Cornerstone Community Development Corporation Inc
- Assets
- $1.8m
- Revenue
- $678.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Dallas, TX
- Founding
- 05/1996
- Data as of
- 12/2020
- EIN
- 75-2623357
Organization Overview
Cornerstone Community Development Corporation Inc is located in Dallas, TX. The organization was established in 1996. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cornerstone Community Development Corporation 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 12/2020, Cornerstone Community Development Corporation Inc generated $678.5k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 28.6% each year . All expenses for the organization totaled $658.8k during the year ending 12/2020. While expenses have increased by 25.4% per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE CORNERSTONE COMMUNITY DEVELOPMENT CORPORATION, INC. IS TO IMPROVE THE QUALITY OF THE LIFE OF THE RESIDENTS IN THE SOUTH DALLAS/FAIR PARK COMMUNITY BY PROVIDING PROGRAMS AND SERVICES TO ASSIST THEM IN BREAKING OUT OF THE CYCLE OF POVERTY AND BECOME CONTRIBUTING MEMBERS OF THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CORNERSTONE PROVIDES A NUMBER OF OUTREACHES TO THE HOMELESS COMMUNITY. THESE INCLUDE: SOUP KITCHEN, CLOTHING CLOSET/SHOWER COMPLEX, MEDICAL AND DENTAL CLINICS, AND JOB ASSISTANCE.
CORNERSTONE PROVIDES TEMPORARY HOUSING TO THOSE TRANSITIONING OUT OF PRISON AND TEENAGE GIRLS WHO ARE PREGNANT. ALSO THE AFFORDABLE HOUSING INITIATIVE PROVIDES NO AND LOW COST HOUSING TO COMMUNITY RESIDENTS. THE ORGANIZATION ALSO RENOVATES DILAPIDATED HOUSES AND PURCHASES VACANT LOTS.
THE ORGANIZATION ALSO PROVIDES A LAUNDROMAT, GROCERY STORE AND BIKE SHOP TO ASSIST LOW TO MODERATE INCOME RESIDENTS.
THE ORGANIZATION PROVIDES AFTER SCHOOL TUTORING AND SUMMER DAY CARE OF NEIGHBORHOOD CHILDREN AND YOUTH TO PROVIDE A SAFE ENVIRONMENT FOR THEM WHICH ALSO IS DESIGNED TO HELP MITIGATE SUMMER LEARNING LOSS.
CORNERSTONE PROVIDES A NUMBER OF OUTREACHES TO THE HOMELESS COMMUNITY. THESE INCLUDE: SOUP KITCHEN, CLOTHING CLOSET/SHOWER COMPLEX, MEDICAL AND DENTAL CLINICS, AND JOB ASSISTANCE.
CORNERSTONE PROVIDES TEMPORARY HOUSING TO THOSE TRANSITIONING OUT OF PRISON AND TEENAGE GIRLS WHO ARE PREGNANT. ALSO THE AFFORDABLE HOUSING INITIATIVE PROVIDES NO AND LOW COST HOUSING TO COMMUNITY RESIDENTS. THE ORGANIZATION ALSO RENOVATES DILAPIDATED HOUSES AND PURCHASES VACANT LOTS.
THE ORGANIZATION ALSO PROVIDES A LAUNDROMAT, GROCERY STORE AND BIKE SHOP TO ASSIST LOW TO MODERATE INCOME RESIDENTS.
THE ORGANIZATION PROVIDES AFTER SCHOOL TUTORING AND SUMMER DAY CARE OF NEIGHBORHOOD CHILDREN AND YOUTH TO PROVIDE A SAFE ENVIRONMENT FOR THEM WHICH ALSO IS DESIGNED TO HELP MITIGATE SUMMER LEARNING LOSS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chris L Simmons President | Officer | 20 | $0 |
Charles Jones Vice President Of Board | Officer | 3 | $0 |
Gerald Davis Treasurer | Officer | 5 | $0 |
Charlotte Runnels Secretary Of The Board | Officer | 5 | $0 |
Donald Wesson Director | Trustee | 5 | $0 |
Lonnie Mitchell Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $298,500 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $379,981 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $678,481 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $678,481 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $54,686 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,101 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $658,787 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $65,260 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $1,738,850 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,804,110 |
| Accounts payable and accrued expenses | $315,000 |
| 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 | $315,000 |
| Net assets without donor restrictions | $1,489,110 |
| Net assets with donor restrictions | $0 |
| 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 | $1,804,110 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that Cornerstone Community Development Corporation Inc has recieved totaling $666,844.
| Awarding Organization | Amount |
|---|---|
Good360 Alexandria, VA PURPOSE: TO ASSIST THOSE IN NEED. | $304,565 |
Communities Foundation Of Texas Dallas, TX PURPOSE: THIS GRANT IS DESIGNATED FOR GENERAL SUPPORT. | $137,837 |
Paypal Charitable Giving Fund Washington, DC PURPOSE: General Support | $95,403 |
Real Estate Council Community Fund Dallas, TX PURPOSE: GENERAL SUPPORT | $70,000 |
Dallas Foundation A Tx Nonprofit Corporation Dallas, TX PURPOSE: GENERAL SUPPORT | $20,000 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lutheran Social Service Of The South Inc Austin, TX | $61,046,286 | $96,832,412 |
El Centro Del Barrio Inc San Antonio, TX | $91,252,083 | $101,246,096 |
Community Action Project Of Tulsa County Inc Tulsa, OK | $75,774,694 | $60,674,476 |
St Hope Foundation Inc Houston, TX | $24,463,545 | $68,716,621 |
South Plains Community Action Association Inc Levelland, TX | $29,457,762 | $62,394,779 |
Community Action Corporation Of South Texas Alice, TX | $17,286,971 | $61,888,354 |
Catholic Charities Of Dallas Inc Dallas, TX | $38,189,744 | $60,557,267 |
Goodwill Industries Of San Antonio Contract Services San Antonio, TX | $23,203,084 | $40,622,954 |
Texas Pregnancy Care Network Austin, TX | $10,724,863 | $36,961,915 |
West Texas Opportunities Lamesa, TX | $6,432,231 | $36,739,532 |
Catholic Charities Diocese Of Fort Worth Fort Worth, TX | $33,220,571 | $32,415,025 |
Louisiana United Methodist Children And Family Services Inc Ruston, LA | $89,566,145 | $35,567,717 |