Cornerstone Hospice Foundation Inc
- Assets
- $13.1m
- Revenue
- $961.8k
- Investments
- $0.0
- Employees
- 12
- Location
- Tavares, FL
- Founding
- 07/1989
- Data as of
- 12/2022
- EIN
- 59-2915060
Organization Overview
Cornerstone Hospice Foundation Inc is located in Tavares, FL. The organization was established in 1989. According to its NTEE Classification (P74) the organization is classified as: Hospices, under the broad grouping of Human Services and related organizations. As of 12/2022, Cornerstone Hospice Foundation Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cornerstone Hospice 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, Cornerstone Hospice Foundation Inc generated $961.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (8.6%) each year. All expenses for the organization totaled $1.5m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (6.9%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION IS THE PHILANTHROPIC LINK IN PROVIDING AND ASSURING THE STEWARDSHIP OF THE RESOURCES TO SUPPORT HOSPICE CARE THROUGH CORNERSTONE HOSPICE & PALLIATIVE CARE INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORNERSTONE HOSPICE FOUNDATION PROVIDES RESOURCES FOR CRITICAL END-OF-LIFE SERVICES FOR INDIVIDUALS AND FAMILIES THROUGHOUT CENTRAL FLORIDA. AREAS OF FUNDING INCLUDE THE BUILDING AND OPERATIONAL SUPPORT OF 4 HOSPICE HOUSES AND 2 INPATIENT UNIT, EACH OFFERING PATIENTS A HOMELIKE SETTING WITH 24-HOUR HOSPICE CAREGIVERS, A PALLIATIVE CARE PROGRAM THAT PROVIDES IN-HOME COMFORT, EMOTIONAL SUPPORT SERVICES, AND IMPROVED QUALITY OF LIFE FOR THOSE EXPERIENCING SERIOUS, COMPLEX, OR CHRONIC ILLNESS, CHILDREN'S & COMMUNITY BEREAVEMENT PROGRAM THAT ENABLES INDIVIDUALS OF ALL AGES TO EMERGE HEALTHY FROM GRIEF EXPERIENCES, AND, HUMANITARIAN FUND THAT HELPS FAMILIES WITHOUT THE FINANCIAL MEANS TO MEET THE COST OF NECESSITIES OF DAILY LIFE, PROVIDING EMERGENCY RELIEF TO THOSE REFERRED BY OUR TEAMS OF SOCIAL WORKERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Vice Chair | OfficerTrustee | 2 | $0 |
Name Not Listed Chair | OfficerTrustee | 2 | $0 |
Name Not Listed Treasurer | OfficerTrustee | 2 | $0 |
Name Not Listed Secretary | OfficerTrustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $1,876 |
| Membership dues | $0 |
| Fundraising events | $172,053 |
| Related organizations | $0 |
| Government grants | $8,750 |
| All other contributions, gifts, grants, and similar amounts not included above | $651,595 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $834,274 |
| Total Program Service Revenue | $0 |
| Investment income | $116,426 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $27,106 |
| Net Income from Fundraising Events | -$16,021 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $961,785 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,253,831 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $172,823 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $15,000 |
| Fees for services: Investment Management | $12,915 |
| Fees for services: Other | $0 |
| Advertising and promotion | $861 |
| Office expenses | $18,381 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,696 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,319 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,598 |
| Insurance | $5,000 |
| All other expenses | $0 |
| Total functional expenses | $1,511,006 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $456,911 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $885,618 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,455,005 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $15,449 |
| Net Land, buildings, and equipment | $94,495 |
| Investments—publicly traded securities | $10,096,036 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $101,565 |
| Total assets | $13,105,079 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,111,112 |
| Total liabilities | $6,111,112 |
| Net assets without donor restrictions | $784,296 |
| Net assets with donor restrictions | $6,209,671 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $13,105,079 |
Grants Awarded
Over the last fiscal year, Cornerstone Hospice Foundation Inc has awarded $6,038,775 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CORNERSTONE HOSPICE AND PALLIATIVE CARE INC PURPOSE: General Support Program | $5,968,775 |
CORNERSTONE HEALTH SERVICES INC PURPOSE: General Program Support | $70,000 |