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Cornerstone Foundation INC FY2020 filing

Tax-deductible

Des Plaines, IL501(c)(3)Human ServicesEIN 36-3289363

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Responding to the gospel, the Cornerstone Foundation is the endowment ensuring the ministries and future of lutheran social services of illinois (lssi). The Cornerstone Foundation is responsible for developing active support for the social services provided by lssi.

501(c)(3) charity; gifts are tax-deductible.
88¢ 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $875K a year · 52% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
8 mo
of spending, in cash
Looks good: 7.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $100K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$500K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
25
of 25 voting members
Looks good: 25 of 25 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$514K
Spent
$828K
To programs
88%
Net assets
$20.4M
By yearFY2020–FY2025
Revenue
$514K
FY2020
Revenue by fiscal year
FY2020$514K
FY2021$753K
FY2022$2.1M
FY2023$1.9M
FY2024$3.2M
FY2025$1.6M
Expenses
$828K
FY2020
Expenses by fiscal year
FY2020$828K
FY2021$453K
FY2022$630K
FY2023$688K
FY2024$960K
FY2025$1.3M
Net assets
$20.4M
FY2020
Net assets by fiscal year
FY2020$20.4M
FY2021$22.4M
FY2022$21.1M
FY2023$24.1M
FY2024$29.1M
FY2025$31.4M

From the FY2020 Form 990 (year ending June 2020) · 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 (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 1988.

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

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $728K Management & general 4% · $31K Fundraising 8% · $70K

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

25 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
$0Pt VII · Sec A
David Novak
VP of Advancement
$0Pt VII · Sec A
Lisa Sroga
VP Finance/CFO/Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Thomas J Kelly
Director of Treasury Services
$0Pt VII · Sec A
PR Michael Clark
Chairperson
$0Pt VII · Sec A
Carol a Poplawski
Vice Chairperson
$0Pt VII · Sec A
$0Pt VII · Sec A
See Cornerstone Foundation INC 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 15aNo

Programs and updates

Ensures and supports the future of Lutheran social services through active fundraising.

Provided by the organization

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1 program · $728K · in their own filed words · FY2019
01

Lutheran social services of illinois program service grants.

$728Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2021
Fidelity Investments Charitable Gift FundFY2021$100K
Total grants receivedfrom 1 funder$100K
Grants paid · 7 grants · $4.3M · 2019–2024
Lutheran Social Services of IllinoisIL · FY2024$1,200,039
Lutheran Social Services of IllinoisIL · FY2023$849,847
Lutheran Social Services of IllinoisIL · FY2022$580,386
Lutheran Social Services of IllinoisIL · FY2021$478,081
Lutheran Social Service of MinnesotaMN · FY2021$80,250
Lutheran Social Services of IllinoisIL · FY2020$365,337
Lutheran Social Services of IllinoisIL · FY2019$727,576

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$514K
Ln 12
Gifts and grantsLn 1h$300K
Investment incomeLn 3$256K
Money outPt IX
$828K
Ln 25
Programscol B$728K
Managementcol C$31K
Fundraisingcol D$70K
Owns and owesPt X
$20.4M
net assets · Ln 32
Cash and savingsLn 1–2$541K
Total assetsLn 16$20.9M
LiabilitiesLn 26$500K
PeoplePt VI, VII
25
listed · VII A
PaidVII A0
Voting boardVI 1a25
IndependentVI 1b25
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$300K
Investment incomeLn 3$256K
Gains on assetsLn 7$72K
Total revenueLn 12$514K
Assets in detailPt X, end of year
CashLn 1$541K
Cash and savings togetherLn 1–2$541K
InvestmentsLn 11–13$7.7M
Other assetsLn 15$12.7M
Total assetsLn 16$20.9M
LiabilitiesLn 26$500K
Net assetsLn 32$20.4M
OperationsPt I, VI
EmployeesI 50
VolunteersI 621
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$441K$541K
InvestmentsLn 11–13$18.2M$7.7M
Total assetsLn 16$21.1M$20.9M
LiabilitiesLn 26$532K$500K
Net assetsLn 32$20.6M$20.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$728K$728K
Management feesLn 11a$15K$15K
Legal feesLn 11b$21K$21K
Accounting feesLn 11c$9K$9K
Professional fundraising feesLn 11e$34K$34K
Investment management feesLn 11f$7K$7K
Other fees for servicesLn 11g$148$148
Office expensesLn 13$518$398$120
Information technologyLn 14$10K$10K
TravelLn 17$942$942
Conferences, conventions and meetingsLn 19$2K$2K
Total functional expensesLn 25$828K$728K$31K$70K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.6M$1.3M$301K$31.4M 990 PDF
FY2024 $3.2M$960K$2.3M$29.1M 990 PDF
FY2023 $1.9M$688K$1.2M$24.1M 990 PDF
FY2022 $2.1M$630K$1.5M$21.1M 990 PDF
FY2021 $753K$453K$300K$22.4M 990 PDF
FY2020 Viewing $514K$828K−$315K$20.4M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (4 parts)
Part VIII · Statement of revenue $513,599 across 6 lines filed
VIII-1f All other contributions, gifts and grants$300,426
VIII-1h Total contributions, gifts and grants$300,426
VIII-3 Investment incomeExcluded from tax $184,307$184,307
VIII-7 Net gain or loss on sales of assetsExcluded from tax $71,783$71,783
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax −$42,917−$42,917
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $213,173$513,599
Part IX · Statement of functional expenses $828,467 across 11 lines filed
IX-1 Grants to domestic organizationsPrograms $727,576$727,576
IX-11a Management feesFundraising $14,651$14,651
IX-11b Legal feesManagement $21,484$21,484
IX-11c Accounting feesManagement $9,223$9,223
IX-11e Professional fundraising feesFundraising $34,335$34,335
IX-11f Investment management feesFundraising $6,872$6,872
IX-11g Other fees for servicesFundraising $148$148
IX-13 Office expensesManagement $398 · Fundraising $120$518
IX-14 Information technologyFundraising $10,266$10,266
IX-17 TravelFundraising $942$942
IX-19 Conferences, conventions and meetingsFundraising $2,452$2,452
IX-25 Total functional expensesPrograms $727,576 · Management $31,105 · Fundraising $69,786$828,467
Part X · Balance sheet $20,863,285 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $440,669$541,032
X-11 Publicly traded securitiesStart of year $18,193,603$7,669,640
X-15 Other assetsStart of year $2,485,445$12,652,613
X-16 Total assetsStart of year $21,119,717$20,863,285
X-25 Other liabilitiesStart of year $532,438$500,114
X-26 Total liabilitiesStart of year $532,438$500,114
X-27 Net assets without donor restrictionsStart of year $14,630,806$14,424,553
X-28 Net assets with donor restrictionsStart of year $5,956,473$5,938,618
X-32 Total net assets or fund balancesStart of year $20,587,279$20,363,171
X-33 Total liabilities and net assetsStart of year $21,119,717$20,863,285
Part XI · Reconciliation of net assets $20,363,171 net assets at year end
XI-1 Total revenue$513,599
XI-2 Total expenses$828,467
XI-3 Revenue less expenses−$314,868
XI-4 Net assets at start of year$20,587,279
XI-5 Net unrealized gains (losses) on investments$90,760
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$20,363,171

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

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