Overview
What is Cornerstone Folsom Gardens Corporation Ii?
Cornerstone Folsom Gardens Corporation II is a not-for-profit organization, established in compliance with California's laws. Its primary objective is to acquire and manage a 48-unit apartment complex named Folsom Gardens Apartments II, situated in Folsom, California. This community-focused entity operates with the intention of providing affordable housing solutions, contributing positively to the local community. While the information provided does not detail any additional programs or services, it is clear that Cornerstone Folsom Gardens Corporation II prioritizes housing needs within its mission.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 87% (Three-Star out of Four Star rating)
Cornerstone Folsom Gardens Corporation II has received an overall rating of 87%, which reflects a strong performance in accountability and finance. The rating is based solely on the Accountability & Finance beacon, indicating that the organization prioritizes transparent management of its financial resources. This high score suggests that donors can trust the charity to effectively allocate funds and uphold governance standards.
The organization boasts a fully independent board, with 66% of members meeting this criterion. Additionally, it has demonstrated excellent practices in financial oversight, with no material diversion of assets and a high program expense ratio of 94.90%. This shows a strong commitment to delivering its programs and services efficiently, maximizing the impact of donor contributions.
However, while the financial indicators are robust, potential donors might consider looking for more information regarding the charity's programmatic outcomes and impact. The Charity Navigator rating focuses heavily on accountability and financial metrics, which are essential but do not provide a complete picture of the organization's overall effectiveness in fulfilling its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Cornerstone Folsom Gardens Corporation Ii legitimate?
Cornerstone Folsom Gardens Corporation Ii is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cornerstone Folsom Gardens Corporation Ii 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: $99,976
For more financial information, click here
What is the mission statement of Cornerstone Folsom Gardens Corporation Ii?
Cornerstone Folsom Gardens Corporation II is established as a not-for-profit entity under California's laws, with the primary objective of acquiring and managing a 48-unit apartment community named Folsom Gardens Apartments II. While the provided information does not specify an explicit mission statement, it can be inferred that their mission is centered around providing housing and community management services. This organization likely aims to provide a comfortable living environment and community services for its residents. However, without additional information, a detailed mission statement cannot be fully ascertained.
Who is the CEO of Cornerstone Folsom Gardens Corporation Ii?
Stan Keasling is the Chair/Director of Cornerstone Folsom Gardens Corporation Ii.
What is the revenue of Cornerstone Folsom Gardens Corporation Ii?
Cornerstone Folsom Gardens Corporation Ii's revenue in 2022 was $593,557.
Who are the executives of Cornerstone Folsom Gardens Corporation Ii and what are their salaries?
There 2 volunteers at Cornerstone Folsom Gardens Corporation Ii.
Here are 18 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $189,462
- Other: $7,937
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $157,372
- Other: $10,314
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $151,225
- Other: $7,573
- Compensation: $0
- Related: $94,309
- Other: $16,925
- Compensation: $0
- Related: $189,811
- Other: $4,240
- Compensation: $0
- Related: $304,832
- Other: $28,064
- Compensation: $0
- Related: $256,515
- Other: $45,801
- Compensation: $0
- Related: $169,136
- Other: $31,795
- Compensation: $0
- Related: $215,449
- Other: $8,873
- Compensation: $0
- Related: $228,009
- Other: $33,552
- Compensation: $0
- Related: $198,100
- Other: $21,341
- Compensation: $0
- Related: $143,251
- Other: $38,467
- Compensation: $0
- Related: $164,838
- Other: $15,948
- Compensation: $0
- Related: $153,742
- Other: $9,217
- Compensation: $0
- Related: $161,460
- Other: $35,386
Where can I find the form 990 for Cornerstone Folsom Gardens Corporation Ii?
Cornerstone Folsom Gardens Corporation Ii's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Cornerstone Folsom Gardens Corporation Ii
Cornerstone Folsom Gardens Corporation II is a not-for-profit corporation established under the laws of California. Its primary mission is centered around acquiring and operating a 48-unit apartment community, known as Folsom Gardens Apartments II, located in Folsom, California. This organization is dedicated to providing a living space for its residents, fulfilling its role as a landlord and manager of this particular apartment community. It is important to note that Cornerstone Folsom Gardens Corporation II operates as a non-profit entity, meaning any surplus revenues are typically directed towards supporting its mission or community initiatives, rather than distributing profits to shareholders or owners.
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Impact
July, 2024
Cornerstone Folsom Gardens Corporation II's impact is focused on providing affordable housing through the operation of a 48-unit apartment community known as Folsom Gardens Apartments II in Folsom, California. By offering these housing units, the organization plays a crucial role in addressing the need for affordable housing in the community and supporting individuals and families in securing stable living arrangements. Through its mission, Cornerstone Folsom Gardens Corporation II contributes to enhancing the quality of life for residents in Folsom by providing a safe and sustainable housing option.
This information is meant to be a general summary of Cornerstone Folsom Gardens Corporation Ii. 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: $6
- Program Service Revenue: $296,149
- Gross Receipts: $593,557
Assets and Liabilities:
- Total Assets: $1,327,769
- Total Liabilities: $90,404
- Net Assets: $1,237,365
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
NET RENTAL REVENUE
Revenue
$287,097
ANCILLARY SERVICES
Revenue
$8,083
OTHER REVENUE
Revenue
$969
Organization Details
Founding Year
1994
Phone
(303) 830-3300Principal Officer
Stan Keasling
Main Address
1600 BROADWAY SUITE 2000, DENVER, CO, 802025704
NTEE Category
Code: L80Z - Housing
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