2016-11-15T12:52:40-06:00 2015-12-31 381357951 PLANTE & MORAN PLLC 2601 CAMBRIDGE CT SUITE 500 AUBURN HILLS MI 48326 990 2015-01-01 464405437 CORNERSTONE PUBLIC ASSET FUND INC CORN 2699256100 38 WEST WALL STREET BENTON HARBOR MI 49022 RON GRIESINGER SECRETARY 2699256100 2016-11-15 1 LYNNE M HUISMANN P00053811 2483757100 2015 2017-02-10 21:41:12Z D JEFFREY NOEL 38 WEST WALL STREET BENTON HARBOR MI 49022 36401748 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. 5 4 0 4 0 0 0 36401748 0 0 0 0 0 0 0 36401748 0 0 0 0 0 0 0 0 0 0 85 0 85 0 36401663 0 54628233 0 18226570 0 36401663 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. 0 0 DURING 2015, THE ORGANIZATION ACQUIRED THE PUBLIC PURPOSE PROPERTY TO BE USED IN THE CONTINUING DEVELOPMENT AND ECONOMIC GROWTH ACTIVITIES OF THE AREA. 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 4 0 0 0 0 1 1 0 1 1 0 0 0 1 0 0 0 0 0 0 0 MI X JEFFREY GILBERTSEN 2699256100 38 WEST WALL STREET BENTON HARBOR MI 49022 D JEFFREY NOEL DIRECTOR, PRESIDENT 0.25 0.00 X X 0 0 0 RON GRIESINGER DIRECTOR, SECRETARY 0.25 50.00 X X 0 82319 18231 BRYAN VON DORPOWSKI DIRECTOR, TREASURER 0.25 1.00 X X 0 0 0 PHIL MAKI DIRECTOR 0.25 1.00 X 0 0 0 DEBORAH O'CONNOR DIRECTOR 0.25 0.00 X 0 0 0 0 82319 18231 0 0 0 0 0 36401748 36401748 36401748 0 0 0 BANK FEES 85 85 85 0 85 0 0 274832 28601748 25751653 0 0 25751653 0 54628233 0 18226570 0 18226570 X 0 7799915 0 28601748 0 36401663 0 54628233 36401663 0 X X 0 1 X 1 0 X X X 1 CORNERSTONE ALLIANCE 382772476 7 1 0 0 1 0 0 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 18499651 18499651 4288557 4288557 2632484 2632484 330961 330961 25751653 PAYABLE TO HARBOR SHORES GOLF COURSE, LLC 18226570 18226570 X 36401748 0 36401748 0 36401748 85 0 85 0 85 PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM INCOME TAX UNDER PROVISIONS OF INTERNAL REVENUE CODE SECTION 501(C)(3). ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA 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 IRS OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ORGANIZATION, AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2015, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS FORM 990, PART VI, SECTION A, LINE 6 LTHE ORGANIZATION'S THREE MEMBERS ARE WHIRLPOOL FOUNDATION, CONSORTIUM FOR COMMUNITY DEVELOPMENT, AND CORNERSTONE ALLIANCE. FORM 990, PART VI, SECTION A, LINE 7A THE ORGANIZATION'S MEMBERS, WHIRLPOOL FOUNDATION, CONSORTIUM FOR COMMUNITY DEVELOPMENT, AND CORNERSTONE ALLIANCE, HAVE THE RIGHT TO APPOINT DIRECTORS OF THE BOARD. WHIRLPOOL FOUNDATION APPOINTS ONE REPRESENTATIVE TO THE BOARD. CONSORTIUM FOR COMMUNITY DEVELOPMENT APPOINTS ONE REPRESENTATIVE TO THE BOARD. CORNERSTONE ALLIANCE APPOINTS THREE REPRESENTATIVES TO THE BOARD. FORM 990, PART VI, SECTION B, LINE 11 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 FORMAL WHISTLEBLOWER POLICY IN PLACE BUT IS SUBJECT TO THE WHISTLEBLOWER POLICY OF HARBOR 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 FROM PRIOR YEAR. CORNERSTONE ALLIANCE 38 WEST WALL ST BENTON HARBOR MI 49022 382774276 ECONOMIC DEVELOPMENT MI 501(C)(3) LINE 7 N/A 0 RENAISSANCE DEVELOPMENT FUND 38 WEST WALL ST BENTON HARBOR MI 49022 383367429 COMMUNITY IMPROVEMENT MI 501(C)(3) LINE 11A, I CORNERSTONE ALLIANCE 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0