Overview
What is Cornerstone Of Topeka Inc?
Cornerstone Of Topeka Inc is a nonprofit organization situated in Topeka, Kansas, with a primary focus on breaking the cycle of homelessness. They operate a combined Transitional Housing Program (THP) and Affordable Housing Program (AHP), both aimed at providing housing solutions for moderate and low-income families. The Transitional Housing Program offers temporary housing for up to six months, helping homeless individuals and families secure permanent housing. Admissions to the program are typically made through referrals from shelters or social service agencies and follow selective criteria. The Affordable Housing Program, on the other hand, offers below-market rental housing, with over 160 units available. These homes and apartments are rent-restricted, ensuring they are only accessible to low-income households earning at or below 80% of the area median income. Some units are further restricted for lower-income families or special needs individuals, such as the homeless or disabled. Although home ownership opportunities are no longer the primary focus of Cornerstone, they may consider selling homes to qualified tenants. Cornerstone's efforts are directed towards revitalizing Topeka neighborhoods and providing decent, safe, accessible, and affordable housing of choice to moderate and low-income families.
Official website here: www.cornerstoneoftopeka.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
Cornerstone of Topeka Inc holds a strong Four-Star rating from Charity Navigator, indicating a high level of accountability and finance management. The charity's overall score is derived entirely from its stellar performance in accountability and finance, reflecting the organization’s commitment to transparency and effective fiscal management.
The organization demonstrates significant strengths in governance, with an independent board consisting of 100% independent members and a robust financial oversight structure, ensuring that funds are used appropriately and efficiently. Highlights include a high program expense ratio of 81.19%, indicating that a substantial portion of its budget directly supports its mission-related activities.
There are no notable limitations or concerns reported regarding Cornerstone of Topeka Inc’s financial practices or governance. The charity has established comprehensive policies, such as conflict of interest and whistleblower protections, which further enhance its accountability and integrity. Overall, it stands out as a reliable nonprofit organization dedicated to its cause.
This AI summary has been generated from information found on Charity Navigator.
Is Cornerstone Of Topeka Inc legitimate?
Cornerstone Of Topeka Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cornerstone Of Topeka 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: $102,730
Professional Fundraising Fees: $0
Other Salaries and Wages: $237,221
For more financial information, click here
Official website here: www.cornerstoneoftopeka.org
What is the mission statement of Cornerstone Of Topeka Inc?
Cornerstone Of Topeka Inc is committed to breaking the cycle of homelessness and providing decent, safe, accessible, and affordable housing options to moderate and low-income households. Their efforts are directed towards offering temporary housing to homeless individuals and families with children for up to six months, helping them secure permanent housing. Additionally, they operate an affordable housing program with over 160 units of below-market rental housing, available only to low-income households earning at or below 80% of the area median income. Some units are further restricted for special needs, such as those for the homeless or disabled. While home ownership opportunities are no longer a primary focus of Cornerstone Of Topeka Inc, they may consider selling their homes to qualified tenants.
Official website here: www.cornerstoneoftopeka.org
Who is the CEO of Cornerstone Of Topeka Inc?
Christopher Palmer is the Board Member of Cornerstone Of Topeka Inc.
Official website here: www.cornerstoneoftopeka.org
What is the revenue of Cornerstone Of Topeka Inc?
Cornerstone Of Topeka Inc's revenue in 2022 was $1,755,566.
Official website here: www.cornerstoneoftopeka.org
Who are the executives of Cornerstone Of Topeka Inc and what are their salaries?
The average compensation at Cornerstone Of Topeka Inc during 2022 was $48,564. There are 7 employees and 10 volunteers at Cornerstone Of Topeka Inc.
Here are 11 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $78,991
- Related: $0
- Other: $33,872
Official website here: www.cornerstoneoftopeka.org
Where can I find the form 990 for Cornerstone Of Topeka Inc?
Cornerstone Of Topeka Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.cornerstoneoftopeka.org
Learn more at the official website: www.cornerstoneoftopeka.org
Mission Statement of Cornerstone Of Topeka Inc
Cornerstone of Topeka Inc is dedicated to interrupting the cycle of homelessness in a significant way. Their mission encompasses three primary goals: providing decent, safe, and affordable housing options for moderate and low-income households, temporarily housing homeless individuals and families with children to help them secure permanent housing, and revitalizing the neighborhoods of Topeka. The organization operates a combined Transitional Housing Program (THP) and Affordable Housing Program (AHP), aiming to break the cycle of homelessness and offer rent-restricted housing units to qualified individuals and families who earn at or below 80% of the area median income. While home ownership opportunities are no longer a primary focus for Cornerstone of Topeka Inc, they may consider selling homes to qualified tenants.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
July, 2024
Cornerstone Of Topeka Inc's impact lies in interrupting the cycle of homelessness and providing decent, safe, accessible, and affordable housing to moderate and low-income households in Topeka. Through its combined Transitional Housing Program and Affordable Housing Program, the organization offers temporary housing to homeless individuals and families while assisting them in obtaining permanent housing. With an inventory of over 160 units of below-market rental housing, Cornerstone ensures that low-income households have access to affordable homes, further contributing to the revitalization of Topeka neighborhoods.
This information is meant to be a general summary of Cornerstone Of Topeka 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: -$50,685
- Program Service Revenue: $926,614
- Gross Receipts: $1,962,025
Assets and Liabilities:
- Total Assets: $9,462,883
- Total Liabilities: $1,909,927
- Net Assets: $7,552,956
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$809,932
MISC PROGRAM FEES
Revenue
$60,546
DEVELOPER FEES
Revenue
$56,136
Organization Details
Founding Year
1986
Phone
(785) 232-1650Principal Officer
Christopher Palmer
Main Address
1195 SW BUCHANAN ST 103, TOPEKA, KS, 666044198
Website
www.cornerstoneoftopeka.orgNTEE Category
Code: L200 - Housing
If you are a representative of Cornerstone Of Topeka Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.