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.