Cornerstone Associates Inc

Analysis

Cornerstone Associates Inc is a registered charity in United States, based in Corvallis, OR. It received its IRS tax-exemption ruling in March 1965, 61 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 June 2024, Cornerstone Associates Inc reported income of $2.8m and spending of $2.3m, spending 83% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $2.7m to $2.8m (+5.1%), an average of +1.3% a year. The sharpest change came in the year to June 2022, when income rose by 29%. Over the whole period it spent 86% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Cornerstone Associates Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within OR. Charities of a similar size with the same main cause include West Valley Mission Community College District Foundation ($2.8m), Field School Foundation ($2.8m) and Felix E Martin Jr Foundation Inc ($2.8m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 9.6% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $106k (4.6% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $4.1m against liabilities of $525k, net assets of $3.6m.