Overview
What is Cornerstone Apartments Inc?
Cornerstone Apartments Inc is a nonprofit organization situated in Vicksburg, Mississippi. Their primary focus is on providing supportive housing for individuals with disabilities, operating a 13-unit apartment complex that serves as a refuge for these individuals. The organization's mission is deeply committed to enhancing the living conditions and independence of these individuals, ensuring they have a safe and nurturing environment. The specifics of their activities and mission remain consistent, as reflected in the description provided in the information array.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, Two-Star out of Four Star rating. This rating suggests that while Cornerstone Apartments Inc performs adequately in terms of accountability and financial practices, there is room for improvement in overall effectiveness. The rating is entirely derived from a single beacon score focusing on accountability and finance.
The organization demonstrates strong governance with 100% of its board members being independent, and it maintains a small board size with six independent members. Additionally, there are no noted issues concerning asset diversion, which indicates a high level of integrity in financial management. The program expense ratio is impressive at 87.60%, showing that a significant portion of expenditures goes directly towards its programs.
However, the charity's overall rating of two stars signifies that despite these strengths, the organization may lack in some areas of effectiveness or impact measurement that could enhance its reputation and operational outcomes. Stakeholders may want to consider how the charity addresses these potential weaknesses moving forward.
This AI summary has been generated from information found on Charity Navigator.
Is Cornerstone Apartments Inc legitimate?
Cornerstone Apartments Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cornerstone Apartments 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.
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Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Cornerstone Apartments Inc?
Cornerstone Apartments Inc operates a 13-unit apartment complex, serving as a sanctuary for individuals with disabilities. The organization's mission is centered around providing supportive housing, aiming to enhance the living conditions and overall well-being of its residents. By offering a home environment that caters to their unique needs, Cornerstone Apartments Inc contributes to their residents' independence and quality of life. The focus is on fostering a sense of community and ensuring a safe and nurturing environment, thereby promoting a better living experience for individuals with disabilities.
Who is the CEO of Cornerstone Apartments Inc?
Milicent Ledbetter is the President of Cornerstone Apartments Inc.
What is the revenue of Cornerstone Apartments Inc?
Cornerstone Apartments Inc's revenue in 2023 was $80,712.
Who are the executives of Cornerstone Apartments Inc and what are their salaries?
Here are 6 key members and their salaries:
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Where can I find the form 990 for Cornerstone Apartments Inc?
Cornerstone Apartments Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Cornerstone Apartments Inc
Cornerstone Apartments Inc, as a nonprofit organization, operates a 13-unit apartment complex that serves as supportive housing for individuals with disabilities. The mission of this organization is to provide a living space that caters to the unique needs of individuals with disabilities, offering them a safe and supportive environment. By operating this apartment complex, Cornerstone Apartments Inc aims to contribute to the well-being and independence of these individuals, enabling them to lead fulfilling lives with dignity and respect. The organization's commitment to this cause is evident in its operation of the apartment complex, which is specifically designed to cater to the needs of individuals with disabilities.
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Impact
October, 2024
Cornerstone Apartments Inc plays a vital role in providing supportive housing for individuals with disabilities in Vicksburg, MS. By operating a 13-unit apartment complex, the organization offers a stable living environment that fosters independence and community integration for its residents. This initiative not only addresses critical housing needs but also enhances the quality of life for individuals facing challenges, ensuring they have a place to call home while receiving the necessary support. The impact of Cornerstone Apartments Inc extends beyond mere housing; it promotes dignity, well-being, and empowerment for its residents, contributing to a more inclusive community.
This information is meant to be a general summary of Cornerstone Apartments 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: $2
- Program Service Revenue: $80,710
- Gross Receipts: $80,712
Assets and Liabilities:
- Total Assets: $352,050
- Total Liabilities: $39,440
- Net Assets: $312,610
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL OF HSG TO DISABLED
Revenue
$80,710
Organization Details
Founding Year
1998
Phone
(601) 638-0031Principal Officer
Milicent Ledbetter
Main Address
3444 WISCONSIN AVENUE, VICKSBURG, MS, 391805331
NTEE Category
Code: L200 - Housing
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