Metropolitan Affordable Housing Corporation

Organization Overview

Metropolitan Affordable Housing Corporation, operating under the name Cornerstone Community Housing, is located in Eugene, OR. The organization was established in 1992. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. As of 12/2021, Cornerstone Community Housing employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cornerstone Community Housing is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 12/2021, Cornerstone Community Housing generated $2.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.2%) each year. All expenses for the organization totaled $1.9m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.3%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

PROVIDE QUALITY, AFFORDABLE HOUSING FOR PEOPLE LIVING ON LIMITED INCOMES, AND OFFER SERVICES THAT PROMOTE OPPORTUNITIES FOR PERSONAL GROWTH AND ECONOMIC INDEPENDENCE.

Describe the Organization's Program Activity:

Part 3 - Line 4a

METROPOLITAN AFFORDABLE HOUSING CORPORATION D.B.A. CORNERSTONE COMMUNITY HOUSING (CCH) PROVIDES SAFE, QUALITY, AFFORDABLE HOUSING AND TO SUPPORT LOW INCOME FAMILIES WHO LIVE IN AFFORDABLE HOUSING WE DEVELOPED A PROGRAM WE CALL HEALTHY HOMES. OUR MISSION IS TO BUILD QUALITY AFFORDABLE HOUSING AND PROVIDE SERVICES THAT PROMOTE PERSONAL GROWTH AND ECONOMIC INDEPENDENCE AND CCH IS UNIQUELY POSITIONED TO HAVE A SIGNIFICANT IMPACT ON LOW INCOME HOUSEHOLDS BECAUSE WE DELIVER SERVICES AT THE FRONT DOORS OF THE CLIENTS WE SERVE. WE KNOW THAT A QUALITY, DIGNIFIED, AFFORDABLE PLACE TO CALL HOME IS MORE THAN JUST A BASIC NEED AND HOUSING IS A CRITICAL COMPONENT NECESSARY FOR PROVIDING PATHWAYS OUT OF POVERTY.


CCH WORKS TO PREVENT HOMELESSNESS BEFORE IT BEGINS AND CREATES A SAFETY NET THAT BUILDS HOUSEHOLD RESILIENCY AND KEEPS HARD WORKING FAMILIES FROM FALLING THROUGH THE CRACKS. WE CURRENTLY DELIVER SERVICES TO 1,161 HOUSEHOLDS (2,902 PEOPLE) AT 19 SITES IN OREGON. WE TRACK AN ESTIMATED 20,000 VISITS ANNUALLY TO PROGRAMS AND DISTRIBUTE 44,000+ POUNDS OF FOOD TO VULNERABLE HOUSEHOLDS EACH YEAR. THIS INCLUDES A DIVERSE POPULATION OF SINGLE PARENTS WITH CHILDREN, FAMILIES AND INDIVIDUALS, SENIORS, VETERANS, VICTIMS OF DOMESTIC VIOLENCE, INDIVIDUALS COMPLETING DRUG AND ALCOHOL RECOVERY, AND FORMERLY HOMELESS. HOUSEHOLDS ARE LARGELY DIVERSE COMMUNITIES THAT INCLUDE AFRICAN AMERICAN, HISPANIC, NATIVE AMERICAN, ASIAN, OR MULTI- RACIAL BACKGROUNDS. MANY QUALIFY FOR PROGRAMS LIKE TANF, WIC, HEALTHY KIDS AND FREE LUNCH PROGRAMS.


EXPENSES RELATED TO PRE-DEVELOPMENT OF NEW PROPERTIES, AS WELL AS MAINTENANCE/REPAIRS ON EXISTING PROPERTIES.


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Board, Officers & Key Employees

Name (title)Compensation
Darcy Phillips
Executive Di
$110,865
Michelle Cady
Operations D
$82,035
Vicki Gray
President
$0
Rick Larson
Vice Preside
$0
B Dean Huber
Treasurer
$0
Amber Alexander
Secretary
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$71,580
Related organizations$0
Government grants $404,345
All other contributions, gifts, grants, and similar amounts not included above$678,039
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$1,153,964
Total Program Service Revenue$1,658,982
Investment income $5,174
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$124,378
Net Income from Fundraising Events -$10,056
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $2,734,673

Grants Recieved

Over the last fiscal year, we have identified 2 grants that Metropolitan Affordable Housing Corporation has recieved totaling $80,000.

Awarding OrganizationAmount
Oregon Community Foundation

Portland, OR

PURPOSE: Human Services

$75,000
Bank Of America Charitable Foundation Inc

Charlotte, NC

PURPOSE: OPERATIONAL SUPPORT

$5,000
View Grant Recipient Profile

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