Cornerstone Franciscan Ministries Inc

Analysis

Cornerstone Franciscan Ministries Inc is a registered charity in United States, based in Luthvle Timon, MD. It received its IRS tax-exemption ruling in September 2022, 4 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 Franciscan Ministries Inc reported income of $6.4m and spending of $6.2m, spending 97% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $1.7m to $6.4m (+284%), an average of +284% a year. The sharpest change came in the year to December 2023, when income rose by 284%. Over the whole period it spent 77% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Cornerstone Franciscan Ministries Inc sits at the 99th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 92nd percentile within MD. Charities of a similar size with the same main cause include Chicago Rabbinical Council Inc ($6.4m), Tompkins Cortland Community College Foundation ($6.4m) and Baptist Church Loan Corporation ($6.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 2.1% of the total. Compensation of current officers, directors and key employees was $83k (1.3% of expenses). Other salaries and wages came to $673k. At year end it held assets of $2.3m against liabilities of $613k, net assets of $1.7m. It reported 19 employees.