Totals
- Total revenue
- $956,936
- Total expenses
- $1,082,377
- Contributions and grants received
- $141,837
- Grants paid
- $3,500
- Program service revenue
- $786,573
- Investment income
- $7,006
- Other revenue
- $21,520
- Total assets, end of year
- $4,593,599
- Total liabilities, end of year
- $836,113
- Net assets or fund balances, end of year
- $3,757,486
- Program services expenses (Part IX)
- $1,031,428
- Management and general expenses
- $50,949
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $1,031,428
Program services were 95.3% 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.
-
1d · Related organizations
$59,845
-
1e · Government grants (contributions)
$81,992
-
2a · Program service revenue: PROGRAM SERVICE REVENU
total $786,573 · related or exempt $786,573
-
3 · Investment income
total $7,006 · excluded $7,006
-
11a · Other revenue: OTHER
total $21,520 · related or exempt $21,520
-
11e · Other revenue, total
$21,520
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $3,500 · program services $3,500
-
7 · Other salaries and wages
total $315,643 · program services $277,766 · management and general $37,877
-
8 · Pension plan contributions
total $6,212 · program services $5,467 · management and general $745
-
10 · Payroll taxes
total $17,103 · program services $15,051 · management and general $2,052
-
11c · Fees: accounting
total $3,100 · management and general $3,100
-
11g · Fees: other
total $7,029 · program services $7,029
-
13 · Office expenses
total $18,440 · program services $18,440
-
16 · Occupancy
total $114,570 · program services $114,570
-
17 · Travel
total $3,381 · program services $3,381
-
19 · Conferences, conventions and meetings
total $1,796 · program services $1,796
-
20 · Interest
total $46,364 · program services $46,364
-
22 · Depreciation, depletion and amortization
total $315,957 · program services $315,957
-
23 · Insurance
total $52,638 · program services $45,463 · management and general $7,175
-
24a · Other expenses: BUILDING REPAIRS AND MA
total $85,783 · program services $85,783
-
24b · Other expenses: BUILDING INSURANCE
total $30,544 · program services $30,544
-
24c · Other expenses: SUPPLIES
total $20,212 · program services $20,212
-
24d · Other expenses: MISCELLANEOUS
total $19,011 · program services $19,011
-
24e · All other expenses
total $21,094 · program services $21,094
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $344,641 · end of year $464,205
-
3 · Pledges and grants receivable
end of year $61,416
-
4 · Accounts receivable
beginning of year $44,543 · end of year $46,699
-
10a · Land, buildings and equipment: cost or other basis
$10,650,231
-
10b · Land, buildings and equipment: accumulated depreciation
$6,628,952
-
10c · Land, buildings and equipment, net
beginning of year $4,337,236 · end of year $4,021,279
-
17 · Accounts payable and accrued expenses
beginning of year $45,822 · end of year $37,017
-
19 · Deferred revenue
end of year $6,944
-
21 · Escrow or custodial account liability
end of year $28,000
-
23 · Secured mortgages and notes payable
beginning of year $789,509 · end of year $752,040
-
25 · Other liabilities
beginning of year $8,162 · end of year $12,112
-
27 · Net assets without donor restrictions
beginning of year $3,882,927 · end of year $3,757,486
Mission and programs · 2024
Mission
THE FOUNDATION OWNS AND MANAGES A BUILDING FOR THE BENEFIT OF A GROUP OF 501(C)(3) ORGANIZATIONS THAT OCCUPY THE BUILDING.
-
THE FOUNDATION OWNS AND MANAGES THE CORNERSTONE CENTER (THE BUILDING) AT 1111 N. WELLS, CHICAGO, ILLINOIS FOR THE BENEFIT OF A GROUP OF 501(C)(3) ORGANIZATIONS THAT OCCUPY THE BUILDING. THESE ORGANIZATIONS PROVIDE EDUCATIONAL AND CHARITABLE PROGRAMS FOR THE GENERAL PUBLIC, INCLUDING A CHILD CARE CENTER AND EDUCATIONAL PROGRAMS FOR YOUTH. THESE OCCUPANTS ARE PAYING THEIR RESPECTIVE SHARE OF THE OPERATING EXPENSES OF THE BUILDING.
Expenses $1,031,428 · Grants $3,500 · Revenue $786,573
As filed on the 2024 return.
Listed in Part VII
-
Rev Randall K BlakeyREV RANDALL K BLAKEY
PRESIDENT
- Total calculated
- $112,716
- From this org
- $0
- From related orgs
- $0
- Other
- $112,716
- Hours/week
- 16
-
Todd MacmillianTODD MACMILLIAN
TREASURER
- Total calculated
- $0
- Hours/week
- 3
-
Chris FordCHRIS FORD
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Karl LaugerKARL LAUGER
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1
-
Liz VerhageLIZ VERHAGE
MEMBER
- Total calculated
- $146,000
- From this org
- $0
- From related orgs
- $0
- Other
- $146,000
- Hours/week
- 1
-
Lisa AbinojaLISA ABINOJA
MEMBER
- Total calculated
- $0
- Hours/week
- 1
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.
Grants on this return
No itemized grants to organizations 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.
-
LASALLE STREET CHURCH
CHURCH · CHURCH · IL
-
CORNERSTONE CHILD CARE CENTER
501(C)(3) · CHILD CARE · IL
-
NEAR NORTH UNITY PROGRAM
PROMOTE AND STRENGTHEN COMMUNITY COHESION IN CHICAGO'S NEAR NORTH COMMUNITY · IL
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 10 November 2025
- IRS schema version
- 2024v5.2
- Source object
- 202503169349302550
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