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Nonprofiteer
← CORNISH FOUNDATION

Form 990 for tax year 2022

Filed by CORNISH FOUNDATION.

Totals

Total revenue
$138,746
Total expenses
$193,692
Contributions and grants received
$0
Grants paid
$182,670
Program service revenue
$0
Investment income
$138,746
Other revenue
$0
Total assets, end of year
$3,285,423
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$3,285,423
Program services expenses (Part IX)
$182,670
Management and general expenses
$11,022
Fundraising expenses
$0
Program service expenses (Part III)
$182,670

Program services were 94.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $0

  • 1g · Noncash contributions included above

    $0

  • 3 · Investment income

    total $97,001 · related or exempt $0 · unrelated business $0 · excluded $97,001

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $434,288 · other assets $0

  • 7b · Less cost or other basis and sales expenses

    securities $392,543 · other assets $0

  • 7c · Gain or loss

    securities $41,745 · other assets $0

  • 7d · Net gain or loss

    total $41,745 · related or exempt $0 · unrelated business $0 · excluded $41,745

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $182,670 · program services $182,670

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $11,022 · program services $0 · management and general $11,022 · fundraising $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 11 · Investments: publicly traded securities

    beginning of year $3,621,679 · end of year $3,285,423

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $0 · end of year $0

  • 28 · Net assets with donor restrictions

    beginning of year $3,621,679 · end of year $3,285,423

Mission and programs · 2022

Mission

Cornish Foundation provides scholarship support to students attending Cornish College of the Arts.

Activities or mission (Part I)

Support Cornish College of the Arts

  • Provide scholarship support to students at Cornish College of the Arts. Scholarships were awarded to 46 students.

    Expenses $182,670 · Grants $182,670

As filed on the 2022 return.

Listed in Part VII

  • Raymond Tymas-Jones

    President

    Total calculated
    $337,942
    From this org
    $0
    From related orgs
    $321,709
    Other
    $16,233
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $269,265 related
    Bonus
    $0
    Other
    $0 + $52,444 related
    Deferred
    $0 + $12,998 related
    Nontaxable benefits
    $0 + $3,235 related
    Filer's total
    $0 + $337,942 related

  • Deborah Treen

    VP Finance & CFO

    Total calculated
    $194,491
    From this org
    $0
    From related orgs
    $184,482
    Other
    $10,009
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $155,470 related
    Bonus
    $0
    Other
    $0 + $29,012 related
    Deferred
    $0 + $7,480 related
    Nontaxable benefits
    $0 + $2,529 related
    Filer's total
    $0 + $194,491 related

  • David Lofthouse

    Dean of Enrollment Mgmt

    Total calculated
    $194,419
    From this org
    $0
    From related orgs
    $191,575
    Other
    $2,844
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $167,429 related
    Bonus
    $0
    Other
    $0 + $24,146 related
    Deferred
    $0 + $533 related
    Nontaxable benefits
    $0 + $2,311 related
    Filer's total
    $0 + $194,419 related

  • Jessica Thurlow

    VP Academic Affairs, Provost

    Total calculated
    $187,574
    From this org
    $0
    From related orgs
    $175,640
    Other
    $11,934
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $148,281 related
    Bonus
    $0
    Other
    $0 + $27,359 related
    Deferred
    $0 + $7,214 related
    Nontaxable benefits
    $0 + $4,720 related
    Filer's total
    $0 + $187,574 related

  • Anne Derieux

    VP of Institutional Advancement

    Total calculated
    $153,743
    From this org
    $0
    From related orgs
    $133,547
    Other
    $20,196
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $133,059 related
    Bonus
    $0
    Other
    $0 + $488 related
    Deferred
    $0 + $5,913 related
    Nontaxable benefits
    $0 + $14,283 related
    Filer's total
    $0 + $153,743 related

  • James Falzone

    Academic Dean

    Total calculated
    $123,504
    From this org
    $0
    From related orgs
    $104,717
    Other
    $18,787
    Hours/week
    0 + 40 related

  • Brandon Bird

    VP of Operations

    Total calculated
    $122,459
    From this org
    $0
    From related orgs
    $114,443
    Other
    $8,016
    Hours/week
    0 + 40 related

  • Jody Cunningham

    Chair

    Total calculated
    $0
    Hours/week
    0.5

  • Chap Alvord

    Secretary/Treasurer

    Total calculated
    $0
    Hours/week
    0.5

  • Roger Bass

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
14 April 2024
IRS schema version
2022v5.0
Source object
202401069349300505

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