Cornerstone Homes River Garden Inc

Nonprofit profile at a glance

EIN
262832815
IRS 990 coverage
2020–2023
Forms available
Form 990 2023
Location
Lake Charles, LA, USA
Phone
3373326004
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$439,042
Expenses
$554,334
Assets
$4,955,122
Liabilities
$7,385,096

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • PASTOR CHARLES SOUTHALL (President & CEO)

People named in this filing

  • MOSES S GORDON II (Director)
  • ARTHUR WILLIAMS JR (Director)
  • PASTOR CHARLES SOUTHALL (President & CEO)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide low rent housing for those qualifying.

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.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 40
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 99.7%; rating input score 100
  • Program expense ratio: 78.9%; rating input score 79
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -26.3%; rating input score 12; 12th percentile among comparable filings
  • Total-asset coverage ratio: 8.94; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 1.49; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -5.7% per year; rating input score 0; 17th percentile among comparable filings
  • Revenue growth: 9.3% per year; rating input score 100; 70th percentile among comparable filings
  • Asset growth: -3.5% per year; rating input score 0; 14th percentile among comparable filings

Details

  • Where the money goes: 99.7% of revenue deployed · 78.9% of spending went to programs
  • Governance: 3 of 3 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $438K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2020 to 2023
  • Contacts: How to reach this organization
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Sustainability: Operating margin scored 12/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.