philanthropy.org | 990 Resource | FAQ Verify yourself
Sign in

Cornerstone Foundation INC FY2022 filing

Tax-deductible

Des Plaines, IL501(c)(3)Human ServicesEIN 36-3289363Revenue $2.1M in FY2022

On file with the IRSlssi.org1001 E Touhy Ave Ste 50, 60018-5817 · Des Plaines, ILTax-exempt since Apr 1988Church — 170(b)(1)(A)(i)

This page gets seen. Tell your story. Claim this org.

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.
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

FY2022 · 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
89%
of spending
Looks good: 89% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Looks good: 3.0 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
$468K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
21
of 21 voting members
Looks good: 21 of 21 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.1M
+182% vs prior year
Spent
$630K
To programs
89%
Net assets
$21.1M
By yearFY2020–FY2025
Revenue
$2.1M
FY2022▲ +182%
Tap a bar for its year
Revenue by fiscal year
FY2020$514K
FY2021$753K
FY2022$2.1M
FY2023$1.9M
FY2024$3.2M
FY2025$1.6M
Expenses
$630K
FY2022▲ +39%
Tap a bar for its year
Expenses by fiscal year
FY2020$828K
FY2021$453K
FY2022$630K
FY2023$688K
FY2024$960K
FY2025$1.3M
Net assets
$21.1M
FY2022▼ -6%
Tap a bar for its year
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 FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

Give Claim
You’re viewing the FY2022 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

89 cents of each dollar spent went to programs.

Program services 89% · $558K Management & general 5% · $29K Fundraising 7% · $43K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? The org can add a note here. Claim this org to fix it.

Who runs it and what they're paid

25 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
$0Pt VII · Sec A
David Novak
VP of Advancement
$0Pt VII · Sec A
Dottie Garrity
Exec Dir Strategic Information
$0Pt VII · Sec A
Lisa Sroga
VP Finance/CFO
$0Pt VII · Sec A
David K Wilds
Dir of Treasury Services
$0Pt VII · Sec A
PR Michel 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 →

Are you one of these people? Claim this org to confirm your role

Something off? The org can add a note here. Claim this org to fix it.

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.

Questions for Cornerstone Foundation INC

Tap to ask. Cornerstone Foundation INC sees how many people are interested.

Your first name shows with your question. Cornerstone Foundation INC answers here, for everyone.

Provided by the organization

Know this organization? Claim it to add your story

1 program · $558K · in their own filed words · FY2021
01

Lutheran social services of illinois program service grants.

$558Kprogram 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 FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.1M
Ln 12
Gifts and grantsLn 1h$1.8M
Investment incomeLn 3$306K
Money outPt IX
$630K
Ln 25
Programscol B$558K
Managementcol C$29K
Fundraisingcol D$43K
Owns and owesPt X
$21.1M
net assets · Ln 32
Cash and savingsLn 1–2$159K
Total assetsLn 16$21.6M
LiabilitiesLn 26$468K
PeoplePt VI, VII
25
listed · VII A
PaidVII A0
Voting boardVI 1a21
IndependentVI 1b21
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.8M
Investment incomeLn 3$306K
Gains on assetsLn 7$6K
Total revenueLn 12$2.1M
Assets in detailPt X, end of year
CashLn 1$159K
Cash and savings togetherLn 1–2$159K
InvestmentsLn 11–13$19.4M
Other assetsLn 15$2.0M
Total assetsLn 16$21.6M
LiabilitiesLn 26$468K
Net assetsLn 32$21.1M
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 FY22End FY22
Cash and savingsLn 1–2$208K$159K
InvestmentsLn 11–13$10.2M$19.4M
Total assetsLn 16$22.9M$21.6M
LiabilitiesLn 26$484K$468K
Net assetsLn 32$22.4M$21.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$558K$558K
Management feesLn 11a$14K$14K
Legal feesLn 11b$20K$20K
Accounting feesLn 11c$9K$9K
Investment management feesLn 11f$17K$17K
Other fees for servicesLn 11g$139$139
Office expensesLn 13$259$146$113
Information technologyLn 14$10K$10K
TravelLn 17$885$885
Conferences, conventions and meetingsLn 19$2K$2K
Total functional expensesLn 25$630K$558K$29K$43K

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 Viewing $2.1M$630K$1.5M$21.1M 990 PDF
FY2021 $753K$453K$300K$22.4M 990 PDF
FY2020 $514K$828K−$315K$20.4M 990 PDF

Want to add your own materials alongside these filings? Claim this org

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 FY2022 990 (6 parts)
Part I · Summary $2,125,942 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $510,802$1,820,386
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $242,420$305,556
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $753,222$2,125,942
I-13 Grants and similar amounts paidPrior year $365,337$558,331
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $11,250$0
I-17 Other expensesPrior year $76,614$71,974
I-18 Total expensesPrior year $453,201$630,305
I-19 Revenue less expensesPrior year $300,021$1,495,637
Part VI · Governance 21 of 21 board members independent, 1 to look at
VI-1a Voting members of the governing body21
VI-1b Independent voting members21
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $2,125,942 across 5 lines filed
VIII-1f All other contributions, gifts and grants$1,820,386
VIII-1h Total contributions, gifts and grants$1,820,386
VIII-3 Investment incomeExcluded from tax $299,511$299,511
VIII-7 Net gain or loss on sales of assetsExcluded from tax $6,045$6,045
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $305,556$2,125,942
Part IX · Statement of functional expenses $630,305 across 10 lines filed
IX-1 Grants to domestic organizationsPrograms $558,331$558,331
IX-11a Management feesFundraising $13,764$13,764
IX-11b Legal feesManagement $19,848$19,848
IX-11c Accounting feesManagement $8,521$8,521
IX-11f Investment management feesFundraising $16,610$16,610
IX-11g Other fees for servicesFundraising $139$139
IX-13 Office expensesManagement $146 · Fundraising $113$259
IX-14 Information technologyFundraising $9,644$9,644
IX-17 TravelFundraising $885$885
IX-19 Conferences, conventions and meetingsFundraising $2,304$2,304
IX-25 Total functional expensesPrograms $558,331 · Management $28,515 · Fundraising $43,459$630,305
Part X · Balance sheet $21,575,495 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $208,017$158,523
X-11 Publicly traded securitiesStart of year $10,226,906$19,413,308
X-15 Other assetsStart of year $12,475,869$2,003,664
X-16 Total assetsStart of year $22,910,792$21,575,495
X-25 Other liabilitiesStart of year $483,928$468,451
X-26 Total liabilitiesStart of year $483,928$468,451
X-27 Net assets without donor restrictionsStart of year $16,122,208$13,522,840
X-28 Net assets with donor restrictionsStart of year $6,304,656$7,584,204
X-32 Total net assets or fund balancesStart of year $22,426,864$21,107,044
X-33 Total liabilities and net assetsStart of year $22,910,792$21,575,495
Part XI · Reconciliation of net assets $21,107,044 net assets at year end
XI-1 Total revenue$2,125,942
XI-2 Total expenses$630,305
XI-3 Revenue less expenses$1,495,637
XI-4 Net assets at start of year$22,426,864
XI-5 Net unrealized gains (losses) on investments−$2,753,623
XI-9 Other changes in net assets−$61,834
XI-10 Net assets at end of year$21,107,044

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.