Metropolitan Affordable Housing Corporation
- Assets
- $25.6m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 16
- Location
- Eugene, OR
- Founding
- 09/1992
- Data as of
- 12/2021
- EIN
- 93-1078543
Organization Overview
Metropolitan Affordable Housing Corporation, operating under the name Cornerstone Community Housing, is located in Eugene, OR. The organization was established in 1992. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. As of 12/2021, Cornerstone Community Housing employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cornerstone Community Housing 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 Community Housing generated $2.7m 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 (3.2%) each year. All expenses for the organization totaled $1.9m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.3%) 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE QUALITY, AFFORDABLE HOUSING FOR PEOPLE LIVING ON LIMITED INCOMES, AND OFFER SERVICES THAT PROMOTE OPPORTUNITIES FOR PERSONAL GROWTH AND ECONOMIC INDEPENDENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
METROPOLITAN AFFORDABLE HOUSING CORPORATION D.B.A. CORNERSTONE COMMUNITY HOUSING (CCH) PROVIDES SAFE, QUALITY, AFFORDABLE HOUSING AND TO SUPPORT LOW INCOME FAMILIES WHO LIVE IN AFFORDABLE HOUSING WE DEVELOPED A PROGRAM WE CALL HEALTHY HOMES. OUR MISSION IS TO BUILD QUALITY AFFORDABLE HOUSING AND PROVIDE SERVICES THAT PROMOTE PERSONAL GROWTH AND ECONOMIC INDEPENDENCE AND CCH IS UNIQUELY POSITIONED TO HAVE A SIGNIFICANT IMPACT ON LOW INCOME HOUSEHOLDS BECAUSE WE DELIVER SERVICES AT THE FRONT DOORS OF THE CLIENTS WE SERVE. WE KNOW THAT A QUALITY, DIGNIFIED, AFFORDABLE PLACE TO CALL HOME IS MORE THAN JUST A BASIC NEED AND HOUSING IS A CRITICAL COMPONENT NECESSARY FOR PROVIDING PATHWAYS OUT OF POVERTY.
CCH WORKS TO PREVENT HOMELESSNESS BEFORE IT BEGINS AND CREATES A SAFETY NET THAT BUILDS HOUSEHOLD RESILIENCY AND KEEPS HARD WORKING FAMILIES FROM FALLING THROUGH THE CRACKS. WE CURRENTLY DELIVER SERVICES TO 1,161 HOUSEHOLDS (2,902 PEOPLE) AT 19 SITES IN OREGON. WE TRACK AN ESTIMATED 20,000 VISITS ANNUALLY TO PROGRAMS AND DISTRIBUTE 44,000+ POUNDS OF FOOD TO VULNERABLE HOUSEHOLDS EACH YEAR. THIS INCLUDES A DIVERSE POPULATION OF SINGLE PARENTS WITH CHILDREN, FAMILIES AND INDIVIDUALS, SENIORS, VETERANS, VICTIMS OF DOMESTIC VIOLENCE, INDIVIDUALS COMPLETING DRUG AND ALCOHOL RECOVERY, AND FORMERLY HOMELESS. HOUSEHOLDS ARE LARGELY DIVERSE COMMUNITIES THAT INCLUDE AFRICAN AMERICAN, HISPANIC, NATIVE AMERICAN, ASIAN, OR MULTI- RACIAL BACKGROUNDS. MANY QUALIFY FOR PROGRAMS LIKE TANF, WIC, HEALTHY KIDS AND FREE LUNCH PROGRAMS.
EXPENSES RELATED TO PRE-DEVELOPMENT OF NEW PROPERTIES, AS WELL AS MAINTENANCE/REPAIRS ON EXISTING PROPERTIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Darcy Phillips Executive Di | Officer | 40 | $110,865 |
Michelle Cady Operations D | Officer | 40 | $82,035 |
Vicki Gray President | OfficerTrustee | 2 | $0 |
Rick Larson Vice Preside | OfficerTrustee | 2 | $0 |
B Dean Huber Treasurer | OfficerTrustee | 2 | $0 |
Amber Alexander Secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $71,580 |
| Related organizations | $0 |
| Government grants | $404,345 |
| All other contributions, gifts, grants, and similar amounts not included above | $678,039 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,153,964 |
| Total Program Service Revenue | $1,658,982 |
| Investment income | $5,174 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$124,378 |
| Net Income from Fundraising Events | -$10,056 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,734,673 |
| 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. | $198,995 |
| Compensation of current officers, directors, key employees. | $73,931 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $495,642 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $66,804 |
| Payroll taxes | $69,354 |
| Fees for services: Management | $70,445 |
| Fees for services: Legal | $11,892 |
| Fees for services: Accounting | $25,797 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,517 |
| Office expenses | $89,044 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $129,862 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $102,474 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $265,981 |
| Insurance | $31,698 |
| All other expenses | $14,708 |
| Total functional expenses | $1,870,852 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,408,086 |
| Savings and temporary cash investments | $3,434,912 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $96,930 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $11,618,388 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $25,468 |
| Net Land, buildings, and equipment | $5,848,979 |
| Investments—publicly traded securities | $11,648 |
| Investments—other securities | $0 |
| Investments—program-related | $3,147,351 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $25,591,762 |
| Accounts payable and accrued expenses | $269,341 |
| 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 | $2,148,966 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $697,867 |
| Total liabilities | $3,116,174 |
| Net assets without donor restrictions | $15,762,118 |
| Net assets with donor restrictions | $6,713,470 |
| 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 | $25,591,762 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Metropolitan Affordable Housing Corporation has recieved totaling $80,000.
| Awarding Organization | Amount |
|---|---|
Oregon Community Foundation Portland, OR PURPOSE: Human Services | $75,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Oak Grove Institute Foundation Inc Murrieta, CA | $29,102,821 | $23,083,215 |
Taco Bell Foundation Inc Irvine, CA | $32,895,109 | $23,910,509 |
Albina Head Start Inc Portland, OR | $22,611,624 | $19,457,720 |
Orbis Cascade Alliance Portland, OR | $8,013,554 | $17,694,791 |
Independent Order Of Odd Fellows Walla Walla, WA | $17,889,942 | $20,108,315 |
Albert Einstein Academies San Diego, CA | $21,189,771 | $17,379,077 |
Prospect Sierra School El Cerrito, CA | $31,201,283 | $16,565,547 |
Options Counseling Services Of Oregon Eugene, OR | $12,586,092 | $15,957,358 |
Transitions - Mental Health Association San Luis Obispo, CA | $15,943,493 | $14,891,475 |
International Myeloma Foundation Studio City, CA | $20,383,236 | $17,434,390 |
Open Networking Foundation Palo Alto, CA | $9,261,912 | $16,468,416 |
Sonoma Valley Community Health Center Sonoma, CA | $15,645,180 | $13,937,473 |