Cornerstone Residential Center No 4 Nfp

Organization Overview

Cornerstone Residential Center No 4 Nfp is located in Joliet, IL. The organization was established in 2008. 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 Residential Center No 4 Nfp 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 Residential Center No 4 Nfp generated -$20.3k 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 (3.8%) each year.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE ORGANIZATION WAS INCORPORATED FOR THE SOLE PURPOSE OF ACQUIRING AND OPERATING A FEDERALLY SUBSIDIZED DEVELOPMENT IN JOLIET, ILLINOIS WHOSE TENANTS ARE ELIGIBLE, LOW INCOME PERSONS WITH DISABILITIES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE ORGANIZATION HAS SUCCESSFULLY BUILT A RESIDENCE IN JOLIET, ILLINOIS FOR THE PURPOSE OF HOUSING ELIGIBLE, LOW INCOME PERSONS WITH DISABILITIES.


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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$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$0
Investment income $10
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income -$20,298
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 -$20,288

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