Overview
What is Cornerstone Corporation?
Cornerstone Corporation is a Christian Community Development Corporation situated in Saint Louis, Missouri, specifically at 6030 ETZEL. This nonprofit organization is dedicated to providing an equitable opportunity for quality, affordable housing to individuals who might otherwise be unable to secure such accommodations. Beyond offering housing solutions, Cornerstone empowers its community members to enhance their capacities, enabling them to pursue their life goals with dignity. The corporation also collaborates with the community, contributing to neighborhood development and fostering personal achievement in the West End neighborhood. With a modest workforce of two dedicated individuals, Cornerstone Corporation's mission is to instill hope and value in the community while promoting affordable housing and community development.
Official website here: www.cornerstonestl.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 92% (Four-Star out of Four Stars)
Cornerstone Corporation has achieved a strong rating of 92%, indicating a high level of accountability and financial health. The organization boasts a majority-independent board with 85% of its members being independent, ensuring diverse perspectives and governance. Their financial practices are robust, evidenced by a perfect score for their financial statements and a favorable liabilities-to-assets ratio.
One of the organization's notable strengths is its commitment to transparency, as reflected in their comprehensive documentation and the absence of any material diversion of assets. Furthermore, the program expense ratio of 69.69% suggests that a significant portion of their funding is directed toward fulfilling their mission.
However, there is a noted limitation regarding the absence of a whistleblower policy, which may raise concerns about internal governance practices. Addressing this gap could enhance their accountability framework and further strengthen their overall rating.
This AI summary has been generated from information found on Charity Navigator.
Is Cornerstone Corporation legitimate?
Cornerstone Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cornerstone Corporation 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: $92,942
Professional Fundraising Fees: $0
Other Salaries and Wages: $79,510
For more financial information, click here
Official website here: www.cornerstonestl.org
What is the mission statement of Cornerstone Corporation?
Cornerstone Corporation, as a Christian Community Development Corporation, strives to offer an equal opportunity for affordable housing to individuals who might not otherwise have access to it. The organization operates with the goal of instilling hope and value within the community, contributing to its development and aiding residents in achieving their life goals with dignity. By collaborating with community members, Cornerstone Corporation seeks to enhance their capacity to achieve personal achievements.
Official website here: www.cornerstonestl.org
Who is the CEO of Cornerstone Corporation?
Jeremy Moore is the President of Cornerstone Corporation.
Official website here: www.cornerstonestl.org
What is the revenue of Cornerstone Corporation?
Cornerstone Corporation's revenue in 2022 was $957,441.
Official website here: www.cornerstonestl.org
Who are the executives of Cornerstone Corporation and what are their salaries?
The average compensation at Cornerstone Corporation during 2022 was $86,226. There are 2 employees at Cornerstone Corporation.
Here are 6 key members and their salaries:
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Official website here: www.cornerstonestl.org
Where can I find the form 990 for Cornerstone Corporation?
Cornerstone Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.cornerstonestl.org
Learn more at the official website: www.cornerstonestl.org
Mission Statement of Cornerstone Corporation
Cornerstone Corporation, a Christian Community Development Corporation, is dedicated to providing an equal opportunity for quality, affordable housing to individuals who would otherwise be unable to secure such living arrangements. Beyond housing, the organization seeks to instill value and hope within the neighborhood it serves. Through its mission, Cornerstone Corporation strives to foster community development and encourage personal achievement, empowering residents to reach their life goals with dignity.
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Impact
July, 2024
Cornerstone Corporation is making a profound impact in the Saint Louis community by providing equitable opportunities for quality, affordable housing to individuals who may not have access otherwise. Their focus on empowering community members to achieve their life goals with dignity and fostering collaboration within the community is truly transformative. Through their efforts, Cornerstone Corporation is not just addressing the housing needs but also nurturing personal growth and promoting community development in the West End neighborhood. Their work instills value and hope in the residents, ultimately leading to a more resilient and thriving community.
This information is meant to be a general summary of Cornerstone Corporation. 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: $474,756
- Program Service Revenue: $137,681
- Gross Receipts: $957,441
Assets and Liabilities:
- Total Assets: $1,292,829
- Total Liabilities: $192,053
- Net Assets: $1,100,776
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL HOUSING
Revenue
$137,681
Organization Details
Founding Year
1976
Phone
(314) 726-2273Principal Officer
Jeremy Moore
Main Address
6030 ETZEL, Saint Louis, MO, 63112
Website
www.cornerstonestl.orgNTEE Category
Code: L210 - Housing
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