Cornerstone Center For The Arts Inc

Organization Overview

Cornerstone Center For The Arts Inc is located in Muncie, IN. The organization was established in 1990. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2023, Cornerstone Center For The Arts Inc employed 64 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cornerstone Center For The Arts Inc 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 12/2022, Cornerstone Center For The Arts Inc generated $714.9k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $752.9k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (0.8%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE ORGANIZATION WAS FORMED TO NURTURE COMMUNITY CONNECTIONS BY PROVIDING OPPORTUNITIES FOR CREATIVE EXPRESSION, EDUCATIONAL PROGRAMS, AND EVENTS IN A HISTORIC SETTING.

Describe the Organization's Program Activity:

THE BUILDING IS THE HOME OF ART CLASSES FOR ALL AGES, INCLUDING STRING, PIANO, FLUTE, DANCE, VISUAL ARTS, AND SIGN LANGUAGE. COMMUNITY EVENTS ARE HOSTED THROUGHOUT THE YEAR, AND MEMBERS OF THE COMMUNITY BENEFIT FROM THE SPACE AVAILABLE TO RENT. THE ORGANIZATION SPONSORS VARIOUS CULTURAL PROGRAMS FOR CHILDREN AND ADULTS IN THE COMMUNITY. ENROLLMENT VARIES BY PROGRAM.


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Board, Officers & Key Employees

Name (title)Compensation
Carol Bradshaw
President
$0
Kourtney Mccauliff
Secretary
$0
Patrick Burkey
Treasurer
$0
Dr Maria Williams-Hawkins
Director
$0
Kirsten Smith
Director
$0
Ian Robertson
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$535,955
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$535,955
Total Program Service Revenue$168,589
Investment income $6,958
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $3,389
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $714,891

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