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CORNERSTONE COMMUNITY CREDIT UNION

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Tax-exempt status may be revoked

CORNERSTONE COMMUNITY CREDIT UNION

EIN 42-6058209

What they do

CORNERSTONE COMMUNITY CREDIT UNIONS VISION PROVIDEDS OUR MEMBERS WITH THE HIGHEST QUALITY FINANCIAL PRODUCTS AVAILABLE. WE PUT YOU FIRST and PLEDGE to SERVE YOUR PERSONAL NEEDS WITH COMPETENCE, INTEGRITY, and IMPORTANCE. BUILDING YOUR FINANCIAL SUCCESS, ONE MEMBER AT A TIME SINCE 1931.

Before you give

Should I give to this charity?

Easy charity check
Stop and check first

This record may have an IRS status problem. Do not give until you verify it.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkThere may be a problem with its nonprofit status. Check before giving.

Money report from 2018The report may be old. Ask for a newer one.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders8 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

$105.37spent for every $100 of revenueSpending was higher than revenue this year.
$18.42in assets for every $1 spent this yearSome assets cannot be spent right away.
0.2%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

  1. Who did you help? Ask for a recent story or report that shows real results.
  2. What will my money do? Ask exactly what your gift will pay for.
  3. Is this really the charity? Give only through its official website or confirmed phone number.

Worth asking: Expenses exceeded revenue by $56,788 this year. Ask whether that was planned or caused by a one-time event.

Pay context: The highest compensation shown in this filing is $111,091 for GARY KEY (CEO). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2018

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

Money in and money out

Revenue$1,057,723
Expenses$1,114,511
Annual shortfall $56,788 Expenses were higher than revenue for this filing year.
See all reported dollar amounts
Revenue$1,057,723
Expenses$1,114,511
Assets$20,525,137
Contributions$2,000
People

Leadership and board

Tax year 2018

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation
GARY KEYCEO · 50 hrs/week $111,091Base $100,476 · Other $10,615

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (8)

GARY KEYCEO

CRAIG PETERSENDIRECTOR

JOHN DEANGELISVICE CHAIR

LAWRENCE SCANLONDIRECTOR

MARK CLARKCHAIR

MARK COOPERDIRECTOR

MICHELE CHEEKSECRETARY

SANDI SMITHDIRECTOR

About this charity

Location
414 61ST STREET, DES MOINES, IA 50312
County
Polk
In care of
GARY KEY
Primary officer
GARY KEY, CEO

How to reach them

Filing and classification

Latest tax year
2018
Tax period began
January 1, 2018
Return type
990
Tax preparer
AUDIT THREESIXTY
Revocation date
May 15, 2023

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About this report: Information comes from public nonprofit records and may show the latest filing available.

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