Cornerstone Legacy Foundation
- Assets
- $3.2m
- Revenue
- $97.7k
- Investments
- $2.2m
- Employees
- 0
- Location
- Irvine, CA
- Founding
- 10/2004
- Data as of
- 12/2021
- EIN
- 20-0470994
Organization Overview
Cornerstone Legacy Foundation is located in Irvine, CA. The organization was established in 2004. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Cornerstone Legacy 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, Cornerstone Legacy Foundation generated $97.7k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $437.6k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Cornerstone Legacy Foundation has awarded 133 individual grants totaling $2,603,068. 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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gerald Pharris CEO | 2 | $0 | |
Lynn Pharris Secretary / CFO | 2 | $0 | |
Catherine Anderson Director | 0.5 | $0 | |
Brian Pharris Director | 0.5 | $0 | |
Jonathan Pharris Director | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $980 |
| Dividends & Interest | $6,020 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$32,105 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $122,784 |
| Total Revenue | $97,679 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $199 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,240 |
| Total operating and administrative expenses | $16,469 |
| Contributions, gifts, grants paid | $421,120 |
| Total expenses and disbursements | $437,589 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,001,304 |
| Savings and temporary cash investments | $0 |
| 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 | $2,246,075 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,247,379 |
| 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, Cornerstone Legacy Foundation has awarded $421,120 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
NATIONAL CHRISTIAN FOUNDATION PURPOSE: SUPPORT OF EXEMPT FUNCTION | $350,000 |
Newport Beach, CA PURPOSE: SUPPORT OF EXEMPT FUNCTION | $50,000 |
Orlando, FL PURPOSE: SUPPORT OF EXEMPT FUNCTION | $12,000 |
Irvine, CA PURPOSE: SUPPORT OF EXEMPT FUNCTION | $9,120 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Cornerstone Legacy Foundation has recieved totaling $400.
| Awarding Organization | Amount |
|---|---|
Krislynn Foundation Irvine, CA PURPOSE: SUPPORT OF EXEMPT FUNCTION | $400 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
W M Keck Foundation Los Angeles, CA | $1,878,594,082 | $132,529,748 |
Conrad Prebys Foundation San Diego, CA | $0 | $206,775,032 |
Jay And Rose Phillips Family Foundation Of California San Francisco, CA | $0 | $58,236 |
Jay And Rose Phillips Family Foundation Of Colorado Redwood City, CA | $0 | -$205,157 |
Henry J Kaiser Family Foundation San Francisco, CA | $1,103,580,994 | $111,004,070 |
The Ahmanson Foundation Beverly Hills, CA | $0 | $54,356,398 |
Charles Huang Foundation Pasadena, CA | $65,868,960 | $116,144,816 |
Weingart Foundation Los Angeles, CA | $0 | $30,569,267 |
Engelstad Fam Foundation Las Vegas, NV | $835,390,513 | $95,367,626 |
Price Philanthropies Foundation La Jolla, CA | $497,968,777 | $37,892,208 |
Kavli Foundation Los Angeles, CA | $672,190,947 | $63,900,227 |
Oprah Winfrey Charitable Foundation Los Angeles, CA | $244,908,730 | $15,499,605 |