Cornerstone Foundation Of Arkansas
- Assets
- $686.1k
- Revenue
- $14.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Bentonville, AR
- Founding
- 02/2016
- Data as of
- 12/2020
- EIN
- 46-5124290
Organization Overview
Cornerstone Foundation Of Arkansas is located in Bentonville, AR. The organization was established in 2016. 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 Of Arkansas 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 12/2020, Cornerstone Foundation Of Arkansas generated $14.4k 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 (22.6%) each year. All expenses for the organization totaled $24.2k during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (29.1%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen P Carter Co-Trustee | 5 | $0 | |
Michelle Carter Co-Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $133 |
| Dividends & Interest | $0 |
| Net Rental Income | -$7,455 |
| 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 | $14,383 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,395 |
| Depreciation | $5,565 |
| Occupancy | $13,568 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $330 |
| Total operating and administrative expenses | $23,208 |
| Contributions, gifts, grants paid | $1,000 |
| Total expenses and disbursements | $24,208 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $19,972 |
| 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 | $29,821 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $478,957 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $157,310 |
| Total assets | $686,060 |
| 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 | $600 |
| Total liabilities | $600 |
Grants Awarded
Over the last fiscal year, Cornerstone Foundation Of Arkansas has awarded $9,580 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Searcy, AR PURPOSE: BISON HELMET PROJECT | $5,000 |
BENTONVILLE CHURCH OF CHRIST PURPOSE: TO BE USED AS THE CHURCH SEES FIT | $4,580 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Jane P And Wiley L Mossy Jr Foundation Houston, TX | $339,084 | $6,855,893 |
Oakwood Foundation Charitable Tr Tupelo, MS | $13,916,638 | $13,351,239 |
Gene And Jerry Jones Family-Dallas Cowboys Charities Frisco, TX | $3,095,461 | $7,273,707 |
The Hagan Scholarship Foundation Columbia, MO | $259,194,852 | $64,132,818 |
Charis Foundation Knoxville, TN | $16,682,566 | $7,998,986 |
Marshall Legacy Foundation Metairie, LA | $37,157,594 | $21,197,543 |
Marshall Heritage Foundation Metairie, LA | $15,210,686 | $21,134,216 |
Mary E Bivins Trust Amarillo, TX | $23,577,867 | $7,091,283 |
Norman H Read 1985 Trust Amarillo, TX | $61,022,769 | $8,703,971 |
Arlene And Joseph Meraux Charitable Foundation Violet, LA | $95,291,949 | $9,307,858 |
East Texas Medical Center Regional Healthcare System Tyler, TX | $164,248,819 | $57,646,365 |
James A Buddy Davidson Charitable Foundation Midland, TX | $104,683,845 | $20,028,427 |