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CORNERSTONE CREDIT UNION

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Public IRS 990 nonprofit record

CORNERSTONE CREDIT UNION

EIN 36-2217287 · Credit Unions (W61)

What they do

CORNERSTONE CREDIT UNION is A COMMUNITY-FOCUSED FINANCIAL COOPERATIVE COMMITTED to PROVIDING QUALITY, DIFFERENTIATED SERVICES to ITS MEMBER-OWNERS. OUR PROFESSIONAL STAFF and VOLUNTEERS WILL ENSURE FISCAL STABILITY THROUGH RESPONSIBLE LEADERSHIP and GROWTH.

Before you give

Should I give to this charity?

Easy charity check
We do not have enough spending detail

Basic public information is available, but it is not enough to judge how well donations are used. Ask the charity for a current spending breakdown and results.

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 checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

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

They name their leaders13 people are listed in the latest report.

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

Money made simple

$91.80spent for every $100 of revenueRevenue covered expenses this year.
$18.88in assets for every $1 spent this yearSome assets cannot be spent right away.

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  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.

Pay context: The highest compensation shown in this filing is $187,303 for GAIL CLORE (PRESIDENT). 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 2024

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$9,439,660
Expenses$8,665,479
Annual surplus $774,181 Revenue was higher than expenses for this filing year.
See all reported dollar amounts
Revenue$9,439,660
Expenses$8,665,479
Assets$163,615,171
Income$9,439,660
Stocks and bonds$18,697,309
Accounting fees$47,000
People

Leadership and board

Tax year 2024

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

People reported as paid

Person and titleCompensation
GAIL CLOREPRESIDENT · 40 hrs/week $187,303Base $176,115 · Other $11,188
DAVID HOFFERTVP OF OPERATIONS · 40 hrs/week $160,156Base $149,498 · Other $10,658
JIM COONSVP OF FINANCE · 40 hrs/week $149,109Base $128,763 · Other $20,346
SCOTT ARNOLDVP OF LENDING · 40 hrs/week $139,366Base $125,308 · Other $14,058

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 (13)

GAIL CLOREPRESIDENT

DAVID HOFFERTVP OF OPERATIONS

JIM COONSVP OF FINANCE

SCOTT ARNOLDVP OF LENDING

CHARLES BEYERCHAIR

CHELSEA WHITEDIRECTOR THRU MAY

CHRISTINE KLIPPINGDIRECTOR

CONNIE KRAFTDIRECTOR

DANIEL SCHOAFVICE CHAIR/TREASURER

KENNETH EICHHOLZ JRDIRECTOR

RANDY CHURCHDIRECTOR THRU MARCH

TRAVIS VOSSDIRECTOR

VALERIE ROTHERMEL-NELSONSECRETARY

About this charity

Recognized since
January 1941
Location
550 W MEADOWS DR, FREEPORT, IL 61032-5072
County
Stephenson
In care of
GAIL CLORE
Primary officer
GAIL CLORE, PRESIDENT

How to reach them

Filing and classification

Latest tax year
2024
Tax period began
January 1, 2024
Return type
990
Tax preparer
WIPFLI LLP
NTEE classification
Credit Unions (W61)
IRS tax category
Credit Unions

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

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