Cornerstone Foundation
Cornerstone Foundation is a private grantmaking foundation established in 1989 in Pennsylvania and funded in 1990. The foundation is located in Elverson, PA and operates as a family foundation with a focus on faith-based philanthropy.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$24.6M
-0.8% YoY
Annual Giving
$1.7M
-16.0% YoY
Grant Count
26
-21.2% YoY
Avg Grant Size
$64K
+6.6% YoY
Under IRS private-foundation payout rules, Cornerstone Foundation reported a distributable amount of $1.3M for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation's mission is giving primarily to Baptist organizations, including churches, missions, Bible colleges, and theological seminaries. Funding also supports other Protestant organizations, particularly faith-based Christian camps.
Grantmaking
The foundation is classified as a Private Grantmaking Foundation (NTEE code T20) and is required to file IRS Form 990-PF annually.
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Geographic Focus
Where this funder awards grants
The foundation operates in Pennsylvania, with its principal address at 4020 Main Street, Elverson, PA 19520.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $24,634,295 | $24,837,260 | $26,237,100 |
| Revenue | $1,824,874 | $979,379 | $783,944 |
| Expenses | $2,122,662 | $2,388,068 | $2,083,125 |
| Qualifying Distributions | $1,742,926 | $2,028,221 | $1,808,922 |
| Net Investment Income | $1,379,687 | $515,840 | $573,659 |
| Distributable Amount | $1,323,851 | $1,310,481 | $1,370,606 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
156 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Camp Kanesatake ($300,000), Operation Renewed Hope ($200,000), Camp Loma Devida ($150,000).
| Recipient | Purpose | Amount |
|---|---|---|
| ABWE HARRISBURG, PA | CHARITABLE, SCHOLARHIPS | $82,700 |
| ALL POINTS BAPTIST MISSION NEW PHILADELPHIA, OH | CHARITABLE, ETHAN SHIELD HANGAR FUND | $30,000 |
| APPALACHIAN BIBLE COLLEGE MOUNT HOPE, WV | CHARITABLE, CAMP SCHOLARSHIPS | $6,805 |
| BAY CITIES FELLOWSHIP PALM HARBOR, FL | CHARITABLE, HURRICANE RELIEF | $100,000 |
| BETHANY CHURCH READING, PA | CHARITABLE, LATIN AMERICAN OUTREACH TRAINING | $45,000 |
| BIBLICAL EDUCATION FOR LATIN AMERICA EDINBURG, TX | CHARITABLE, UCLA PROJECT | $32,000 |
| BIBLICAL MINISTRIES WORLDWIDE LAWRENCEVILLE, GA | CHARITABLE, WAASAYAA NORTH BIBLE CAMP | $50,000 |
| BUILDING GREAT LEADERS TAYLORS, SC | CHARITABLE, YEAR END GIFT | $20,000 |
| CAMP CALVARY BERNVILLE, PA | CHARITABLE, CAMP SCHOLARSHIPS | $12,000 |
| CAMP CHETEK CHETEK, WI | CHARITABLE, CAMP SCHOLARSHIPS | $40,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
- Edward Cone - President
- Terry Wild - Registered Agent
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| EDWARD H CONE | PRESIDENT/TREASURER | 1 | — |
| PHILIP J CONE | VICE PRESIDENT/SECRETARY | 1 | — |
| DERIAL H SANDERS | DIRECTOR | 1 | — |
| STEPHEN E CONE | DIRECTOR | 1 | — |
| JULIE ZUBER | DIRECTOR | 1 | — |
| JANE CONE | DIRECTOR | 1 | — |
| MICHAEL T CONE | DIRECTOR | 1 | — |
| TIMOTHY CONE | DIRECTOR | 1 | — |
Contact Information
- Phone: 610-286-2946
- Address: 1220 Heritage Drive, Elverson, PA 19520-9319
Frequently Asked Questions
What does Cornerstone Foundation fund?
The foundation's mission is giving primarily to Baptist organizations, including churches, missions, Bible colleges, and theological seminaries. Funding also supports other Protestant organizations, particularly faith-based Christian camps.
How do I apply for a grant from Cornerstone Foundation?
The foundation is classified as a Private Grantmaking Foundation (NTEE code T20) and is required to file IRS Form 990-PF annually.
Where does Cornerstone Foundation make grants?
The foundation operates in Pennsylvania, with its principal address at 4020 Main Street, Elverson, PA 19520.
What size grants does Cornerstone Foundation award?
In 2024, Cornerstone Foundation awarded 26 grants totaling $1.7M — an average of about $64K per grant, based on its IRS Form 990 filings.
How much is Cornerstone Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Cornerstone Foundation reported a distributable amount of $1.3M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Cornerstone Foundation's EIN?
Cornerstone Foundation's EIN (Employer Identification Number) is 23-2593411. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Cornerstone Foundation's focus areas in our free grants database
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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