Cornerstone Assistance Network Inc
- Assets
- $6.5m
- Revenue
- $6.9m
- Investments
- $125.7k
- Employees
- 42
- Location
- Fort Worth, TX
- Founding
- 10/1992
- Data as of
- 12/2021
- EIN
- 75-2417646
Organization Overview
Cornerstone Assistance Network Inc is located in Fort Worth, TX. The organization was established in 1992. According to its NTEE Classification (P60) the organization is classified as: Emergency Assistance, under the broad grouping of Human Services and related organizations. As of 12/2021, Cornerstone Assistance Network Inc employed 42 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cornerstone Assistance Network 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 12/2021, Cornerstone Assistance Network Inc generated $6.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.4% each year . All expenses for the organization totaled $6.5m during the year ending 12/2021. While expenses have increased by 10.8% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION ASSISTS HOMELESS INDIVIDUALS, SINGLE PARENTS AND LOW INCOME FAMILIES IN OBTAINING FOOD, SHELTER, CLOTHING, EMPLOYMENT CHILDCARE, TRANSPORTATION AND FINANCIAL AND MEDICAL ASSISTANCE
Describe the Organization's Program Activity:
Part 3 - Line 4a
EMERGENCY FIN SRVCS, CCB,& CCC: OUTREACH TO HOMELESS PEOPLE TO ENGAGE THEM INTO A STRATEGY TO ACCESS SERVICES AVAILABLE TO THEM
COMM SRVCS, THRIFT STORE,RE-ENTRY SRVCS, WORKFORCE DEV., INTERMED SRVCS, MEDICAL CLINIC, VISTA, CAN VISTA, RSVP: DIRECT ACCESS TO SERVICES AND RESOURCES TO PEOPLE IN THEIR TARRANT COUNTY AREA
SPANISH GARDENS &PERMANENT HOUSING:PROVIDE DWELLINGS FOR LOW INCOME AND HOMELESS PEOPLE ACCOMPANIED BY SUPPORT SERVICES NECESSARY TO ACHIEVE SELF-SUFFICIENCY
ALL OTHER ACCOMPLISHMENT , PROVIDED FOOD , CLOTHING, HOUSEHOLD ITEMS, JOB TRAINING, AFTER SCHOOL CARE, MEDICAL CLINICS, COMMUNITY MEETING YOUTH ACTIVITIES, COMPUTER LABS , TRAINING, ESL,GED HOUSING, CASE MANAGEMENT, RENT AMD UTILITY ASSISTANCE, EMERGENCY ASSISTANCE, REFERRAL SERVICES, TRANSPORTATION AND RELATED SERVICES TO LOW INCOME & HOMELESS INDIVIDUALS. ALSO PROVIDED FURNITURE, APPLIANCES, HOUSEHOLD ITEMS AND TECHNICAL ASSISTANCE TO ORGANIZATIONS SERVING NEEDY, LOW INCOME AND HOMELESS PEOPLE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Doyle Exec Director | OfficerTrustee | 40 | $126,575 |
Mark Barfield Board Member | Trustee | 0 | $0 |
Becky Biser Vice Chair-Bd Of Dir | Trustee | 1 | $0 |
Michael T Cooke Chairman Bd Of Dir | Trustee | 1 | $0 |
Max Falls Board Member | Trustee | 0 | $0 |
David Haefeli Board Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $996,858 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,233,277 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,230,135 |
| Total Program Service Revenue | $293,345 |
| Investment income | $10,843 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $66,436 |
| Net Gain/Loss on Asset Sales | -$19,374 |
| Net Income from Fundraising Events | $106,517 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,928,385 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,177,903 |
| 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. | $126,575 |
| Compensation of current officers, directors, key employees. | $15,189 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,549,253 |
| Pension plan accruals and contributions | $69,956 |
| Other employee benefits | $129,509 |
| Payroll taxes | $127,374 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $47,097 |
| Advertising and promotion | $995 |
| Office expenses | $262,864 |
| Information technology | $121,776 |
| Royalties | $0 |
| Occupancy | $86,180 |
| Travel | $22,680 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,137 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $290,231 |
| Insurance | $41,129 |
| All other expenses | $266,404 |
| Total functional expenses | $6,462,351 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,833,030 |
| Savings and temporary cash investments | $360,009 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,029,945 |
| 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 | $2,200 |
| Net Land, buildings, and equipment | $2,963,481 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $125,719 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $159,104 |
| Total assets | $6,473,488 |
| Accounts payable and accrued expenses | $46,741 |
| 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 | $46,741 |
| Net assets without donor restrictions | $5,261,690 |
| Net assets with donor restrictions | $1,165,057 |
| 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 | $6,473,488 |
Grants Recieved
Over the last fiscal year, we have identified 23 grants that Cornerstone Assistance Network Inc has recieved totaling $2,135,402.
| Awarding Organization | Amount |
|---|---|
Rainwater Charitable Foundation Fort Worth, TX PURPOSE: THE FAMILY SERVICES PROGRAM | $371,453 |
Good Start Foundation Plano, TX PURPOSE: 2021 DENTAL CLINIC OPERATIONS SUPPORT. | $309,892 |
Rainwater Charitable Foundation Fort Worth, TX PURPOSE: FWCP PROJECT SUPPORT | $283,800 |
Rainwater Charitable Foundation Fort Worth, TX PURPOSE: SUPPORT OF THE LEADERSHIP ACADEMY NETWORK | $260,200 |
Ardon And Iris Moore Foundation Fort Worth, TX PURPOSE: GENERAL PURPOSES | $250,000 |
Rainwater Charitable Foundation Fort Worth, TX PURPOSE: GENERAL OPERATIONS AND PROJECT SUPPORT | $145,200 |
Endowment Analysis
| Beg. Balance | $321,658 |
| Earnings | $10,343 |
| Ending Balance | $332,001 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Arvac Inc Dardanelle, AR | $9,742,148 | $20,926,071 |
Galveston County Food Bank Texas City, TX | $6,843,848 | $17,758,776 |
Caritas Of Waco Waco, TX | $6,458,652 | $16,290,870 |
Metrocrest Services Farmers Branch, TX | $16,311,455 | $22,147,837 |
Memorial Assistance Ministries Inc Houston, TX | $12,620,656 | $8,704,582 |
Healthcare For The Homeless-Houston Houston, TX | $9,738,330 | $7,057,693 |
Cornerstone Assistance Network Inc Fort Worth, TX | $6,473,488 | $6,928,385 |
Goodness Outreach Depot Haslet, TX | $63,576 | $5,040,175 |
Reach Out America Intnl Inc League City, TX | $82,428 | $5,177,951 |
Humble Area Assistance Ministries Humble, TX | $3,384,410 | $5,119,606 |
Second Mile Misson Center Missouri City, TX | $4,251,763 | $6,186,736 |
Twin City Mission Bryan, TX | $7,381,064 | $5,288,388 |