Overview
What is Cornerstone Alliance?
Cornerstone Alliance is an economic development organization situated in Benton Harbor, Michigan. Their primary mission is to enhance the economic prosperity of Michigan's southwest region. The organization has a strategic plan for 2018-2020, focusing on five key areas: attracting new businesses, retaining and expanding existing ones, fostering entrepreneurship, nurturing talent, and enhancing the region's image. To achieve these objectives, they engage in activities such as generating business leads, supporting existing businesses, promoting startups, and improving the region's perception.
Official website here: www.cstonealliance.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94%, Four-Star out of Four Stars
Cornerstone Alliance has received a commendable Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and financial health. With a total score of 94%, the organization demonstrates transparency and responsible management of funds, which is vital for donor trust and engagement. The charity's financial statements are thoroughly audited, and it has a robust governance structure, including a fully independent board.
The strengths of Cornerstone Alliance are particularly notable in its program expense ratio, which is an impressive 71.51%. This indicates that a significant portion of its funds is allocated directly to programs, maximizing the impact of donations. Additionally, the organization has no material diversions of assets and maintains a solid financial oversight with effective policies in place, further enhancing its credibility.
However, while the charity excels in many areas, it could improve its fundraising efficiency, as indicated by a cost of $0.062 for every dollar raised. This factor could be a consideration for potential donors looking at the overall efficacy of their contributions. Overall, Cornerstone Alliance stands out for its strong operational practices and commitment to its mission.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Cornerstone Alliance?
66% of reviewers on Facebook recommend Cornerstone Alliance. Here is a summary of their reviews:
Many users express gratitude for the support that Cornerstone Alliance provides to the Benton Harbor community. They highlight the organization's instrumental role in fostering new business development, suggesting that the nonprofit is making a tangible impact in improving local resources and opportunities.
However, the overall recommendation rate indicates a mixed reception, with some reviewers possibly feeling less satisfied or having different experiences. While there is appreciation for the initiatives aimed at community improvement, the feedback does suggest that there may be room for growth in how the nonprofit engages with or serves its constituents.
This AI summary has been generated from reviews found on Facebook.
Is Cornerstone Alliance legitimate?
Cornerstone Alliance is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cornerstone Alliance submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $406,491
Professional Fundraising Fees: $0
Other Salaries and Wages: $568,060
For more financial information, click here
Official website here: www.cstonealliance.org
What is the mission statement of Cornerstone Alliance?
Cornerstone Alliance, an economic development organization, is committed to enhancing the economic performance of a specific region. Their mission is primarily focused on five key areas: attracting new businesses and generating leads, retaining and expanding existing businesses, promoting entrepreneurship and startup companies, nurturing talent, and improving the region's perception. Their strategic plan for 2018-2020 aims to achieve these objectives.
Official website here: www.cstonealliance.org
Who is the CEO of Cornerstone Alliance?
Rob Cleveland is the Chair of Cornerstone Alliance. The CEO's salary of Cornerstone Alliance is $262,776 and their total compensation is $275,625.
Official website here: www.cstonealliance.org
What is the revenue of Cornerstone Alliance?
Cornerstone Alliance's revenue in 2022 was $3,194,171.
Official website here: www.cstonealliance.org
Who are the executives of Cornerstone Alliance and what are their salaries?
The average compensation at Cornerstone Alliance during 2022 was $81,213. There are 12 employees and 20 volunteers at Cornerstone Alliance.
Here are 30 key members and their salaries (Cornerstone Alliance's CEO's salary is $262,776 and their total compensation is $275,625):
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Official website here: www.cstonealliance.org
Where can I find the form 990 for Cornerstone Alliance?
Cornerstone Alliance's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.cstonealliance.org
Learn more at the official website: www.cstonealliance.org
Mission Statement of Cornerstone Alliance
Cornerstone Alliance, an economic development organization, is committed to enhancing the economic performance of Michigan's southwest region. Their mission is twofold: firstly, they strive to attract new businesses and generate leads in the area. Secondly, they focus on retaining, expanding, and supporting existing businesses within their scope. Additionally, they encourage entrepreneurship and the growth of startup companies to further boost the local economy. Furthermore, Cornerstone Alliance is dedicated to nurturing talent in the region, recognizing its significance in fostering a thriving business environment. Lastly, they aim to improve the overall perception of the region, working towards a positive and attractive image for potential investors and entrepreneurs.
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Impact
July, 2024
Cornerstone Alliance has a significant impact on the economic performance of Michigan's great southwest region. Through their strategic initiatives focused on generating leads for new businesses, retaining and supporting existing businesses, promoting entrepreneurship, growing talent, and improving the region's perception, Cornerstone Alliance plays a crucial role in driving economic development and community improvement in Benton Harbor and beyond. Their efforts contribute to job creation, business growth, and overall economic prosperity in the region.
This information is meant to be a general summary of Cornerstone Alliance. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: -$18,080
- Program Service Revenue: $252,882
- Gross Receipts: $3,226,346
Assets and Liabilities:
- Total Assets: $8,999,885
- Total Liabilities: $2,947,317
- Net Assets: $6,052,568
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM RENTAL INCOME
Revenue
$122,340
OTHER PROGRAM INCOME
Revenue
$62,190
PARTNERSHIP INCOME
Revenue
$41,144
REIMBURSEMENTS FOR PRO
Revenue
$27,208
Organization Details
Founding Year
1988
Phone
(269) 925-6100Principal Officer
Rob Cleveland
Main Address
80 W MAIN ST, BENTON HARBOR, MI, 49022
Website
www.cstonealliance.orgNTEE Category
Code: S300 - Community improvement
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