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The Cornerstone Foundation Incorporated FY2020 filing

Tax-deductible

Vernon, CT501(c)(3) EIN 22-2587192Revenue $1.7M in FY2020

On file with the IRScornerstone-rockville.org15 Prospect St, 06066-3215 · Vernon, CTTax-exempt since Jul 1985Publicly supported charity — 170(b)(1)(A)(vi)

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The Cornerstone Foundation is a non-profit organization based in rockville, connecticut, a former textile mill city about 15 miles northeast of hartford. The organization provides food, clothing, and shelter to those in need within their community. They also provide after school teen programs for at risk local teenagers.

501(c)(3) charity; gifts are tax-deductible.
89¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $57K a year · 2% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
89%
of spending
Looks good: 89% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.8 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
10
named funders · $596K
Looks good: 10 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$154K
26% of total assets
Looks good: liabilities are 26% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.7M
Spent
$1.6M
To programs
89%
Net assets
$440K
By yearFY2020–FY2024
Revenue
$1.7M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$1.7M
FY2021$2.3M
FY2022$2.4M
FY2023$2.9M
FY2024$2.7M
Expenses
$1.6M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$1.6M
FY2021$2.4M
FY2022$2.2M
FY2023$2.9M
FY2024$2.5M
Net assets
$440K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$440K
FY2021$385K
FY2022$500K
FY2023$459K
FY2024$652K

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 1985.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

89 cents of each dollar spent went to programs.

Program services 89% · $1.4M Management & general 11% · $170K Fundraising 0% · $5K

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

12 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Dick Carterud
Assistant Tr
$0Pt VII · Sec A
Joel Defelice
Member-At-La
$0Pt VII · Sec A
Michael Keating
Member-At-La
$0Pt VII · Sec A
Susan Mason
Member-At-La
$0Pt VII · Sec A
Brian Motola
Member-At-La
$0Pt VII · Sec A
Nicole Orahood
Member-At-La
$0Pt VII · Sec A
$0Pt VII · Sec A
See The Cornerstone Foundation Incorporated executive salaries →

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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

Programs and updates

Provides food, clothing, shelter, and teen programs for community members in need.

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Provided by the organization

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3 programs · $1.4M · in their own filed words · FY2020
01

Community Kitchen

Provides a dignified environment serving between 3,500 and 4,000 meals per month. Also a food pantry that provides assistance to those needing some extra help who meet the federal guidelines for food assistance.

$760Kprogram expense
02

Clothing Bank

Donated clothing and household goods are taken in, sorted, and distributed free of charge wherever there is a need.

$370Kprogram expense
03

Shelter

A facility to provide temporary shelter for individuals in the area needing a warm, safe place to spend the night.

$236Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Journey Home IncorporatedFY2024$285K
Donor Advised Charitable Giving INCFY2024$105K
The US Charitable Gift TrustFY2024$51K
Greater Hartford Gives FoundationFY2024$45K
American Online Giving Foundation INCFY2024$35K
Network for Good INCFY2024$30K
Fidelity Investments Charitable Gift FundFY2024$16K
Connecticut Association of Realtors Foundation INCFY2024$10K
Total grants receivedfrom 10 funders$596K
See all 10 funders →

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.7M
Ln 12
Gifts and grantsLn 1h$1.6M
Other incomeLn 4–11$38K
Investment incomeLn 3$32
Money outPt IX
$1.6M
Ln 25
Programscol B$1.4M
Managementcol C$170K
Fundraisingcol D$5K
Owns and owesPt X
$440K
net assets · Ln 32
Cash and savingsLn 1–2$111K
Total assetsLn 16$594K
LiabilitiesLn 26$154K
PeoplePt VI, VII
12
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.6M
Government grantsLn 1e$53K
Noncash giftsLn 1g$981K
Investment incomeLn 3$32
Other incomeLn 4–11$38K
Total revenueLn 12$1.7M
Assets in detailPt X, end of year
SavingsLn 2$111K
Cash and savings togetherLn 1–2$111K
Land, buildings, equipmentLn 10c$425K
Total assetsLn 16$594K
LiabilitiesLn 26$154K
Net assetsLn 32$440K
OperationsPt I, VI
EmployeesI 523
VolunteersI 6600
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$42K$111K
Land, buildings, equipmentLn 10c$424K$425K
Total assetsLn 16$579K$594K
LiabilitiesLn 26$213K$154K
Net assetsLn 32$366K$440K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$329K$218K$111K
Other employee benefitsLn 9$18K$7K$11K
Payroll taxesLn 10$26K$20K$7K
Accounting feesLn 11c$11K$246$11K
Other fees for servicesLn 11g$4K$2K$2K
Office expensesLn 13$982K$973K$8K$972
OccupancyLn 16$90K$87K$3K
TravelLn 17$2K$2K
InterestLn 20$9K$38$9K
Depreciation, depletion and amortizationLn 22$22K$22K
InsuranceLn 23$35K$28K$7K
Other expenses (24a–d)Ln 24$53K$48K$1K$4K
Total functional expensesLn 25$1.6M$1.4M$170K$5K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $2.7M$2.5M$192K$652K 990 PDF
FY2023 $2.9M$2.9M−$43K$459K 990 PDF
FY2022 $2.4M$2.2M$117K$500K 990 PDF
FY2021 $2.3M$2.4M−$55K$385K 990 PDF
FY2020 Viewing $1.7M$1.6M$74K$440K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $1,655,427 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,262,654$1,617,145
I-9 Program service revenue$0
I-10 Investment incomePrior year $10$32
I-11 Other revenuePrior year $22,947$38,250
I-12 Total revenuePrior year $1,285,611$1,655,427
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $263,362$373,196
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,147,102$1,208,012
I-18 Total expensesPrior year $1,410,464$1,581,208
I-19 Revenue less expensesPrior year −$124,853$74,219
Part VI · Governance 12 of 12 board members independent, 3 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,655,427 across 9 lines filed
VIII-1e Government grants$53,367
VIII-1f All other contributions, gifts and grants$1,563,778
VIII-1g Noncash contributions (included above)$980,587
VIII-1h Total contributions, gifts and grants$1,617,145
VIII-3 Investment incomeExcluded from tax $32$32
VIII-6 Net rental income or lossRelated to mission $13,119$13,119
VIII-8 Net income from fundraising events$24,482
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $649$649
VIII-12 Total revenueRelated to mission $13,768 · Excluded from tax $32$1,655,427
Part IX · Statement of functional expenses $1,581,208 across 12 lines filed
IX-7 Other salaries and wagesPrograms $217,601 · Management $111,012$328,613
IX-9 Other employee benefitsPrograms $6,641 · Management $11,499$18,140
IX-10 Payroll taxesPrograms $19,713 · Management $6,730$26,443
IX-11c Accounting feesPrograms $246 · Management $11,178$11,424
IX-11g Other fees for servicesPrograms $2,408 · Management $1,543$3,951
IX-13 Office expensesPrograms $972,934 · Management $8,143 · Fundraising $972$982,049
IX-16 OccupancyPrograms $86,518 · Management $3,071$89,589
IX-17 TravelPrograms $1,951$1,951
IX-20 InterestPrograms $38 · Management $8,553$8,591
IX-22 Depreciation, depletion and amortizationPrograms $22,425$22,425
IX-23 InsurancePrograms $27,712 · Management $6,929$34,641
IX-24 Other expenses (24a–d)Programs $48,363 · Management $1,038 · Fundraising $3,990$53,391
IX-25 Total functional expensesPrograms $1,406,550 · Management $169,696 · Fundraising $4,962$1,581,208
Part X · Balance sheet $594,060 assets, 12 lines filed
X-2 Savings and temporary cash investmentsStart of year $42,021$110,570
X-3 Pledges and grants receivableStart of year $102,000$42,000
X-9 Prepaid expenses and deferred chargesStart of year $7,091$12,566
X-10c Land, buildings and equipment, netStart of year $423,825$425,353
X-14 Intangible assetsStart of year $4,075$3,571
X-16 Total assetsStart of year $579,012$594,060
X-17 Accounts payable and accrued expensesStart of year $11,398$30,164
X-25 Other liabilitiesStart of year $64,756$795
X-26 Total liabilitiesStart of year $213,171$154,000
X-27 Net assets without donor restrictionsStart of year $278,523$440,060
X-32 Total net assets or fund balancesStart of year $365,841$440,060
X-33 Total liabilities and net assetsStart of year $579,012$594,060
Part XI · Reconciliation of net assets $440,060 net assets at year end
XI-1 Total revenue$1,655,427
XI-2 Total expenses$1,581,208
XI-3 Revenue less expenses$74,219
XI-4 Net assets at start of year$365,841
XI-10 Net assets at end of year$440,060

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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