CORNERSTONE FOUNDATION OF KNOXVILLE C/O EAST TENNESSEE FOUNDATION

EIN: 621666220 501(c)(3)

KNOXVILLE, TN

Total Revenue
$407,351
Total Expenses
$2,032,365
Total Assets
N/A
Net Assets
N/A
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1996
Legal Domicile
TN
Principal Officer
F RODNEY LAWLER
Phone
8655241223
Tax Period
2018-01-01 to 2018-12-31

CORNERSTONE FOUNDATION OF KNOXVILLE C/O EAST TENNESSEE FOUNDATION, founded in 1996, is a small nonprofit that reported $407K in total revenue in fiscal year 2018. Revenue fell 77% from the prior year — a significant decline worth monitoring. Expenses of $2.0M exceeded revenue, resulting in a 399% operating deficit.

Mission

TO SERVE AS A CATALYST TO REACH OUR GOD-GIVEN POTENTIAL AS A COMMUNITY WITH FUNDING, ACTIVITIES, AND EFFECTIVE STRATEGIC ACTIONS FOCUSED ON THE GREATER KNOXVILLE GEOGRAPHIC AREA.

Program Service Accomplishments

Program 1
Expenses: $1,247,792

GRANT TO SUPPORTED ORGANIZATION, EAST TENNESSEE FOUNDATION (ETF) TO CLOSE SUPPORTING FOUNDATION.

Program 2
Expenses: $481,494

UPON CLOSING OF THE FOUNDATION, GRANTED THE NET BOOK VALUE OF THE REMAINING ASSETS AND LIABILITIES OF 4MS, LLC (A WHOLLY OWNED SINGLE MEMBER LLC) TO ANOTHER NOT-FOR-PROFIT ENTITY.

Program 3
Expenses: $197,199

DEPRECIATION EXPENSE FOR 2018 ON ASSETS OWNED BY 4MS, LLC (WHOLLY-OWNED SINGLE MEMBER LLC).

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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%)

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Financial Overview (2018)

Revenue Breakdown

Contributions & Grants $407,223
Program Service Revenue $0
Investment Income $128
Other Revenue $0
TOTAL REVENUE $407,351

Expense Breakdown

Grants Paid $1,729,286
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $1,926,485
Other Expenses $303,079
TOTAL EXPENSES $2,032,365

Year-over-Year Comparison

2018 2017 Change
Revenue $407,351 $1,754,869 -0.8%
Expenses $2,032,365 $2,075,335 0.0%
Net Income $-1,625,014 $-320,466 +4.1%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Governance

Voting Members
5
Independent Members
5
Employees
N/A
Volunteers
5

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
3
$66,000
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DELL R LAWLER CHAIR 0.00
Officer Director
$0 $0 $0
F RODNEY LAWLER TREASURER 0.00
Officer Director
$0 $0 $0
RENDA J BURKHART DIRECTOR 0.00
Director
$0 $0 $0
WILLIAM E HASLAM DIRECTOR 0.00
Director
$0 $0 $0
A DAVID MARTIN DIRECTOR 0.00
Director
$0 $0 $0
J LAURENS TULLOCK PRESIDENT 12.50
Officer
$66,000 $0 $66,000
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
2018 $407,351 $2,032,365 No data $-1,625,014
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