Nonprofit · EIN 56-6060705
J B CORNELIUS FOUNDATION INC
Tax-exempt · GREENWOOD, SC 29649
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| April 30, 2026 | 990-PF | $160,564 | $116,052 | $44,512 | $1,691,982 | $0 | $1,691,982 |
| April 30, 2025 | 990-PF | $128,560 | $102,398 | $26,162 | $1,662,983 | $0 | $1,662,983 |
| April 30, 2024 | 990-PF | $122,205 | $117,015 | $5,190 | $1,652,577 | $0 | $1,652,577 |
| April 30, 2022 | 990-PF | $130,031 | $128,828 | $1,203 | $1,661,817 | $0 | $1,661,817 |
Financial details: 990-PF for the year ended April 30, 2026
Revenue
- Dividends
- $106,776
- Net gain from sales of assets
- $53,788
Expenses
- Grants and similar amounts paid
- $95,250
- Compensation of officers, directors and key employees
- $15,000
- Disbursements for charitable purposes
- $105,651
- Excise tax on investment income
- $2,087
Balance sheet and other
- Total assets, start of year
- $1,662,983
- Total assets, end of year
- $1,691,982
- Total liabilities, end of year
- $0
- Net assets, end of year
- $1,691,982
- Fair market value of assets
- $2,267,252
- Qualifying distributions
- $105,651
- Net investment income
- $160,564
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 April 30, 2026, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| C KERMIT SHERRILL 18 ROYAL OAK DRIVE, GREENWOOD, SC 29649 | TREASURER | 2.5 | $15,000 |
| FRANK C SHERRILL II 12036 CREEKBEND DRIVE, RESTON, VA 20194 | PRESIDENT | 2.5 | $0 |
| MRS EDWIN S YOUNG 5100 SHARON ROAD, APT 116A, CHARLOTTE, NC 28210 | DIRECTOR | 0 | $0 |
| EDWIN S YOUNG JR 616 MT VERNON AVE, CHARLOTTE, NC 28203 | DIRECTOR | 0 | $0 |
| JOHN L SHERRILL JR 355 QUILL LANE, MATTHEWS, NC 28105 | DIRECTOR | 0 | $0 |
| PATTI STEDHENS 1621 NEELLEY ROAD 9229, PLEASANT GARDEN, NC 27313 | DIRECTOR | 0 | $0 |
| HENRY YOUNG 5301 OLD HIGHWAY ROAD, WAXHAW, NC 28173 | DIRECTOR | 0 | $0 |
990-PF for the year ended April 30, 2025: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| C KERMIT SHERRILL 18 ROYAL OAK DRIVE, GREENWOOD, SC 29649 | TREAS.@1/25 | 2.5 | $8,000 |
| JOHN L SHERRILL 314 OLD ABBEVILLE HWY, GREENWOOD, SC 29649 | TREAS.@5/24 | 2.5 | $7,000 |
| MRS EDWIN S YOUNG 5100 SHARON ROAD, APT 116A, CHARLOTTE, NC 28210 | DIRECTOR | 0 | $0 |
| FRANK C SHERRILL II 12036 CREEKBEND DRIVE, RESTON, VA 20194 | PRESIDENT | 2.5 | $0 |
| EDWIN S YOUNG JR 616 MT VERNON AVE, CHARLOTTE, NC 28203 | DIRECTOR | 0 | $0 |
| JOHN L SHERRILL JR 355 QUILL LANE, MATTHEWS, NC 28105 | DIRECTOR | 0 | $0 |
990-PF for the year ended April 30, 2024: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JOHN L SHERRILL 18 ROYAL OAK DRIVE, GREENWOOD, SC 29649 | SECRETARY/TR | 5 | $15,000 |
| MRS EDWIN S YOUNG 18 ROYAL OAK DRIVE, GREENWOOD, SC 29649 | PRESIDENT | 0 | $0 |
| FRANK C SHERRILL II 18 ROYAL OAK DRIVE, GREENWOOD, SC 29649 | DIRECTOR | 0 | $0 |
| C KERMIT SHERRILL 18 ROYAL OAK DRIVE, GREENWOOD, SC 29649 | DIRECTOR | 0 | $0 |
| EDWIN S YOUNG JR 18 ROYAL OAK DRIVE, GREENWOOD, SC 29649 | DIRECTOR | 0 | $0 |
| JOHN L SHERRILL JR 18 ROYAL OAK DRIVE, GREENWOOD, SC 29649 | DIRECTOR | 0 | $0 |
990-PF for the year ended April 30, 2022: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| John L Sherrill 314 Old Abbeville Hwy, Greenwood, SC 29649 | Secretary Treasurer | 5 | $8,500 |
| Mrs Edwin S Young 5100 Sharon Rd, Apt 116A, Charlotte, NC 28210 | President | 0 | $0 |
| Frank C Sherrill II 12036 Creekbend Dr, Reston, VA 20194 | Director | 0 | $0 |
| C Kermit Sherrill 18 Royal Oak Dr, Greenwood, SC 29649 | Director | 0 | $0 |
| Edwin S Young Jr 616 Mt Vernon Ave, Charlotte, NC 28203 | Director | 0 | $0 |
| John L Sherrill Jr 355 Quill Lane, Metthews, NC 28105 | Director | 0 | $0 |
Address and contacts
- Address (IRS master file)
- 18 ROYAL OAK DR, GREENWOOD, SC 29649-1313
- In care of
- % JOHN L SHERRILL
- Signed the 990-PF
- C KERMIT SHERRILL, TREASURER
- Phone
- (941) 400-5202
- Return prepared by
- UHY INC
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in April, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | April 30, 2026 | September 15, 2026 | 990-PF on file |
| 2024 | April 30, 2025 | September 15, 2025 | 990-PF on file |
| 2023 | April 30, 2024 | September 16, 2024 | 990-PF on file |
IRS record
- EIN
- 56-6060705
- 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
- 1940
- Accounting year ends
- April
- Files
- Form 990-PF
- Assets (IRS master file)
- $1,691,982
- Income (IRS master file)
- $170,438
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | April 2026 | $160,564 | $116,052 | $1,691,982 | XML |
| 990-PF | April 2025 | $128,560 | $102,398 | $1,662,983 | XML |
| 990-PF | April 2024 | $122,205 | $117,015 | $1,652,577 | XML |
| 990-PF | April 2023 | – | – | – | IRS |
| 990-PF | April 2022 | $130,031 | $128,828 | $1,661,817 | XML |
| 990-PF | April 2021 | – | – | – | 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 56-6060705).
Questions about J B CORNELIUS FOUNDATION INC
- What is the EIN of J B CORNELIUS FOUNDATION INC?
- The employer identification number (EIN) of J B CORNELIUS FOUNDATION INC is 56-6060705.
- Is J B CORNELIUS FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1940.
- Are donations to J B CORNELIUS FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does J B CORNELIUS FOUNDATION INC file?
- Form 990-PF. Private foundations file every year.
- When is the next return of J B CORNELIUS FOUNDATION INC due?
- The return for tax year 2026 (the year ending April 30, 2027) is due September 15, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did J B CORNELIUS FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended April 2026.
- Who are the officers and directors of J B CORNELIUS FOUNDATION INC?
- The 990-PF for the year ended April 30, 2026 lists 7 people; 1 received compensation from the organization, the highest $15,000 (C KERMIT SHERRILL, TREASURER).
- How much revenue does J B CORNELIUS FOUNDATION INC have?
- On its 990-PF for the year ended April 30, 2026 it reported revenue of $160,564, expenses of $116,052 and total assets of $1,691,982 at year end.
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