Stephen L Cornwell Foundation
- Assets
- $7.2m
- Revenue
- $372.5k
- Investments
- $6.6m
- Employees
- 0
- Location
- Charlotte, NC
- Founding
- 01/2015
- Data as of
- 12/2022
- EIN
- 47-1747243
Organization Overview
Stephen L Cornwell Foundation is located in Charlotte, NC. The organization was established in 2015. 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. Stephen L Cornwell 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 12/2022, Stephen L Cornwell Foundation generated $372.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (27.1%) each year. All expenses for the organization totaled $352.3k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Stephen L Cornwell Foundation has awarded 41 individual grants totaling $720,000. 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 |
|---|---|---|---|
Allison C Moss Dir/pres And Treas. | 15 | $24,000 | |
W Lee Cornwell Dir/vice Pres. | 0 | $0 | |
Stephen L Cornwell Dir/secretary | 0 | $0 | |
Brooke M Cornwell Dir/asst. Secretary | 0 | $0 | |
Samuel I Moss Director | 0 | $0 | |
Katie S Cornwell Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $10,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $150,277 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $212,248 |
| Capital Gain Net Income | $212,248 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $372,525 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $24,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $35,245 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $249 |
| Total operating and administrative expenses | $62,304 |
| Contributions, gifts, grants paid | $290,000 |
| Total expenses and disbursements | $352,304 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $184,431 |
| Savings and temporary cash investments | $410,724 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $7,153,855 |
| 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 | $144 |
| Total liabilities | $144 |
Grants Awarded
Over the last fiscal year, Stephen L Cornwell Foundation has awarded $290,000 in support to 20 organizations.
| Grant Recipient | Amount |
|---|---|
BEST NC PURPOSE: PROGRAM SUPPORT. | $25,000 |
BLACK CHILD DEVELOPMENT INSTITUTE-CHARLOTTE PURPOSE: PROGRAM SUPPORT. | $20,000 |
CHARLOTTE BILINGUAL PRESCHOOL PURPOSE: TO ASSIST IN EDUCATIONAL OPPORTUNITIES. | $20,000 |
INVEST EARLY NC PURPOSE: PROGRAM SUPPORT. | $5,000 |
HEART MATH TUTORING PURPOSE: PROGRAM SUPPORT. | $20,000 |
FOUNDATION FOR THE CAROLINAS READ CHARLOTTE PURPOSE: TO ASSIST IN EDUCATIONAL OPPORTUNITIES. | $45,000 |