Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2006.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
94 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
8 people listed on the 990; $50K paid to officers and key staff.
Joseph Walter’s $82K as President is at the 18th percentile of top reported officer pay among 1690 $1–10M philanthropy & grantmaking nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 1 named individual · Part VII
| Name | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Joseph Walter | $82,500 | $50,000 | $10,000 | $15,000 | $62,500 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
- Loans to or from officersSch L · Pt II1 listed
Programs and updates
Funds Catholic and mission-supportive nonprofits to strengthen communities for future generations.
Questions for Cornerstone Charitable Foundation
Your first name shows with your question. Cornerstone Charitable Foundation answers here, for everyone.
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Under its endowment funding program, cornerstone maintains and administers and insurance program which involves the payment of life insurance premiums on a pool of insurance policies of which cornerstone is the owner and beneficiary.
Under its real estate program, cornerstone acquires, manages and develops real estate to strengthen catholic communities.
Under its conduit bond program, cornerstone serves as a bond issuer for other mission-supportive organizations.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2023 990, line by line.
Download 990
| Line | Start FY23 | End FY23 |
|---|---|---|
| Cash and savingsLn 1–2 | $212K | $120K |
| InvestmentsLn 11–13 | $4.5M | $4.5M |
| Land, buildings, equipmentLn 10c | $1.2M | $1.2M |
| Total assetsLn 16 | $8.8M | $7.4M |
| LiabilitiesLn 26 | $11.9M | $11.9M |
| Net assetsLn 32 | −$3.1M | −$4.6M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $68K | $68K | ||
| Pay of current officers, directors and key staffLn 5 | $50K | $20K | $30K | |
| Payroll taxesLn 10 | $4K | $2K | $2K | |
| Legal feesLn 11b | $46K | $45K | $2K | |
| Accounting feesLn 11c | $48K | $48K | ||
| Other fees for servicesLn 11g | $30K | $8K | $22K | |
| Advertising and promotionLn 12 | $4K | $4K | ||
| Office expensesLn 13 | $2K | $2K | ||
| Information technologyLn 14 | $1K | $1K | ||
| OccupancyLn 16 | $18K | $18K | ||
| Conferences, conventions and meetingsLn 19 | $236 | $236 | ||
| InterestLn 20 | $475K | $475K | ||
| Depreciation, depletion and amortizationLn 22 | $29K | $29K | ||
| InsuranceLn 23 | $2.8M | $2.8M | $892 | |
| All other expensesLn 24e | $4K | $3K | $841 | |
| Total functional expensesLn 25 | $3.5M | $3.3M | $169K | $39K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest | $1.3M | $2.2M | −$864K | −$5.4M | 990 PDF |
| FY2023 Viewing | $2.0M | $3.5M | −$1.5M | −$4.6M | 990 PDF |
| FY2022 | $1.3M | $1.4M | −$73K | −$3.1M | 990 PDF |
| FY2021 | $1.4M | $1.5M | −$106K | −$3.0M | 990 PDF |
| FY2020 | $3.0M | $1.6M | $1.4M | −$2.9M | 990 PDF |
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Schedules filed Part IV
See the full FY2023 990 (6 parts)
Part I · Summary $2,040,987 revenue, 12 lines filed
Part VI · Governance 7 of 7 board members independent, 2 to look at
Part VIII · Statement of revenue $2,040,987 across 7 lines filed
Part IX · Statement of functional expenses $3,539,557 across 15 lines filed
Part X · Balance sheet $7,370,227 assets, 16 lines filed
Part XI · Reconciliation of net assets −$4,558,749 net assets at year end
Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File
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