Family Cornerstone Foundation
- Assets
- $382.9k
- Revenue
- $26.4k
- Investments
- $0.0
- Employees
- 0
- Location
- West Chester, PA
- Founding
- 03/2015
- Data as of
- 12/2021
- EIN
- 47-1577180
Organization Overview
Family Cornerstone Foundation is located in West Chester, PA. The organization was established in 2015. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Family Cornerstone Foundation 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, Family Cornerstone Foundation generated $26.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (36.1%) each year. All expenses for the organization totaled $32.4k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (31.6%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Matthews President | 0 | $0 | |
Jason Matthews Treasurer | 0 | $0 | |
Jennifer Wenger Secretary | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $10,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | -$16,040 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $26,350 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $7,124 |
| Taxes | $0 |
| Depreciation | $14,726 |
| Occupancy | $7,168 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,572 |
| Total operating and administrative expenses | $32,390 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $32,390 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,794 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $377,136 |
| Other assets | $0 |
| Total assets | $382,930 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $267,405 |
| Total liabilities | $267,405 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Family Cornerstone Foundation has recieved totaling $64,800.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: HEALTH & HUMAN SERVICES | $64,800 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Providence Housing Development Corporation Rochester, NY | $12,131,024 | $9,484,321 |
Equinox Inc Albany, NY | $7,754,124 | $11,254,428 |
Daughter Of Miriam Association Clifton, NJ | $0 | $8,577,466 |
Rochester Management Inc Rochester, NY | $15,106,778 | $10,149,651 |
Project Plase Inc Baltimore, MD | $6,563,951 | $8,999,720 |
Jerome Avenue Care For The Homeless New York, NY | $8,771,577 | $9,215,112 |
Fox Lake Ahf Inc Newark, NJ | $17,499,126 | $5,986,974 |
Over The Rhine Community Housing Cincinnati, OH | $24,358,276 | $7,722,304 |
Oub Court Housing Company Inc Bronx, NY | $15,971,755 | $7,036,525 |
Southeast Grand St Guild Hdf Co Inc Residential Management Assoc Inc Garden City, NY | $32,454,650 | $10,208,365 |
Norris Square Community Alliance Philadelphia, PA | $13,759,138 | $8,779,038 |
Hebrew Home Housing Development Fund Co Inc Bronx, NY | $13,025,058 | $6,258,776 |