Cornerstone Inc
- Assets
- $0.0
- Revenue
- $26.9k
- Investments
- $0.0
- Employees
- 2
- Location
- Bethesda, MD
- Founding
- Data as of
- 12/2016
- EIN
- 52-1772313
Organization Overview
Cornerstone Inc is located in Bethesda, MD. As of 12/2016, Cornerstone Inc employed 2 individuals. Cornerstone 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 12/2016, Cornerstone Inc generated $26.9k in total revenue. All expenses for the organization totaled $5.9m during the year ending 12/2016.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2016
Describe the Organization's Mission:
Part 3 - Line 1
CORNERSTONE FINANCED SUPPORTIVE HOUSING FOR PEOPLE WITH MENTAL ILLNESS IN THE DISTRICT OF COLUMBIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CORNERSTONE FINANCED QUALITY, AFFORDABLE HOUSING IN THE DISTRICT OF COLUMBIA FOR PEOPLE WHO HAVE A SERIOUS AND PERSISTENT MENTAL ILLNESS. CORNERSTONE'S MISSION WAS TO FOCUS ON THE HOUSING NEEDS OF VERY LOW INCOME INDIVIDUALS WITH MENTAL ILLNESS AND OTHER SPECIAL NEEDS. OUR STRATEGIES EVOLVED TO RESPOND TO MARKET CONDITIONS AND TO THE AVAILABILITY AND RESTRICTIONS ON CAPITAL FUNDING. CORNERSTONE HISTORICALLY HAD RECEIVED GRANTS WITH A PROGRAM REQUIREMENT OF GRANT DISTRIBUTION OVER ONE OR MORE SUBSEQUENT YEARS. THESE RESTRICTED GRANTS WERE ALL DEDICATED TO PEOPLE IN THE DISTRICT OF COLUMBIA WITH SERIOUS MENTAL ILLNESS IN SUPPORTED HOUSING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nancy H Liebermann President | OfficerTrustee | 40 | $230,100 |
Elen B Ward Prgm Mgr/asst. Secretary | Officer | 40 | $107,690 |
Keven Vance Chair | OfficerTrustee | 3 | $0 |
Olive Idehen Vice Chair | OfficerTrustee | 1 | $0 |
Natalie Greene Vice Chair | OfficerTrustee | 1 | $0 |
Neil Albert Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,465 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,465 |
| Total Program Service Revenue | $16,372 |
| Investment income | $4,303 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $767 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $26,907 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $389,429 |
| Grants and other assistance to domestic individuals. | $86,147 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $394,222 |
| Compensation of current officers, directors, key employees. | $39,422 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $19,371 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $239 |
| Fees for services: Accounting | $64,207 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,946 |
| Advertising and promotion | $0 |
| Office expenses | $11,002 |
| Information technology | $285 |
| Royalties | $0 |
| Occupancy | $16,653 |
| Travel | $61 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $899 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $7,691 |
| All other expenses | $0 |
| Total functional expenses | $5,915,010 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $0 |
Grants Awarded
Over the last fiscal year, Cornerstone Inc has awarded $341,457 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
Arlington, VA PURPOSE: PROVIDE SPECIAL NEEDS HOUSING | $123,353 |
Washington, DC PURPOSE: PROVIDE SPECIAL NEEDS HOUSING | $79,910 |
Lanham, MD PURPOSE: PROVIDE SPECIAL NEEDS HOUSING | $48,431 |
Ft Washington, MD PURPOSE: PROVIDE SPECIAL NEEDS HOUSING | $30,000 |
Washington, DC PURPOSE: PROVIDE SPECIAL NEEDS HOUSING | $29,395 |
Washington, DC PURPOSE: PROVIDE SPECIAL NEEDS HOUSING | $18,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Frontline Community Services Inc Beltsville, MD | $6,957,560 | $20,985,182 |
Long Island Select Healthcare Inc Central Islip, NY | $8,265,975 | $21,062,448 |
The Heights Inc Potomac, MD | $28,496,015 | $21,762,530 |
Germantown Home Philadelphia, PA | $23,238,200 | $17,117,508 |
Center For Global Development Washington, DC | $65,777,264 | $14,319,773 |
Results For America Washington, DC | $34,611,584 | $37,342,488 |
Partnership To End Addiction New York, NY | $61,675,636 | $16,194,669 |
Humanim Inc Columbia, MD | $20,769,725 | $20,890,295 |
Camber Foundation Durham, NC | $143,536,160 | $30,406,277 |
New Foundations Charter School Marlton, NJ | $17,967,778 | $23,202,828 |
Chandler Hall Health Services Inc Newtown, PA | $26,412,529 | $17,505,940 |
Senior Total Life Care Gastonia, NC | $7,534,285 | $22,491,131 |