.4m) and N K Murphy Education Corporation ($1.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 3.3% and program service revenue 92% of the total. Other salaries and wages came to $695k. At year end it held assets of $454k against liabilities of $24k, net assets of $430k. It reported 56 employees.