Cornerstone Renter Equity Inc

Organization Overview

Cornerstone Renter Equity Inc is located in Cincinnati, OH. The organization was established in 1986. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Cornerstone Renter Equity Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cornerstone Renter Equity 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 Renter Equity Inc generated $1.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $864.5k during the year ending 12/2021. While expenses have increased by 11.8% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

CORNERSTONE MANAGES RENTER EQUITY (SM) HOUSING FOR LOW-INCOME HOUSEHOLDS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

AFFORDABLE HOUSING: CSRE OWNS AND MANAGES 25 UNITS OF AFFORDABLE HOUSING. ADDITIONALLY, CSRE PARTNERS WITH PRESERVATION OF AFFORDABLE HOUSING (POAH) ON ANOTHER 50 UNITS LOCATED IN THE OVER THE RHINE COMMUNITY OF CINCINNATI, OHIO.


RENTER EQUITY PROGRAM: AVAILABLE TO LOW-INCOME RENTERS IN OVER-THE-RHINE. THE PROGRAM SERVES APPROXIMATELY 175 INDIVIDUALS ANNUALLY. THE PROGRAM PROVIDES AFFORDABLE HOUSING RESIDENTS TO JOIN AN EQUITY EARNING CLUB THAT PROVIDES MEMBERS THE OPPORTUNITY TO BUILD EQUITY BY INVESTING IN THEMSELVES AND THE COMMUNITY.


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Board, Officers & Key Employees

Name (title)Compensation
Alisa Berry
Executive Director
$98,063
Larry Williams
President
$0
Gloria Samuel
Vice President
$0
Jonathan Bennie
Secretary
$0
Brendon Dunigan
Treasurer
$0
Kurt Hibbett
Trustee
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $80,000
All other contributions, gifts, grants, and similar amounts not included above$823,094
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$903,094
Total Program Service Revenue$216,508
Investment income $4
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
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 $1,123,545

Grants Recieved

Over the last fiscal year, we have identified 15 grants that Cornerstone Renter Equity Inc has recieved totaling $443,500.

Awarding OrganizationAmount
Marge & Charles J Schott Foundation

Cincinnati, OH

PURPOSE: GIVEN TO THE CHARITY'S GENERAL FUND TO BE USED AS THEY SEE FIT

$150,000
Rosenthal Family Foundation

Cincinnati, OH

PURPOSE: UNRESTRICTED CONTRIBUTION

$100,000
Ed & Joann Hubert Family Foundation Inc

Bellevue, KY

PURPOSE: LOW INCOME HOUSING

$42,000
James J And Joan A Gardner Family Foundation

Cincinnati, OH

PURPOSE: EXEMPT PURPOSE OF ORGANIZATION

$40,000
Thomas J Emery Memorial

Cincinnati, OH

PURPOSE: RENTER EQUITY EXPANSION

$20,000
Trust Estate Of George B Riley

Terrace Park, OH

PURPOSE: HOUSING PROGRAMS

$20,000
View Grant Recipient Profile

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