Cornerstone Center Foundation
- Assets
- $2.4m
- Revenue
- $197.6k
- Investments
- $1.9m
- Employees
- 0
- Location
- West Chicago, IL
- Founding
- 10/1998
- Data as of
- 12/2021
- EIN
- 36-4248583
Organization Overview
Cornerstone Center Foundation is located in West Chicago, IL. The organization was established in 1998. 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. Cornerstone Center 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 Center Foundation generated $197.6k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $233.6k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (6.5%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Cornerstone Center Foundation has awarded 251 individual grants totaling $1,007,203. 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
GUEST HOUSE PROVIDED FOR VISITING MISSIONARIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Virginia Johnson Trustee | 15 | $34,992 | |
Jeffrey Vandermolen Trustee | 7 | $15,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $18,425 |
| Interest on Savings | $107 |
| Dividends & Interest | $52,443 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $119,092 |
| Capital Gain Net Income | $119,092 |
| Net ST Capital Gain | $19,144 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $7,520 |
| Total Revenue | $197,587 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $49,992 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $626 |
| Depreciation | $10,950 |
| Occupancy | $21,697 |
| Travel, conferences, and meetings | $1,067 |
| Printing and publications | $0 |
| Other expenses | $15,117 |
| Total operating and administrative expenses | $119,734 |
| Contributions, gifts, grants paid | $113,825 |
| Total expenses and disbursements | $233,559 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $100,697 |
| 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 | $160,982 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $12,000 |
| Net Land, buildings, and equipment | $263,718 |
| Other assets | $0 |
| Total assets | $2,435,565 |
| 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 Center Foundation has awarded $113,825 in support to 33 organizations.
| Grant Recipient | Amount |
|---|---|
West Chicago, IL PURPOSE: RELIGIOUS | $20,000 |
OUTREACH COMMUNITY MINISTRIES PURPOSE: ADVOCACY | $16,618 |
Wheaton, IL PURPOSE: ADVOCACY | $10,000 |
Glen Ellyn, IL PURPOSE: ADVOCACY | $5,500 |
Chicago, IL PURPOSE: RELIGIOUS | $5,000 |
REACH BEYOND PURPOSE: RELIGIOUS | $4,800 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lumina Foundation For Education Inc Indianapolis, IN | $0 | $124,727,424 |
Fulk Family Foundation Inc Chicago, IL | $111,507,856 | $5,187,231 |
The Robert D And Patricia E Kern Family Foundation Inc Waukesha, WI | $717,991,169 | $43,480,423 |
Grainger Foundation Inc Lake Forest, IL | $184,158,239 | $17,016,007 |
Crawford Taylor Foundation St Louis, MO | $738,101,888 | $69,635,068 |
Zell Family Foundation Chicago, IL | $0 | $76,843,080 |
Enterprise Holdings Foundation Saint Louis, MO | $398,583,830 | $68,157,541 |
Abbvie Foundation North Chicago, IL | $72,211,109 | $4,010,058 |
Hall Family Foundation Kansas City, MO | $1,171,646,854 | $87,869,006 |
Caterpillar Foundation Peoria, IL | $93,606,659 | $54,411,827 |
Circle Of Service Foundation Chicago, IL | $697,372,085 | $55,153,209 |
Allstate Foundation Northbrook, IL | $112,475,932 | $31,277,614 |