Nonprofit · EIN 64-0819423
CORNERSTONE FOUNDATION
Tax-exempt · BILOXI, MS 39532
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $857,423 | $863,943 | -$6,520 | $2,300,343 | $36,459 | $2,263,884 |
| December 31, 2023 | 990 | $792,196 | $690,958 | $101,238 | $2,315,187 | $44,783 | $2,270,404 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $856,161
- Program service revenue
- $0
- Investment income
- $1,262
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $518,406
- Compensation of officers, directors and key employees
- $99,340
- Other salaries and wages
- $70,782
- Salaries, compensation and benefits (total)
- $212,723
- Professional fundraising fees
- $0
- Accounting fees
- $17,474
- Occupancy
- $7,323
- Travel
- $137
- Depreciation
- $28,739
- Program services (functional)
- $745,903
- Management and general (functional)
- $118,040
Balance sheet and other
- Total assets, start of year
- $2,315,187
- Total assets, end of year
- $2,300,343
- Total liabilities, end of year
- $36,459
- Net assets, end of year
- $2,263,884
- Land, buildings and equipment
- $944,687
- Net assets without donor restrictions
- $2,263,884
- Gross receipts
- $857,423
- Employees
- 4
- Volunteers
- 134
- Year formed
- 1992
- State of legal domicile
- MS
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.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| ROSANNE MCKENNEY | GRANT MANAGER Trustee or director | 45 | $54,814 | $2,475 |
| DR JEFF MCKENNEY | PRESIDENT Officer | 60 | $54,814 | $2,475 |
| RUTH BISHOP | PERSONNEL Trustee or director | 0.5 | $0 | $0 |
| JERRY CAFFEY | CONSTRUCTION Trustee or director | 0.5 | $0 | $0 |
| SALLY MAHONEY | COMMUNICATIONS Trustee or director | 2 | $0 | $0 |
| LINDA KUYKENDALL | CONFERENCES Trustee or director | 2 | $0 | $0 |
| JILL COBLE | RECORDER Trustee or director | 6 | $0 | $0 |
| JOE MAHONEY | GENERAL ADVISOR Trustee or director | 0.6 | $0 | $0 |
| RICHARD REICHART | GENERAL ADVISOR Trustee or director | 2 | $0 | $0 |
| JILL REICHART | GENERAL ADVISOR Trustee or director | 2 | $0 | $0 |
| STEVE HYRSZCZUK | GENERAL ADVISOR Trustee or director | 2 | $0 | $0 |
| ANDREA HYRSZCZUK | GENERAL ADVISOR Trustee or director | 2 | $0 | $0 |
| WALLY BROWN | GENERAL ADVISOR Trustee or director | 2 | $0 | $0 |
| TOMARA BROWN | GENERAL ADVISOR Trustee or director | 2 | $0 | $0 |
| BRUCE COBLE | SECRETARY Officer | 6 | $0 | $0 |
1 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DR WADE BISHOP | TREASURER Officer | 4 | $0 |
990 for the year ended December 31, 2023: 16 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| ROSANNE MCKENNEY | GRANT MANAGER Trustee or director | 48 | $42,982 | $9,900 |
| DR JEFF MCKENNEY | PRESIDENT Officer | 66 | $42,982 | $9,900 |
| RUTH BISHOP | PERSONNEL Trustee or director | 0.5 | $0 | $0 |
| JERRY CAFFEY | CONSTRUCTION Trustee or director | 0.5 | $0 | $0 |
| SALLY MAHONEY | COMMUNICATIONS Trustee or director | 2 | $0 | $0 |
| LINDA KUYKENDALL | CONFERENCES Trustee or director | 2 | $0 | $0 |
| JILL COBLE | RECORDER Trustee or director | 6 | $0 | $0 |
| JOE MAHONEY | GENERAL ADVISOR Trustee or director | 0.6 | $0 | $0 |
| RICHARD REICHART | GENERAL ADVISOR Trustee or director | 2 | $0 | $0 |
| JILL REICHART | GENERAL ADVISOR Trustee or director | 2 | $0 | $0 |
| STEVE HYRSZCZUK | GENERAL ADVISOR Trustee or director | 2 | $0 | $0 |
| ANDREA HYRSZCZUK | GENERAL ADVISOR Trustee or director | 2 | $0 | $0 |
| WALLY BROWN | GENERAL ADVISOR Trustee or director | 2 | $0 | $0 |
| TOMARA BROWN | GENERAL ADVISOR Trustee or director | 2 | $0 | $0 |
| BRUCE COBLE | SECRETARY Officer | 6 | $0 | $0 |
| DR WADE BISHOP | TREASURER Officer | 4 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 9032 WOOLMARKET RD, BILOXI, MS 39532-8152
- In care of
- % JEFFERSON CHASE MCKENNEY
- Principal officer (990 for 2024)
- WADE BISHOP, 9032 WOOLMARKET RD, BILOXI, MS 39532
- Signed the 990
- WADE BISHOP, CFO
- Phone
- (228) 207-1811
- Website
- WWW.CRSTONE.ORG
- Return prepared by
- ALEXANDER VAN LOON SLOAN LEVENS & FAVRE
Mission
THE CORNERSTONE FOUNDATION IS DEDICATED TO THE GLORY OF GOD AND THE FULFILLMENT OF THE GREAT COMMISSION THROUGH MINISTRY TO THE BODY, SOUL, AND SPIRIT OF THOSE IN NEED. WE WILL ANSWER THIS CALLING THROUGH SERVICES SUCH AS MEDICAL CARE, CHILD CARE, COMMUNITY DEVELOPMENT AND EDUCATION.
Program accomplishments
- HOSPITAL LOMA DE LUZ CARED FOR APPROXIMATELY 27,396 PATIENTS OF MINIMAL RESOURCES OFFERING FULL-TIME MEDICAL CARE OF THE HIGHEST QUALITY IN AREAS OF FAMILY PRACTICE, PEDIATRICS, CARDIOLOGY, INTERNAL MEDICINE, SURGERY, AND MATERNAL CHILD HEALTH AND DENTISTRY. MEDICAL CLINICS WERE OPEN 5 DAYS PER WEEK. EMERGENCY ROOM AND IN-PATIENT SERVICES WERE OFFERED 24/7/365. PERFORMED NUMEROUS OPERATIONS OF ALL KINDS.Expenses $631,392 · grants $400,518
- ESCUELA EL CAMINO OFFERED CLASSES FOR FULL TIME STUDENTS INCLUDING GEOGRAPHY, ART, MUSIC AND READING. SUPPORT FOR ALL PUBLIC SCHOOLS IN THE AREA IN OBTAINING LIBRARIES, OFFERING SPECIAL PROGRAMS, AND HELPING CONSTRUCT/UPGRADE SCHOOLS. HELD WEEK LONG ANNUAL MISSIONARY KIDS CAMP FOR KIDS ALL OVER HONDURAS.Expenses $31,094
- ONGOING HOUSING/CARE OF POOREST PATIENT FAMILIES AND PATIENTS FROM OTHER PARTS OF THE COUNTRY AT THE SANCTUARY CENTER AND CHILDRENS CENTER.Expenses $83,417 · grants $117,888
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 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 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 64-0819423
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Hospital or medical research organization
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1994
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- International, foreign affairs and national security (Q300)
- Assets (IRS master file)
- $2,300,343
- Income (IRS master file)
- $857,423
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $857,423 | $863,943 | $2,300,343 | XML |
| 990 | December 2023 | $792,196 | $690,958 | $2,315,187 | XML |
| 990 | December 2022 | $922,393 | $781,819 | $2,226,715 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 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 64-0819423).
Questions about CORNERSTONE FOUNDATION
- What is the EIN of CORNERSTONE FOUNDATION?
- The employer identification number (EIN) of CORNERSTONE FOUNDATION is 64-0819423.
- Is CORNERSTONE FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1994.
- Are donations to CORNERSTONE FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does CORNERSTONE FOUNDATION 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 FOUNDATION 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 FOUNDATION 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 FOUNDATION?
- The 990 for the year ended December 31, 2024 names WADE BISHOP.
- Who are the officers and directors of CORNERSTONE FOUNDATION?
- The 990 for the year ended December 31, 2024 lists 16 people; 2 received compensation from the organization, the highest $54,814 (ROSANNE MCKENNEY, GRANT MANAGER).
- How much revenue does CORNERSTONE FOUNDATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $857,423, expenses of $863,943 and total assets of $2,300,343 at year end.
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All nonprofits in BILOXI · Mississippi · International, foreign affairs and national security