Christian Home For The Aged Inc
- Assets
- $0.0
- Revenue
- $7.4m
- Investments
- $0.0
- Employees
- 243
- Location
- Johnson City, TN
- Founding
- 11/1976
- Data as of
- 03/2022
- EIN
- 62-0699106
Organization Overview
Christian Home For The Aged Inc, operating under the name Cornerstone Village, is located in Johnson City, TN. The organization was established in 1976. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 03/2022, Cornerstone Village employed 243 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cornerstone Village 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 03/2022, Cornerstone Village generated $7.4m 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 (10.7%) each year. All expenses for the organization totaled $3.8m during the year ending 03/2022. As we would expect to see with falling revenues, expenses have declined by (19.6%) per year over the past 7 years. 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
HELPING WITH THE CHALLENGES OF AGING BY PROVIDING QUALITY HOUSING, HEALTHCARE, AND SEVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHRISTIAN HOME FOR THE AGED, INC. D/B/A CORNERSTONE VILLAGE (CORNERSTONE) IS A NOT-FOR-PROFIT CORPORATION, ESTABLISHED BY CHRISTIAN CHURCHES TO PROVIDE HOUSING, HEALTH CARE AND OTHER RELATED SERVICES TO THE RETIRED AND AGED IN JOHNSON CITY, TENNESSEE AND NEIGHBORING COMMUNITIES. CORNERSTONE AND ITS RELATED ENTITIES OPERATE A CONTINUING CARE RETIREMENT COMMUNITY AND AN ASSISTED LIVING COMMUNITY. THE RELATED ENTITIES ARE LIBERTY HOUSING CORPORATION (THE CORPORATION) AND THE APPALACHIAN CHRISTIAN VILLAGE FOUNDATION, INC. (THE FOUNDATION).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Measner Vice President | OfficerTrustee | 0 | $0 |
Beth Bartchy-Smith President | OfficerTrustee | 0 | $0 |
Dr Mark Matson Treasurer | OfficerTrustee | 0 | $0 |
Dr Eddie Fine Secretary | OfficerTrustee | 0 | $0 |
Doug Sams Trustee | Trustee | 0 | $0 |
Bruce Large Trustee | Trustee | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Performance Food Services - North Food Services | 3/30/22 | $338,976 |
Pharmacy Network Services Pharmacy Services | 3/30/22 | $112,003 |
Broad River Rehabilitation Llc Therapy Services | 3/30/22 | $471,258 |
Care Centers Management Consulting Management Services | 3/30/22 | $1,536,652 |
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 | $89,276 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $89,276 |
| Total Program Service Revenue | $3,254,856 |
| Investment income | $68 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,856,154 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,353,319 |
| 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 | $1,035,409 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $168,585 |
| Payroll taxes | $101,648 |
| Fees for services: Management | $92,120 |
| Fees for services: Legal | $10,977 |
| Fees for services: Accounting | $12,217 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $14,366 |
| Fees for services: Other | $203,026 |
| Advertising and promotion | $6,330 |
| Office expenses | $0 |
| Information technology | $24,353 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,263 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $176,504 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $326,144 |
| Insurance | $64,667 |
| All other expenses | $403,669 |
| Total functional expenses | $3,777,370 |
| 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 |
| Net assets without donor restrictions | $0 |
| 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 | $0 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Christian Home For The Aged Inc has recieved totaling $21,250.
| Awarding Organization | Amount |
|---|---|
Servant Foundation Overland Park, KS PURPOSE: COMMUNITY DEVELOPMENT | $10,000 |
Servant Foundation Overland Park, KS PURPOSE: COMMUNITY DEVELOPMENT | $10,000 |
Ge Foundation Norwalk, CT PURPOSE: MATCHING GIFTS | $1,250 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Masonic Home Independent Living Ii Inc Masonic Home, KY | $142,516,912 | $16,410,935 |
The Glebe Inc Glen Allen, VA | $79,347,451 | $20,057,701 |
Cypress Of Charlotte Club Inc Charlotte, NC | $4,602,507 | $19,033,502 |
Lavender Mountain Senior Living Inc Mount Berry, GA | $141,195,331 | $5,176,789 |
Lewis Memorial Christian Village St Louis, MO | $48,381,888 | $18,539,239 |
Alliance Foundation Of Florida Inc Fairfax, VA | $3,980,019 | $2,209,632 |
Skidaway Health And Living Services Inc Savannah, GA | $89,340,251 | $17,567,308 |
Lake Prince Center Inc Newton, NC | $22,105,583 | $13,762,352 |
Bethesda Senior Living Inc St Louis, MO | $51,618,462 | $21,887,696 |
St George Village-Catholic Community Retirement Center Roswell, GA | $71,436,640 | $13,654,810 |
Wesley Homes Inc Atlanta, GA | $20,385,914 | $13,715,520 |
Ascension Living St Josephs Place St Louis, MO | $4,321,699 | $10,048,522 |