Joseph And Robert Cornell Memorial Foundation
- Assets
- $60.1m
- Revenue
- $13.3m
- Investments
- $59.0m
- Employees
- 0
- Location
- Charlottesville, VA
- Founding
- 07/1984
- Data as of
- 12/2021
- EIN
- 13-3097502
Organization Overview
Joseph And Robert Cornell Memorial Foundation is located in Charlottesville, VA. The organization was established in 1984. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, 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. Joseph And Robert Cornell Memorial 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 12/2021, Joseph And Robert Cornell Memorial Foundation generated $13.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.4% each year . All expenses for the organization totaled $5.2m during the year ending 12/2021. While expenses have increased by 2.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Joseph And Robert Cornell Memorial Foundation has awarded 339 individual grants totaling $31,780,050. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melissa Young Trustee | 20 | $141,491 | |
Joseph Erdman Trustee | 20 | $133,683 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $72 |
| Dividends & Interest | $2,454,402 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $10,863,778 |
| Capital Gain Net Income | $10,863,778 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $8,296 |
| Total Revenue | $13,326,548 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $275,174 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $141,411 |
| Depreciation | $0 |
| Occupancy | $18,264 |
| Travel, conferences, and meetings | $3,658 |
| Printing and publications | $0 |
| Other expenses | $5,020 |
| Total operating and administrative expenses | $851,342 |
| Contributions, gifts, grants paid | $4,300,000 |
| Total expenses and disbursements | $5,151,342 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $729,773 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $31,118,640 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $421,606 |
| Total assets | $60,126,287 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Joseph And Robert Cornell Memorial Foundation has awarded $4,300,000 in support to 51 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: GRANT IS FOR DONEE'S EXEMPT PURPOSE | $650,000 |
WNET NEW YORK PUBLIC MEDIA PURPOSE: GRANT IS FOR DONEE'S EXEMPT PURPOSE | $550,000 |
Charlottesville, VA PURPOSE: GRANT IS FOR DONEE'S EXEMPT PURPOSE | $300,000 |
CHARLOTTESVILLE OPERA PURPOSE: GRANT IS FOR DONEE'S EXEMPT PURPOSE | $250,000 |
Charlottesville, VA PURPOSE: GRANT IS FOR DONEE'S EXEMPT PURPOSE | $250,000 |
SANTA FEE OPERA PURPOSE: GRANT IS FOR DONEE'S EXEMPT PURPOSE | $200,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Abell Foundation Inc Baltimore, MD | $398,354,670 | $42,510,470 |
Cognizant Us Foundation Washington, DC | $53,711,221 | $1,081,755 |
J R Hyde Iii Foundation Memphis, TN | $230,354,058 | $26,306,779 |
Operating Engineers Trust Fund Of Washington D C & Vicinity Sparks, MD | $40,754,444 | $17,999,357 |
Humana Foundation Inc Louisville, KY | $467,311,073 | $9,744,567 |
C Kenneth And Dianne Wright Foundation Henrico, VA | $254,775 | $2,124,209 |
Kahlert Foundation Inc Sykesville, MD | $93,179,960 | $19,162,440 |
First Horizon Foundation Memphis, TN | $37,840,936 | $11,265,846 |
Families And Communities Rising Inc Durham, NC | $8,732,109 | $17,644,457 |
Charles A Cannon Charitable Trust N0 One Concord, NC | $132,429,020 | $9,552,538 |
Claude And Betty Harris Foundation Inc Louisville, KY | $58,528,117 | $25,952,323 |
P H P Inc Hopkinsville, KY | $1,933,207 | $15,725,161 |