Cornerstone Franciscan Ministries Inc

Nonprofit profile at a glance

EIN
920283902
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
Lutherville, MD, USA
Phone
4105382830
Rating
87
Verdict
STRONG
Rating confidence
Moderate
Sector
Management & Technical Assistance
Affiliation
Religious (unspecified)

Reported finances

Revenue
$2,484,879
Expenses
$2,707,747
Assets
$1,997,492
Liabilities
$500,541

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

Leadership & pay

9 people listed

Executive titles in this filing

  • REV DR KRISTOFER LINDH-PAYNE (PRESIDENT)
  • STEVE MORGAN (VICE-PRESIDENT)
  • ABBOGGS JR (DIRECTOR, EX-OFFICIO, CEO/)

Highest reported compensation

  • ABBOGGS JR (DIRECTOR, EX-OFFICIO, CEO/): $178,301 total reported compensation
  • JOSEPH M BENTZEN (FINANCE DIRECTOR): $104,316 total reported compensation

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

Overview

Mission

Investing in people and inspiring community.

What it reported doing in 2024

Cornerstone has developed an innovative financial wellness approach to support the work of its core ministries. Through its family services ministry, cornerstone works directly with individuals and families to build key life skills, secure access to and maintain affordable housing, and meet their goals toward a better future

Operating model

Revenue model
Grant-funded. 82% of the money available for current operations came from government grants.
Distribution model
Hybrid. The nonprofit split its reported program spending across 50% for direct work, and 50% for grants.

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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 95
  • Accountability: 95
  • Sustainability: 23
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 93.8%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 6 of 6 controls in place; rating input score 100
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • 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: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • 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: -9%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 0.74; rating input score 27; 27th percentile among comparable filings
  • Liabilities to assets ratio: 0.25; rating input score 39; 39th percentile among comparable filings
  • Officer compensation ratio: 10.4%; rating input score 29; 29th percentile among comparable filings

Growth

  • Program expense growth: 43.7% per year; rating input score 100; 96th percentile among comparable filings
  • Revenue growth: 11.5% per year; rating input score 100; 73rd percentile among comparable filings
  • Asset growth: -45.4% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 93.8% of spending went to programs
  • Governance: 7 of 7 board members independent · 8 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $2.5M in reported program spending
  • Leadership: top reported pay $178K · 9 people listed · 6 of 6 pay-setting controls reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 6 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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 — Sustainability: Operating margin scored 14/100.
  • High — Sustainability: Total-asset coverage ratio scored 27/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Accountability: Governance controls: Whistleblower policy not reported.
  • High — Sustainability: Officer compensation ratio scored 29/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 39/100.