Cornerstone Fh Charitable Foundation

Nonprofit profile at a glance

EIN
825335397
IRS 990 coverage
2021–2024
Forms available
Form 990 2024, Form 990-N 2020
Location
Cornwall, NY, USA
Phone
8452203100
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and Fund Distribution

Official website

Reported finances

Revenue
$1,431,460
Expenses
$981,826
Assets
$17,702,758
Liabilities
$1,900

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

14 people listed

Executive titles in this filing

  • DAVID JOLLY (CHAIR/PRESIDENT & CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • DAVID JOLLY (CHAIR/PRESIDENT & CHIEF EXECUTIVE OFFICER): $522,323 total reported compensation
  • AMY BOLOGNESE (CHIEF FINANCIAL OFFICER): $249,330 total reported compensation
  • SAQIB ALTAF (DIRECTOR): $236,333 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To support of cornerstone family healthcare's mission as a freestanding diagnostic and treatment center licensed under article 28 of the New York state public health law which provides a broad range of health services to a largely underserved population.

What it reported doing in 2024

To support cornerstone family healthcare's mission to provide a wide range of health services to a largely medically underserved population.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 86% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 71
  • Accountability: 73
  • Sustainability: 79
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 94.8%; rating input score 95
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 69.2%; rating input score 69; 15th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 31.4%; rating input score 85; 85th percentile among comparable filings
  • Total-asset coverage ratio: 18.03; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 82; 82nd percentile among comparable filings
  • Officer compensation ratio: 24.8%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: 107.1% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: -92.1% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: 7.1% per year; rating input score 100; 48th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 94.8% of spending went to programs
  • Governance: 9 of 13 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $931K in reported program spending
  • Leadership: top reported pay $522K · 14 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 3 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 10/100.