Cornerstone Assisted Living Inc

What it reported doing in 2024

The filing organization is a part of the ascension catholic health ministry. Ascension is a faith-based healthcare organization that delivers personalized, compassionate care to all, especially to those who need it the most. Cornerstone assisted living, inc. (cal), inspired by the healing mission of the catholic church to the elderly, maximizes dignity and independence of the residents they serve. Rooted in the catholic tradition of caring, as a corporate member of ascension living, our community is continually developing and adopting new best practices in care that enhance the experience of our residents, program participants and patients. The staff is committed to promoting the well-being of those we serve through the delivery of quality care. Cal includes a skilled nursing facility (snf) and two campuses that provide assisted living (al) and memory care (mc). The ridge campus includes a snf with 80 beds and an assisted living (al) with 63 beds. In 2025, the snf had an average occupancy of 72 or 90.0% and the assisted living had an average occupancy of 63 or 96.8%. In fy2025, 116 days of care were provided to medicaid recipents and 5,803 days were provided to medicare recipients. The broadmoor campus was converted from an assisted living to memory care in 2020. The broadmoor campus consists of 37 beds with an average memory care occupany of 30 or 81.1% in 2025. Cal serves people in the wichita area and surrounding counties which include sedgwick, reno, kingman and harvey. As a charitable organization, it is recognized that not all persons served possess the ability to purchase essential services. For medicaid residents, cal was reimbused approximately $387,619 less than our costs. In fy2025, total care of the poor provided was $14,695.

Financial Efficiency

• Mission deployment rate: 81.1%; rating input score 81
• Program expense ratio: 78.6%; rating input score 79
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
• Pay-setting controls: 0 of 6 controls in place; rating input score 0
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Missing
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Limited
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 0%; rating input score 0; 3rd percentile among comparable filings
• Governance controls: 6 of 9 controls in place; rating input score 67
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Fail
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Fail
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -1%; rating input score 27; 27th percentile among comparable filings
• Total-asset coverage ratio: 0.93; rating input score 34; 34th percentile among comparable filings
• Liabilities to assets ratio: 0.81; rating input score 13; 13th percentile among comparable filings
• Officer compensation ratio: 4.1%; rating input score 58; 58th percentile among comparable filings

Growth

• Program expense growth: 3.8% per year; rating input score 100; 32nd percentile among comparable filings
• Revenue growth: 6.1% per year; rating input score 100; 53rd percentile among comparable filings
• Asset growth: -0.1% per year; rating input score 0; 10th percentile among comparable filings