CORNERSTONE OF HOPE INC

EIN: 464074247 501(c)(3) Housing & Shelter

JANESVILLE, WI

Total Revenue
$152,146
Total Expenses
$166,924
Total Assets
$634,358
Net Assets
$621,485
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2013
Legal Domicile
WI
Principal Officer
DAVID THOMAS
Phone
6085634673
Tax Period
2022-01-01 to 2022-12-31

CORNERSTONE OF HOPE INC, founded in 2013, is a small nonprofit in the Housing & Shelter sector that reported $152K in total revenue in fiscal year 2022. Net assets of $621K represent 49 months of operating reserves.

Mission

CORNERSTONE OF HOPE, INC. EXISTS TO IMPROVE THE QUALITY OF LIFE FOR WORKING-CLASS FAMILIES, VETERANS, AND SENIOR CITIZENS IN THE LOW TO MIDDLE-INCOME BRACKET WHO WISH TO IMPROVE THEIR LIVES AND THE LIVES OF THEIR CHILDREN THROUGH BETTER NUTRITION, SAFER LIVING CONDITIONS, AND AFFORDABLE HOUSING.

Program Service Accomplishments

Program 1
Expenses: $64,687 Revenue: $119,287

NEW HOME CONSTRUCTION - CORNERSTONE OF HOPE (CSOH) HELPS FAMILIES WHO DO NOT QUALIFY FOR A CONVENTIONAL MORTGAGE AND ARE IN NEED OF A HELPING HAND TO REACH THEIR GOAL OF HOME OWNERSHIP. HOMES ARE...

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NEW HOME CONSTRUCTION - CORNERSTONE OF HOPE (CSOH) HELPS FAMILIES WHO DO NOT QUALIFY FOR A CONVENTIONAL MORTGAGE AND ARE IN NEED OF A HELPING HAND TO REACH THEIR GOAL OF HOME OWNERSHIP. HOMES ARE SOLD AT NO-INTEREST ON 30-YEAR MORTGAGES TO THE FAMILY AFTER THEY HAVE COMPLETED THEIR SWEAT EQUITY HOURS. HOMES ARE APPROXIMATELY 1,100 SQUARE FEET IN SIZE WITH THREE BEDROOMS, ONE BATHROOM, KITCHEN, LIVING ROOM AND DINING AREAS. FAMILIES LEARN HOW TO MAINTAIN AND CARE FOR THEIR HOME. HOMEOWNERS ARE SET UP TO SUCCEED WITH PAYMENTS THAT INCLUDE REAL ESTATE TAXES, INSURANCE AND PRINCIPAL AT OR BELOW 30% OF THEIR MONTHLY TAKE HOME PAY.

Program 2
Expenses: $36,659 Revenue: $0

HOME SUPPLY OUTLET - THE RETAIL STORES ACCEPT DONATIONS OF NEW AND USED SALE-ABLE BUILDING MATERIALS SUCH AS CABINETS, FLOORING, DOORS, WINDOWS, LUMBER, AS WELL AS LIGHTING AND PLUMBING FIXTURES...

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HOME SUPPLY OUTLET - THE RETAIL STORES ACCEPT DONATIONS OF NEW AND USED SALE-ABLE BUILDING MATERIALS SUCH AS CABINETS, FLOORING, DOORS, WINDOWS, LUMBER, AS WELL AS LIGHTING AND PLUMBING FIXTURES. CORNERSTONE OF HOPE HAS RECYCLED OVER A TON OF MATERIALS FROM THE STORE EACH MONTH THAT WOULD OTHERWISE HAVE BEEN PLACED IN A LANDFILL. SOME MATERIALS ARE USED TO BUILD AND REPAIR HOMES IN ROCK AND JEFFERSON COUNTIES. THE REMINDER IS SOLD TO THE PUBLIC AT 50-75% OFF THE RETAIL PRICE AND THOSE FUNDS ARE USED TO BUILD AND REPAIR THE HOMES OF LOW- TO MIDDLE-INCOME FAMILIES.

Program 3
Expenses: $5,029 Revenue: $393

PRODUCE FOR PANTRIES - CORNERSTONE OF HOPE HELPS INDIVIDUALS AND FAMILIES THROUGHOUT SOUTH CENTRAL WI TO RAISE HIGH QUALITY FRUITS AND VEGETABLES FOR THEMSELVES, THEIR NEIGHBORS, AND AREA PANTRIES...

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PRODUCE FOR PANTRIES - CORNERSTONE OF HOPE HELPS INDIVIDUALS AND FAMILIES THROUGHOUT SOUTH CENTRAL WI TO RAISE HIGH QUALITY FRUITS AND VEGETABLES FOR THEMSELVES, THEIR NEIGHBORS, AND AREA PANTRIES. GARDENERS ARE GIVEN UP TO TWO FREE GARDEN BEDS WITH THE SOIL, SEEDS AND PLANTS NEEDED TO PLANT EACH BED. THEY ARE TAUGHT HOW FOOD GROWS, THE IMPORTANCE OF PROPER NUTRITION AND CREATIVE WAYS TO ADD HEALTHY FOODS TO THEIR DIETS. LOCAL BUSINESSES, SCHOOLS AND COMMUNITY GARDENS HAVE JOINED CORNERSTONE OF HOPE TO GROW NUTRITIOUS FOOD FOR FAMILIES IN NEED. IN 2022 WE PRODUCED THOUSANDS OF POUNDS OF PRODUCE DONATED TO AREA PANTRIES, SENIOR CENTERS AND ORGANIZATIONS PROVIDING MEALS TO PERSONS IN NEED.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $34,342
Program Service Revenue $119,680
Investment Income $440
Other Revenue $-2,316
TOTAL REVENUE $152,146

Expense Breakdown

Grants Paid $0
Salaries & Benefits $134,345
Fundraising Expenses $20,610
Program Expenses $106,375
Other Expenses $32,579
TOTAL EXPENSES $166,924

Year-over-Year Comparison

2022 2021 Change
Revenue $152,146 $158,051 0.0%
Expenses $166,924 $200,486 -0.2%
Net Income $-14,778 $-42,435 -0.7%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
3
Independent Members
3
Employees
3
Volunteers
83

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$64,500
Total Directors
3
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MATT HIRSCH PRESIDENT 1.00
Officer Director
$0 $0 $0
NOAH THOMPSON SECRETARY/TREASURER 1.00
Officer Director
$0 $0 $0
TERRY DULLER DIRECTOR 1.00
Director
$0 $0 $0
DAVID THOMAS EXECUTIVE DIRECTOR 40.00
Officer
$64,500 $0 $64,500
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2022 $152,146 $166,924 $634,358 $-14,778
2021 $158,051 $200,486 $659,881 $-42,435
2020 $170,720 $190,019 $700,270 $-19,299
2019 $160,761 $194,982 $731,837 $-34,221
2018 $161,614 $202,826 $774,749 $-41,212
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