Cornerstone Housing North Inc
- Assets
- $2.1m
- Revenue
- $135.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Berlin, NH
- Founding
- 03/2006
- Data as of
- 06/2022
- EIN
- 51-0538131
Organization Overview
Cornerstone Housing North Inc is located in Berlin, NH. The organization was established in 2006. 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. Cornerstone Housing North Inc 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 06/2022, Cornerstone Housing North Inc generated $135.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $248.7k during the year ending 06/2022. While expenses have increased by 5.5% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AFFORDABLE, SUPPORTIVE HOUSING FOR VERY-LOW AND LOW INCOME ELDERLY PEOPLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE AFFORDABLE AND SUPPORTIVE HOUSING FOR THE VERY-LOW AND LOW INCOME ELDERLY PEOPLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sandy Alonzo Chair | OfficerTrustee | 2 | $0 |
Anne Barber Vice Chair | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $86,177 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,324 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $87,501 |
| Total Program Service Revenue | $48,007 |
| Investment income | $46 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $135,554 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,875 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $435 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $26,303 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $67,389 |
| Insurance | $3,250 |
| All other expenses | $125 |
| Total functional expenses | $248,736 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $36,525 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $24,930 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,813,177 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $215,555 |
| Total assets | $2,090,187 |
| Accounts payable and accrued expenses | $62,159 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $1,867,600 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,390 |
| Total liabilities | $1,934,149 |
| Net assets without donor restrictions | $156,038 |
| Net assets with donor restrictions | $0 |
| 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 | $2,090,187 |
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| Organization Name | Assets | Revenue |
|---|---|---|
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Harbor Homes Inc Nashua, NH | $29,802,318 | $34,009,669 |
Coastal Enterprises Inc Brunswick, ME | $100,877,671 | $43,453,136 |
New Communities Inc Westbrook, ME | $21,168,953 | $23,774,102 |
Cambridge Affordable Housing Corporation Cambridge, MA | $128,682,054 | $13,147,216 |
Avesta Housing Development Corporation Portland, ME | $69,411,595 | $13,114,873 |
Fit-Nhnh Inc Manchester, NH | $20,051,648 | $10,413,245 |
Cambridge Community Housing Development Inc Cambridge, MA | $56,982,552 | $7,704,327 |
Evernorth Burlington, VT | $26,020,823 | $8,207,006 |
Mishawum Park Tenants Association Inc Braintree, MA | $36,767,027 | $4,697,884 |
The Housing Foundation Incorporated Montpelier, VT | $36,391,565 | $7,466,947 |
2life Partners Inc Brighton, MA | $42,841,795 | $8,582,335 |