About The Foundation
Cornerstone Bancshares Foundation is a 501 (c) (3) philanthropic organization affiliated with Cornerstone Community Bank headquartered in Chattanooga, Tennessee. At the end of 2006, $500,000 was set aside to form a Foundation by the Directors of Cornerstone Bancshares, Inc., parent company of Cornerstone Community Bank. The purpose of Cornerstone Bancshares Foundation is to broaden support to the communities served by the Bank in ways not currently achieved through its annual donations, sponsorships or other community-based programs. The Foundation’s support is provided on a stand alone basis, completely separate from Cornerstone Community Bank’s other activities.
The Cornerstone Bancshares Foundation provides financial support for community-based not-for-profit efforts in locations where the Bank provides services and for not for profit organizations that create sustainable solutions to local problems affecting three specific areas:
- At-Risk Youth
- Economic/Entrepreneurial Development
The Foundation will provide financial gifts annually to qualifying not-for-profit efforts which satisfy its mission, funding goals and evaluation criteria. The Foundation’s total annual giving will be determined annually based on total endowment size, endowment earnings and earnings the Foundation conducts from other fundraising activities.
To be considered for a charitable contribution from the Cornerstone Bancshares Foundation, the Foundation must receive a completed application.