Cornerstone Foundation
- Assets
- $0.0
- Revenue
- $1.2m
- Investments
- $17.4m
- Employees
- 0
- Location
- Brooklyn, NY
- Founding
- 01/1999
- Data as of
- 10/2021
- EIN
- 11-3462646
Organization Overview
Cornerstone Foundation is located in Brooklyn, NY. The organization was established in 1999. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cornerstone Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 10/2021, Cornerstone Foundation generated $1.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (9.0%) each year. All expenses for the organization totaled $1.6m during the year ending 10/2021. You can explore the organizations financials more deeply in the financial statements section below.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $250,000 |
| Interest on Savings | $919,180 |
| Dividends & Interest | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,169,180 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Pension plans, employee benefits | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Total operating and administrative expenses | $5,136 |
| Contributions, gifts, grants paid | $1,564,306 |
| Total expenses and disbursements | $1,569,442 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Investments—mortgage loans | $16,281,943 |
| Investments—other | $1,114,838 |
| Other assets | $81,515 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |