Cornerstone Family Programs

Nonprofit profile at a glance

EIN
221489900
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Morristown, NJ, USA
Phone
9732889248
Rating
83
Verdict
STRONG
Rating confidence
Standard
Sector
Family Services

Official website

Reported finances

Revenue
$7,105,093
Expenses
$7,518,724
Assets
$10,755,290
Liabilities
$2,148,798

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

26 people listed

Executive titles in this filing

  • PATRICE PICARD (CEO)
  • JACQUELYN LOOBY (VICE PRESIDENT, PROGRAMS)

Highest reported compensation

  • PATRICE PICARD (CEO): $184,191 total reported compensation
  • COLE JORDAN (CFO): $146,868 total reported compensation
  • GWENN HELLER-DELLAPELLE (DIRECTOR OF DEVELOPMENT): $136,868 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Cornerstone family programs is a private, not-for-profit organization dedicated to strengthening communities by helping people build better lives.

What it reported doing in 2024

Programs for children: we offer quality pre-school education, before/after school, summer camp, and teen work-force programs, as well as programs to improve the physical and emotional health and social development of children through mentoring, recreation (basketball, soccer, other sports, and youth night) and the arts (violin, dance and other visual and performing arts).programs for adolescents: we offer several programs and collaborate with other organizations under our teen pathways to brighter futures suite of services and offerings (for example, college prep, nabe teens @ work, rites of passage, teen mental health first aid, open gym, teen rap (resilience and purpose), and boys 2 men) that help youth reach their full potential and successfully transition into adulthood. To support our pre-teen, teen and young adult populations, we focus on improving school performance and increasing future academic and career success through after school programs, college, act/sat and career preparation programs, and mentoring, as well as providing employment in our workforce development, training and internship programs. Our goal is to help young people make smart choices through counseling, education, and enriching social, cultural and recreational programs that create more opportunities to hone their leadership and decision-making skills and empower them for advancement and long-term success.during 2024, over 960 children and adolescents participated in these programs.

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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 76
  • Accountability: 100
  • Sustainability: 33
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90.6%; rating input score 91
  • Program expense ratio: 86.4%; rating input score 86
  • Fundraising efficiency: $10.64 raised per $1 spent on fundraising; rating input score 40; 40th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 20th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -5.8%; rating input score 19; 19th percentile among comparable filings
  • Total-asset coverage ratio: 1.43; rating input score 50; 50th percentile among comparable filings
  • Liabilities to assets ratio: 0.2; rating input score 44; 44th percentile among comparable filings
  • Officer compensation ratio: 7.8%; rating input score 38; 38th percentile among comparable filings

Growth

  • Program expense growth: 2% per year; rating input score 100; 22nd percentile among comparable filings
  • Revenue growth: 4.2% per year; rating input score 100; 35th percentile among comparable filings
  • Asset growth: 0.8% per year; rating input score 100; 15th percentile among comparable filings

Details

  • Where the money goes: 90.6% of revenue deployed · 86.4% of spending went to programs
  • Governance: 22 of 22 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $6.5M in reported program spending
  • Leadership: top reported pay $184K · 26 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $997K reported
  • Consistency: 32 of 33 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 40/100.
  • High — Sustainability: Operating margin scored 19/100.
  • Review — Sustainability: Total-asset coverage ratio scored 50/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 38/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 44/100.