Nonprofit · EIN 81-2026570
CORNERSTONE MAGAZINE INC
Tax-exempt · LAND O LAKES, FL 34638
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-EZ | $37,693 | $42,458 | -$4,765 | $51,436 | $0 | $51,436 |
| December 31, 2023 | 990-EZ | $34,318 | $35,846 | -$1,528 | $56,201 | $0 | $56,201 |
Financial details: 990-EZ for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $37,693
- Program service revenue
- $0
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fees and payments to contractors
- $6,202
- Printing, publications and postage
- $35,840
- Other expenses
- $416
- Program services (functional)
- $42,458
Balance sheet and other
- Total assets, start of year
- $56,201
- Total assets, end of year
- $51,436
- Total liabilities, end of year
- $0
- Net assets, end of year
- $51,436
- Cash, savings and investments
- $45,547
- Gross receipts
- $37,693
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-EZ for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| David Dunlap | President & Director | 1 | $0 |
| Mark Kolchin | Acting Secretary (appointed effective 4/9/2024) & Director | 2 | $0 |
| George Ferrier | Editor (appointed w.e.f. 1/1/2024) & Director | 2 | $0 |
| Brian Gunning | Director | 0.23 | $0 |
| Eileen Lee | Treasurer (not a director) | 3 | $0 |
990-EZ for the year ended December 31, 2023: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| David Dunlap | President & Director | 0.58 | $0 |
| Mark Kolchin | Editor & Director | 4.04 | $0 |
| Pheng T Tan | Secretary & Director (resigned 9/21/23) | 0 | $0 |
| George Ferrier | Assistant Editor & Director | 1.44 | $0 |
| Brian Gunning | Director | 0.08 | $0 |
| Eileen Lee | Treasurer (not a director) | 3.94 | $0 |
Address and contacts
- Address (IRS master file)
- 3407 BRENFORD PL, LAND O LAKES, FL 34638-8006
- Signed the 990-EZ
- Eileen Lee, Treasurer
- Phone
- (813) 494-1680
- Website
- www.cornerstonemagazine.org
Mission
Our charitable purpose as set forth in our articles of incorporation are for charitable, religious and educational purposes, including Bible education and publishing Bible teaching and articles in the magazine called Cornerstone Magazine. Cornerstone Magazine, Inc. (CMI) published and distributed the inaugural issue of Cornerstone Magazine in Dec 2016/Jan 2017. As CMI is currently publishing a bi-monthly magazine, we have published 6 issues of Cornerstone Magazine each year since. The electronic version of our magazine is available on our website (www.cornerstonemagazine.org). CMI also held its first bible conference in 2019. The video recording is available on YouTube channel, Cornerstone Conferences. CMI also hosted Bible-based teaching webinars from 2019 to 2022. The webinars are available on our YouTube channel.
Program accomplishments
- Published and distributed six (6) issues of Cornerstone's bi-monthly magazine to over 3,500 subscribers.Expenses $42,458
What it must file and when
IRS records say it files Form 990-N (e-Postcard). Gross receipts normally $50,000 or less. 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-EZ on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-EZ on file |
IRS record
- EIN
- 81-2026570
- 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
- 2017
- Accounting year ends
- December
- Files
- Form 990-N (e-Postcard)
- Category (NTEE)
- Religion-related (X83)
- Assets (IRS master file)
- $51,436
- Income (IRS master file)
- $37,693
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-EZ | December 2024 | $37,693 | $42,458 | $51,436 | XML |
| 990-EZ | December 2023 | $34,318 | $35,846 | $56,201 | XML |
| 990-EZ | December 2022 | – | – | – | IRS |
| 990-EZ | December 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 81-2026570).
Questions about CORNERSTONE MAGAZINE INC
- What is the EIN of CORNERSTONE MAGAZINE INC?
- The employer identification number (EIN) of CORNERSTONE MAGAZINE INC is 81-2026570.
- Is CORNERSTONE MAGAZINE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2017.
- Are donations to CORNERSTONE MAGAZINE INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does CORNERSTONE MAGAZINE INC file?
- Form 990-N (e-Postcard). Gross receipts normally $50,000 or less.
- When is the next return of CORNERSTONE MAGAZINE 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 MAGAZINE INC last file with the IRS?
- The latest return in the IRS public files is the 990-EZ for the year ended December 2024.
- Who are the officers and directors of CORNERSTONE MAGAZINE INC?
- The 990-EZ for the year ended December 31, 2024 lists 5 people; 0 received compensation from the organization.
- How much revenue does CORNERSTONE MAGAZINE INC have?
- On its 990-EZ for the year ended December 31, 2024 it reported revenue of $37,693, expenses of $42,458 and total assets of $51,436 at year end.
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