Cornerstone Equities Charitable Trust
- Assets
- $552.5k
- Revenue
- $39.0k
- Investments
- $527.4k
- Employees
- 0
- Location
- Ada, OK
- Founding
- 02/2017
- Data as of
- 12/2023
- EIN
- 81-4282433
Organization Overview
Cornerstone Equities Charitable Trust is located in Ada, OK. The organization was established in 2017. 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 Equities Charitable Trust 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 12/2023, Cornerstone Equities Charitable Trust generated $39.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (25.4%) each year. All expenses for the organization totaled $17.5k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTION TO MAMA T'S INC., 222 E 12TH ADA, OK 74820
ADA SENIOR CARE CENTER, INC - 301 E KINGS RD ADA, OK 74820
FAMILY CRISIS CENTER - 605 E 12TH ST ADA, OK 74820
UNITY POINT COUNSELING & RESOURCE CENTER - 901 W 18TH ADA, OK 74820
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William J Dillon III Director | 0 | $0 | |
Victoria Davison Director | 0 | $0 | |
Name Not Listed Trust Office | 0 | $6,073 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $24,600 |
| Interest on Savings | $9,291 |
| Dividends & Interest | $8,201 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$3,060 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $39,032 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $6,073 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $137 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $6,210 |
| Contributions, gifts, grants paid | $11,314 |
| Total expenses and disbursements | $17,524 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $25,040 |
| 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 | $552,460 |
| 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 Equities Charitable Trust has awarded $11,314 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
MAMA TS INC PURPOSE: CHARITABLE CONTRIBUTION | $5,814 |
CASA - CHILD CARE COTTAGE PURPOSE: CHARITABLE CONTRIBUTION | $1,000 |
ADA SENIOR CARE CENTER PURPOSE: CHARITABLE CONTRIBUTION | $1,500 |
FAMILY CRISIS CENTER OF ADA PURPOSE: CHARITABLE CONTRIBUTION | $1,500 |
UNITY POINT COUNSELING & RESOURCE C PURPOSE: CHARITABLE CONTRIBUTION | $1,000 |
THE SALVATION ARMY PURPOSE: CHARITABLE CONTRIBUTION | $500 |