2024-04-29T12:14:06-05:00 2023-12-31 351307701 KRUGGEL LAWTON & COMPANY LLC 526 UPTON DRIVE ST JOSEPH MI 49085 990 2023-01-01 464405437 CORNERSTONE PUBLIC ASSET FUND INC CORN 2699256100 80 W MAIN ST BENTON HARBOR MI 49022 CHRISTOPHER J COOK PRESIDENT 2699256100 2024-04-24 1 CHRISTOPHER COOK 999009999 1 ROBERT ALEX SCHAEFFER P01439018 2699830131 2024-04-22 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z CHRISTOPHER J COOK 80 W MAIN ST BENTON HARBOR MI 49022 8839788 0 X N/A X 2013 MI CORNERSTONE PUBLIC ASSET FUND, INC. IS ENGAGED IN THE DEVELOPMENT AND IMPLEMENTATION OF ECONOMIC GROWTH IN PARTNERSHIP WITH LOCAL COMMUNITIES AND MUNICIPALITIES. IT OPERATES AS A SUPPORTING ORGANIZATION TO CORNERSTONE ALLIANCE, A PUBLIC CHARITY. 6 6 112 50 0 0 4517394 4490734 2602924 2634734 5474 73265 -781771 -103801 6344021 7094932 2108000 2345000 0 0 1315961 1570357 0 0 0 2166600 2345867 5590561 6261224 753460 833708 25339428 26362568 1681744 1871176 23657684 24491392 X CORNERSTONE PUBLIC ASSET FUND, INC IS ENGAGED IN THE DEVELOPMENT AND IMPLEMENTATION OF ECONOMIC GROWTH IN PARTNERSHIP WITH LOCAL COMMUNITITES AND MUNICIPALITIES. IT OPERATES AS A SUPPORTING ORGANIZATION TO CORNERSTONE ALLIANCE, A PUBLIC CHARITY. 0 0 2626171 3215404 SEE SCHEDULE O 2689585 2345000 WHIRLPOOL CORPORATION COMMUNITY CHARITY GOLF EVENT: THE WHIRLPOOL COMMUNITY CHARITY GOLF EVENT (WCCGE) IS CONDUCTED EACH SUMMER. OVER THE PAST 19 YEARS, THE WCCGE HAS RAISED OVER $28 MILLION TO SUPPORT AREA YOUTH IN THE COMMUNITY. THE FUNDRAISING FROM THE WCCGE HAS ENABLED THE EXPANSION AND GROWTH OF LOCAL ORGANIZATIONS, AND THE MONEY RAISED HELPS AROUND 10,000 YOUTH A YEAR. THESE ORGANIZATIONS INCLUDE THE BOYS & GIRLS CLUBS OF GREATER SOUTHWEST MICHIGAN, FIRST TEE OF BENTON HARBOR AND THE LOCAL PUBLIC SCHOOL FOUNDATIONS OF BENTON HARBOR, LAKESHORE AND ST. JOSEPH AS WELL AS OTHER YOUTH PROGRAMS AND ORGANIZATIONS. 238283 MICHIGAN'S GREAT SOUTHWEST STRATEGIC LEADERSHIP COUNCIL: THE ROLE OF THE COUNCIL IS TO BRING LEADERS FROM BUSINESS, GOVERNMENT, NONPROFIT, AND EDUCATION TOGETHER TO WORK COLLABORATIVELY TO ACHIEVE THE MISSION OF THE COUNCIL. LEADERS ARE BASED LOCALLY IN BERRIEN COUNTY, MI AND ARE ALL VOLUNTEER PARTICIPANTS. 5554039 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 19 0 1 112 1 0 0 0 0 0 0 0 0 0 0 X 6 6 0 0 0 0 1 1 1 1 1 0 0 0 1 0 0 0 0 0 0 0 MI X THE ORGANIZATION 2699256100 80 W MAIN STREET BENTON HARBOR MI 49022 ROB CLEVELAND DIRECTOR 1.00 40.00 X 0 262108 0 JEFF FETTIG DIRECTOR 1.00 X 0 0 0 PAM KLYN DIRECTOR 1.00 X 0 0 0 MIKE TODMAN DIRECTOR 1.00 X 0 0 0 SAM ABDELNOUR DIRECTOR 1.00 X 0 0 0 JOSH DOXTATOR GENERAL MANAGER 40.00 X 178749 0 20700 CHRIS COOK TREASURER 40.00 X 223714 0 0 402463 262108 20700 2 1 1 0 JP4 GOVERNMENT SOLUTIONS LLC 2695 HILLVIEW LN ST JOSEPH MI 49085 CONSULTING 135203 1 60000 4157034 273700 4490734 PUBLIC GOLF COURSE 713910 2634734 2634734 2634734 73265 73265 27118 0 27118 27118 27118 479846 4157034 1191435 -711589 -711589 1134091 553421 580670 580670 7094932 3215404 0 -611206 2345000 2345000 402463 402463 1036170 612392 423778 8256 8256 123468 87306 36162 57000 57000 2873 2873 37886 34582 3304 16014 16014 121942 109591 12351 654001 638867 15134 8350 7504 846 1100 989 111 3461 3110 351 638343 638343 154198 138580 15618 REPAIRS AND MAINTENANCE 239194 228655 10539 CONTRACT SERVICES 210633 98990 111643 MISCELLANEOUS 126338 113540 12798 SUPPLIES 65143 58545 6598 9391 8439 952 6261224 5554039 707185 0 2103267 3421801 255546 353281 215794 229815 85825 118894 27715451 6214904 21830691 21500547 848305 738230 25339428 26362568 307365 796403 194081 308321 162195 0 1018103 766452 1681744 1871176 X 23657684 24491392 23657684 24491392 25339428 26362568 833708 0 X X 0 1 X 1 0 X X X 1 CORNERSTONE ALLIANCE 382772476 7 1 0 0 1 0 0 70000 330160 3376321 4517394 4490734 12784609 70000 330160 3376321 4517394 4490734 12784609 1037393 11747216 28523 71824 100347 12884956 15396150 0.91170 0.91930 X 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 18500000 18500000 5668889 6194904 -526015 3115917 20000 3095917 430645 430645 21500547 LEASE LIABILITY 766452 766452 X 8839788 0 8839788 -1744856 -1744856 7094932 8006080 1744856 1744856 6261224 0 6261224 PART X, LINE 2: THE ORGANIZATION IS A NONPROFIT CORPORATION UNDER SECTION 501 (C) (3) OF THE INTERNAL REVENUE CODE AND IS NOT CONSIDERED A PRIVATE FOUNDATION. IT IS ORGANIZED TO PROVIDE A VARIETY OF SERVICES TO RESIDENTS IN BERRIEN, CASS, AND VAN BUREN COUNTIES AND REVENUES ARE GENERATED THROUGH A VARIETY OF STATE AND LOCAL GRANT PROGRAMS. THE ORGANIZATION FILES TAX RETURNS IN THE U.S. FEDERAL JURISDICTION. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA ("GAAP") REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE ORGANIZATION AND RECOGNIZE A TAX LIABILITY IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE OR OTHER APPLICABLE TAXING AUTHORITIES. NO SUCH TAX LIABILITY HAS BEEN RECOGNIZED. HSGC IS A DISREGARDED ENTITY FOR TAX PURPOSES AND IS INCLUDED WITH THE TAX-EXEMPT ORGANIZATION. AS OF THE YEAR END, THERE ARE NO MATERIAL UNRECOGNIZED/DERECOGNIZED TAX BENEFITS OR TAX PENALTIES OR INTEREST. THE ORGANIZATION IS NO LONGER SUBJECT TO U.S. FEDERAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR THE THREE YEARS BEFORE THE CURRENT YEAR END. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -553,421. FUNDRAISING EVENT EXPENSES -1,191,435. PART XII, LINE 2D - OTHER ADJUSTMENTS: COSTS OF GOODS SOLD 553,421. FUNDRAISING EVENT EXPENSES 1,191,435. GOLF OUTING 4636880 4157034 479846 664866 163654 247915 115000 4636880 4157034 479846 664866 163654 247915 115000 1191435 -711589 1 BOYS & GIRLS CLUBS OF BENTON HARBOR 600 NATE WELLS SR DR BENTON HARBOR MI 49022 383461586 501(C)(3) 1000000 0 GENERAL SUPPORT ST JOSEPH PUBLIC SCHOOLS FOUNDATION 2580 S CLEVELAND AVE ST JOSEPH MI 49085 383296523 501(C)(3) 325000 0 GENERAL SUPPORT BENTON HARBOR EDUCATION FOUNDATION 1328 ST JOSEPH CIRCLE ST JOSEPH MI 49085 823690593 501(C)(3) 325000 0 GENERAL SUPPORT LAKESHORE EXCELLENCE FOUNDATION 5771 CLEVELAND AVE STEVENSVILLE MI 49127 383402730 501(C)(3) 325000 0 GENERAL SUPPORT FIRST TEE OF BENTON HARBOR INC 201 GRAHAM AVE BENTON HARBOR MI 49022 204206065 501(C)(3) 250000 0 GENERAL SUPPORT POW EDUCATIONAL FOUNDATION 1516 ROSLIN ROAD BENTON HARBOR MI 49022 874079278 501(C)(3) 20000 0 GENERAL SUPPORT BEYOND BASICS 18000 WEST NINE MILE ROAD SUITE 450 SOUTHFIELD MI 48075 752993015 501(C)(3) 100000 0 GENERAL SUPPORT 7 7 X X 0 0 0 0 0 0 0 0 0 ROB CLEVELAND DIRECTOR 0 262108 0 0 0 0 0 0 0 0 0 262108 0 0 CHRIS COOK TREASURER 223714 0 0 0 0 0 0 0 0 0 223714 0 0 0 JOSH DOXTATOR GENERAL MANAGER 178749 0 0 0 0 0 0 0 20700 0 199449 0 0 0 FORM 990, PART III, LINE 4A: OPERATION OF A PUBLIC GOLF COURSE: CORNERSTONE PUBLIC ASSET FUND, INC. ("CPAF") IS ORGANIZED AND OPERATED TO PROVIDE PUBLIC RECREATIONAL FACILITIES FOR THE BENEFIT OF THE COMMUNITY OF BENTON HARBOR, MICHIGAN. DURING THE FISCAL YEAR ENDED, AS PART OF ITS MISSION TO RESTORE A BLIGHTED AREA OF THE COMMUNITY AND ENHANCE COMMUNITY ACCESS TO THIS AREA, CPAF OWNED AND OPERATED A PUBLIC GOLF COURSE AND PUBLIC PARK AREA THAT IS OPEN TO THE COMMUNITY. THE GOLF COURSE IS PARTIALLY LOCATED WITHIN THE CITY OF BENTON HARBOR'S JEAN KLOCK PARK. THE CITY, THROUGH THE OVERSIGHT COMMITTEE THAT IT CONTROLS, REVIEWS AND APPROVES THE OPERATIONS OF THE ENTIRE GOLF COURSE, INCLUDING THE FEES TO BE CHARGED TO THE PUBLIC. THIS ENSURES THAT THE FACILITIES ARE AVAILABLE TO THE COMMUNITY AT LARGE FOR THEIR RECREATIONAL ENJOYMENT. IN ADDITION, CPAF PROVIDES THE FOLLOWING BENEFITS TO THE COMMUNITY: 1. PROVIDED DAYS OF USE TO THE LOCAL FIRST TEE GOLF PROGRAM FOR UNDERPRIVILEGED YOUTH, AT NO CHARGE. 2. PROVIDED DAYS OF USE TO LOCAL PUBLIC HIGH SCHOOLS FOR PRACTICE ROUNDS AND MATCHES, AT NO CHARGE. 3. PROVIDED UNLIMITED PASSES TO RESIDENTS OF THE CITY OF BENTON HARBOR AT SIGNIFICANTLY REDUCED COST. 4. PROVIDED FREE USE OF THE PROPER TO AREA RESIDENTS FOR WINTER ACTIVITIES WHEN CONDITIONS ALLOW FOR ACCESS TO THE COURSE WITHOUT THE RISK OF DAMAGE IN ADDITION, ALMOST HALF OF THE PERSONS EMPLOYED IN THE ONGOING OPERATION AND MAINTENANCE OF THE GOLF COURSE AND PARK ARE BENTON HARBOR RESIDENTS. MAINTAINING THIS LEVEL OF LOCAL RESIDENT EMPLOYMENT HAS AIDED IN LOWERING THE CITY'S SIGNIFICANTLY HIGH UNEMPLOYMENT RATE. MAINTENANCE AND IMPROVEMENT OF JEAN KLOCK PARK: PRIOR TO INVOLVEMENT BY CPAF, JEAN KLOCK PARK FALLEN INTO CONSIDERABLE DESPAIR. AS PART OF THE GOLF COURSE CONSTRUCTION PROCESS, CPAF MITIGATED CONTAMINATION, REMOVED TONS OF DEBRIS, AND RETURNED THE PARK TO A USEABLE STATE. EACH YEAR, CPAF PROVIDES ONGOING MAINTENANCE AND IMPROVEMENTS TO THE PARK PROPERTY. DURING THE FISCAL YEAR ENDED, CPAF SPENT APPROXIMATELY $115,000 ON THESE ACTIVITIES, INCLUDING MOWING, LANDSCAPING, CREATION AND MAINTENANCE OF WALKING TRAILS, CLEANING, AND MAINTENANCE OF WATERFRONT AREAS, ETC. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION'S TWO MEMBERS ARE WHIRLPOOL FOUNDATION AND CORNERSTONE ALLIANCE. FORM 990, PART VI, SECTION A, LINE 7A WHIRLPOOL FOUNDATION AND CORNERSTONE ALLIANCE HAVE THE RIGHT TO APPOINT DIRECTORS OF THE BOARD. WHIRLPOOL FOUNDATION APPOINTS TWO REPRESENTATIVES TO THE BOARD AND CORNERSTONE ALLIANCE APPOINTS FOUR REPRESENTATIVES TO THE BOARD. FORM 990, PART VI, SECTION A, LINE 7B THE CORNERSTONE PUBLIC ASSET FUND GOLF OPERATION ARE OVERSEEN BY AN OVERSIGHT COMMITTEE THAT IS CONTROLLED BY THE CITY OF BENTON HARBOR. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE SECRETARY OF THE BOARD PRIOR TO FILING. THE FULL BOARD WILL NOT RECEIVE A COPY OF THE FORM 990 PRIOR TO FILING THE RETURN. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT AVAILABLE FOR PUBLIC INSPECTION. FINANCIAL STATEMENTS ARE SUMMARIZED IN AN ANNUAL REPORT WHICH IS AVAILABLE TO THE PUBLIC FORM 990, PART VI, SECTION A, LINE 6: THE ORGANIZATION'S TWO MEMBERS ARE WHIRLPOOL FOUNDATION AND CORNERSTONE ALLIANCE. FORM 990, PART VI, SECTION A, LINE 7A: WHIRLPOOL FOUNDATION AND CORNERSTONE ALLIANCE HAVE THE RIGHT TO APPOINT DIRECTORS OF THE BOARD. WHIRLPOOL FOUNDATION APPOINTS TWO REPRESENTATIVES TO THE BOARD AND CORNERSTONE ALLIANCE APPOINTS FOUR REPRESENTATIVES TO THE BOARD. FORM 990, PART VI, SECTION A, LINE 7B: THE CORNERSTONE PUBLIC ASSET FUND GOLF OPERATION ARE OVERSEEN BY AN OVERSIGHT COMMITTE THAT IS CONTROLLED BY THE CITY OF BENTON HARBOR. FORM 990, PART VI, SECTION B, LINE 11B: THE FORM 990 IS REVIEWED BY THE SECRETARY OF THE BOARD PRIOR TO FILING. THE FULL BOARD WILL NOT RECEIVE A COPY OF THE FORM 990 PRIOR TO FILING THE RETURN. FORM 990, PART VI SECTION B, LINE 13: THE ORGANIZATION DOES NOT HAVE A FROMAL WHISTLEBLOWER POLICY IN PLACE BUT IS SUBJECT TO THE WHISTLEBLOWER POLICY OF HABOR SHORES COMMUNITY REDEVELOPMENT, INC., A RELATED ENTITY. FORM 990, PART VI SECTION B, LINE 14: THE ORGANIZATION DOES NOT HAVE A FORMAL WRITTEN DOCUMENT RETENTION AND DESTRUCTION POLICY IN PLACE BUT IS SUBJECT TO THE WRITTEN DOCUMENT RETENTION AND DESTRUCTION POLICY OF HARBOR SHORES COMMUNITY REDEVELOPMENT, INC., A RELATED ENTITY. FORM 990, PART VI SECTION C, LINE 19: GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT AVAILABLE FOR PUBLIC INSPECTION. FINANCIAL STATEMENTS ARE SUMMARIZED IN AN ANNUAL REPORT WHICH IS AVAILABLE TO THE PUBLIC. FORM 990, PART XII, LINE 2C THERE HAS BEEN NO CHANGE IN PROCESS FORM PRIOR YEAR. HARBOR SHORES GOLF COURSE LLC 201 GRAHAM AVENUE BENTON HARBOR MI 49022 205846412 CATALYST FOR ECONOMIC DEVELOPMENT MI CORNERSTONE PUBLIC ASSET FUND INC CORNERSTONE ALLIANCE 80 W MAIN ST BENTON HARBOR MI 49022 382774276 DEVELOPMENT OF ECONOMIC GROWTH IN THE CITY OF BENTON HARBOR MI 501(C)(3) LINE 7 N/A 0 RENAISSANCE DEVELOPMENT FUND 80 W MAIN ST BENTON HARBOR MI 49022 383367429 DEVELOPING ECONOMIC ACTIVITIES TO SUPPORT CORNERSTONE ALLIANCE MI 501(C)(3) LINE 12A, I CORNERSTONE ALLIANCE 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 1 0 0 0 0