Overview
What is Cornerstone Housing For Adults With Disabilities?
Cornerstone Housing for Adults with Disabilities is a California-based nonprofit organization, established in June 2019, situated in North Hollywood. The primary mission of this organization is to provide housing for adults with recognized physical or mental disabilities or developmental disorders, who often have limited financial resources and rely on public and charitable assistance. The nonprofit is currently in the development stage, transforming a previously acquired land and building into a residential community aimed at accommodating these individuals. The project commenced construction in fiscal year 2021 and is expected to be completed in fiscal year 2023.
Official website here: www.thecornerstonevillage.org
What are the reviews and ratings of this charity?
Cornerstone Housing For Adults With Disabilities holds a high rating of 90% from Charity Navigator, earning it a Four-Star out of Four Star rating. This score indicates strong financial health and accountability within the organization. However, this rating is heavily weighted toward financial aspects, lacking consideration for leadership, adaptability, and community impact.
The organization's financial metrics demonstrate considerable strengths, such as a transparent and independent board, a robust program expense ratio, and an impressive working capital ratio. These indicators suggest financial stability and effective use of resources dedicated to their mission of supporting adults with disabilities.
While Cornerstone Housing excels in accountability and financial management, areas such as whistleblower policies and document retention practices could benefit from further development. Additionally, future assessments might consider incorporating broader evaluation components, such as cultural impact and adaptive leadership, to provide a more comprehensive picture.
This AI summary has been generated from information found on Charity Navigator.
Is Cornerstone Housing For Adults With Disabilities legitimate?
Cornerstone Housing For Adults With Disabilities is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cornerstone Housing For Adults With Disabilities 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:
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Official website here: www.thecornerstonevillage.org
What is the mission statement of Cornerstone Housing For Adults With Disabilities?
Cornerstone Housing for Adults with Disabilities is currently in the development stage of establishing living structures for individuals with intellectual and developmental disabilities who have limited financial resources. The organization's mission is to provide suitable living arrangements for these adults, aiming to support their needs effectively. As of now, the organization is in the process of transforming a land and building into a community that will cater to adults with recognized physical or mental disabilities and developmental disorders in the greater Los Angeles area. This community is anticipated to be completed by 2023.
Official website here: www.thecornerstonevillage.org
Who is the CEO of Cornerstone Housing For Adults With Disabilities?
Dr Michael Held is the President of Cornerstone Housing For Adults With Disabilities.
Official website here: www.thecornerstonevillage.org
What is the revenue of Cornerstone Housing For Adults With Disabilities?
Cornerstone Housing For Adults With Disabilities's revenue in 2022 was $11,507,131.
Official website here: www.thecornerstonevillage.org
Who are the executives of Cornerstone Housing For Adults With Disabilities and what are their salaries?
There 7 volunteers at Cornerstone Housing For Adults With Disabilities.
Here are 7 key members and their salaries:
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Official website here: www.thecornerstonevillage.org
Where can I find the form 990 for Cornerstone Housing For Adults With Disabilities?
Cornerstone Housing For Adults With Disabilities's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.thecornerstonevillage.org
Learn more at the official website: www.thecornerstonevillage.org
Mission Statement of Cornerstone Housing For Adults With Disabilities
Cornerstone Housing for Adults with Disabilities, a California-based nonprofit organization, is on a mission to provide adult living spaces for individuals with intellectual and developmental disabilities. Currently, the organization is in the development stage of constructing subsidized housing, aiming to cater to individuals in the Greater Los Angeles community who suffer from recognized physical or mental disabilities or developmental disorders. These individuals often have limited financial resources and rely on public and charitable assistance. The organization has acquired the land and building that will be transformed into the intended community, with construction commencing in fiscal year 2021. The project is expected to be completed by fiscal year 2023, providing a much-needed living solution for those in need.
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Impact
July, 2024
Cornerstone Housing For Adults With Disabilities is making a significant impact by providing adult living opportunities for individuals with intellectual and developmental disabilities in the greater Los Angeles community. By developing subsidized housing for those with limited financial resources who depend on public and charitable assistance, the organization is addressing a vital need within the community. The construction project initiated in fiscal year 2021 to transform the acquired land and building into a supportive living community is a concrete step towards fulfilling their mission. By focusing on creating a safe and supportive living environment for adults with disabilities, Cornerstone Housing is working towards enhancing the quality of life and autonomy of individuals who may face additional challenges in accessing suitable housing options.
This information is meant to be a general summary of Cornerstone Housing For Adults With Disabilities. 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: -$725,209
- Gross Receipts: $12,241,101
Assets and Liabilities:
- Total Assets: $32,943,869
- Total Liabilities: $9,836,426
- Net Assets: $23,107,443
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Organization Details
Founding Year
2019
Phone
(562) 257-1010Principal Officer
Dr Michael Held
Main Address
13034 SATICOY ST, NORTH HOLLYWOOD, CA, 91605
NTEE Category
Code: L20 - Housing
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