Cornerstone Foundation FY2023 filing

Hospital Biloxi, MS EIN 64-0819423 NTEE Q300
Revenue
$792K
▼ -14%
FY2023 · Pt VIII · Ln 12
Expenses
$691K
▼ -12%
FY2023 · Pt IX · Ln 25
Net assets
$2.3M
FY2023 · Pt X · Ln 32
To programs
84%
FY2023 · Pt IX · col B
Revenue & expenses by yearFY2020–FY2024
Revenue
$792K
FY2023▼ -14%
Expenses
$691K
FY2023▼ -12%

Provides medical care and shares the Gospel with people on Honduras' North Coast.

Is this your organization?
Claim it free, then get the verified mark.
Claim
Tax-deductible?
Yes
Per the IRS master file. Details →
Can I give now?
No revocation on IRS record
Not on the IRS revocation list. Details →
Filing up to date?
Filed FY2024 (typical filing lag)
Foundation funders?
4 funders, incl. Fidelity Investments Charitable Gift Fund
$37K in the latest grant year. Details →
Spent on programs?
84% to programs
Form 990 Part IX, latest filing. Details →
Size and trend
$100K–1M
↓ -14% vs prior year Details →

Form 990 for the fiscal year ending December 2023 (IRS tax year 2023).


Provides medical care and shares the Gospel with people on Honduras' North Coast.

Type
Hospital · International
Location
Biloxi, MS
Website
www.crstone.org
Filings
5 on file (2020–2023)
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →
Compare with another nonprofit →
Provided by the organization

This section is blank until Cornerstone Foundation claims this page.

Know this organization? Claim it to add your story

Where the money goes · FY2023
Where spending went · Part IX cols B–D
Program services $0.84 Management & general $0.16
Operating surplus
+13%
revenue over expenses, this legal entity
Payroll share
29%
of this entity's spending is salaries & benefits
Program spending
84%
of expenses reach program services

Similar organizations you could support

Closest in mission — by what they do
See all organizations like Cornerstone Foundation →

Run this organization? Claim this page

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Total assets
$2.3M
FY2023▲ +4%
Total liabilities
$45K
FY2023▼ -22%
Revenue less expensesPt I · Ln 19$101K
Total assetsPt X · Ln 16$2.3M
Program-expense ratioPt IX · col B84%
Voting members of governing bodyPt I · Ln 316
Independent voting membersPt I · Ln 49

Identity & Classification

Form 990 Header · IRS Business Master File
Legal name (IRS)Hdr · item CCornerstone Foundation
EINHdr · item D64-0819423
Principal addressHdr · item CBiloxi, MS
WebsiteHdr · item Jwww.crstone.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMS
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFInternational (Q300)
Ruling yearIRS BMFApr 1994

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a16
Independent voting membersPt VI · Ln 1b9
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Grant Manager
$42,982Pt VII · Sec A
$42,982Pt VII · Sec A
Communications
$0Pt VII · Sec A
Conferences
$0Pt VII · Sec A
Recorder
$0Pt VII · Sec A
General Advisor
$0Pt VII · Sec A
General Advisor
$0Pt VII · Sec A
General Advisor
$0Pt VII · Sec A

Rosanne McKenney’s $55K as Grant Manager is at the 50th percentile of top reported officer pay among 1636 $100K–1M international 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 · 3 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Rosanne McKenney$54,814$42,982$42,982$40,170$39,000
Dr Jeff McKenney$54,814$42,982$42,982$40,170$39,000
Sally Mahoney———$803$720

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.

See Cornerstone Foundation executive salaries →

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

Mission & Programs · Part III

Where the work happens

3 program services account for $581K of program spending, described in the organization's own filed words · FY2023.
01

Hospital loma de luz cared for approximately 27,396 patients of minimal resources offering full-time medical care of the highest quality in areas of family practice, pediatrics, cardiology, internal medicine, surgery, and maternal child health and dentistry. Medical clinics were open 5 days per week.

$494Kprogram expense
02

Escuela el camino offered classes for full time students including geography, art, music and reading. Support for all public schools in the area in obtaining libraries, offering special programs, and helping CONSTRUCT/UPGRADE schools. Held week long annual missionary kids camp for kids all over honduras.

$87Kprogram expense
03

Ongoing HOUSING/CARE of poorest patient families and patients from other parts of the country at the sanctuary center and childrens center.

$96program expense

Run this program? Claim this org to tell your story

Statement of Revenue

Part VIII
Contributions & grants100%$791K
Investment income$1K
Total revenueLn 12$792K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.84 Management & general $0.16
Program services84%$581K
Management & general16%$110K
Total functional expensesLn 25$691K

Balance Sheet

Part X · end of year
CashLn 1$763K
Total assetsLn 16$2.3M
Total liabilitiesLn 26$45K
Total net assetsLn 32$2.3M
Months of cash on handcomputed13.3

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $763K · Operating expenses/yr $691K
13.3 months
Where the money goes
Program services
Program services $581K · Total expenses $691K
84%
Management & General
Management & general $110K · Total expenses $691K
16%
Fundraising
Fundraising $0 · Total expenses $691K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $961K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $791K · Total revenue $792K
100%
Government reliance
Government grants — · Total revenue $792K
—
Earned-income share
Program service revenue $0 · Total revenue $792K
0%
Investment reliance
Investment income $1K · Total revenue $792K
+0.2%
Program self-sufficiency
Program service revenue $0 · Total expenses $691K
0%
Growth & trend
Revenue growth (YoY)
This year $792K · Prior year $922K
-14%
Net-asset trend (YoY)
End of year $2.3M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $792K · Expenses $691K
+13%
Liabilities-to-Assets
Total liabilities — · Total assets $2.3M
—
Net-asset ratio
Net assets $2.3M · Total assets $2.3M
98%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $2.3M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Rosanne McKenney · Reported title GRANT MANAGER · Highest reported compensation $43K · Total expenses $691K
6%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $201K · Total expenses $691K
29%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 84%——
Overhead ratio 16%——
Fundraising cost ratio 0%——
Revenue growth -14%——
Accounting fee ratio 2%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2024
See all 4 funders →

Compare

Search another nonprofit to view revenue, expenses, assets, key metrics, and leaders side by side

Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$857K revenue · ⤓ 990 PDF
FY2023$792K revenue · viewing · ⤓ 990 PDF
FY2022$922K revenue · ⤓ 990 PDF
FY2021$1.2M revenue · ⤓ 990 PDF
FY2020$1.1M revenue · ⤓ 990 PDF

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

Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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

Keep this kind of thing free
Keep public charity data easy to read.

Free to the public, because obviously. Like this? Pay it forward. Don't like this? Help us get better.

Card, Apple Pay or Google Pay through Stripe. One time.

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 peer-cohort and compensation comparisons above.