CORNERSTONE CHARITABLE FOUNDATION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2005

Legal Domicile

Principal Officer

DOUGLAS THIESSEN

Phone

7857386476

Tax Period

2023-01-01 to 2023-12-31

CORNERSTONE CHARITABLE FOUNDATION, founded in 2005, is a community nonprofit in the Philanthropy & Grantmaking sector that reported $2.0M in total revenue in fiscal year 2023. Revenue surged 59% from the prior year, signaling strong growth momentum. Expenses of $3.5M exceeded revenue, resulting in a 73% operating deficit.

Mission

TO STRENGTHEN CATHOLIC COMMUNITIES FOR FUTURE GENERATIONS BY PROVIDING GRANTS, LOANS, BOND FINANCING, STRUCTURED GIVING, AND ENDOWMENT BUILDING CAPABILITIES TO CATHOLIC SCHOOLS, PARISHES, FOUNDATIONS, AND OTHER ORGANIZATIONS IN BELOIT, KS, AND THROUGHOUT THE COUNTRY

Program Service Accomplishments

Program 1

Expenses: $3,310,007 Revenue: $1,651,914

UNDER ITS ENDOWMENT FUNDING PROGRAM, CORNERSTONE MAINTAINS AND ADMINISTERS AND INSURANCE PROGRAM WHICH INVOLVES THE PAYMENT OF LIFE INSURANCE PREMIUMS ON A POOL OF INSURANCE POLICIES OF WHICH...

UNDER ITS ENDOWMENT FUNDING PROGRAM, CORNERSTONE MAINTAINS AND ADMINISTERS AND INSURANCE PROGRAM WHICH INVOLVES THE PAYMENT OF LIFE INSURANCE PREMIUMS ON A POOL OF INSURANCE POLICIES OF WHICH CORNERSTONE IS THE OWNER AND BENEFICIARY.

Program 2

Expenses: $4,000 Revenue: $17,691

UNDER ITS CONDUIT BOND PROGRAM, CORNERSTONE SERVES AS A BOND ISSUER FOR OTHER MISSION-SUPPORTIVE ORGANIZATIONS.

Program 3

Expenses: $18,154 Revenue: $51,000

UNDER ITS REAL ESTATE PROGRAM, CORNERSTONE ACQUIRES, MANAGES AND DEVELOPS REAL ESTATE TO STRENGTHEN CATHOLIC COMMUNITIES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $259,673

Program Service Revenue $1,720,605

Investment Income $60,709

Other Revenue $0

TOTAL REVENUE $2,040,987

Expense Breakdown

Grants Paid $67,955

Salaries & Benefits $53,825

Fundraising Expenses $38,687

Program Expenses $3,332,161

Other Expenses $3,417,777

TOTAL EXPENSES $3,539,557

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,040,987	$1,284,970	+0.6%
Expenses	$3,539,557	$1,358,399	+1.6%
Net Income	$-1,498,570	$-73,429	+19.4%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$50,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DOUGLAS THIESSEN	CHAIR	5.00	Officer Director	$0	$0	$0
DAN ELLENZ	VICE CHAIR	2.00	Officer Director	$0	$0	$0
DOUG EILERT	TREASURER	10.00	Officer Director	$0	$0	$0
DEAN GENGLER	SECRETARY	10.00	Officer Director	$0	$0	$0
FR JARETT KONRADE	TRUSTEE	2.00	Director	$0	$0	$0
JEFF BECHARD	TRUSTEE	2.00	Director	$0	$0	$0
DAVID DUBBERT	TRUSTEE	2.00	Director	$0	$0	$0
JOSEPH WALTER	PRESIDENT	35.00	Officer	$50,000	$0	$50,000

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$2,040,987	$3,539,557	$7,370,227	$-1,498,570
2022	$1,284,970	$1,358,399	$8,845,009	$-73,429
2021	$1,354,530	$1,460,735	$13,160,835	$-106,205
2020	$3,015,912	$1,634,350	$13,945,657	$1,381,562
2019	$1,809,730	$1,575,029	$18,813,632	$234,701
2018	$1,618,009	$1,633,758	$16,313,262	$-15,749