EIN 38-2772476

Cornerstone Alliance

Name: Cornerstone Alliance financials for 2022
Creator: Cause IQ
License: https://creativecommons.org/licenses/by-nc-nd/4.0/

IRS 501(c) type

501(c)(3)

Num. employees

City

Benton Harbor

State

Michigan

Year formed

1988

Most recent tax filings

2022-12-01

NTEE code, primary

S30: Economic Development

Description

Cornerstone Alliance is an economic development organization based in Benton Harbor, Michigan that is engaged in activities to improve the economic performance of Michigan's great southwest. The 2018-2020 strategic plan is focused on five initiatives: generating leads and new businesses; retaining, expanding and supporting existing businesses; promoting entrepreneurship and startup companies; growing talent; and improving the perception of the region.

Total revenues

$3,194,171

2022

Total expenses

$3,537,824

2022

Total assets

$8,999,885

2022

Num. employees

2022

Program areas at Cornerstone Alliance

Cornerstone Alliance is an economic development organization (edo) engaged in activities to improve the economic performance of Michigan's great southwest. The 2022-2024 strategic plan is focused on four initiatives: economic growth, physical development, community leadership and organizational development.

Who funds Cornerstone Alliance

Grants from foundations and other nonprofits

Grantmaker	Grantmaker tax period	Description	Amount
Whirlpool Corporation	2022-12	Stratgeic Grant	$2,950,000
Manufacturing Growth Alliance	2022-06		$230,059
Degroot Family Foundation	2022-12	Economic Development	$75,000
...and 8 more grants received

Personnel at Cornerstone Alliance

Name	Title	Compensation	Date of data
Robert Cleveland	President and Chief Executive Officer	$262,776	2022-12-31
Stephanie Scott-Sims	Vice President, Finance and Entrepreneurship Department: Leadership		2021-11-07
Christina Frank	Vice President of Extrnal Affairs	$128,083	2022-12-31
Brandon Campbell	Director, Women's Business Center Department: Cornerstone Alliance Team		2021-11-07
Missy Holden	Director, First Choice Talent Attraction Services Department: Cornerstone Alliance Team		2021-11-07
...and 11 more key personnel

Financials for Cornerstone Alliance

Revenues	FYE 12/2022	FYE 12/2021	% Change
Total grants, contributions, etc.	$2,959,369	$1,658,093	78.5%
Program services	$252,882	$215,002	17.6%
Investment income and dividends	$14,095	$12,229	15.3%
Tax-exempt bond proceeds	$0	$0	-
Royalty revenue	$0	$0	-
Net rental income	$0	$0	-
Net gain from sale of non-inventory assets	$-32,175	$-4,719	-581.8%
Net income from fundraising events	$0	$0	-
Net income from gaming activities	$0	$0	-
Net income from sales of inventory	$0	$0	-
Miscellaneous revenues	$0	$27,680	-100%
Total revenues	$3,194,171	$1,908,285	67.4%

Form 990s for Cornerstone Alliance

Fiscal year ending	Date received by IRS	Form	PDF link
2022-12	2023-10-20	990	View PDF
2021-12	2022-11-14	990	View PDF
2020-12	2021-11-15	990	View PDF
2019-12	2021-04-01	990	View PDF
2018-12	2020-01-23	990	View PDF
...and 9 more Form 990s

Organizations like Cornerstone Alliance

Organization	Type	Location	Revenue
Greater Phoenix Economic Council	501(c)(3)	Phoenix, AZ	$9,013,171
Los Angeles County Economic Development Corporation (LAEDC)	501(c)(3)	Los Angeles, CA	$9,374,870
Long Island Development Corporation	501(c)(3)	Hauppauge, NY	$2,571,319
Cumberland Economic Development Cor	501(c)(3)	Cumberland, MD	$2,871,616
Albuquerque Regional Economic Alliance (AED)	501(c)(3)	Albuquerque, NM	$1,639,266
Omaha Economic Development Corporation (OEDC)	501(c)(3)	Omaha, NE	$5,224,740
Lawrence Economic Development Corporation (LEDC)	501(c)(3)	South Point, OH	$5,238,055
Detroit Regional Partnership Foundation	501(c)(3)	Detroit, MI	$8,149,982
Stafford County Economic Development	501(c)(3)	St John, KS	$1,067,232
Lake Agassiz Regional Development Corporation	501(c)(3)	Fargo, ND	$1,028,697

Data update history

December 28, 2023

Received grants

Identified 2 new grant, including a grant for $2,950,000 from Whirlpool Corporation

December 3, 2023

Posted financials

Added Form 990 for fiscal year 2022

December 2, 2023

Updated personnel

Identified 10 new personnel

July 22, 2023

Received grants

Identified 8 new grant, including a grant for $230,059 from Manufacturing Growth Alliance

July 15, 2023

Posted financials

Added Form 990 for fiscal year 2021

Nonprofit Types

Public sector nonprofitsBusiness and community development organizationsHeadquarter / parent organizationsCharities

Issues

Community improvementEconomic development

Characteristics

Partially liquidatedState / local levelReceives government fundingTax deductible donations

General information

Address: 80 W Main St; Benton Harbor, MI 49022
Metro area: Niles, MI
County: Berrien County, MI
Website URL: cstonealliance.org/
Phone: (269) 925-6100

IRS details

EIN: 38-2772476
Fiscal year end: December
Taxreturn type: Form 990
Year formed: 1988
Eligible to receive tax-deductible contributions (Pub 78): Yes

Categorization

NTEE code, primary: S30: Economic Development
NAICS code, primary: 926110: Economic Development Corporations and Economic Program Organizations
Parent/child status: Central organization

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Cornerstone Alliance

Program areas at Cornerstone Alliance

Who funds Cornerstone Alliance

Personnel at Cornerstone Alliance

Financials for Cornerstone Alliance

Form 990s for Cornerstone Alliance

Organizations like Cornerstone Alliance

Nonprofits

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