Cornerstone Rescue Mission
- Assets
- $9.5m
- Revenue
- $5.3m
- Investments
- $0.0
- Employees
- 116
- Location
- Rapid City, SD
- Founding
- 03/1989
- Data as of
- 12/2023
- EIN
- 36-3296431
Organization Overview
Cornerstone Rescue Mission is located in Rapid City, SD. The organization was established in 1989. According to its NTEE Classification (P28) the organization is classified as: Neighborhood Centers, under the broad grouping of Human Services and related organizations. As of 12/2023, Cornerstone Rescue Mission employed 116 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cornerstone Rescue Mission 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 12/2023, Cornerstone Rescue Mission generated $5.3m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $5.5m during the year ending 12/2023. While expenses have increased by 4.5% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE SHELTER, FOOD, CLOTHING, GOSPEL, SOCIAL SERVICE REFERRALS, AND ASSISTANCE TO THE HOMELESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION SERVED APPROXIMATELY 135,220 MEALS AVERAGING 370 MEALS PER DAY AND 29,350 NIGHTS OF LODGING AVERAGING 80 PEOPLE PER NIGHT. THE CORNERSTONE MISSION PROVIDED CLOTHING AND HOUSE WARES TO OVER 240 CLIENTS AS WELL AS OTHER TYPES OF BENEVOLENT ASSISTANCE. THE ORGANIZATION ALSO HELPED PROVIDE 216 CLIENTS WITH PERMANENT HOUSING.COMMUNITY TRANSITION PROGRAM (CTP) IS A PRISON RE-ENTRY PROGRAM DESIGNED TO HELP PAROLEES REINTEGRATE INTO SOCIETY. SERVICES PROVIDED INCLUDE CASE MANAGEMENT, SHELTER, FOOD, TRANSPORTATION, EMPLOYMENT SEARCH ASSISTANCE AND HOUSING SEARCH ASSISTANCE. THE CTP PROGRAM PROVIDED 14,335 NIGHTS OF LODGING AVERAGING 39 PEOPLE PER NIGHT.
THE THRIFT STORE SELLS ITEMS THAT HAVE BEEN DONATED, SUCH AS CLOTHING, FURNITURE, HOUSEHOLD GOODS, ETC. AT ECONOMICAL PRICES TO THE PUBLIC. THE PROFITS FROM THE THRIFT STORE SUPPORT THE CORNERSTONE WOMEN & CHILDREN'S HOME.IN ADDITION, A VOUCHER PROCESS ALLOWS CLIENTS TO OBTAIN ITEMS AT THE STORE TO SUPPORT SUSTAINABILITY FOR THEIR HOUSING AND EMPLOYMENT. IT ALSO SERVES AS A SITE FOR PEOPLE FROM THE COMMUNITY WHO CHOOSE TO VOLUNTEER OR ARE ASSIGNED COMMUNITY SERVICE HOURS.
EFFECTIVE 11/30/23 THE ORGANZIATION TOOK OVER THE CORNERSTONE APARTMENTS, WHICH CONSIST OF 24 TWO AND THREE BEDROOM UNITS PROVIDING AFFORDABLE HOUSING TO ELIGIBLE LOW-INCOME FAMILIES, VETERANS, OR DISABLED PEOPLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lysa Allison Executive Director | OfficerTrustee | 40 | $90,746 |
Dr Mark Harlow President | OfficerTrustee | 1 | $0 |
Dr Josh Biberdorf Vice President - Left 6/2023 | OfficerTrustee | 1 | $0 |
Francis Kaufman Director/vice President | OfficerTrustee | 1 | $0 |
Dick Mcconnell Secretary | OfficerTrustee | 1 | $0 |
Esther Newbrough Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $24,760 |
| Related organizations | $0 |
| Government grants | $2,525,431 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,534,928 |
| Noncash contributions included in lines 1a–1f | $1,380,658 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,085,119 |
| Total Program Service Revenue | $111,476 |
| Investment income | $35,517 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $32,541 |
| Net Gain/Loss on Asset Sales | $4,095 |
| Net Income from Fundraising Events | -$1,417 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $57,486 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,324,817 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $709,733 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $101,673 |
| Compensation of current officers, directors, key employees. | $3,050 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,406,321 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $156,091 |
| Payroll taxes | $222,983 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $206,317 |
| Advertising and promotion | $28,381 |
| Office expenses | $137,132 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $237,306 |
| Travel | $55,367 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $18,450 |
| Interest | $327 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $406,114 |
| Insurance | $104,971 |
| All other expenses | $26,108 |
| Total functional expenses | $5,513,481 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,322,733 |
| Pledges and grants receivable | $121,146 |
| Accounts receivable, net | $2,299 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $48,281 |
| Prepaid expenses and deferred charges | $32,199 |
| Net Land, buildings, and equipment | $6,782,453 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $194,932 |
| Total assets | $9,504,043 |
| Accounts payable and accrued expenses | $216,634 |
| Grants payable | $0 |
| Deferred revenue | $2,660 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $242,474 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $229,460 |
| Total liabilities | $691,228 |
| Net assets without donor restrictions | $8,778,686 |
| Net assets with donor restrictions | $34,129 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $9,504,043 |