Overview
What is Cornerstone Of Hope Inc?
Cornerstone Of Hope Inc is a nonprofit organization based in Janesville, Wisconsin. Their primary mission is to help economically disadvantaged individuals, including families, veterans, and senior citizens, by providing opportunities to improve their living conditions and quality of life. They focus on affordable housing, offering no-interest 30-year mortgages for newly constructed homes, which are approximately 1,100 square feet with three bedrooms, one bathroom, a kitchen, living room, and dining area. The program encourages homeowners to learn maintenance and care skills, aiming to set them up for long-term success. The organization's activities and mission are rooted in Christian values and may partner with other charitable organizations to achieve their goals. They currently have a team of 3 dedicated individuals.
Official website here: www.csohwi.com
Is Cornerstone Of Hope Inc legitimate?
Cornerstone Of Hope Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cornerstone Of Hope Inc 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: $64,500
Professional Fundraising Fees: $0
Other Salaries and Wages: $59,574
For more financial information, click here
Official website here: www.csohwi.com
What is the mission statement of Cornerstone Of Hope Inc?
Cornerstone Of Hope Inc's mission is centered around extending aid to economically disadvantaged individuals in the United States and beyond. The organization strives to promote the Gospel of Jesus Christ while working collaboratively with other charitable organizations to enhance living conditions for those in need. Cornerstone Of Hope Inc. specifically focuses on improving the lives of working-class families, veterans, and senior citizens in the lower to middle-income bracket, helping them achieve better nutrition, safer living conditions, and affordable housing. The organization's initiatives include new home construction, where eligible families are provided with no-interest, 30-year mortgages after completing their required sweat equity hours. The homes, typically 1,100 square feet, include three bedrooms, one bathroom, kitchen, living room, and dining areas. This helps families learn essential home maintenance skills and sets them up for long-term financial success with manageable mortgage payments.
Official website here: www.csohwi.com
Who is the CEO of Cornerstone Of Hope Inc?
David Thomas is the President of Cornerstone Of Hope Inc.
Official website here: www.csohwi.com
What is the revenue of Cornerstone Of Hope Inc?
Cornerstone Of Hope Inc's revenue in 2022 was $152,146.
Official website here: www.csohwi.com
Who are the executives of Cornerstone Of Hope Inc and what are their salaries?
The average compensation at Cornerstone Of Hope Inc during 2022 was $41,358. There are 3 employees and 83 volunteers at Cornerstone Of Hope Inc.
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $64,500
- Related: $0
- Other: $0
Official website here: www.csohwi.com
Where can I find the form 990 for Cornerstone Of Hope Inc?
Cornerstone Of Hope Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.csohwi.com
Learn more at the official website: www.csohwi.com
Mission Statement of Cornerstone Of Hope Inc
Cornerstone of Hope Inc, a nonprofit organization, is committed to improving the lives of working-class families, veterans, and senior citizens in the lower to middle-income brackets. The mission of this organization is to empower these individuals to enhance their living conditions and provide a better future for their children. It accomplishes this through various means, including offering affordable housing, better nutrition, and education on home maintenance.
Cornerstone of Hope Inc specializes in constructing new homes for families who do not qualify for conventional mortgages. These homes are sold at no-interest, 30-year mortgages, with the families required to complete their sweat equity hours before taking full ownership. The homes, typically around 1,100 square feet, include three bedrooms, one bathroom, a kitchen, living room, and dining area. Through this process, families not only gain a place to call their own but also learn the skills necessary to maintain and care for their homes, setting them up for long-term success.
In summary, Cornerstone of Hope Inc exists to support families and individuals in need by providing them with the resources and opportunities to improve their living conditions and create a better life for themselves and their children. By offering affordable housing, education on home maintenance, and resources for better nutrition, Cornerstone of Hope Inc is dedicated to helping families in the lower to middle-income brackets achieve a better future.
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Impact
October, 2024
Cornerstone Of Hope Inc significantly impacts the lives of economically disadvantaged individuals and families in Wisconsin and beyond by focusing on two key areas: affordable housing and community support. Through its innovative home construction program, it assists families who cannot qualify for traditional mortgages, enabling them to achieve homeownership. This is accomplished by offering homes at no-interest 30-year mortgages after families contribute sweat equity, fostering a sense of ownership and accomplishment.
The homes provided are thoughtfully designed, promoting a safe and nurturing environment for families. They are set up to ensure long-term success, with mortgage payments that are manageable, accounting for no more than 30% of a family’s monthly income, which alleviates financial stress and enhances stability.
Moreover, Cornerstone Of Hope works collaboratively with other charitable organizations to amplify its efforts, aiming for a broader impact on community development. By focusing on better nutrition, safer living conditions, and education in home maintenance, it plays a crucial role in improving the overall quality of life for working-class families, veterans, and senior citizens. This holistic approach not only empowers families but also contributes to the development of thriving, supportive communities.
This information is meant to be a general summary of Cornerstone Of Hope Inc. 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: $440
- Program Service Revenue: $119,680
- Gross Receipts: $158,117
Assets and Liabilities:
- Total Assets: $634,358
- Total Liabilities: $12,873
- Net Assets: $621,485
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MORTGAGE DISCOUNT AMORTIZATION
Revenue
$119,287
PRODUCE FOR PANTRIES REVENUE
Revenue
$393
Organization Details
Founding Year
2013
Phone
(608) 563-4673Principal Officer
David Thomas
Main Address
PO BOX 8164, JANESVILLE, WI, 53547
Website
www.csohwi.comNTEE Category
Code: L20 - Housing
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