Cornerstone Foundation

Cincinnati, OH
Tax-exempt since March 1988
EIN: 31-1220787

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Type of Nonprofit

Designated as a 501(c)(3) Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Donations to this organization are tax deductible.

Revenue

$111k (2024)

Expenses

$76.4k (2024)

Total Assets

$779k (2024)

Total Liabilities

$0 (2024)

Source: Form 990 tax filings from 2011 to 2024

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2024

Revenue

$110,884

Expenses

$76,359

Net Income

$34,525

Net Assets

$779,138

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$3,000	2.7%
Interest Revenue	$0
Dividends	$11,187	10.1%
Sales of Assets	$96,697	87.2%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$72,927	95.5%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$779,138
Total Liabilities	$0
Net Assets	$779,138

Compensation

Key Employees and Officers	Compensation	Other
Ronald H Mcswain (President/Treasurer)	$0	$0
Phyllis Mcswain (Vice President)	$0	$0
Jason Mcswain (Secretary)	$0	$0
Julie Carnes (Director)	$0	$0
Michelle Bacon (Director)	$0	$0

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990-PF

Filed on May 2, 2025

Primary tax return for a private foundation's activities, finances, and governance

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XML

Fiscal Year Ending Dec.
2023

Revenue

$41,778

Expenses

$47,992

Net Income

-$6,214

Net Assets

$739,922

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$12,081	28.9%
Sales of Assets	$29,697	71.1%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$45,700	95.2%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$739,922
Total Liabilities	$0
Net Assets	$739,922

Compensation

Key Employees and Officers	Compensation	Other
Ronald H Mcswain (President/Treasurer)	$0	$0
Phyllis Mcswain (Vice President)	$0	$0
Jason Mcswain (Secretary)	$0	$0
Julie Carnes (Director)	$0	$0
Michelle Bacon (Director)	$0	$0

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990-PF

Filed on May 9, 2024

Primary tax return for a private foundation's activities, finances, and governance

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XML

Fiscal Year Ending Dec.
2022

Revenue

-$6,432

Expenses

$55,252

Net Income

-$61,684

Net Assets

$746,136

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$10,776
Interest Revenue	$0
Dividends	$12,286
Sales of Assets	-$29,494
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$53,300	96.5%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$746,136
Total Liabilities	$0
Net Assets	$746,136

Compensation

Key Employees and Officers	Compensation	Other
Ronald H Mcswain (President/Treasurer)	$0	$0
Phyllis Mcswain (Vice President)	$0	$0
Jason Mcswain (Secretary)	$0	$0
Julie Carnes (Director)	$0	$0
Michelle Bacon (Director)	$0	$0

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990-PF

Filed on May 11, 2023

Primary tax return for a private foundation's activities, finances, and governance

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PDF XML

Fiscal Year Ending Dec.
2021

Revenue

$86,016

Expenses

$65,497

Net Income

$20,519

Net Assets

$813,476

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$7,000	8.1%
Interest Revenue	$0
Dividends	$17,929	20.8%
Sales of Assets	$61,087	71.0%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$63,550	97.0%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$813,476
Total Liabilities	$0
Net Assets	$813,476

Compensation

Key Employees and Officers	Compensation	Other
Ronald H Mcswain (President/Treasurer)	$0	$0
Phyllis Mcswain (Vice President)	$0	$0
Jason Mcswain (Secretary)	$0	$0
Julie Carnes (Director)	$0	$0
Michelle Bacon (Director)	$0	$0

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990-PF

Filed on March 30, 2022

Primary tax return for a private foundation's activities, finances, and governance

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XML

Fiscal Year Ending Dec.
2020

Revenue

$155,182

Expenses

$156,927

Net Income

-$1,745

Net Assets

$759,806

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$43,041	27.7%
Interest Revenue	$2,363	1.5%
Dividends	$16,163	10.4%
Sales of Assets	$12,134	7.8%
Other Income	$81,481	52.5%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$152,624	97.3%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$759,807
Total Liabilities	$1
Net Assets	$759,806

Compensation

Key Employees and Officers	Compensation	Other
Ronald H Mcswain (President/Treasurer)	$0	$0
Phyllis Mcswain (Vice President)	$0	$0
Jason Mcswain (Secretary)	$0	$0
Julie Carnes (Director)	$0	$0
Michelle Bacon (Director)	$0	$0

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990-PF

Filed on Nov. 10, 2021

Primary tax return for a private foundation's activities, finances, and governance

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XML

Fiscal Year Ending Dec.
2019

Revenue

$50,447

Expenses

$170,651

Net Income

-$120,204

Net Assets

$726,832

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$5,558	11.0%
Dividends	$12,624	25.0%
Sales of Assets	$32,265	64.0%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$165,929	97.2%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$726,833
Total Liabilities	$1
Net Assets	$726,832

Compensation

Key Employees and Officers	Compensation	Other
Ronald H Mcswain (President/Treasurer)	$0	$0
Phyllis Mcswain (Vice President)	$0	$0
Jason Mcswain (Secretary)	$0	$0
Julie Carnes (Director)	$0	$0
Michelle Bacon (Director)	$0	$0

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990-PF

Filed on May 13, 2020

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2018

Revenue

$44,966

Expenses

$208,557

Net Income

-$163,591

Net Assets

$811,612

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$6,463	14.4%
Dividends	$13,111	29.2%
Sales of Assets	$25,392	56.5%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$203,822	97.7%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$811,612
Total Liabilities	$0
Net Assets	$811,612

Compensation

Key Employees and Officers	Compensation	Other
Ronald H Mcswain (President/Treasurer)	$0	$0
Phyllis Mcswain (Vice President)	$0	$0
Jason Mcswain (Secretary)	$0	$0
Julie Carnes (Director)	$0	$0
Michelle Bacon (Director)	$0	$0

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990-PF

Filed on May 15, 2019

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2017

Revenue

$54,663

Expenses

$253,634

Net Income

-$198,971

Net Assets

$1,017,032

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$737	1.3%
Dividends	$11,256	20.6%
Sales of Assets	$42,670	78.1%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$247,148	97.4%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,017,032
Total Liabilities	$0
Net Assets	$1,017,032

Compensation

Key Employees and Officers	Compensation	Other
Ronald H Mcswain (President/Treasurer)	$0	$0
Phyllis Mcswain (Vice President)	$0	$0
Jason Mcswain (Secretary)	$0	$0
Julie Carnes (Director)	$0	$0
Michelle Bacon (Director)	$0	$0

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990-PF

Filed on May 15, 2018

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2016

Revenue

-$7,558

Expenses

$265,619

Net Income

-$273,177

Net Assets

$1,181,449

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$92
Dividends	$13,941
Sales of Assets	-$21,591
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$262,069	98.7%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,181,449
Total Liabilities	$0
Net Assets	$1,181,449

Compensation

Key Employees and Officers	Compensation	Other
Ronald H Mcswain (President/Treasurer)	$0	$0
Phyllis Mcswain (Vice President)	$0	$0
Jason Mcswain (Secretary)	$0	$0
Julie Carnes (Director)	$0	$0
Michelle Bacon (Director)	$0	$0

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990-PF

Filed on May 12, 2017

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2015

Revenue

$190,307

Expenses

$166,288

Net Income

$24,019

Net Assets

$1,414,213

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$149,085	78.3%
Interest Revenue	$1,477	0.8%
Dividends	$15,391	8.1%
Sales of Assets	$24,030	12.6%
Other Income	$324	0.2%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$157,150	94.5%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,414,213
Total Liabilities	$0
Net Assets	$1,414,213

Compensation

Key Employees and Officers	Compensation	Other
Ronald H Mcswain (President/Treasurer)	$0	$0
Phyllis Mcswain (Vice President)	$0	$0
Jason Mcswain (Secretary)	$0	$0
Julie Carnes (Director)	$0	$0
Michelle Bacon (Director)	$0	$0

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990-PF

Filed on July 20, 2016

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2014

Revenue

$118,381

Expenses

$120,471

Net Income

-$2,090

Net Assets

$1,390,194

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$2,341	2.0%
Interest Revenue	$0
Dividends	$18,620	15.7%
Sales of Assets	$96,060	81.1%
Other Income	$1,360	1.1%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$106,250	88.2%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,390,194
Total Liabilities	$0
Net Assets	$1,390,194

Compensation

Key Employees and Officers	Compensation	Other
Ronald H Mcswain (President/Treasurer)	$0	$0
Phyllis Mcswain (Vice President)	$0	$0
Jason Mcswain (Secretary)	$0	$0

990-PF

Filed on June 15, 2015

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2013

Revenue

$56,524

Expenses

$155,026

Net Income

-$98,502

Net Assets

$1,392,284

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$16,454	29.1%
Sales of Assets	$40,070	70.9%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$136,600	88.1%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,392,284
Total Liabilities	$0
Net Assets	$1,392,284

Compensation

Key Employees and Officers	Compensation	Other
Ronald H Mcswain (President/Treasurer)	$0	$0
Phyllis Mcswain (Vice President)	$0	$0
Jason Mcswain (Secretary)	$0	$0

990-PF

Filed on Aug. 12, 2014

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2012

Revenue

$16,937

Expenses

$168,839

Net Income

-$151,902

Net Assets

$1,488,785

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$1,000	5.9%
Interest Revenue	$0
Dividends	$24,639	> 100%
Sales of Assets	$0
Other Income	$1,262	7.5%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$154,000	91.2%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,488,786
Total Liabilities	$1
Net Assets	$1,488,785

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2011

Revenue

-$9,952

Expenses

$79,405

Net Income

-$89,357

Net Assets

$1,640,688

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$18,454
Sales of Assets	$0
Other Income	$2,187

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$75,750	95.4%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,640,688
Total Liabilities	$0
Net Assets	$1,640,688

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

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Cornerstone Foundation

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $111k (2024)

Expenses $76.4k (2024)

Total Assets $779k (2024)

Total Liabilities $0 (2024)

Tax Filings by Year

Fiscal Year Ending Dec. 2024

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

Revenue

$111k (2024)

Expenses

$76.4k (2024)

Total Assets

$779k (2024)

Total Liabilities

$0 (2024)

Fiscal Year Ending Dec.
2024

Fiscal Year Ending Dec.
2023

Fiscal Year Ending Dec.
2022

Fiscal Year Ending Dec.
2021

Fiscal Year Ending Dec.
2020

Fiscal Year Ending Dec.
2019

Fiscal Year Ending Dec.
2018

Fiscal Year Ending Dec.
2017

Fiscal Year Ending Dec.
2016

Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

Fiscal Year Ending Dec.
2010

Fiscal Year Ending Dec.
2009

Fiscal Year Ending Dec.
2008

Fiscal Year Ending Dec.
2007

Fiscal Year Ending Dec.
2006

Fiscal Year Ending Dec.
2005

Fiscal Year Ending Dec.
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Fiscal Year Ending Dec.
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2002

Fiscal Year Ending Dec.
2001