The Cornerstone Foundation Incorporated

Organization Overview

The Cornerstone Foundation Incorporated is located in Rockville, CT. The organization was established in 1985. According to its NTEE Classification (K34) the organization is classified as: Congregate Meals, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 12/2021, Cornerstone Foundation Incorporated employed 38 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cornerstone Foundation Incorporated 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 Foundation Incorporated generated $2.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.5% each year . All expenses for the organization totaled $2.4m during the year ending 12/2021. While expenses have increased by 18.8% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE CORNERSTONE FOUNDATION IS A NON-PROFIT ORGANIZATION BASED IN ROCKVILLE, CONNECTICUT, A FORMER TEXTILE MILL CITY ABOUT 15 MILES NORTHEAST OF HARTFORD. THE ORGANIZATION PROVIDES FOOD, CLOTHING, AND SHELTER TO THOSE IN NEED WITHIN THEIR COMMUNITY. THEY ALSO PROVIDE AFTER SCHOOL TEEN PROGRAMS FOR AT RISK LOCAL TEENAGERS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

COMMUNITY KITCHEN - PROVIDES A DIGNIFIED ENVIRONMENT SERVING BETWEEN 3,500 AND 4,000 MEALS PER MONTH. ALSO A FOOD PANTRY THAT PROVIDES ASSISTANCE TO THOSE NEEDING SOME EXTRA HELP WHO MEET THE FEDERAL GUIDELINES FOR FOOD ASSISTANCE.


CLOTHING BANK - DONATED CLOTHING AND HOUSEHOLD GOODS ARE TAKEN IN, SORTED, AND DISTRIBUTED FREE OF CHARGE WHEREVER THERE IS A NEED.


SHELTER - A FACILITY TO PROVIDE TEMPORARY SHELTER FOR INDIVIDUALS IN THE AREA NEEDING A WARM, SAFE PLACE TO SPEND THE NIGHT.


COMMUNITY CENTER - A FACILITY TO PROVIDE THE YOUTH OF THE AREA WITH WHOLESOME ACTIVITIES WHICH ARE A SAFE ALTERNATIVE TO THE STREETS.


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Board, Officers & Key Employees

Name (title)Compensation
Angela Atwater
President
$0
Dick Carterud
Assistant Tr
$0
Susan Mason
Secretary
$0
Alan Sauer
Treasurer
$0
Thomas Stauffer
Vice Preside
$0
Matthew Couzens
Member-At-La
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $8,500
All other contributions, gifts, grants, and similar amounts not included above$2,271,932
Noncash contributions included in lines 1a–1f $1,572,308
Total Revenue from Contributions, Gifts, Grants & Similar$2,280,432
Total Program Service Revenue$0
Investment income $3
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $2,505
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $26,446
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $2,312,347

Grants Recieved

Over the last fiscal year, we have identified 7 grants that The Cornerstone Foundation Incorporated has recieved totaling $366,547.

Awarding OrganizationAmount
Journey Home Incorporated

Hartford, CT

PURPOSE: HOMELESSNESS ASSISTANCE

$252,183
American Online Giving Foundation Inc

Newark, DE

PURPOSE: GENERAL SUPPORT

$26,570
Morgan Stanley Global Impact Funding Trust Inc

Indianapolis, IN

PURPOSE: UNRESTRICTED GENERAL SUPPORT

$25,000
Schwab Charitable Fund

San Francisco, CA

PURPOSE: HEALTH

$24,550
Hartford Foundation For Public Giving

Hartford, CT

PURPOSE: BASIC HUMAN NEEDS

$15,000
Network For Good Inc

Washington, DC

PURPOSE: UNRESTRICTED

$12,244
View Grant Recipient Profile

Endowment Analysis

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