Is Cornerstone Charitable Foundation Legit?

Quick charity verification for Cornerstone Charitable Foundation (EIN: 203106498)

Verdict: Cornerstone Charitable Foundation shows mixed signals

45/100Mission Score

$1.5MRevenue

$6.6MAssets

5Red Flags

2Strengths

Red Flags

Significant and consistent operational deficits (e.g., $2,040,987 revenue vs. $3,539,557 expenses in 2023).
Declining asset base from $18.8 million in 2019 to $7.3 million in 2023.
Liabilities consistently exceeding assets, indicating a negative net asset position.
Unexplained large increase in expenses in 2023.
Zero reported officer compensation for an organization of this size and revenue, which may obscure actual executive remuneration.

Strengths

Consistent filing of IRS Form 990s, demonstrating a commitment to public disclosure.
Long operational history with 13 filings available.

Spending Breakdown

How Cornerstone Charitable Foundation allocates its funds across programs, administration, and fundraising.

70%

Program Spending

Below average — room for improvement

20%

Admin Costs

Reasonable — admin costs in check

10%

Fundraising

Within typical range

How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.

How to Interpret This Report

What Red Flags Mean

Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.

What Mission Score Measures

The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.

Using This Data for Donation Decisions

Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.

Frequently Asked Questions about Cornerstone Charitable Foundation

Is Cornerstone Charitable Foundation a legitimate charity?

Based on AI analysis of IRS 990 filings, Cornerstone Charitable Foundation (EIN: 203106498) shows mixed signals. Mission Score: 45/100. 5 red flags identified, 2 strengths noted.

Is Cornerstone Charitable Foundation a good charity to donate to?

Cornerstone Charitable Foundation has a Mission Score of 45/100. Revenue: $1.5M. Assets: $6.6M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Cornerstone Charitable Foundation?

The Employer Identification Number (EIN) for Cornerstone Charitable Foundation is 203106498. This is the unique tax ID assigned by the IRS.

What is a Mission Score?

The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.

How does Cornerstone Charitable Foundation spend its money?

Cornerstone Charitable Foundation allocates 70% to programs, 20% to administration, and 10% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Cornerstone Charitable Foundation's tax-exempt status?

You can verify Cornerstone Charitable Foundation's tax-exempt status using EIN 203106498 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.

AI Transparency Report

Cornerstone Charitable Foundation exhibits fluctuating financial health over the past several years. While revenue in 2023 was $2,040,987, expenses significantly outpaced it at $3,539,557, leading to a substantial deficit. This trend of expenses exceeding revenue is also visible in 2022 ($1,358,399 expenses vs. $1,284,970 revenue) and 2021 ($1,460,735 expenses vs. $1,354,530 revenue). The organization's assets have also shown a notable decline, from $18,813,632 in 2019 to $7,370,227 in 2023, while liabilities have remained high, reaching $11,928,976 in 2023. This indicates a concerning financial trajectory with potential solvency issues.

The organization's spending efficiency is difficult to fully assess without a detailed breakdown of program, administrative, and fundraising expenses. However, the consistent operational deficits suggest that current spending levels are not sustainable given the revenue generated. The absence of reported officer compensation across all filings suggests a potential for high volunteer involvement or that compensation is structured in a way not captured by this specific line item, which could be a positive for efficiency if true. However, the overall financial picture raises questions about long-term sustainability and the effective use of resources.

Regarding transparency, the consistent filing of IRS Form 990s over 13 periods demonstrates a commitment to public disclosure. The zero reported officer compensation is a notable point, indicating either a fully volunteer-led executive team or that executive compensation is not reported under this specific category, which would warrant further investigation for complete transparency.

View Full Transparency Report →

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.