Cornerstone For Life
EIN: 462077111 · Storm Lake, IA · NTEE: E40
| Metric | Value |
|---|---|
| Total Revenue | $85K |
| Total Expenses | $70K |
| Net Assets | $118K |
Is Cornerstone For Life Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Cornerstone For Life
Cornerstone For Life (EIN: 462077111) is a nonprofit organization based in Storm Lake, IA, classified under NTEE code E40. The organization reported total revenue of $85K and total assets of $131K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Cornerstone For Life's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Cornerstone For Life is a micro nonprofit that has been operating for 13 years, with 5 years of IRS 990 filings on record (2019–2023). Revenue has grown at a compound annual rate of 9.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $56K |
| Total Expenses | $70K |
| Surplus / Deficit | $-14,734 |
| Total Assets | $118K |
| Net Assets | $118K |
| Operating Margin | -26.5% |
| Months of Reserves | 20.1 months |
Financial Health Grade: B
In 2023, Cornerstone For Life reported a deficit of $15K with expenses exceeding revenue, holds 20.1 months of operating reserves (strong position).
Financial Trends
Over 5 years of filings (2019–2023), Cornerstone For Life's revenue has grown at a compound annual growth rate (CAGR) of 9.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -31.3% | +8.6% | -11.1% |
| 2022 | +62.9% | +36.9% | +13.9% |
| 2021 | +83.5% | +32.2% | +2.1% |
| 2020 | -29.5% | +23.5% | -7.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2013 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Cornerstone For Life has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Cornerstone For Life with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $15K, with expenses exceeding revenue.
Frequently Asked Questions about Cornerstone For Life
Is Cornerstone For Life a legitimate charity?
Based on AI analysis of IRS 990 filings, Cornerstone For Life (EIN: 462077111) insufficient data. 0 red flags identified, 0 strengths noted.
How does Cornerstone For Life spend its money?
Detailed spending breakdown data is not yet available for Cornerstone For Life. Check back for updated IRS 990 analysis.
Are donations to Cornerstone For Life tax-deductible?
Cornerstone For Life is registered as a tax-exempt nonprofit (EIN: 462077111). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Cornerstone For Life located?
Cornerstone For Life is headquartered in Storm Lake, Iowa and files with the IRS under EIN 462077111. It is classified under NTEE code E40.
How many years of IRS 990 filings does Cornerstone For Life have?
Cornerstone For Life has 5 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $85K in total revenue.
Filing History
IRS 990 filing history for Cornerstone For Life showing financial trends over 5 years of public records:
Over 5 years of IRS 990 filings (2019–2023), Cornerstone For Life's revenue has grown by 44.7%, moving from $38K to $56K. Total assets decreased by 3.8% over the same period, from $123K to $118K. Total functional expenses rose by 142.9%, from $29K to $70K. In its most recent filing year (2023), Cornerstone For Life reported a deficit of $15K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $56K | $70K | $118K | $0 | — | View 990 |
| 2022 | $81K | $65K | $133K | $117K | — | — |
| 2021 | $50K | $47K | $117K | $0 | — | — |
| 2020 | $27K | $36K | $114K | $0 | — | View 990 |
| 2019 | $38K | $29K | $123K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $56K, expenses of $70K, and assets of $118K (revenue -31.3% year-over-year).
- 2022: Revenue of $81K, expenses of $65K, and assets of $133K (revenue +62.9% year-over-year).
- 2021: Revenue of $50K, expenses of $47K, and assets of $117K (revenue +83.5% year-over-year).
- 2020: Revenue of $27K, expenses of $36K, and assets of $114K (revenue -29.5% year-over-year).
- 2019: Revenue of $38K, expenses of $29K, and assets of $123K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Cornerstone For Life:
Data Sources and Methodology
This transparency report for Cornerstone For Life is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.