Cornerstone Assistance Network Inc
- Assets
- $9.5m
- Revenue
- $12.7m
- Investments
- $124.5k
- Employees
- 48
- Location
- Fort Worth, TX
- Founding
- 10/1992
- Data as of
- 12/2022
- 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 12/2022, Cornerstone Assistance Network Inc employed 48 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 12/2022, Cornerstone Assistance Network Inc generated $12.7m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 19.6% each year . All expenses for the organization totaled $9.8m during the year ending 12/2022. While expenses have increased by 15.2% per year over the past 8 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
2022
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
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
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
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
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 |
Mike Doyle Exec Director | OfficerTrustee | 40 | $126,200 |
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 | $6,476,244 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,650,440 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,126,684 |
| Total Program Service Revenue | $343,884 |
| Investment income | $13,474 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $52,549 |
| Net Gain/Loss on Asset Sales | $127,783 |
| Net Income from Fundraising Events | -$20,977 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,729,429 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,280 |
| Grants and other assistance to domestic individuals. | $6,072,441 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $126,200 |
| Compensation of current officers, directors, key employees. | $7,572 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,782,159 |
| Pension plan accruals and contributions | $70,333 |
| Other employee benefits | $177,730 |
| Payroll taxes | $145,377 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $45,544 |
| Advertising and promotion | $3,580 |
| Office expenses | $291,692 |
| Information technology | $65,760 |
| Royalties | $0 |
| Occupancy | $118,418 |
| Travel | $24,318 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $19,185 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $278,712 |
| Insurance | $63,365 |
| All other expenses | $335,474 |
| Total functional expenses | $9,769,218 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,438,026 |
| Savings and temporary cash investments | $454,293 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $844,937 |
| 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 | $3,514,885 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $124,460 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $98,392 |
| Total assets | $9,474,993 |
| Accounts payable and accrued expenses | $88,035 |
| 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 | $88,035 |
| Net assets without donor restrictions | $4,976,079 |
| Net assets with donor restrictions | $4,410,879 |
| 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 | $9,474,993 |