Cornerstone Foundation
- Assets
- $746.1k
- Revenue
- -$6.4k
- Investments
- $705.1k
- Employees
- 0
- Location
- Cincinnati, OH
- Founding
- 03/1988
- Data as of
- 12/2022
- EIN
- 31-1220787
Organization Overview
Cornerstone Foundation is located in Cincinnati, OH. The organization was established in 1988. 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. Cornerstone Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Since 2015, Cornerstone Foundation has awarded 164 individual grants totaling $1,381,411. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
N/A
N/A
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ronald H Mcswain President/treasurer | 0 | $0 | |
Phyllis Mcswain Vice President | 0 | $0 | |
Jason Mcswain Secretary | 0 | $0 | |
Julie Carnes Director | 0 | $0 | |
Michelle Bacon Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $10,776 |
| Interest on Savings | $0 |
| Dividends & Interest | $12,286 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$29,494 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | -$6,432 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $452 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $3,452 |
| Contributions, gifts, grants paid | $51,800 |
| Total expenses and disbursements | $55,252 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,411 |
| Savings and temporary cash investments | $30,636 |
| 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 | $705,089 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $746,136 |
| 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 has awarded $51,800 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
CHCA PURPOSE: CHARITABLE | $3,500 |
CHILD'S HOPE PURPOSE: CHARITABLE | $1,000 |
CINCINNATI WOMAN'S CLUB PURPOSE: CHARITABLE | $100 |
CITY GOSPEL MISSION PURPOSE: CHARITABLE | $600 |
JOBS PLUS PURPOSE: CHARITABLE | $1,500 |
OLIVET NAZARENE UNIVERSITY PURPOSE: CHARITABLE | $10,000 |