Corner Foundation Inc
- Assets
- $16.5m
- Revenue
- $2.3m
- Investments
- $16.3m
- Employees
- 0
- Location
- New York, NY
- Founding
- 03/2015
- Data as of
- 12/2022
- EIN
- 46-4340215
Organization Overview
Corner Foundation Inc is located in New York, NY. The organization was established in 2015. According to its NTEE Classification (T11) the organization is classified as: Single Organization Support, 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. Corner Foundation 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, Corner Foundation Inc generated $2.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.1%) each year. All expenses for the organization totaled $1.8m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Corner Foundation Inc has awarded 452 individual grants totaling $6,533,716. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frederick Elghanayan President | 0 | $0 | |
Diana Elghanayan Director,secretary & Treasurer | 0 | $0 | |
Zoe Elghanayan Director | 0 | $0 | |
Ariel Elghanayan Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $439,624 |
| Dividends & Interest | $263,231 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,500,356 |
| Capital Gain Net Income | $1,500,356 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $74,949 |
| Total Revenue | $2,278,160 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $3,169 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $163,645 |
| Total operating and administrative expenses | $196,082 |
| Contributions, gifts, grants paid | $1,616,550 |
| Total expenses and disbursements | $1,812,632 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $222,612 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $1,311 |
| 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 | $10,918,362 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $1,463 |
| Total assets | $16,482,169 |
| 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, Corner Foundation Inc has awarded $1,616,550 in support to 65 organizations.
| Grant Recipient | Amount |
|---|---|
92ND STREET Y PURPOSE: CHARITABLE | $10,000 |
BRIDGEHAMPTON CHILDCARE & PURPOSE: CHARITABLE | $10,000 |
CENTER FOR FAMILY LIFE IN SUNSET PARK PURPOSE: CHARITABLE | $20,000 |
BLAIR ACADEMY PURPOSE: CHARITABLE | $100,000 |
CASA - NYC PURPOSE: CHARITABLE | $10,000 |
CENTRAL PARK CONSERVANCY PURPOSE: CHARITABLE | $10,000 |