CORNERSTONE APARTMENTS INC (EIN 640895603) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1998

Legal Domicile

Principal Officer

MILICENT LEDBETTER

Phone

6016380031

Tax Period

2024-10-01 to 2025-09-30

CORNERSTONE APARTMENTS INC, founded in 1998, is a small nonprofit in the Housing & Shelter sector that reported $107K in total revenue in fiscal year 2024. Revenue grew 19% year-over-year, indicating healthy expansion. Net assets of $293K represent 33 months of operating reserves.

Mission

THE ORGANIZATION OPERATES A 13-UNIT APARTMENT COMPLEX WHICH PROVIDES SUPPORTIVE HOUSING FOR INDIVIDUALS WITH DISABILITES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $107,473

Investment Income $1

Other Revenue $0

TOTAL REVENUE $107,474

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $91,575

Other Expenses $105,388

TOTAL EXPENSES $105,388

Year-over-Year Comparison

	2024	2023	Change
Revenue	$107,474	$90,096	+0.2%
Expenses	$105,388	$111,411	-0.1%
Net Income	$2,086	$-21,315	-1.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DON BROWN	DIRECTOR	N/A	Director	$0	$0	$0
BIRCHEL WASHINGTON	DIRECTOR	N/A	Director	$0	$0	$0
BOBBBY BARTON	SECRETARY	N/A	Officer	$0	$0	$0
MILICENT LEDBETTER	PRESIDENT	N/A	Officer	$0	$0	$0
JAMES ROBERTS	VICE-PRESIDE	N/A	Officer	$0	$0	$0
RICK VESSELL	TREASURER	N/A	Officer	$0	$0	$0

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
2025	$107,474	$105,388	$342,007	$2,086
2024	$90,096	$111,411	$336,677	$-21,315
2023	$80,712	$106,023	$352,050	$-25,311
2022	$78,957	$97,385	$377,245	$-18,428
2021	$69,184	$90,106	$391,729	$-20,922
2020	$63,924	$90,591	$416,442	$-26,667
2019	$69,884	$86,978	$438,698	$-17,094

CORNERSTONE APARTMENTS INC