Overview
What is Cornerstone Housing North Inc?
Cornerstone Housing North Inc, located in Berlin, New Hampshire, is a dedicated nonprofit organization. Their primary mission is to provide affordable and supportive housing for the elderly population falling under the very-low and low-income brackets. This mission is carried out through their activities and mission, which involve offering affordable housing, ensuring the residents have necessary support. The organization's address is 30 Exchange Street.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Star rating)
Cornerstone Housing North Inc has received a 79% score from Charity Navigator, indicating a solid performance in terms of accountability and finance. This score is based entirely on the organization's Accountability & Finance measures, suggesting that stakeholders can be confident in the financial management practices of the nonprofit. The organization boasts a fully independent board, which is an essential factor in maintaining transparency and ethical governance.
The nonprofit excels in several areas, including having no material diversion of assets and a well-documented conflict of interest policy. Additionally, it has a high program expense ratio of 74.23%, showing that a significant portion of its funding is directed towards its programs rather than administrative costs. These strengths highlight Cornerstone Housing North Inc's commitment to responsible financial practices and effective program delivery.
Nevertheless, the organization has a liabilities to assets ratio of 94.71%, which is a potential concern as it indicates high liabilities relative to its assets. This could suggest financial vulnerabilities that may need to be addressed in the future. Overall, while the organization demonstrates strong accountability, it will be important for stakeholders to monitor its financial health moving forward.
This AI summary has been generated from information found on Charity Navigator.
Is Cornerstone Housing North Inc legitimate?
Cornerstone Housing North Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cornerstone Housing North 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Cornerstone Housing North Inc?
Cornerstone Housing North Inc is committed to providing affordable and supportive housing for the elderly with very low and low incomes. This mission is aimed at enhancing the living conditions of this demographic, ensuring they have a secure and comfortable place to call home. The organization's primary goal is to make housing accessible and supportive, thereby improving the quality of life for this vulnerable group. Through its efforts, Cornerstone Housing North Inc strives to provide a sense of security and independence, allowing elderly individuals to age with dignity and peace of mind.
Who is the CEO of Cornerstone Housing North Inc?
Sandy Alonzo is the Chair of Cornerstone Housing North Inc.
What is the revenue of Cornerstone Housing North Inc?
Cornerstone Housing North Inc's revenue in 2023 was $169,212.
Who are the executives of Cornerstone Housing North Inc and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Cornerstone Housing North Inc?
Cornerstone Housing North Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Cornerstone Housing North Inc
Cornerstone Housing North Inc is committed to providing affordable and supportive housing for the elderly population who fall under the categories of very-low and low income. The organization's mission is to ensure that elderly individuals have access to housing that is both affordable and supportive, empowering them to live with dignity and independence. By offering affordable housing, Cornerstone Housing North Inc aims to alleviate the financial burden that many elderly individuals face, allowing them to focus on other aspects of their lives. Additionally, the organization provides supportive services to its residents, ensuring that they have the resources and assistance they need to maintain their well-being. Overall, Cornerstone Housing North Inc is dedicated to improving the lives of elderly individuals by providing them with the housing and support they need to thrive.
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Impact
October, 2024
Cornerstone Housing North Inc has a significant impact on the community by providing affordable and supportive housing specifically tailored to very-low and low-income elderly individuals. By addressing the housing needs of this vulnerable population in Berlin, NH, the organization helps to enhance their quality of life and promote dignity and independence.
Through its initiatives, Cornerstone Housing North Inc ensures that elderly residents have access to safe, stable living conditions, which are crucial for their well-being. This support not only alleviates financial burdens on seniors but also fosters a sense of community, reducing isolation and improving mental health. The organization’s commitment to affordable housing plays a vital role in empowering elderly individuals to live with dignity and respect, ultimately contributing to a healthier, more inclusive community.
This information is meant to be a general summary of Cornerstone Housing North 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 2023.
- Investment Income: $47
- Program Service Revenue: $65,803
- Gross Receipts: $169,212
Assets and Liabilities:
- Total Assets: $2,123,839
- Total Liabilities: $2,011,567
- Net Assets: $112,272
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENT
Revenue
$63,678
LAUNDRY AND A/C INCOME
Revenue
$2,125
Organization Details
Founding Year
2005
Phone
(603) 752-7001Principal Officer
Sandy Alonzo
Main Address
30 EXCHANGE STREET, BERLIN, NH, 03570
NTEE Category
Code: L21 - Housing
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