Cornerstone Housing North Inc

Overview

Mission

To provide affordable and supportive housing for the very-low and low income elderly people.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

Nonprofit profile at a glance

EIN
510538131
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Headquarters
Berlin, NH, USA
Phone
6037527001
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 38
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.1%; rating input score 91
  • Program expense ratio: 68.3%; rating input score 68
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -33.3%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 8.35; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 1; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -1% per year; rating input score 0; 27th percentile among comparable filings
  • Revenue growth: 4.2% per year; rating input score 100; 48th percentile among comparable filings
  • Asset growth: -1.9% per year; rating input score 0; 18th percentile among comparable filings

Details

  • Where the money goes: 91.1% of revenue deployed · 68.3% of spending went to programs
  • Governance: 5 of 5 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $157K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 16 annual filings from 2009 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Leadership & pay

5 people listed

Source: IRS Form 990. Selected filing: FY2024.