Cornerstone Initiative Inc
EIN: 275159255 · Huntsville, AL · NTEE: S47
| Metric | Value |
|---|---|
| Total Revenue | $327K |
| Total Expenses | $244K |
| Net Assets | $248K |
Is Cornerstone Initiative Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Cornerstone Initiative Inc
Cornerstone Initiative Inc (EIN: 275159255) is a nonprofit organization based in Huntsville, AL, classified under NTEE code S47. The organization reported total revenue of $327K and total assets of $326K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Cornerstone Initiative Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Cornerstone Initiative Inc is a small nonprofit that has been operating for 13 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 19.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $319K |
| Total Expenses | $244K |
| Surplus / Deficit | +$75K |
| Total Assets | $257K |
| Total Liabilities | $8K |
| Net Assets | $248K |
| Operating Margin | 23.6% |
| Debt-to-Asset Ratio | 3.3% |
| Months of Reserves | 12.6 months |
Financial Health Grade: A
In 2023, Cornerstone Initiative Inc reported a surplus of $75K with revenue exceeding expenses, holds 12.6 months of operating reserves (strong position), has a debt-to-asset ratio of 3.3% (very low leverage).
Financial Trends
Over 12 years of filings (2012–2023), Cornerstone Initiative Inc's revenue has grown at a compound annual growth rate (CAGR) of 19.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +47.4% | +7.2% | +42.4% |
| 2022 | +2.9% | +3.5% | -5.0% |
| 2021 | -19.2% | +7.1% | -4.5% |
| 2020 | +32.7% | +12.7% | +85.0% |
| 2019 | -2.1% | -8.5% | +13.4% |
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 Initiative Inc 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 Initiative Inc 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 surplus of $75K, with revenue exceeding expenses.
- Debt-to-asset ratio: 3.3%.
Frequently Asked Questions about Cornerstone Initiative Inc
Is Cornerstone Initiative Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Cornerstone Initiative Inc (EIN: 275159255) insufficient data. 0 red flags identified, 0 strengths noted.
How does Cornerstone Initiative Inc spend its money?
Detailed spending breakdown data is not yet available for Cornerstone Initiative Inc. Check back for updated IRS 990 analysis.
Are donations to Cornerstone Initiative Inc tax-deductible?
Cornerstone Initiative Inc is registered as a tax-exempt nonprofit (EIN: 275159255). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Cornerstone Initiative Inc located?
Cornerstone Initiative Inc is headquartered in Huntsville, Alabama and files with the IRS under EIN 275159255. It is classified under NTEE code S47.
How many years of IRS 990 filings does Cornerstone Initiative Inc have?
Cornerstone Initiative Inc has 12 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 $327K in total revenue.
Filing History
IRS 990 filing history for Cornerstone Initiative Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Cornerstone Initiative Inc's revenue has grown by 614.6%, moving from $45K to $319K. Total assets increased by 2055.5% over the same period, from $12K to $257K. Total functional expenses rose by 122.1%, from $110K to $244K. In its most recent filing year (2023), Cornerstone Initiative Inc reported a surplus of $75K, with revenue exceeding expenses. The organization holds $8K in liabilities against $257K in assets (debt-to-asset ratio: 3.3%), resulting in net assets of $248K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $319K | $244K | $257K | $8K | — | — |
| 2022 | $217K | $228K | $180K | $7K | — | View 990 |
| 2021 | $211K | $220K | $190K | $6K | — | View 990 |
| 2020 | $261K | $205K | $199K | $6K | — | View 990 |
| 2019 | $196K | $182K | $107K | $3K | — | View 990 |
| 2018 | $201K | $199K | $95K | $5K | — | View 990 |
| 2017 | $109K | $159K | $93K | $5K | — | View 990 |
| 2016 | $158K | $124K | $140K | $2K | — | View 990 |
| 2015 | $154K | $169K | $107K | $3K | — | View 990 |
| 2014 | $224K | $137K | $124K | $5K | — | View 990 |
| 2013 | $125K | $99K | $37K | $2K | — | View 990 |
| 2012 | $45K | $110K | $12K | $2K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $319K, expenses of $244K, and assets of $257K (revenue +47.4% year-over-year).
- 2022: Revenue of $217K, expenses of $228K, and assets of $180K (revenue +2.9% year-over-year).
- 2021: Revenue of $211K, expenses of $220K, and assets of $190K (revenue -19.2% year-over-year).
- 2020: Revenue of $261K, expenses of $205K, and assets of $199K (revenue +32.7% year-over-year).
- 2019: Revenue of $196K, expenses of $182K, and assets of $107K (revenue -2.1% year-over-year).
- 2018: Revenue of $201K, expenses of $199K, and assets of $95K (revenue +83.8% year-over-year).
- 2017: Revenue of $109K, expenses of $159K, and assets of $93K (revenue -31.0% year-over-year).
- 2016: Revenue of $158K, expenses of $124K, and assets of $140K (revenue +2.4% year-over-year).
- 2015: Revenue of $154K, expenses of $169K, and assets of $107K (revenue -31.0% year-over-year).
- 2014: Revenue of $224K, expenses of $137K, and assets of $124K (revenue +79.0% year-over-year).
- 2013: Revenue of $125K, expenses of $99K, and assets of $37K (revenue +179.9% year-over-year).
- 2012: Revenue of $45K, expenses of $110K, and assets of $12K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Cornerstone Initiative Inc:
Data Sources and Methodology
This transparency report for Cornerstone Initiative Inc 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.