Cornerstone Renter Equity Inc

Nonprofit profile at a glance

EIN
311170803
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Cincinnati, OH, USA
Phone
5133690114
Rating
88
Verdict
STRONG
Rating confidence
Standard

Reported finances

Revenue
$1,090,404
Expenses
$1,168,600
Assets
$5,061,638
Liabilities
$2,156,324

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

Leadership & pay

17 people listed

Executive titles in this filing

  • LARRY WILLIAMS (PRESIDENT)
  • ALISA BERRY (EXECUTIVE DIRECTOR)

Highest reported compensation

  • ALISA BERRY (EXECUTIVE DIRECTOR): $125,116 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 renter equity (csre) is a community-oriented partner providing a customized, family centered approach to asset building and personal growth through an innovative program called renter equity. The renter equity program provides a unique opportunity for low- income renters to accumulate an asset they have traditionally been unable to access- equity.

What it reported doing in 2024

Renter equity program: renter equity program: available to low-income renters in select cincinnati neighborhoods. The program serves approximately 163 individuals annually. The program provides affordable housing residents the opportunity to join an equity savings and support program club that provides members the opportunity to earn a non-traditional savings account by investing in themselves and the community.

Operating model

Revenue model
Donor-supported. 70% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 89% 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

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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 100
  • Accountability: 90
  • Sustainability: 40
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.7%; rating input score 90
  • Program expense ratio: 83.7%; rating input score 84
  • Fundraising efficiency: $14.03 raised per $1 spent on fundraising; rating input score 48; 48th 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: 100%; rating input score 100; 76th 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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • 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: -7.2%; rating input score 21; 21st percentile among comparable filings
  • Total-asset coverage ratio: 4.33; rating input score 82; 82nd percentile among comparable filings
  • Liabilities to assets ratio: 0.43; rating input score 18; 18th percentile among comparable filings
  • Officer compensation ratio: 10.7%; rating input score 34; 34th percentile among comparable filings

Growth

  • Program expense growth: 9.3% per year; rating input score 100; 60th percentile among comparable filings
  • Revenue growth: 3% per year; rating input score 100; 31st percentile among comparable filings
  • Asset growth: 10.2% per year; rating input score 100; 59th percentile among comparable filings

Details

  • Where the money goes: 89.7% of revenue deployed · 83.7% of spending went to programs
  • Governance: 16 of 16 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $978K in reported program spending
  • Leadership: top reported pay $125K · 17 people listed
  • Consistency: 36 of 36 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 12 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 4 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.
  • 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 48/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Operating margin scored 21/100.
  • High — Sustainability: Liabilities to assets ratio scored 18/100.
  • Moderate — Sustainability: Officer compensation ratio scored 34/100.