Cornerstone Housing for Adults with Disabilities
Nonprofit profile at a glance
- EIN
- 842737310
- IRS 990 coverage
- 2020–2024
- Forms available
- Form 990 2024, Form 990-T 2023, Form 990-N 2019
- Location
- North Hollywood, CA, USA
- Phone
- 8189853882
- Rating
- 76
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Housing Development, Construction, Management
Reported finances
- Revenue
- $691,067
- Expenses
- $1,553,007
- Assets
- $44,558,817
- Liabilities
- $17,843,612
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
8 people listed
Executive titles in this filing
- KAMBIZ BABAOFF (PRESIDENT)
- DR MICHAEL HELD (EXECUTIVE DIRECTOR)
People named in this filing
- KAMBIZ BABAOFF (PRESIDENT)
- SCOTT KRIEGER (SECRETARY)
- JONATHAN M GLASER (DIRECTOR)
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 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To provide adult living for those who have intellectual & developmental disabilities. Currently in the development stage of developing living structure.
What it reported doing in 2024
The organization intends to develop and operate subsidized housing for persons in the greater los angeles community with recognized physical or mental disabilities or developmental disorders, who have limited financial resources and are dependent to some extent on public and charitable assistance. The organization began a capital campaign to raise funds to develop a center that includes more than 60 individual apartments, program, fitness, and kitchen and dining areas, as well as leased retail space. During the year ended december 31, 2020, the organization acquired the land and building that will be transformed into the center. During fiscal year 2021, the construction project began to transform the location into the intended community which is expected to be completed in 2026.
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 - The filed numbers largely add up and a large share of available resources goes toward mission work. A relatively small share of total spending goes to programs and fundraising costs are high for each dollar raised.
Rating breakdown
- Financial Efficiency: 64
- Transparency & Controls: 92
- Accountability: 88
- Sustainability: 41
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 91.7%; rating input score 92
- Program expense ratio: 38.8%; rating input score 39
- Fundraising efficiency: $0.88 raised per $1 spent on fundraising; rating input score 3; 3rd percentile among comparable filings
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: 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: 5 of 7 controls in place; rating input score 71
- Conflict-of-interest policy: Pass
- 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: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -124.7%; rating input score 1; 1st percentile among comparable filings
- Total-asset coverage ratio: 28.69; rating input score 98; 98th percentile among comparable filings
- Liabilities to assets ratio: 0.4; rating input score 19; 19th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings
Growth
- Program expense growth: 19.3% per year; rating input score 100; 82nd percentile among comparable filings
- Revenue growth: -31.7% per year; rating input score 0; 1st percentile among comparable filings
- Asset growth: 18.8% per year; rating input score 100; 80th percentile among comparable filings
Details
- Where the money goes: 91.7% of revenue deployed · 38.8% of spending went to programs
- Governance: 7 of 7 board members independent · 5 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $602K in reported program spending
- Leadership: top reported pay $0 · 8 people listed
- Highest-paid contractors: 3 contractors listed · $1.4M reported
- Consistency: 26 of 26 current checks pass
- Schedules: 6 filed schedules · includes major donors
- Filing history: 4 filing years from 2020 to 2024
- Contacts: How to reach this organization
- Money network: Resolved incoming and outgoing counterparties from filed money flows.
- Related organizations: Filed and resolved organization relationships.
- 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.
- Moderate — Financial Efficiency: Program expense ratio scored 39/100.
- High — Financial Efficiency: Fundraising efficiency scored 3/100.
- Review — Accountability: Governance controls: 2 of 7 not reported.
- High — Sustainability: Operating margin scored 1/100.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Liabilities to assets ratio scored 19/100.