Cornerstone Associates Inc
- Assets
- $2.5m
- Revenue
- $2.3m
- Investments
- $135.5k
- Employees
- 55
- Location
- Corvallis, OR
- Founding
- 03/1965
- Data as of
- 06/2021
- EIN
- 93-0517401
Organization Overview
Cornerstone Associates Inc is located in Corvallis, OR. The organization was established in 1965. According to its NTEE Classification (J30) the organization is classified as: Vocational Rehabilitation, under the broad grouping of Employment and related organizations. As of 06/2021, Cornerstone Associates Inc employed 55 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cornerstone Associates 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 06/2021, Cornerstone Associates Inc generated $2.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.7%) each year. All expenses for the organization totaled $2.0m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (6.7%) per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
CREATE MEANINGFUL COMMUNITY INVOLVEMENT FOR PEOPLE WITH INTELLECTUAL AND DEVELOPMENTAL DISABILITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE TRAINING END EMPLOYMENT TO APPROXIMATELY 150 INDIVIDUALS WITH INTELLECTUAL AND DEVEOPMENTAL DISABILITIES IN A COMMUNITY, INDUSTRIAL, AND BUSINESS SETTING. THE DESIRED OUTCOME IS SUSTAINED, PAID EMPLOYMENT, AND WORK EXPERIENCE WHICH MAY LEAD TO FURTHER CARRER DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth Smith Executive Di | Officer | 40 | $78,000 |
Becky Dilley President | OfficerTrustee | 1 | $0 |
Sherrie Payne Vice-Preside | OfficerTrustee | 1 | $0 |
Susan Zaremba Secretary | OfficerTrustee | 1 | $0 |
John Mentler Treasurer | OfficerTrustee | 1 | $0 |
Peter Ball Board Member | Trustee | 1 | $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 | $548,028 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $548,028 |
| Total Program Service Revenue | $1,711,865 |
| Investment income | $4,834 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $44,333 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,320,974 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $78,000 |
| Compensation of current officers, directors, key employees. | $19,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $976,878 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $172,878 |
| Payroll taxes | $122,059 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $27,974 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $43,469 |
| Advertising and promotion | $4,875 |
| Office expenses | $42,542 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $109,947 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $64,350 |
| Insurance | $34,848 |
| All other expenses | $73,489 |
| Total functional expenses | $1,960,546 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,847 |
| Savings and temporary cash investments | $1,196,127 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $136,523 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $59,294 |
| Net Land, buildings, and equipment | $860,841 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $135,546 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $72,445 |
| Total assets | $2,469,623 |
| Accounts payable and accrued expenses | $76,380 |
| 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 | $489,296 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $565,676 |
| Net assets without donor restrictions | $1,892,103 |
| Net assets with donor restrictions | $11,844 |
| 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 | $2,469,623 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Cornerstone Associates Inc has recieved totaling $63.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $63 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Abilitypath Redwood City, CA | $17,118,764 | $22,585,248 |
Tierra Del Sol Foundation Sunland, CA | $15,777,671 | $21,233,220 |
Northern California Inalliance Sacramento, CA | $14,812,049 | $20,528,387 |
Vocational Improvement Program Inc Rancho Cucamonga, CA | $11,426,905 | $18,954,396 |
Desertarc Palm Desert, CA | $13,861,862 | $17,111,228 |
North Bay Rehabilitation Services Rohnert Park, CA | $31,738,550 | $17,650,975 |
Vocational Development Foundation Portland, OR | $279,670,535 | $51,140,022 |
Santa Ana Police Officers Assoc Benefit Trust Santa Ana, CA | $28,131,813 | $15,200,082 |
Garten Services Inc Salem, OR | $12,418,958 | $12,378,391 |
Vtc Enterprises Santa Maria, CA | $14,919,120 | $11,441,559 |
Living Opportunities Inc Medford, OR | $7,202,652 | $8,872,920 |
Southern Oregon Aspire Inc Grants Pass, OR | $7,197,686 | $10,800,506 |