Cornerstone Credit Union Foundation in Farmers Branch, Texas (TX)

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Cornerstone Credit Union Foundation
Employer Identification Number (EIN)756039968
Name of OrganizationCornerstone Credit Union Foundation
Address4455 Lbj Freeway No 1100, Farmers Branch, TX 75244-5998
ActivitiesOther school related activities
SubsectionCharitable Organization, Educational Organization
Ruling Date02/1965
DeductibilityContributions are deductible
FoundationOrganizations operated solely for the benefit of and in conjunction with organizations described in 10 through 16 above
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$1,000,000 to $4,999,999
Income$500,000 to $999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$2,121,245
Amount of Income$694,879
Form 990 Revenue Amount$663,818
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Scholarships, Student Financial Aid Services, Awards


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Amount of income in 2013: $694,879 (it was $602,319 in 2012)
Cornerstone Credit Union Foundation: 

 $694,879
Other organizations performing similar types of work: 

 $72,336

Assets in 2013: $2,121,245 (it was $1,810,676 in 2012)
Cornerstone Credit Union Foundation: 

 $2,121,245
Other organizations performing similar types of work: 

 $239,394

Expenses in 2012: $630,606
Cornerstone Credit Union Foundation: 

 $630,606
Other organizations performing similar types of work: 

 $40,888

Income to expenses ratio in 2012: 1.1
This organization: 

 1.1
Other organizations performing similar types of work: 

 1.4

Grants share in income in 2012: 103.6%
This organization: 

 103.6%
Other organizations performing similar types of work: 

 0.1%

Financial snapshot ($)

Revenue for 2012

Functional expenses for 2012

Statements Regarding Other IRS Filings and Tax Compliance (for 2012)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2012)
Total revenue$579,323
Contributions, Gifts, Grants and Other Similar Amounts$600,462
Program Service Revenue$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$1,857
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net gain from sales of assets other than inventory$0
Net loss from fundraising events$-22,996
Gross income from fundraising events$0
Less: direct expenses$22,996
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$0
Statement of Functional Expenses (for 2012)
Total functional expenses$630,606
Compensation of current officers, directors, trustees, and key employees$70,422
Other salaries and wages$0
Payroll taxes$0
Professional fundraising services$0
Other$560,184
Balance Sheet (for 2012)
Total assets$1,810,676
Total liabilities$139,422
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$0
Other$139,422
Total net assets or fund balances$1,671,254
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2012)
The organization is not a private foundation because it is:An organization organized and operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of one or more publicly supported organizations described in section 509(a)(1) or section 509(a)(2)
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Sylvester H Reed Memorial TrustPO BOX 1111, Pflugerville, TX 78691-1111TX1998-01$1,242,927
2Terry Foundation3104 Edloe, Houston, TX 77027-6098TX1997-07$305,792,014
3Louis L Borick Foundation2707 Kipling St, Houston, TX 77098-1214TX1997-07$86,100,330
4Texas Interscholastic League FoundationPO BOX 8028, Austin, TX 78713-8028TX1963-06$7,848,553
5Schwab-Rosenhouse Memorial FoundationPO BOX 41629, Austin, TX 78704-0028TX1998-07$2,088,872
6Rose Silverthorne Foundation2940 N O Connor Rd Ste 125, Irving, TX 75062-8802TX1996-12$1,401,264
7United Daughters Of The Confederacy14407un Harbor Drive, Houston, TX 77062TX1967-10$1,130,268
8Roever Foundation IncPO BOX 136130, Fort Worth, TX 76136-0130TX1991-04$916,341
9Tsrhc Scholarship FundPO BOX 190567, Dallas, TX 75219-0567TX1986-12$754,635
10Cornerstone Credit Union Foundation4455 Lbj Freeway No 1100, Farmers Branch, TX 75244-5998TX1965-02$694,879
11San Miguel-Casa Inc, Casa-San Miguel2418 Harris Blvd, Austin, TX 78703-2406TX1997-09$631,005
12Rufus L And Helen Little Educational TrustPO BOX 624, Corsicana, TX 75151-9004TX1997-05$575,236
13The Wedge Foundation1415 Louisiana St Ste 3000, Houston, TX 77002-7351TX1998-05$428,305
14Robert And Cecilia Hawk Citizenship Foundation519 I 30 Pmb 704, Rockwall, TX 75087-5408TX1995-11$301,885
15Star Sponsorship Program Inc6707 Brentwood Stair Rd Ste 205, Fort Worth, TX 76112-3354TX1994-03$294,015
16Schulte Charitable Foundation9977 W Sam Houston Pkwy N Ste 150, Houston, TX 77064-7509TX1996-06$263,993
17D M Robb Charitable Trust 593-74008PO BOX 2271, Vernon, TX 76385-2271TX1998-04$261,417
18The Permian Football Booster ClubPO BOX 13505, Odessa, TX 79768-3505TX1997-08$228,697
19Smithetuw20014887, Fleet Bank National AssocBANK OF AMERICA NA PO BOX 831, Dallas, TX 75283-1041TX1998-12$218,581
20Texas Executive Women Scholarship FundPO BOX 22593, Houston, TX 77227-2593TX1989-05$187,330
Number of organizations performing similar types of work
Alaska15
Alabama29
Arkansas27
Arizona42
California252
Colorado46
Connecticut69
District of Columbia36
Delaware10
Florida151
Georgia78
Hawaii18
Iowa52
Idaho15
Illinois193
Indiana80
Kansas57
Kentucky48
Louisiana26
Massachusetts102
Maryland74
Maine15
Michigan138
Minnesota61
Missouri93
Mississippi12
Montana14
North Carolina100
North Dakota5
Nebraska30
New Hampshire12
New Jersey147
New Mexico15
Nevada16
New York202
Ohio188
Oklahoma33
Oregon38
Pennsylvania160
Rhode Island22
South Carolina36
South Dakota7
Tennessee42
Texas251
Utah11
Virginia136
Vermont9
Washington68
Wisconsin96
West Virginia21
Wyoming9
International5
Total3,412

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