Cornerstone Associates Inc
- Assets
- $4.1m
- Revenue
- $2.8m
- Investments
- $532.8k
- Employees
- 0
- Location
- Corvallis, OR
- Founding
- 03/1965
- Data as of
- 06/2024
- 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. 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 06/2024, Cornerstone Associates Inc generated $2.8m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.3%) each year. All expenses for the organization totaled $2.3m during the year ending 06/2024. As we would expect to see with falling revenues, expenses have declined by (3.2%) 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
2024
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 DEVELOPMENTAL 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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth Smith Executive Dir. | Officer | 40 | $106,332 |
Peter Ball Board Member | Trustee | 1 | $0 |
Debra Hammond Board Member | Trustee | 2 | $0 |
Stan Selfridge Treasurer | Trustee | 2 | $0 |
Becky Dilley President | Officer | 2 | $0 |
John Mentler Board Member | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $254,093 |
| All other contributions, gifts, grants, and similar amounts not included above | $12,921 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $267,014 |
| Total Program Service Revenue | $2,362,441 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,786,499 |
| 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. | $106,332 |
| Compensation of current officers, directors, key employees. | $106,332 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,390,383 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $63,957 |
| Payroll taxes | $121,568 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,153 |
| Fees for services: Accounting | $23,776 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,014 |
| Advertising and promotion | $8,430 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,460 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,973 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $127,579 |
| Insurance | $102,766 |
| All other expenses | $110,081 |
| Total functional expenses | $2,306,533 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,923,764 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $422,869 |
| 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 | $49,961 |
| Net Land, buildings, and equipment | $1,104,172 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $532,832 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $72,013 |
| Total assets | $4,105,611 |
| Accounts payable and accrued expenses | $377,522 |
| 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 | $147,347 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $524,869 |
| Net assets without donor restrictions | $3,580,742 |
| Net assets with donor restrictions | $0 |
| 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 | $4,105,611 |