Overview
What is Cornerstone Holdings Group Inc?
Cornerstone Holdings Group Inc is a nonprofit organization situated in Avondale, Arizona. Primarily serving as a holding entity, it manages and safeguards the titles and assets of its sole member, Cornerstone Christian Center Assembly of God. The organization's income primarily stems from excess funds generated by its member. Its operational expenses encompass filing fees, interest expenses, and depreciation expenses. By holding and managing its member's assets, Cornerstone Holdings Group Inc plays a crucial role in supporting the operations of the Cornerstone Christian Center Assembly of God.
Is Cornerstone Holdings Group Inc legitimate?
Cornerstone Holdings Group Inc is a legitimate nonprofit organization registered as a 501(c)(2) entity. Cornerstone Holdings Group 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: $0
For more financial information, click here
What is the mission statement of Cornerstone Holdings Group Inc?
Cornerstone Holdings Group Inc serves as a custodian for the titles and assets of its sole member, Cornerstone Christian Center. Its primary role is to manage these resources on behalf of its member. The organization's mission can be interpreted as preserving and managing the assets of Cornerstone Christian Center, with the income primarily derived from excess funds from the member. The expenses incurred by Cornerstone Holdings Group Inc include filing fees, interest expenses, and depreciation expenses. The organization does not have a traditional mission statement focusing on societal issues or community development, but rather, it exists to maintain and manage the assets of its sole member, Cornerstone Christian Center.
Who is the CEO of Cornerstone Holdings Group Inc?
Dwight Chase is the Director of Cornerstone Holdings Group Inc. The CEO's salary of Cornerstone Holdings Group Inc is $0 and their total compensation is $0.
What is the revenue of Cornerstone Holdings Group Inc?
Cornerstone Holdings Group Inc's revenue in 2022 was $151,381.
Who are the executives of Cornerstone Holdings Group Inc and what are their salaries?
There 3 volunteers at Cornerstone Holdings Group Inc.
Here are 3 key members and their salaries (Cornerstone Holdings Group Inc's CEO's salary is $0 and their total compensation is $0):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Cornerstone Holdings Group Inc?
Cornerstone Holdings Group Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Cornerstone Holdings Group Inc
Cornerstone Holdings Group Inc, as a holding entity, fulfills a crucial role by maintaining the titles and assets of its sole member, Cornerstone Christian Center Assembly of God. In essence, the mission of Cornerstone Holdings Group Inc can be understood as safeguarding and managing the property and financial resources belonging to its affiliate, Cornerstone Christian Center. This organization acts as a steward, ensuring that excess funds generated by the church are efficiently utilized, while also taking care of filing fees, interest expenses, and depreciation expenses associated with the holding of such assets.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Cornerstone Holdings Group Inc plays a significant role in supporting the operations and sustainability of its sole member, Cornerstone Christian Center Assembly of God. By holding all titles and assets, the organization ensures that the community-focused initiatives and services provided by the Church are backed by solid financial and organizational support.
The income generated primarily from excess funds allows for reinvestment in community improvement projects and outreach programs that benefit local residents. This financial stability also means that the Church can effectively manage its resources, enabling it to focus on its mission without the distraction of managing assets separately.
Additionally, by covering essential expenses such as filing fees, interest expenses, and depreciation, Cornerstone Holdings helps to maintain the operational efficiency of the Cornerstone Christian Center. This allows the Church to allocate more resources toward community services, spiritual development, and support for those in need. Overall, Cornerstone Holdings Group Inc serves as a critical facilitator for community enhancement and the continued growth of the Cornerstone Christian Center's impact on the Avondale, AZ area.
This information is meant to be a general summary of Cornerstone Holdings Group 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: $1,450
- Gross Receipts: $151,381
Assets and Liabilities:
- Total Assets: $4,082,675
- Total Liabilities: $0
- Net Assets: $4,082,675
Want to help this charity, for free? You can click here to learn more about Give Freely
Organization Details
Founding Year
2016
Phone
(623) 877-3220Principal Officer
Dwight Chase
Main Address
11301 W Indian School Rd, Avondale, AZ, 85392
NTEE Category
Code: S47 - Community improvement
If you are a representative of Cornerstone Holdings Group Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.