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Nonprofit · EIN 35-1804398

CORNERSTONE CENTER FOR THE ARTS INC

Tax-exempt · MUNCIE, IN 47305

Financials

$734K$815K2023$916K$643K2024
Revenue Expenses · by fiscal year end
Financials of CORNERSTONE CENTER FOR THE ARTS INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$915,682$642,910$272,772$2,019,268$221,812$1,797,456
December 31, 2023990$734,036$814,557-$80,521$1,729,817$250,302$1,479,515
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$712,914
Program service revenue
$176,056
Investment income
$568
Net gain from sales of assets
$81
Other revenue
$26,144

Expenses

Grants and similar amounts paid
$0
Other salaries and wages
$193,924
Salaries, compensation and benefits (total)
$233,915
Professional fundraising fees
$0
Accounting fees
$2,835
Occupancy
$86,836
Depreciation
$103,305
Program services (functional)
$424,508
Management and general (functional)
$202,973
Fundraising (functional)
$15,429

Balance sheet and other

Total assets, start of year
$1,729,817
Total assets, end of year
$2,019,268
Total liabilities, end of year
$221,812
Net assets, end of year
$1,797,456
Land, buildings and equipment
$1,695,485
Publicly traded securities
$9,718
Net assets without donor restrictions
$1,682,891
Net assets with donor restrictions
$114,565
Gross unrelated business income
$107,212
Gross receipts
$915,682
Employees
29
Volunteers
50
Year formed
1988
State of legal domicile
IN

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.

NameTitleHours / weekCompensation
CAROL BRADSHAWCHAIR
Trustee or director, Officer
5$0
KOURTNEY MCCAULIFFSECRETARY
Trustee or director, Officer
5$0
JULIE TERHUNETREASURER
Trustee or director, Officer
5$0
BARBARA SCHAFERPAST CHAIR/T
Trustee or director, Officer
5$0
GARY ADDISONDIRECTOR
Trustee or director
0.5$0
CARRIE BRADSHAWDIRECTOR
Trustee or director
0.5$0
KIM GILLENWATERDIRECTOR
Trustee or director
0.5$0
HOLLY JUIPDIRECTOR
Trustee or director
0.5$0
IAN ROBERTSONDIRECTOR
Trustee or director
0.5$0
TANYA SHANEYFELTDIRECTOR
Trustee or director
0.5$0
KIRSTEN SMITHDIRECTOR
Trustee or director
0.5$0
DR MARIA WILLIAMS-HAWKINSDIRECTOR
Trustee or director
0.5$0
ALLEN WISELEYDIRECTOR
Trustee or director
0.5$0
990 for the year ended December 31, 2023: 12 people
NameTitleHours / weekCompensation
CAROL BRADSHAWCHAIR
Trustee or director, Officer
5$0
ALLEN WISELEYVICE CHAIR
Trustee or director, Officer
5$0
KOURTNEY MCCAULIFFSECRETARY
Trustee or director, Officer
5$0
BARBARA SCHAFERPAST CHAIR/T
Trustee or director, Officer
5$0
CARRIE BRADSHAWDIRECTOR
Trustee or director
0.5$0
DR MARIA WILLIAMS-HAWKINSDIRECTOR
Trustee or director
0.5$0
KIRSTEN SMITHDIRECTOR
Trustee or director
0.5$0
IAN ROBERTSONDIRECTOR
Trustee or director
0.5$0
GARY ADDISONDIRECTOR
Trustee or director
0.5$0
JULIE TERHUNEDIRECTOR
Trustee or director
0.5$0
HOLLY JUIPDIRECTOR
Trustee or director
0.5$0
KIM GILLENWATERDIRECTOR
Trustee or director
0.5$0

Address and contacts

Address (IRS master file)
520 E MAIN ST, MUNCIE, IN 47305-1834
Principal officer (990 for 2024)
CAROL BRADSHAW, 520 E MAIN ST, MUNCIE, IN 47305
Signed the 990
KOURTNEY MCCAULIFF, SECRETARY
Phone
(765) 281-9503
Return prepared by
ESTEP BURKEY SIMMONS LLC

Mission

TO PROVIDE A BUILDING FOR THE PROMOTION OF THE ARTS IN THE COMMUNITY, AND TO ESTABLISH AND MAINTAIN DIVERSE ART PROGRAMS TO BE ADMINISTERED IN A SAFE LEARNING ENVIRONMENT FOR CHILDREN AND ADULTS.

990 for the year ended December 31, 2024

Program accomplishments

  • THE BUILDING IS THE HOME OF ART CLASSES FOR ALL AGES, INCLUDING STRING, PIANO, FLUTE, DANCE, VISUAL ARTS, AND SIGN LANGUAGE. COMMUNITY EVENTS ARE HOSTED THROUGHOUT THE YEAR, AND MEMBERS OF THE COMMUNITY BENEFIT FROM THE SPACE AVAILABLE TO RENT. THE ORGANIZATION SPONSORS VARIOUS CULTURAL PROGRAMS FOR CHILDREN AND ADULTS IN THE COMMUNITY. ENROLLMENT VARIES BY PROGRAM.
    Expenses $424,508 · revenue $176,056

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 yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
35-1804398
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
1990
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$2,019,268
Income (IRS master file)
$915,682

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$915,682$642,910$2,019,268IRS
990-TDecember 2024–––IRS
990December 2023$734,036$814,557$1,729,817XML
990-TDecember 2023–––IRS
990December 2022$714,891$752,928$2,528,628IRS
990-TDecember 2022–––IRS
990December 2021–––IRS
990-TDecember 2021–––IRS
990December 2020–––IRS
990-TDecember 2020–––IRS
990December 2018–––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 35-1804398).

Questions about CORNERSTONE CENTER FOR THE ARTS INC

What is the EIN of CORNERSTONE CENTER FOR THE ARTS INC?
The employer identification number (EIN) of CORNERSTONE CENTER FOR THE ARTS INC is 35-1804398.
Is CORNERSTONE CENTER FOR THE ARTS INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1990.
Are donations to CORNERSTONE CENTER FOR THE ARTS INC tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does CORNERSTONE CENTER FOR THE ARTS 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 CENTER FOR THE ARTS 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 CENTER FOR THE ARTS INC last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of CORNERSTONE CENTER FOR THE ARTS INC?
The 990 for the year ended December 31, 2024 names CAROL BRADSHAW.
Who are the officers and directors of CORNERSTONE CENTER FOR THE ARTS INC?
The 990 for the year ended December 31, 2024 lists 13 people; 0 received compensation from the organization.
How much revenue does CORNERSTONE CENTER FOR THE ARTS INC have?
On its 990 for the year ended December 31, 2024 it reported revenue of $915,682, expenses of $642,910 and total assets of $2,019,268 at year end.

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