Cornerstone Folsom Gardens Corporation Ii

Nonprofit profile at a glance

EIN
680340843
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Denver, CO, USA
Phone
3038303300
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Support

Reported finances

Revenue
$599,429
Expenses
$581,151
Assets
$1,394,434
Liabilities
$91,495

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

Leadership & pay

14 people listed

Executive titles in this filing

  • ALVIN TUVILLA (VICE PRESIDENT)
  • DOUG SHOEMAKER (PRESIDENT)
  • ED HOLDER (VICE PRESIDENT)
  • ELIZABETH KUWADA (VICE PRESIDENT)
  • ERIKA VILLABLANCA (VICE PRESIDENT)
  • MELISSA CLAYTON (VICE PRESIDENT)

Highest reported compensation

  • DOUG SHOEMAKER (PRESIDENT): $317,896 total reported compensation
  • ED HOLDER (VICE PRESIDENT): $310,484 total reported compensation
  • MELISSA CLAYTON (VICE PRESIDENT): $308,489 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 folsom gardens corporation ii is a not-for-profit corporation organized under the laws of the state of California for the purpose of acquiring and operating a 48 unit apartment community known as folsom gardens apartments ii located in folsom, California.

Operating model

Revenue model
Grant-funded. 61% of the money available for current operations came from government grants.
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.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 65
  • Accountability: 62
  • Sustainability: 48
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.7%; rating input score 95
  • Program expense ratio: 97.7%; rating input score 98
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 50%; rating input score 50; 11th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 3%; rating input score 45; 45th percentile among comparable filings
  • Total-asset coverage ratio: 2.4; rating input score 70; 70th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 48; 48th percentile among comparable filings
  • Officer compensation ratio: 48.2%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: 6.9% per year; rating input score 100; 51st percentile among comparable filings
  • Revenue growth: 7.6% per year; rating input score 100; 57th percentile among comparable filings
  • Asset growth: 0% per year; rating input score 100; 18th percentile among comparable filings

Details

  • Where the money goes: 94.7% of revenue deployed · 97.7% of spending went to programs
  • Governance: 1 of 2 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $568K in reported program spending
  • Leadership: top reported pay $318K · 14 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 21 of 21 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 497 filed related-organization links
  • 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.

Key Signals

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

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Independent voting board scored 50/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Moderate — Sustainability: Operating margin scored 45/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 48/100.