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← CORNISH FOUNDATION

Form 990 for tax year 2023

Filed by CORNISH FOUNDATION.

Totals

Total revenue
$187,831
Total expenses
$200,360
Contributions and grants received
$0
Grants paid
$183,450
Program service revenue
$0
Investment income
$187,831
Other revenue
$0
Total assets, end of year
$3,653,240
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$3,653,240
Program services expenses (Part IX)
$183,450
Management and general expenses
$16,910
Fundraising expenses
$0
Program service expenses (Part III)
$183,450

Program services were 91.6% 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.

  • 3 · Investment income

    total $79,914 · excluded $79,914

  • 7a · Gross sales of assets other than inventory

    securities $937,869

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

    securities $829,952

  • 7c · Gain or loss

    securities $107,917

  • 7d · Net gain or loss

    total $107,917 · excluded $107,917

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $183,450 · program services $183,450

  • 11f · Fees: investment management

    total $16,910 · management and general $16,910

Balance sheet

Part X, book values.

  • 11 · Investments: publicly traded securities

    beginning of year $3,285,423 · end of year $3,653,240

  • 27 · Net assets without donor restrictions

    beginning of year $0 · end of year $0

  • 28 · Net assets with donor restrictions

    beginning of year $3,285,423 · end of year $3,653,240

Mission and programs · 2023

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 47 STUDENTS.

    Expenses $183,450 · Grants $183,450

As filed on the 2023 return.

Listed in Part VII

  • Jody Cunningham

    CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Chap Alvord

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • Roger Bass

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Carol Munro

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Raymond Tymas-James

    PRESIDENT

    Total calculated
    $426,706
    From this org
    $0
    From related orgs
    $398,516
    Other
    $28,190
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $308,660 related
    Bonus
    $0 + $32,000 related
    Other
    $0 + $57,856 related
    Deferred
    $0 + $13,200 related
    Nontaxable benefits
    $0 + $14,990 related
    Filer's total
    $0 + $426,706 related

  • Deborah Treen

    VP FINANCE & BUDGET, CFO

    Total calculated
    $225,628
    From this org
    $0
    From related orgs
    $202,013
    Other
    $23,615
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $169,830 related
    Bonus
    $0
    Other
    $0 + $32,183 related
    Deferred
    $0 + $8,357 related
    Nontaxable benefits
    $0 + $15,258 related
    Filer's total
    $0 + $225,628 related

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

The filer's explanations (Part III)

PART I, LINE 3:
THE PRESIDENT'S COMPENSATION IS DETERMINED BY CORNISH COLLEGE SCHOOL OF THE ARTS, THE SUPPORTED ORGANIZATION. THE FOLLOWING WERE USED BY THE COLLEGE IN DETERMINING THE PRESIDENT'S COMPENSATION: A) FORM 990 OF OTHER ORGANIZATIONS B) COMPENSATION SURVEY OR STUDY C) APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE

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
2023
Filed
14 April 2025
IRS schema version
2023v6.0
Source object
202521049349301927

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