Overview
What is Cornerstone Public Asset Fund Inc?
Cornerstone Public Asset Fund Inc is a non-profit organization that works in collaboration with local communities and municipalities to foster economic growth. They function as a supporting entity to Cornerstone Alliance, a public charity, and their primary mission revolves around the development and implementation of economic development projects. By partnering with local communities, they aim to create sustainable growth and improve the overall well-being of the areas they serve.
What are the reviews and ratings of this charity?
Charity Navigator rating: 87% (Three-Star out of Four Star rating)
Cornerstone Public Asset Fund Inc has achieved a solid Three-Star rating with an overall score of 87%, primarily derived from its strong Accountability & Finance metrics. The organization demonstrates excellent governance with a fully independent board and a complete absence of material asset diversion. This commitment to transparency and accountability is reflected in their robust financial oversight practices.
The nonprofit boasts impressive financial ratios, including a program expense ratio of 87.64%, indicating that a significant majority of its funds are directed towards its programs rather than administrative costs. Additionally, its fundraising efficiency is commendable, with no fundraising costs reported, further highlighting its effective financial management. The organization also maintains a healthy working capital ratio of 3.88 years, ensuring financial stability for its operations.
While the ratings reflect strong performance in accountability and financial management, no specific information was provided regarding the organization’s programmatic impact or community engagement. Potential donors and stakeholders may wish to explore these aspects further to gain a comprehensive understanding of Cornerstone Public Asset Fund Inc's overall effectiveness and mission fulfillment.
This AI summary has been generated from information found on Charity Navigator.
Is Cornerstone Public Asset Fund Inc legitimate?
Cornerstone Public Asset Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cornerstone Public Asset Fund Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,174,272
For more financial information, click here
What is the mission statement of Cornerstone Public Asset Fund Inc?
Cornerstone Public Asset Fund Inc is dedicated to fostering economic growth in collaboration with local communities and municipalities. It functions as a supporting organization to Cornerstone Alliance, a public charity. The organization's mission is to work hand-in-hand with these entities to stimulate economic development and growth. By doing so, it aims to contribute positively to the overall well-being and progress of the communities it serves.
Who is the CEO of Cornerstone Public Asset Fund Inc?
Christopher J Cook is the Vice President of Cornerstone Public Asset Fund Inc.
What is the revenue of Cornerstone Public Asset Fund Inc?
Cornerstone Public Asset Fund Inc's revenue in 2022 was $6,344,021.
Who are the executives of Cornerstone Public Asset Fund Inc and what are their salaries?
The average compensation at Cornerstone Public Asset Fund Inc during 2022 was $10,975. There are 107 employees and 50 volunteers at Cornerstone Public Asset Fund Inc.
Here are 9 key members and their salaries:
- Compensation: $0
- Related: $262,776
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $88,462
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $167,042
- Related: $0
- Other: $20,000
Where can I find the form 990 for Cornerstone Public Asset Fund Inc?
Cornerstone Public Asset Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Cornerstone Public Asset Fund Inc
The Cornerstone Public Asset Fund Inc is dedicated to fostering economic growth in collaboration with local communities and municipalities. This organization acts as a supporting entity to Cornerstone Alliance, a public charity. Their mission is centered around partnering with communities and municipalities to stimulate economic growth. They function as a supportive organization, contributing to the charitable efforts of Cornerstone Alliance.
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Impact
June, 2024
Cornerstone Public Asset Fund Inc's impact lies in its dedication to fostering economic growth in collaboration with local communities and municipalities. By serving as a supporting organization to Cornerstone Alliance, a public charity, this entity plays a vital role in the development and execution of initiatives aimed at enhancing the economic landscape of Benton Harbor. Through its commitment to economic growth, Cornerstone Public Asset Fund Inc contributes to the prosperity and sustainability of the local environment, ultimately creating a more thriving and resilient community.
This information is meant to be a general summary of Cornerstone Public Asset Fund Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $5,474
- Program Service Revenue: $2,602,924
- Gross Receipts: $8,261,672
Assets and Liabilities:
- Total Assets: $25,339,428
- Total Liabilities: $1,681,744
- Net Assets: $23,657,684
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PUBLIC GOLF COURSE
Revenue
$2,602,924
Organization Details
Founding Year
2013
Phone
(269) 925-6100Principal Officer
Christopher J Cook
Main Address
80 W MAIN ST, BENTON HARBOR, MI, 49022
NTEE Category
Code: C30 - Environment
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