Joel Cornette Foundation Inc
- Assets
- $178.1k
- Revenue
- $121.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Cincinnati, OH
- Founding
- 12/2017
- Data as of
- 12/2021
- EIN
- 82-1742872
Organization Overview
Joel Cornette Foundation Inc is located in Cincinnati, OH. The organization was established in 2017. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Joel Cornette 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 12/2021, Joel Cornette Foundation Inc generated $121.8k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 24.7% each year . All expenses for the organization totaled $22.9k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO DEVELOP, SUPPORT, AND PROVIDE GUIDANCE TO ALL LEVELS OF ATHLETES THROUGH EDUCATION, SCHOLARSHIPS, WELLNESS AND COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIP ENDOWMENT
WELLNESS & COMMUNITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joel C Cornette Vice Preside | OfficerTrustee | 3 | $0 |
Christi H Cornette President | OfficerTrustee | 5 | $0 |
Mark Bartelstein Trustee | Trustee | $0 | |
Jordan H Cornette Trustee | Trustee | 1 | $0 |
Chris Denari Trustee | Trustee | $0 | |
Al Early Trustee | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $71,498 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $61,511 |
| Noncash contributions included in lines 1a–1f | $27,924 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $133,009 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$11,301 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $96 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $121,804 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $11,000 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,409 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $8,919 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $523 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $22,851 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $178,081 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $178,081 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $178,081 |
| Total liabilities and net assets/fund balances | $178,081 |
Grants Awarded
Over the last fiscal year, Joel Cornette Foundation Inc has awarded $135,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Durham, NC PURPOSE: TEACHING,RESEARCH,CA | $100,000 |
Lexington, KY PURPOSE: ATHLETIC CAMPS FOR C | $25,000 |
Cincinnati, OH PURPOSE: SCHOLARSHIP ENDOWMEN | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Joel Cornette Foundation Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Calipari Foundation Inc Lexington, KY PURPOSE: NON PROFIT ACTIVITY SUPPORT | $5,000 |
Calipari Foundation Inc Lexington, KY PURPOSE: NON PROFIT ACTIVITY SUPPORT | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Jewell Educational Fund Owosso, MI | $398,993,901 | $18,985,075 |
Lola G Duff & William Duff Ii Scholarship Fund Pittsburgh, PA | $108,136,539 | $9,727,539 |
Catholic Education Foundation Inc Louisville, KY | $34,954,329 | $8,681,774 |
Perkins Malo Hunter Foundation Holland, MI | $51,295,166 | -$331,905 |
Thompson Foundation Plymouth, MI | $5,518,000 | $2,844,461 |
Independence Foundation Philadelphia, PA | $78,719,217 | $2,815,934 |
The Endowment Fund Of The Phi Kappa Psi Fraternity Indianapolis, IN | $26,119,752 | $5,253,152 |
Beta Theta Pi Foundation Oxford, OH | $33,085,697 | $6,703,723 |
Addison Gibson Foundation Pittsburgh, PA | $46,529,076 | $11,633,912 |
Cardinal Health Foundation Dublin, OH | $40,394,329 | $2,713,784 |
Say Yes Cleveland Scholarship Inc Cleveland, OH | $89,649,014 | $4,775,644 |
Pittsburgh Jewish Educational Improvement Foundation Pittsburgh, PA | $252,999 | $3,355,550 |