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Nonprofiteer
← CORNERSTONE FOUNDATION INC

Form 990 for tax year 2022

Filed by CORNERSTONE FOUNDATION INC.

Totals

Total revenue
$1,877,324
Total expenses
$687,957
Contributions and grants received
$1,384,563
Grants paid
$580,386
Program service revenue
$0
Investment income
$492,761
Other revenue
$0
Total assets, end of year
$24,541,629
Total liabilities, end of year
$458,961
Net assets or fund balances, end of year
$24,082,668
Program services expenses (Part IX)
$580,386
Management and general expenses
$70,388
Fundraising expenses
$37,183
Program service expenses (Part III)
$580,386

Program services were 84.4% 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.

  • 1f · All other contributions, gifts and grants

    $1,384,563

  • 3 · Investment income

    total $505,040 · excluded $505,040

  • 7a · Gross sales of assets other than inventory

    securities $3,610,900

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

    securities $3,623,179

  • 7c · Gain or loss

    securities -$12,279

  • 7d · Net gain or loss

    total -$12,279 · excluded -$12,279

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $580,386 · program services $580,386

  • 11a · Fees: management

    total $19,161 · fundraising $19,161

  • 11b · Fees: legal

    total $15,552 · management and general $15,552

  • 11c · Fees: accounting

    total $6,676 · management and general $6,676

  • 11f · Fees: investment management

    total $45,447 · management and general $45,447

  • 11g · Fees: other

    total $193 · management and general $193

  • 13 · Office expenses

    total $2,677 · management and general $2,520 · fundraising $157

  • 14 · Information technology

    total $13,426 · fundraising $13,426

  • 17 · Travel

    total $1,232 · fundraising $1,232

  • 19 · Conferences, conventions and meetings

    total $3,207 · fundraising $3,207

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $158,523 · end of year $203,042

  • 11 · Investments: publicly traded securities

    beginning of year $19,413,308 · end of year $22,995,752

  • 15 · Other assets

    beginning of year $2,003,664 · end of year $1,342,835

  • 25 · Other liabilities

    beginning of year $468,451 · end of year $458,961

  • 27 · Net assets without donor restrictions

    beginning of year $13,522,840 · end of year $14,856,482

  • 28 · Net assets with donor restrictions

    beginning of year $7,584,204 · end of year $9,226,186

Mission and programs · 2022

Mission

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. LSSI TOUCHES THE LIVES OF TENS OF THOUSANDS OF PEOPLE EACH YEAR, SERVING PEOPLE OF ALL AGES, RACES, RELIGIOUS, AND ECONOMIC CIRCUMSTANCES. LSSI HAS MORE THAN 190 PROGRAMS AT MORE THAN 80 SITES IN THE STATE OF ILLINOIS. THESE PROGRAMS CARE FOR SENIOR ADULTS, STRENGTHEN FAMILIES, HELP CHILDREN AND ADULTS DURING TIMES OF CRISIS, AND ASSIST THOSE WHO HAVE CHALLENGES RELATED TO DEVELOPMENTAL DISABILITIES OR ADDICTION PROBLEMS.

Activities or mission (Part I)

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.

  • LUTHERAN SOCIAL SERVICES OF ILLINOIS PROGRAM SERVICE GRANTS.

    Expenses $580,386 · Grants $580,386

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Mark A Stutrud

    CEO

    Total calculated
    $821,672
    From this org
    $0
    From related orgs
    $758,395
    Other
    $63,277
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $288,424 related
    Bonus
    $0 + $60,000 related
    Other
    $0 + $409,971 related
    Deferred
    $0 + $44,979 related
    Nontaxable benefits
    $0 + $18,298 related
    Filer's total
    $0 + $821,672 related

  • David Novak

    VP OF ADVANCEMENT

    Total calculated
    $205,323
    From this org
    $0
    From related orgs
    $179,222
    Other
    $26,101
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $158,362 related
    Bonus
    $0 + $15,000 related
    Other
    $0 + $5,860 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $26,101 related
    Filer's total
    $0 + $205,323 related

  • Lisa Sroga

    VP FINANCE/CFO

    Total calculated
    $202,748
    From this org
    $0
    From related orgs
    $199,395
    Other
    $3,353
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $179,867 related
    Bonus
    $0 + $15,000 related
    Other
    $0 + $4,528 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $3,353 related
    Filer's total
    $0 + $202,748 related

  • Dottie Garrity Exec Dir

    STRATEGIC INFORMATION (TERM. 09/2022)

    Total calculated
    $128,673
    From this org
    $0
    From related orgs
    $120,681
    Other
    $7,992
    Hours/week
    1 + 39 related

  • David K Wilds

    DIR OF TREASURY SERVICES

    Total calculated
    $0
    Hours/week
    1 + 39 related

  • Pr Michel Clark

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    0.4

  • Carol A Poplawski

    VICE CHAIRPERSON

    Total calculated
    $0
    Hours/week
    0.4

  • Mary Ann Smith

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.4

  • Thomas Cunniff

    TREASURER

    Total calculated
    $0
    Hours/week
    0.4

  • Marcia A Anderson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.4

  • Susan Bernardi

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.4

  • Stephen Bishop

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.4

  • Pr Greg Busboom

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.4

  • William Bill S Fleck

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.4

  • Connie Frankenfeld

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.4

  • Pr John Freidheim

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.4

  • Susan Gilpin

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.4

  • Ronald Kok-Alblas

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.4

  • Nancy Nagel

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.4

  • Roland Person

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.4

  • Charles Price

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.4

  • Pr Art Puotinen

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.4

  • Jon A Theeke Jr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.4

  • Mark Tomaw

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.4

  • Bonalynn Wallach

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.4

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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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

The filer's explanations (Part III)

PART I, LINE 3
ALL OFFICERS ARE EMPLOYEES OF LUTHERAN SOCIAL SERVICES OF ILLINOIS (LSSI), A RELATED ORGANIZATION. LSSI USES THE FOLLOWING METHODS TO ESTABLISH THE COMPENSATION OF THE CEO: COMPENSATION COMMITTEE; WRITTEN EMPLOYMENT CONTRACT; AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.
PART I, LINE 4B
MARK STUTRUD, CEO OF LSSI, IS ENTITLED TO BENEFITS UNDER A 457F PLAN MAINTAINED BY LSSI. DURING FY23, THE AMOUNT ACCRUED WAS $44,979 AND MARK RECEIVED A PAYOUT OF $400,000.

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • LSSI ROCKFORD PROPERTY INC

    C · HOUSING · IL

Provenance

Return type
form_990
Tax year
2022
Filed
15 April 2024
IRS schema version
2022v5.0
Source object
202441069349301829

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