EIN 46-4405437

Cornerstone Public Asset Fund

IRS 501(c) type
501(c)(3)
Num. employees
135
Year formed
2013
Most recent tax filings
2024-12-01
Description
Cornerstone Public Asset Fund, Inc. is engaged in the development and implementation of economic growth in partnership with local communities and municipalities. It operates as a supporting organization to Cornerstone alliance, a Public charity.
Total revenues
$8,466,820
2024
Total expenses
$7,429,497
2024
Total assets
$26,671,890
2024
Num. employees
135
2024

Program areas at Cornerstone Public Asset Fund

Michigan's great southwest strategic leadership council: the role of the council is to bring leaders from business, government, nonprofit, and education together to work collaboratively to achieve the mission of the council. Leaders are based locally in berrien county, mi and are all volunteer participants.
Whirlpool corporation community charity golf event: the whirlpool community charity golf event (wccge) is conducted each summer. Over the past 19 years, the wccge has raised over $28 million to support area youth in the community. The fundraising from the wccge has enabled the expansion and growth of local organizations, and the money raised helps around 10,000 youth a year. These organizations include the boys & girls clubs of greater southwest Michigan, first tee of benton harbor and the local Public school foundations of benton harbor, lakeshore and st. joseph as well as other youth programs and organizations.

Grants made by Cornerstone Public Asset Fund

GranteeGrant descriptionAmount
Boys and Girls Clubs of Benton Harbor MichiganGeneral Support$1,000,000
Lakeshore Excellence FoundationGeneral Support$350,000
St Joseph Public Schools FoundationGeneral Support$350,000
...and 3 more grants made

Who funds Cornerstone Public Asset Fund

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Whirlpool FoundationEconomic Development Grant$500,000
National Philanthropic TrustHuman Services$10,000
Fidelity Investments Charitable Gift FundFor Grant Recipient's Exempt Purposes$7,000

Financials for Cornerstone Public Asset Fund

RevenuesFYE 12/2024
Total grants, contributions, etc.$5,320,891
Program services$2,954,301
Investment income and dividends$130,967
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$21,359
Net gain from sale of non-inventory assets$0
Net income from fundraising events$-574,553
Net income from gaming activities$0
Net income from sales of inventory$613,855
Miscellaneous revenues$0
Total revenues$8,466,820
Data update history
June 30, 2025
Posted financials
Added Form 990 for fiscal year 2024
December 28, 2024
Received grants
Identified 1 new grant, including a grant for $500,000 from Whirlpool Corporation
August 11, 2024
Updated personnel
Identified 2 new personnel
July 19, 2024
Posted financials
Added Form 990 for fiscal year 2023
May 18, 2024
Received grants
Identified 1 new grant, including a grant for $162,236 from Berrien Community Foundation
Nonprofit Types
Grantmaking organizationsBusiness and community development organizationsReal estate organizationsHeadquarter / parent organizationsCharities
Issues
Land and water conservationEnvironmentCommunity improvementEconomic development
Characteristics
Partially liquidatedFundraising eventsFundraising races, competitions, and tournamentsTax deductible donations
General information
Address
80 W Main St
Benton Harbor, MI 49022
Metro area
Niles, MI
County
Berrien County, MI
Phone
(269) 925-6100
IRS details
EIN
46-4405437
Fiscal year end
December
Taxreturn type
Form 990
Year formed
2013
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
S31: Urban, Community Economic Development
NAICS code, primary
5313: Real Estate Services
Parent/child status
Central organization
California AB-488 details
AB 488 status
May Operate or Solicit for Charitable Purposes
Charity Registration status
Current - In Process
FTB status revoked
Not revoked
AG Registration Number
CT0279017
FTB Entity ID
None yet
AB 488 data last updated ("as-of") date
2025-08-06
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