Civic Intelligence

Cornerstone Franciscan Ministries Inc

EIN 92-0283902 • 501(c)3 • Lutherville, MD

NTEE X02

Profile

Investing in people and inspiring community.

PO Box 5257Lutherville, MD 21094

cfmins.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

71st percentile

0.25x

Higher debt load relative to assets than 71% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

66th percentile

0.20x

Higher debt load relative to revenue than 66% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

23rd percentile

-9.0%

Higher net margin than 23% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

93rd percentile

$178,301

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 7.2% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

12th percentile

-14%

Faster asset growth than 12% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

3rd percentile

-61%

Faster revenue growth than 3% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Down

$1,997,492

Down $319,143 (-14%) from 2023

Liabilities

Down

$500,541

Down $112,814 (-18%) from 2023

Net Assets

Down

$1,496,951

Down $206,329 (-12%) from 2023

Revenue

Down

$2,484,879

Down $3,946,457 (-61%) from 2023

Expenses

Down

$2,707,747

Down $3,515,972 (-56%) from 2023

Net Income

Down

-$222,868

Down $430,485 (-207%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0Assets 2022: $4,735,203Liabilities 2022: $3,060,589Net Assets 2022: $1,674,6142022Assets 2023: $2,316,635Liabilities 2023: $613,355Net Assets 2023: $1,703,2802023Assets 2024: $1,997,492Liabilities 2024: $500,541Net Assets 2024: $1,496,9512024

Highlighted filing

2024

Assets$1,997,492
Liabilities$500,541
Net Assets$1,496,951

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2022: $1,675,896Expenses 2022: $1,282Net Income 2022: $1,674,6142022Revenue 2023: $6,431,336Expenses 2023: $6,223,719Net Income 2023: $207,6172023Revenue 2024: $2,484,879Expenses 2024: $2,707,747Net Income 2024: -$222,8682024

Highlighted filing

2024

Revenue$2,484,879
Expenses$2,707,747
Net Income-$222,868

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Aug 29, 2025
Return Version
2024v5.2
Gross Receipts
$2,484,879
Mission and Program Overview

Mission

Investing in people and inspiring community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities-$866,322-
Cash and Non-Interest-Bearing Accounts$893,350$541,491▼ $351,859
Pledges and Grants Receivable$334,839$278,865▼ $55,974
Investments Other Securities$1,063,895$257,027▼ $806,868
Prepaid Expenses and Deferred Charges$3,860$33,034▲ $29,174
Total Assets$2,316,635$1,997,492▼ $319,143
Other Assets Total$20,691$20,753▲ $62
Liabilities
Deferred Revenue$596,699$461,365▼ $135,334
Accounts Payable and Accrued Expenses$16,656$39,176▲ $22,520
Total Liabilities$613,355$500,541▼ $112,814
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,703,280$1,496,951▼ $206,329
Total Net Assets Fund Balance$1,703,280$1,496,951▼ $206,329
Total Liabilities and Net Assets / Fund Balance$2,316,635$1,997,492▼ $319,143

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$7,027--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Abboggs JrDirector, Ex-officio, CEO/FT$170,402$7,899$178,301
Joseph M BentzenFinance DirectorFT$103,381$935$104,316

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$2,180,699
Program Service Revenue
$265,453
Investment Income
$38,727
Other Revenue
$0
All Other Contributions
$133,289
Change in Net Assets
$-222,868

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,484,879
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$16,539
Total Revenue per Audited Statements
$2,501,418
Total Revenue per Form 990
$2,484,879
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,263,549
Salaries, Compensation, and Employee Benefits$1,256,284
Other Expenses$187,914
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$1,263,549--$1,263,549
Other Salaries and Wages$830,928$1,771-$832,699
Current Officers, Directors, Trustees, and Key Employees$253,959$28,218-$282,177
Payroll Taxes$79,259$2,206-$81,465
Other Employee Benefits$44,426$2,529-$46,955
Fees for Services Accounting-$40,194-$40,194
Information Technology-$33,636-$33,636
Fees for Services Other$23,951--$23,951
Travel$13,111$1,457-$14,568
Pension Plan Contributions$12,988--$12,988
Office Expenses-$12,000-$12,000
Other Expenses$5,540$8,337-$5,540
Insurance-$2,807-$2,807
All Other Expenses-$1,240-$1,240
Fees for Services Legal-$413-$413
Total Functional Expenses$2,538,742$169,005$0$2,707,747

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,707,747
Total Expenses per Audited Statements$2,707,747
Total Expenses per Form 990$2,707,747
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

A draft of the form 990 is reviewed in detail by the ceo/cfo and then forwarded to the full board for review and approval before it is filed.

Form 990, Part VI, Section B, Line 12C

At least once a year, management requests that all members of the board of directors and all employees verify that they are not aware of any conflicts of interest. If a conflict or potental conflict is reported, the executive director and several members of the board will investigate the potential conflict to determine what needs to be done to mitigate a conflict. If it involves a board member and the conflict cannot be mitigated, that board member will not be part of any discussions related to the matter, including abstaining from voting on such matters.

Form 990, Part VI, Section B, Line 15

The board of directors is provided an analysis of similar nonprofit compensation for similar positions based on a maryland nonprofit compensation survey. The board of directors reviews this information, determines the appropriate annual salary and provides final approval.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents and policies, along with certain financial information, upon written request.

Filing and Contact Details

Filer

Filer Name
Cornerstone Franciscan Ministries Inc
EIN
92-0283902
Phone
4105382830
Address
PO BOX 5257, LUTHERVILLE, MD 21094

Signing Officer

Name
Ab Jay Boggs Jr
Title
CEO
Phone
4105382830
Signed
2025-08-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ab Jay Boggs Jr
Formed
2022
Legal Domicile
Md
Voting Board Members
7
Independent Board Members
7
Employees
22
Volunteers
0

Preparer

Firm
Gross Mendelsohn & Associates Pa
Address
1801 PORTER STREET SUITE 500, BALTIMORE, MD 21230
Preparer
James E Crisp
Phone
4106855512
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

Cornerstone has no liability for uncertain tax positions. Cornerstone's federal exempt organization tax returns are subject to examination by the internal revenue service, generally for a period of three years after the returns are filed.

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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt01654896
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt010115898
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt038727
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt013063
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt051790
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0424423
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportTotal170Amt010115898
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt02180699
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt06280303
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt01654896
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt010115898
IRS990ScheduleA/TotalSupportAmt010167688
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt02707747
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/NetUnrealizedGainsInvstAmt016539
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt0250000
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt17027
IRS990ScheduleD/OtherSecuritiesGrp/Desc0CERTIFICATES OF DEPOSIT
IRS990ScheduleD/OtherSecuritiesGrp/Desc1MONEY MARKET FUNDS
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd1F
IRS990ScheduleD/RevenueNotReportedAmt016539
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt02484879
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0CORNERSTONE HAS NO LIABILITY FOR UNCERTAIN TAX POSITIONS. CORNERSTONE'S FEDERAL EXEMPT ORGANIZATION TAX RETURNS ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE, GENERALLY FOR A PERIOD OF THREE YEARS AFTER THE RETURNS ARE FILED.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueSecuritiesAmt0257027
IRS990ScheduleD/TotalExpensesPerForm990Amt02707747
IRS990ScheduleD/TotalRevenuePerForm990Amt02484879
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02501418
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02707747
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt01263549
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0RENTAL ASSISTANCE FUNDED THROUGH GOVERNMENT GRANTS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt0206
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0CORNERSTONE DETERMINES THE ELIGIBILITY OF TENANTS WHO NEED RENTAL ASSISTANCE, REQUIRE SPECIFIC DOCUMENTATION, INCLUDING SIGNED LEASES, AND INCOME VERIFICATION. RENTAL ASSISTANCE PAYMENTS ARE PAID DIRECTLY TO THE RESPECTIVE LANDLORD.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/CompensationCommitteeInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/Form990OfOtherOrganizationsInd0X
IRS990ScheduleJ/IndependentConsultantInd0X
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0170402
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt06800
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt01099
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0ABBOGGS JR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0DIRECTOR, EX-OFFICIO, CEO/
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0178301
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS IS PROVIDED AN ANALYSIS OF SIMILAR NONPROFIT COMPENSATION FOR SIMILAR POSITIONS BASED ON A MARYLAND NONPROFIT COMPENSATION SURVEY. THE BOARD OF DIRECTORS REVIEWS THIS INFORMATION, DETERMINES THE APPROPRIATE ANNUAL SALARY AND PROVIDES FINAL APPROVAL.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE J, PART I, LINE 3
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleJ/WrittenEmploymentContractInd0X
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A DRAFT OF THE FORM 990 IS REVIEWED IN DETAIL BY THE CEO/CFO AND THEN FORWARDED TO THE FULL BOARD FOR REVIEW AND APPROVAL BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AT LEAST ONCE A YEAR, MANAGEMENT REQUESTS THAT ALL MEMBERS OF THE BOARD OF DIRECTORS AND ALL EMPLOYEES VERIFY THAT THEY ARE NOT AWARE OF ANY CONFLICTS OF INTEREST. IF A CONFLICT OR POTENTAL CONFLICT IS REPORTED, THE EXECUTIVE DIRECTOR AND SEVERAL MEMBERS OF THE BOARD WILL INVESTIGATE THE POTENTIAL CONFLICT TO DETERMINE WHAT NEEDS TO BE DONE TO MITIGATE A CONFLICT. IF IT INVOLVES A BOARD MEMBER AND THE CONFLICT CANNOT BE MITIGATED, THAT BOARD MEMBER WILL NOT BE PART OF ANY DISCUSSIONS RELATED TO THE MATTER, INCLUDING ABSTAINING FROM VOTING ON SUCH MATTERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS IS PROVIDED AN ANALYSIS OF SIMILAR NONPROFIT COMPENSATION FOR SIMILAR POSITIONS BASED ON A MARYLAND NONPROFIT COMPENSATION SURVEY. THE BOARD OF DIRECTORS REVIEWS THIS INFORMATION, DETERMINES THE APPROPRIATE ANNUAL SALARY AND PROVIDES FINAL APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND POLICIES, ALONG WITH CERTAIN FINANCIAL INFORMATION, UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt02316635
IRS990/TotalAssetsEOYAmt01997492
IRS990/TotalAssetsGrp/BOYAmt02316635
IRS990/TotalAssetsGrp/EOYAmt01997492
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt02180699
IRS990/TotalEmployeeCnt022
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0169005
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02538742
IRS990/TotalFunctionalExpensesGrp/TotalAmt02707747
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0613355
IRS990/TotalLiabilitiesEOYAmt0500541
IRS990/TotalLiabilitiesGrp/BOYAmt0613355
IRS990/TotalLiabilitiesGrp/EOYAmt0500541
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01703280
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01496951
IRS990/TotalOtherCompensationAmt08834
IRS990/TotalProgramServiceExpensesAmt02538742

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