Cornerstone Foundation Inc
- Assets
- $46.0m
- Revenue
- $8.6m
- Investments
- $42.2m
- Employees
- 0
- Location
- Washington, DC
- Founding
- 01/2005
- Data as of
- 12/2022
- EIN
- 11-3737220
Organization Overview
Cornerstone Foundation Inc is located in Washington, DC. The organization was established in 2005. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Cornerstone 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 Foundation Inc generated $8.6m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 18.2% each year . All expenses for the organization totaled $1.8m during the year ending 12/2022. While expenses have increased by 3.4% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Cornerstone Foundation Inc has awarded 31 individual grants totaling $4,987,500. 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 |
|---|---|---|---|
Bradley J Vogt President | 1 | $0 | |
Martin Romo Trustee | 1 | $0 | |
Katherine M Vogt Treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $7,000,000 |
| Interest on Savings | $42,272 |
| Dividends & Interest | $1,550,522 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $8,592,794 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $20,888 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $4,370 |
| Total operating and administrative expenses | $114,662 |
| Contributions, gifts, grants paid | $1,700,000 |
| Total expenses and disbursements | $1,814,662 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $82,345 |
| Savings and temporary cash investments | $3,747,074 |
| 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 | $46,004,828 |
| 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, Cornerstone Foundation Inc has awarded $1,700,000 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
Rockland, ME PURPOSE: SUPPORT CHARITABLE ACTIVITIES | $300,000 |
ENVIRONMENTAL DEFENSE FUND PURPOSE: SUPPORT CHARITABLE ACTIVITIES | $300,000 |
TEACH FOR AMERICA PURPOSE: SUPPORT CHARITABLE ACTIVITIES | $200,000 |
Washington, DC PURPOSE: SUPPORT CHARITABLE ACTIVITIES | $200,000 |
PLANNED PARENTHOOD PURPOSE: SUPPORT CHARITABLE ACTIVITIES | $175,000 |
CHILDREN'S LITERACY INITIATIVE PURPOSE: SUPPORT CHARITABLE ACTIVITIES | $125,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
De Beaumont Foundation Inc Bethesda, MD | $183,698,152 | $47,357,470 |
Foundation For The Greatest Good Fulton, MD | $11,551,864 | $19,462,876 |
Young Mens Christian Association Of The Chesapeake Inc Easton, MD | $84,208,847 | $28,289,184 |
Laszlo N Tauber Family Foundation Inc North Bethesda, MD | $0 | $1,758,712 |
Breakthrough Prize In Life Sciences Foundation Washington, DC | $615,230 | $10,652,847 |
Manning Family Foundation Charlottesville, VA | $313,144,000 | $17,216,650 |
Nora Roberts Foundation Inc Glenn Dale, MD | $90,657,767 | $17,263,079 |
Fellowship Foundation Inc Arlington, VA | $7,901,984 | $7,885,643 |
Reinhart Foundation Richmond, VA | $39,727,277 | $36,137,915 |
Charles T Bauer Charitable Foundation Baltimore, MD | $0 | $6,889,193 |
Oak Hill Fund Charlottesville, VA | $99,384,131 | $7,166,197 |
Marriott Daughters Foundation Bethesda, MD | $79,408,936 | $2,865,441 |