Cornerstone Initiative Inc in Huntsville, Alabama (AL)
Table of contents:
| Cornerstone Initiative Inc | |
| Employer Identification Number (EIN) | 275159255 |
| Name of Organization | Cornerstone Initiative Inc |
| Address | PO BOX 18697, Huntsville, AL 35804-8697 |
| Subsection | Charitable Organization |
| Ruling Date | 05/2013 |
| Deductibility | Contributions are deductible |
| Foundation | Organization which receives a substantial part of its support from a governmental unit or the general public |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2013 |
| Assets | $25,000 to $99,999 |
| Income | $100,000 to $499,999 |
| Filing Requirement | 990 (all other) or 990EZ return |
| Asset Amount | $37,158 |
| Amount of Income | $125,041 |
| Form 990 Revenue Amount | $125,041 |
| National Taxonomy of Exempt Entities (NTEE) | Community Improvement, Capacity Building: Real Estate Organizations |
Non-representatives - add comments:
Amount of income in 2013: $125,041 (it was $47,163 in 2012)
| Cornerstone Initiative Inc: | $125,041 |
| Other organizations performing similar types of work: | $395,082 |
Assets in 2013: $37,158 (it was $11,903 in 2012)
| Cornerstone Initiative Inc: | $37,158 |
| Other organizations performing similar types of work: | $1,488,874 |
Expenses in 2013: $99,417
| This organization: | $99,417 |
| Other organizations performing similar types of work: | $72,621 |
Income to expenses ratio in 2013: 1.3
| This organization: | 1.3 |
| Other organizations performing similar types of work: | 3.3 |
Grants share in income in 2013: 99.6%
| Cornerstone Initiative Inc: | 99.6% |
| Other organizations performing similar types of work: | -0.0% |
Revenue for 2013
Support schedule
| Revenue, Expenses, and Changes in Net Assets or Fund Balances | ||
| 2012 | 2013 | |
|---|---|---|
| Total revenue | $44,674 | $125,041 |
| Contributions, gifts, grants, and similar amounts received | $35,048 | $124,559 |
| Program service revenue including government fees and contracts | $140 | $0 |
| Membership dues and assessments | $0 | $0 |
| Investment income | $75 | $482 |
| Gain/Loss from sale of assets other than inventory | $0 | $0 |
| Net income/loss from gaming and fundraising events | $9,410 | $0 |
| Gross profit/loss from sales of inventory | $0 | $0 |
| Other revenue | $0 | $0 |
| Total expenses | $109,825 | $99,417 |
| Total net assets | $9,455 | $35,080 |
| Excess/Deficit for the year | $-65,151 | $25,624 |
| Net assets or fund balances at beginning of year | $74,600 | $9,456 |
| Other changes in net assets or fund balances | $6 | $0 |
| Net assets or fund balances at end of year | $9,455 | $35,080 |
| Balance Sheets | ||
| 2012 | 2013 | |
|---|---|---|
| Total assets | $11,903 | $37,158 |
| Total liabilities | $2,447 | $2,078 |
| Net assets or fund balances | $9,455 | $35,080 |
| Other Information | ||
| 2012 | 2013 | |
|---|---|---|
| Did the organization engage in any significant activity not previously reported to the IRS? | No | No |
| Were any significant changes made to the organizing or governing documents? | No | No |
| Did the organization have unrelated business gross income of $1,000 or more during the year from business activities | No | No |
| Has the organization filed a Form 990-T for the year? | No | No |
| Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year? | No | No |
| Amount of political expenditures, direct or indirect | $0 | $0 |
| Did the organization file Form 1120-POL for this year? | No | No |
| Did the organization borrow from, or make any loans to, any officer, director, trustee, or key employee or were any such loans made in a prior year and still outstanding at the end of the tax year covered by this return? | No | No |
| Total amount involved | $0 | $0 |
| Initiation fees and capital contributions | $0 | $0 |
| Gross receipts for public use of club facilities | $0 | $0 |
| Did the organization engage in any section 4958 excess benefit transaction during the year, or did it engage in an excess benefit transaction in a prior year that has not been reported on any of its prior Forms 990 or 990-EZ? | No | No |
| At any time during the tax year, was the organization a party to a prohibited tax shelter transaction? | No | No |
| Reason for Public Charity Status (for 2013) | |
| The organization is not a private foundation because it is: | An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975 |
| Number of organizations supported | 0 |
| Sum of amounts of support | $0 |
| Support Schedule for Organizations Described in Section 509(a)(2) (for 2009 - 2013) | |
| 2009 - 2013 Total | |
|---|---|
| Public support | $233,747 |
| Subtotal | $246,247 |
| Gifts, grants, contributions, and membership fees received | $246,107 |
| Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose | $140 |
| Gross receipts from activities that are not an unrelated trade or business under section 513 | $0 |
| Tax revenues levied for the organization's benefit and either paid to or expended on its behalf | $0 |
| The value of services or facilities furnished by a governmental unit to the organization without charge | $0 |
| Less | $12,500 |
| Amounts received from disqualified persons | $12,500 |
| Amounts received from other than disqualified persons that exceed the greater of $5,000 or 1% of the total support | $0 |
| Total support | $246,812 |
| Public support | $246,247 |
| Subtotal | $565 |
| Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources | $565 |
| Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975 | $0 |
| Net income from unrelated business activities, whether or not the business is regularly carried on | $0 |
| Other income | $0 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Birmingham Association Of Realtors Inc | PO BOX 59609, Birmingham, AL 35259-9609 | AL | 2013-05 | $496,754 |
| 2 | Tgm Realty Corp 20 | 650 5th Ave Fl 28, New York, NY 10019-6108 | NY | 1998-07 | $142,782,870 |
| 3 | Seacrest Realty Holding Company | PO BOX 5005, New York, NY 10163-5005 | NY | 2001-07 | $89,667,619 |
| 4 | Tr Overlook Iii Corp | 120 N Lasalle St, Chicago, IL 60602-2424 | IL | 2005-02 | $86,455,436 |
| 5 | Tr Energy Crossing Corp | 120 N Lasalle St Ste 1750, Chicago, IL 60602-2492 | IL | 2011-10 | $77,549,508 |
| 6 | Tgm Investment Corp I | 650 5th Ave Fl 28, New York, NY 10019-6108 | NY | 2000-05 | $72,251,482 |
| 7 | Rutherford Place Funding Corporation | 500 Stanton Christiana Rd-Ops 3 2-P, Newark, DE 19713-2105 | DE | 2010-02 | $56,713,448 |
| 8 | Scotts Horizon Property Inc | 1 Mill Pond Ln, Simsbury, CT 06070-2486 | CT | 1999-09 | $37,888,511 |
| 9 | Tmt Reston I And Ii | 101 California St Fl 26, San Francisco, CA 94111-5803 | CA | 2001-02 | $35,632,917 |
| 10 | Cornerstone Initiative Inc | PO BOX 18697, Huntsville, AL 35804-8697 | AL | 2013-05 | $125,041 |
| 11 | Grand Lodge F & Am Of Alabama Real Property Inc | 341 Monument Drive, Millbrook, AL 36054 | AL | 2009-11 | $123,112 |
| 12 | Marshall County Board Of Realtors Inc | 105 E Main St Ste 7, Albertville, AL 35950-2263 | AL | 1999-09 | $69,287 |
| 13 | Lifeline Village Properties Inc | 2104 Rocky Ridge Rd, Birmingham, AL 35216-5138 | AL | 2005-04 | $57,221 |
| 14 | Columbus Club Inc | Po Box 43801, Birmingham, AL 35243 | AL | 2005-03 | $4,093 |
| 15 | Aekdb Corporation | 1115 Newbury Lane West, Mobile, AL 36695-4459 | AL | 2008-06 | $0 |
| 16 | F P H A Inc | Po Box 1215, Fairhope, AL 36533 | AL | 2011-04 | $0 |
| 17 | Ges Title Holding Corporation Inc | 2440 Gordon Smith Dr, Mobile, AL 36617-2319 | AL | 2013-11 | $0 |
| 18 | Health Services Holding Company Inc | 1845 Cherry Street, Montgomery, AL 36107-2613 | AL | 2013-11 | $0 |
| 19 | Local Union No 1639 Uaw Building Corp | PO BOX 50353, Mobile, AL 36605-0353 | AL | 2000-11 | $0 |
| 20 | Sav-A-Life Mobile Property Inc | 308 S Sage Ave, Mobile, AL 36606-3616 | AL | 2010-03 | $0 |
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