Cornerstone Legacy Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in IRVINE, CA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $785K in total assets. In 2024, it awarded 8 grants totaling $399K. Net investment income was $65K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$785K
-17.0% YoY
Annual Giving
$399K
-76.9% YoY
Grant Count
8
-27.3% YoY
Avg Grant Size
$50K
-68.3% YoY
Under IRS private-foundation payout rules, Cornerstone Legacy Foundation reported a distributable amount of $45K for 2024 — the minimum it must pay out in qualifying distributions.
About Cornerstone Legacy Foundation
Based on IRS filings
Cornerstone Legacy Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in IRVINE, CA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $785K in total assets. In 2024, it awarded 8 grants totaling $399K. Net investment income was $65K.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $784,663 | $945,160 | $2,329,636 |
| Revenue | $123,732 | $199,719 | $46,487 |
| Expenses | $405,270 | $1,733,434 | $804,908 |
| Qualifying Distributions | $401,640 | $1,729,866 | $802,338 |
| Net Investment Income | $65,487 | $46,485 | $45,015 |
| Distributable Amount | $44,839 | $96,704 | $140,316 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 8 recipients in 2024
Grant Size Distribution
38 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include National Christian Foundation ($295,000), Hoag Hospital Foundation ($50,000), Trinity Fellowship Church ($20,000).
| Recipient | Purpose | Amount |
|---|---|---|
| CALIFORNIA FAMILY COUNCIL FRESNO, CA | SUPPORT OF EXEMPT FUNCTION | $10,000 |
| FAMILY RESEARCH COUNCIL WASHINGTON, DC | SUPPORT OF EXEMPT FUNCTION | $9,640 |
| HOAG HOSPITAL FOUNDATION NEWPORT, CA | SUPPORT OF EXEMPT FUNCTION | $50,000 |
| MARINERS CHURCH IRVINE, CA | SUPPORT OF EXEMPT FUNCTION | $1,000 |
| NATIONAL CHRISTIAN FOUNDATION COSTA MESA, CA | SUPPORT OF EXEMPT FUNCTION | $295,000 |
| SAMARITAN'S PURSE BOONE, NC | SUPPORT OF EXEMPT FUNCTION | $1,000 |
| TRINITY FELLOWSHIP CHURCH AMARILLO, TX | SUPPORT OF EXEMPT FUNCTION | $20,000 |
| WYCLIFF BIBLE TRANSLATORS ORLANDO, FL | SUPPORT OF EXEMPT FUNCTION | $12,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| GERALD PHARRIS | CEO | 2 | — |
| LYNN PHARRIS | SECRETARY / CFO | 2 | — |
| CATHERINE ANDERSON | DIRECTOR | 0.5 | — |
| BRIAN PHARRIS | DIRECTOR | 0.5 | — |
| JONATHAN PHARRIS | DIRECTOR | 0.5 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Cornerstone Legacy Foundation?
Cornerstone Legacy Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in IRVINE, CA. It holds $785K in total assets as of 2024.
How large is Cornerstone Legacy Foundation?
As of 2024, Cornerstone Legacy Foundation holds $785K in total assets with $124K in annual revenue. It awarded 8 grants totaling $399K in 2024.
Where does Cornerstone Legacy Foundation operate?
Cornerstone Legacy Foundation has awarded grants in California, District of Columbia, Florida, North Carolina, Oklahoma, Texas, Virginia.
What size grants does Cornerstone Legacy Foundation award?
In 2024, Cornerstone Legacy Foundation awarded 8 grants totaling $399K — an average of about $50K per grant, based on its IRS Form 990 filings.
How much is Cornerstone Legacy Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Cornerstone Legacy Foundation reported a distributable amount of $45K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Cornerstone Legacy Foundation's EIN?
Cornerstone Legacy Foundation's EIN (Employer Identification Number) is 20-0470994. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Cornerstone Legacy Foundation's focus areas in our free grants database
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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