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Cornerstone Corporation FY2020 filing

Tax-deductible

Saint Louis, MO501(c)(3)HousingEIN 43-1108915Revenue $499K in FY2020

On file with the IRScornerstonestl.org6030 Etzel Ave, 63112-2122 · Saint Louis, MOTax-exempt since Nov 1977Publicly supported — 509(a)(2)

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Cornerstone Corporation is a Christian Community Development Corporation that provides an equitable opportunity for quality, affordable housing to those who would not otherwise have it; empowers constituents to grow their capacity to achieve their life goals with dignity; and collaborates with others for community driven development of the West End neighborhood.

501(c)(3) charity; gifts are tax-deductible.
47¢ 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
4 of 5
filings with a surplus
Average surplus $146K a year · 25% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
47%
of spending
Concern: 47% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
12 mo
of spending, in cash
Looks good: 11.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $900K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$241K
39% of total assets
Looks good: liabilities are 39% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$499K
Spent
$362K
To programs
47%
Net assets
$375K
By yearFY2020–FY2024
Revenue
$499K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$499K
FY2021$993K
FY2022$957K
FY2023$507K
FY2024$0
Expenses
$362K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$362K
FY2021$561K
FY2022$663K
FY2023$637K
FY2024$0
Net assets
$375K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$375K
FY2021$807K
FY2022$1.1M
FY2023$970K
FY2024$970K

From the FY2020 Form 990 · 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 Nov 1977.

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

Where the money goes

47 cents of each dollar spent went to programs.

Program services 47% · $170K Management & general 52% · $187K Fundraising 2% · $6K

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

9 people listed on the 990.

Part VII, Section A · reportable compensation
Jeremy Moore
President
$0Pt VII · Sec A
Maurice Alan
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Lisa Potts
Director
$0Pt VII · Sec A
Paul Savage
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Eva Steffels
Director
$0Pt VII · Sec A
See Cornerstone Corporation 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

Builds affordable housing and empowers residents for community development.

Questions for Cornerstone Corporation

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Provided by the organization

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1 program · $170K · in their own filed words · FY2020
01

Cornerstone Corporation is a Christian Community Development Corporation that provides an equitable opportunity for quality, affordable housing to those who would not otherwise have it; empowers constituents to grow their capacity to achieve their life goals with dignity; and collaborates with others for community driven development of…

$170Kprogram 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
Neighborhood Solidarity FundFY2024$900K
Total grants receivedfrom 1 funder$900K

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$499K
Ln 12
Gifts and grantsLn 1h$411K
Fees for servicesLn 2g$88K
Money outPt IX
$362K
Ln 25
Programscol B$170K
Managementcol C$187K
Fundraisingcol D$6K
Owns and owesPt X
$375K
net assets · Ln 32
Cash and savingsLn 1–2$353K
Total assetsLn 16$616K
LiabilitiesLn 26$241K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$411K
Government grantsLn 1e$411K
Fees for servicesLn 2g$88K
Total revenueLn 12$499K
Assets in detailPt X, end of year
CashLn 1$344K
SavingsLn 2$9K
Cash and savings togetherLn 1–2$353K
Land, buildings, equipmentLn 10c$264K
Total assetsLn 16$616K
LiabilitiesLn 26$241K
Net assetsLn 32$375K
OperationsPt I, VI
EmployeesI 55
VolunteersI 630
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
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$194K$353K
Land, buildings, equipmentLn 10c$754K$264K
Total assetsLn 16$948K$616K
LiabilitiesLn 26$206K$241K
Net assetsLn 32$742K$375K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$77K$77K
Other fees for servicesLn 11g$167K$167K
Office expensesLn 13$18K$18K
InterestLn 20$7K$7K
Depreciation, depletion and amortizationLn 22$16K$16K
InsuranceLn 23$21K$21K
Other expenses (24a–d)Ln 24$57K$49K$2K$6K
Total functional expensesLn 25$362K$170K$187K$6K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $0$0$0$970K 990 PDF
FY2023 $507K$637K−$131K$970K 990 PDF
FY2022 $957K$663K$294K$1.1M 990 PDF
FY2021 $993K$561K$432K$807K 990 PDF
FY2020 Viewing $499K$362K$137K$375K 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 (6 parts)
Part I · Summary $499,207 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $289,741$411,127
I-9 Program service revenuePrior year $199,955$88,080
I-10 Investment incomePrior year $6,449$0
I-11 Other revenuePrior year $910$0
I-12 Total revenuePrior year $497,055$499,207
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $102,714$77,095
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $259,725$285,344
I-18 Total expensesPrior year $362,439$362,439
I-19 Revenue less expensesPrior year $134,616$136,768
Part VI · Governance 9 of 9 board members independent, 2 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-13 Written whistleblower policyNo
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-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $499,207 across 5 lines filed
VIII-1e Government grants$410,632
VIII-1f All other contributions, gifts and grants$495
VIII-1h Total contributions, gifts and grants$411,127
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Excluded from tax $88,080$88,080
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $88,080$499,207
Part IX · Statement of functional expenses $362,439 across 7 lines filed
IX-7 Other salaries and wagesPrograms $77,095$77,095
IX-11g Other fees for servicesManagement $167,152$167,152
IX-13 Office expensesManagement $17,986$17,986
IX-20 InterestPrograms $6,590$6,590
IX-22 Depreciation, depletion and amortizationPrograms $15,941$15,941
IX-23 InsurancePrograms $20,756$20,756
IX-24 Other expenses (24a–d)Programs $49,155 · Management $1,799 · Fundraising $5,965$56,919
IX-25 Total functional expensesPrograms $169,537 · Management $186,937 · Fundraising $5,965$362,439
Part X · Balance sheet $616,354 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $130,140$343,745
X-2 Savings and temporary cash investmentsStart of year $64,014$8,821
X-10c Land, buildings and equipment, netStart of year $754,069$263,788
X-16 Total assetsStart of year $948,223$616,354
X-17 Accounts payable and accrued expensesStart of year $3,959$18,629
X-24 Unsecured notes and loans payable$193,615
X-26 Total liabilitiesStart of year $206,476$241,368
X-27 Net assets without donor restrictionsStart of year $741,747$374,986
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $741,747$374,986
X-33 Total liabilities and net assetsStart of year $948,223$616,354
Part XI · Reconciliation of net assets $374,986 net assets at year end
XI-1 Total revenue$499,207
XI-2 Total expenses$362,439
XI-3 Revenue less expenses$136,768
XI-4 Net assets at start of year$741,747
XI-5 Net unrealized gains (losses) on investments−$3,131
XI-8 Prior period adjustments−$500,398
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$374,986

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

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