Nonprofit · EIN 23-2593411
CORNERSTONE FOUNDATION
Tax-exempt · ELVERSON, PA 19520
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-PF | $1,824,874 | $2,122,662 | -$297,788 | $24,634,295 | $0 | $24,634,295 |
| December 31, 2023 | 990-PF | $979,379 | $2,388,068 | -$1,408,689 | $24,837,260 | $0 | $24,837,260 |
Financial details: 990-PF for the year ended December 31, 2024
Revenue
- Dividends
- $655,051
- Interest
- $20,646
- Net gain from sales of assets
- $1,299,319
- Other income
- -$150,142
Expenses
- Grants and similar amounts paid
- $1,656,455
- Compensation of officers, directors and key employees
- $0
- Salaries, compensation and benefits (total)
- $86,715
- Disbursements for charitable purposes
- $1,742,926
- Excise tax on investment income
- $19,178
Balance sheet and other
- Total assets, start of year
- $24,837,260
- Total assets, end of year
- $24,634,295
- Total liabilities, end of year
- $0
- Net assets, end of year
- $24,634,295
- Fair market value of assets
- $27,971,228
- Qualifying distributions
- $1,742,926
- Net investment income
- $1,757,423
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-PF for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| TERRY WILD 1220 HERITAGE DRIVE, ELVERSON, PA 19520 | GENERAL FOUNDATION E Highest-paid employee | 1 | $86,715 |
| EDWARD H CONE C/O CORNERSTONE FOUNDATION 1220, HERITAGE DRIVE, ELVERSON, PA 19520 | PRESIDENT/TREASURER | 1 | $0 |
| PHILIP J CONE C/O CORNERSTONE FOUNDATION 1220, HERITAGE DRIVE, ELVERSON, PA 19520 | VICE PRESIDENT/SECRETARY | 1 | $0 |
| DERIAL H SANDERS C/O CORNERSTONE FOUNDATION 1220, HERITAGE DRIVE, ELVERSON, PA 19520 | DIRECTOR | 1 | $0 |
| STEPHEN E CONE C/O CORNERSTONE FOUNDATION 1220, HERITAGE DRIVE, ELVERSON, PA 19520 | DIRECTOR | 1 | $0 |
| JULIE ZUBER C/O CORNERSTONE FOUNDATION 1220, HERITAGE DRIVE, ELVERSON, PA 19520 | DIRECTOR | 1 | $0 |
| JANE CONE C/O CORNERSTONE FOUNDATION 1220, HERITAGE DRIVE, ELVERSON, PA 19520 | DIRECTOR | 1 | $0 |
| MICHAEL T CONE C/O CORNERSTONE FOUNDATION 1220, HERITAGE DRIVE, ELVERSON, PA 19520 | DIRECTOR | 1 | $0 |
| TIMOTHY CONE C/O CORNERSTONE FOUNDATION 1220, HERITAGE DRIVE, ELVERSON, PA 19520 | DIRECTOR | 1 | $0 |
990-PF for the year ended December 31, 2023: 8 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| TERRY WILD 1220 HERITAGE DRIVE, ELVERSON, PA 19520 | GENERAL FOUNDATION E Highest-paid employee | 1 | $69,634 |
| EDWARD H CONE C/O CORNERSTONE FOUNDATION 1220, HERITAGE DRIVE, ELVERSON, PA 19520 | PRESIDENT/TREASURER | 1 | $0 |
| ROBERT L CONE C/O CORNERSTONE FOUNDATION 1220, HERITAGE DRIVE, ELVERSON, PA 19520 | VICE PRESIDENT/SECRETARY | 1 | $0 |
| DERIAL H SANDERS C/O CORNERSTONE FOUNDATION 1220, HERITAGE DRIVE, ELVERSON, PA 19520 | DIRECTOR | 1 | $0 |
| STEPHEN E CONE C/O CORNERSTONE FOUNDATION 1220, HERITAGE DRIVE, ELVERSON, PA 19520 | DIRECTOR | 1 | $0 |
| JULIE ZUBER C/O CORNERSTONE FOUNDATION 1220, HERITAGE DRIVE, ELVERSON, PA 19520 | DIRECTOR | 1 | $0 |
| PHILIP J CONE C/O CORNERSTONE FOUNDATION 1220, HERITAGE DRIVE, ELVERSON, PA 19520 | DIRECTOR | 1 | $0 |
| MICHAEL T CONE C/O CORNERSTONE FOUNDATION 1220, HERITAGE DRIVE, ELVERSON, PA 19520 | DIRECTOR | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 1220 HERITAGE DR, ELVERSON, PA 19520-9319
- In care of
- % EDWARD H CONE
- Signed the 990-PF
- EDWARD H CONE, PRESIDENT
- Phone
- (610) 286-2946
- Return prepared by
- RKL LLP
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-PF on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-PF on file |
IRS record
- EIN
- 23-2593411
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Private non-operating foundation
- Donations deductible (Pub 78)
- Private foundation, 30% limit
- Exempt since
- 1990
- Accounting year ends
- December
- Files
- Form 990-PF
- Assets (IRS master file)
- $24,634,295
- Income (IRS master file)
- $7,454,888
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2024 | – | – | – | IRS |
| 990-T | December 2024 | – | – | – | IRS |
| 990-PF | December 2023 | $979,379 | $2,388,068 | $24,837,260 | IRS |
| 990-PF | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | – | – | – | IRS |
| 990-PF | December 2020 | – | – | – | IRS |
| 990-PF | December 2018 | – | – | – | IRS |
| 990-PF | December 2017 | – | – | – | IRS |
990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS.
Questions about CORNERSTONE FOUNDATION
- What is the EIN of CORNERSTONE FOUNDATION?
- The employer identification number (EIN) of CORNERSTONE FOUNDATION is 23-2593411.
- Is CORNERSTONE FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1990.
- Are donations to CORNERSTONE FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does CORNERSTONE FOUNDATION file?
- Form 990-PF. Private foundations file every year.
- When is the next return of CORNERSTONE FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did CORNERSTONE FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended December 2024.
- Who are the officers and directors of CORNERSTONE FOUNDATION?
- The 990-PF for the year ended December 31, 2024 lists 9 people; 1 received compensation from the organization, the highest $86,715 (TERRY WILD, GENERAL FOUNDATION E).
- How much revenue does CORNERSTONE FOUNDATION have?
- On its 990-PF for the year ended December 31, 2024 it reported revenue of $1,824,874, expenses of $2,122,662 and total assets of $24,634,295 at year end.
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