Nonprofit · EIN 27-5159255
CORNERSTONE INITIATIVE INC
Tax-exempt · HUNTSVILLE, AL 35804
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $327,112 | $256,090 | $71,022 | $326,014 | $6,768 | $319,246 |
| December 31, 2023 | 990 | $319,236 | $243,897 | $75,339 | $256,575 | $8,351 | $248,224 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $319,572
- Program service revenue
- $0
- Investment income
- $5,433
- Other revenue
- $2,107
Expenses
- Grants and similar amounts paid
- $0
- Other salaries and wages
- $176,597
- Salaries, compensation and benefits (total)
- $216,436
- Professional fundraising fees
- $0
- Accounting fees
- $750
- Occupancy
- $4,487
- Program services (functional)
- $256,090
Balance sheet and other
- Total assets, start of year
- $256,575
- Total assets, end of year
- $326,014
- Total liabilities, end of year
- $6,768
- Net assets, end of year
- $319,246
- Net assets without donor restrictions
- $319,246
- Gross receipts
- $327,112
- Employees
- 4
- Year formed
- 2011
- State of legal domicile
- AL
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 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| TERRY BOYD | BOARD PRESIDENT Trustee or director, Officer | 0 | $0 |
| DOCQUINN TAYLOR | VICE PRESIDENT Trustee or director, Officer | 0 | $0 |
| SARAH COLLINS | SECRETARY Trustee or director, Officer | 0 | $0 |
| BRANDON CARRIN | TREASURER Trustee or director, Officer | 0 | $0 |
| DAVID MYRICK | DIRECTOR Trustee or director | 0 | $0 |
| JOHANN MOORE | DIRECTOR Trustee or director | 0 | $0 |
| JANE DANIEL | DIRECTOR Trustee or director | 0 | $0 |
| BILL NASH | SPIRITUAL DIRECTOR Trustee or director | 0 | $0 |
| ELIZABETH FEICK | DIRECTOR Trustee or director | 0 | $0 |
990 for the year ended December 31, 2023: 8 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| BRANDON CARRIN | DIRECTOR Trustee or director | 0 | $0 |
| KATIE HERR | DIRECTOR Trustee or director | 0 | $0 |
| BILL NASH | SPIRITUAL DIRECTOR Trustee or director | 0 | $0 |
| JANE DANIEL | DIRECTOR Trustee or director | 0 | $0 |
| DOCQUINN TAYLOR | VICE PRESIDENT Trustee or director, Officer | 0 | $0 |
| TERRY BOYD | BOARD PRESIDENT Trustee or director, Officer | 0 | $0 |
| CALEB FICKEN | TREASURER Trustee or director, Officer | 0 | $0 |
| ELIZABETH JACOBUS | SECRETARY Trustee or director, Officer | 0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 391, HUNTSVILLE, AL 35804-0391
- In care of
- % DEBORAH M AKERS
- Signed the 990
- DEBORAH M AKERS, EXECUTIVE DIRECTOR
- Phone
- (256) 694-5393
- Website
- www.cornerstone-al.com
- Return prepared by
- Brenda J Morrison CPA PC
Mission
The CornerStone Initiative is a faith-based nonprofit organization committed to encouraging and equipping men and women in Madison County, Alabama as they navigate a pathway out ofpoverty to a place of sustainable self-sufficiency.
Program accomplishments
- The CornerStone Initiative is a faith-based nonprofit organizatuion committed to encouraging and equipping men and women in Madison County, Alabama as they navigate a pathway out of poverty to a place of sustainable self-sufficiency.Expenses $256,090
- SEE SCHEDULE O
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. 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 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 27-5159255
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2013
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S47)
- Assets (IRS master file)
- $326,014
- Income (IRS master file)
- $327,112
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $327,112 | $256,090 | $326,014 | IRS |
| 990 | December 2023 | $319,236 | $243,897 | $256,575 | XML |
| 990 | December 2022 | $216,620 | $227,554 | $180,170 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 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 (search EIN 27-5159255).
Questions about CORNERSTONE INITIATIVE INC
- What is the EIN of CORNERSTONE INITIATIVE INC?
- The employer identification number (EIN) of CORNERSTONE INITIATIVE INC is 27-5159255.
- Is CORNERSTONE INITIATIVE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2013.
- Are donations to CORNERSTONE INITIATIVE INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does CORNERSTONE INITIATIVE INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of CORNERSTONE INITIATIVE INC 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 INITIATIVE INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who are the officers and directors of CORNERSTONE INITIATIVE INC?
- The 990 for the year ended December 31, 2024 lists 9 people; 0 received compensation from the organization.
- How much revenue does CORNERSTONE INITIATIVE INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $327,112, expenses of $256,090 and total assets of $326,014 at year end.
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