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Nonprofit · EIN 41-2053259

CORNERSTONE MINISTRIES INC

Tax-exempt · MCKINNEY, TX 75069

Financials

$15.2M$2.3M2023$13.2M$2.7M2024
Revenue Expenses · by fiscal year end
Financials of CORNERSTONE MINISTRIES INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$13,195,689$2,687,459$10,508,230$32,483,883$5,305,658$27,178,225
December 31, 2023990$15,224,457$2,274,696$12,949,761$21,894,962$5,224,967$16,669,995
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$12,777,732
Program service revenue
$443,770
Investment income
$161,420
Net income from fundraising events
-$187,233
Other revenue
-$187,233

Expenses

Grants and similar amounts paid
$0
Salaries, compensation and benefits (total)
$0
Professional fundraising fees
$0
Occupancy
$115,678
Depreciation
$81,409
Program services (functional)
$1,779,064
Management and general (functional)
$493,563
Fundraising (functional)
$414,832

Balance sheet and other

Total assets, start of year
$21,894,962
Total assets, end of year
$32,483,883
Total liabilities, end of year
$5,305,658
Net assets, end of year
$27,178,225
Land, buildings and equipment
$6,494,105
Net assets without donor restrictions
$2,548,435
Net assets with donor restrictions
$24,629,790
Gross receipts
$13,382,922
Employees
0
Volunteers
500
Year formed
2002

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
DAVID HEATONBOARD MEMBER
Trustee or director
40$41,597
KIRT RUBYBOARD CHAIRM
Trustee or director
1$0
CHARLIE PHILIPSCO-VICE CHAI
Trustee or director
1$0
MICKY REEVESCO-VICE CHAI
Trustee or director
1$0
MENDY TAPPTREASURER
Trustee or director
1$0
CYNTHIA HEATONSECRETARY
Trustee or director
30$0
STEVE FISCHERBOARD MEMBER
Trustee or director
1$0
JIMMY LAFERNEYBOARD MEMBER
Trustee or director
1$0
MORGAN TAYLORBOARD MEMBER
Trustee or director
1$0
GERRY TAYLORBOARD MEMBER
Trustee or director
1$0
MIKE BARBERBOARD MEMBER
Trustee or director
1$0
990 for the year ended December 31, 2023: 15 people
NameTitleHours / weekCompensation
TERRY ECKDIRECTOR
Officer
40$72,913
MORGAN RUSSELLRESIDENTIAL
Officer
40$64,316
DAVID HEATONEXEC DIR OF
Trustee or director, Officer
40$38,893
IAN HAYFACILITIES M
Officer
40$37,732
ROBIN VESTALDEVELOPMENT
Officer
40$16,777
KIRT RUBYBOARD CHAIRM
Trustee or director
1$0
MICKY REEVESVICE CHAIRMA
Trustee or director
1$0
MENDY TAPPTREASURER
Trustee or director
1$0
CYNTHIA HEATONSECRETARY
Trustee or director
1$0
STEVE FISCHERBOARD MEMBER
Trustee or director
1$0
JIMMY LAFERNEYBOARD MEMBER
Trustee or director
1$0
CHARLIE PHILIPSBOARD MEMBER
Trustee or director
1$0
MORGAN TAYLORBOARD MEMBER
Trustee or director
1$0
GERRY TAYLORBOARD MEMBER
Trustee or director
1$0
MIKE BARBERBOARD MEMBER
Trustee or director
1$0

Address and contacts

Address (IRS master file)
3933 COUNTY ROAD 317, MCKINNEY, TX 75069-4105
In care of
% MICHAEL C RIDDLE
Principal officer (990 for 2024)
KIRT RUBY
Signed the 990
CYNTHIA HEATON, SECRETARY
Phone
(469) 424-1887
Return prepared by
K EVANS & ASSOCIATES PLLC

Mission

CORNERSTONE MINISTRIES PROVIDES A HOME WHERE ADULTS WITH SPECIAL NEEDS CAN EXPERIENCE ABUNDANT LIFE. BUILT ON CHRISTIAN VALUES, ITS FAMILY-CENTRIC ENVIRONMENT CREATES A SAFE PLACE WHERE INDEPENDENCE THRIVES, CHARACTER GROWS, AND CONFIDENCE IS NURTURED.

990 for the year ended December 31, 2024

Program accomplishments

  • CORNERSTONE MINISTRIES PROVIDES A COMMUNITY FOR ADULTS WITH SPECIAL NEEDS INCLUDING THE DEVELOPMENTALLY DELAYED AND ADULTS WITH MILD TO MODERATE MENTAL DISABILITIES. COMPLETE RESIDENT CARE IS PROVIDED, AND THE MINISTRIES OFFER RESIDENTIAL PROGRAMS AND DAY PROGRAMS. PARTICIPANTS CAN JOIN IN VARIOUS ACTIVITIES AND CLASSES. ADULTS WITH SPECIAL NEEDS ARE UNIQUELY EQUIPPED TO IMPACT THE LOCAL COMMUNITY THROUGH SERVICE AND ENTERPRISE.
    Expenses $1,779,064 · revenue $443,770

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
41-2053259
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
2004
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$32,483,883
Income (IRS master file)
$13,382,922

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024–––IRS
990December 2023$15,224,457$2,274,696$21,894,962IRS
990December 2022$2,008,284$1,798,796$8,934,877IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2019–––IRS
990December 2018–––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 MINISTRIES INC

What is the EIN of CORNERSTONE MINISTRIES INC?
The employer identification number (EIN) of CORNERSTONE MINISTRIES INC is 41-2053259.
Is CORNERSTONE MINISTRIES INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2004.
Are donations to CORNERSTONE MINISTRIES INC tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does CORNERSTONE MINISTRIES 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 MINISTRIES 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 MINISTRIES 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 MINISTRIES INC?
The 990 for the year ended December 31, 2024 names KIRT RUBY.
Who are the officers and directors of CORNERSTONE MINISTRIES INC?
The 990 for the year ended December 31, 2024 lists 11 people; 1 received compensation from the organization, the highest $41,597 (DAVID HEATON, BOARD MEMBER).
How much revenue does CORNERSTONE MINISTRIES INC have?
On its 990 for the year ended December 31, 2024 it reported revenue of $13,195,689, expenses of $2,687,459 and total assets of $32,483,883 at year end.

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