Cornerstone Assistance Network

The information on this page was last updated 1/31/2023. If you see errors or omissions, please email: [email protected]


Summary

Established in 1992, Cornerstone was founded for two primary purposes: (1) to provide direct services to individuals and families struggling with poverty in Tarrant County, Texas, and (2) to offer resources to churches and community agencies to help them better serve the needy in their own communities.


Contact information

Mailing address:
Cornerstone Assistance Network
3500 Noble Ave
Fort Worth, TX 76111

Website: cornerstonefortworth.org

Phone: 817-632-6000

Email: [email protected]


Organization details

EIN: 752417646

CEO/President: Mike Doyle

Chairman: Michael Cooke

Board size: 14

Founder:

Ruling year: 1992

Tax deductible: Yes

Fiscal year end: 12/31

Member of ECFA: Yes

Member of ECFA since: 2000


Purpose

Since inception, Cornerstone has been a major resource for churches, businesses and other community organizations through its provision of relief, recovery and restoration services. By networking other agencies, Cornerstone offers direct-service programs that are non-duplicated in approach and efficient in administration.


Mission statement

Uniting with others in Christian love to meet the needs of people.


Statement of faith

Donor confidence score

Show donor confidence score details

Transparency grade

A

To understand our transparency grade, click here.


Financial efficiency ratings

Sector: Relief and Development

CategoryRatingOverall rankSector rank
Overall efficiency rating375 of 109728 of 84
Fund acquisition rating124 of 109912 of 84
Resource allocation rating333 of 109924 of 84
Asset utilization rating896 of 109767 of 84

Financial ratios

Funding ratiosSector median20212020201920182017
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
5%1%1%2%2%5%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
5%1%0%1%2%4%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
99%90%80%70%73%81%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
5%1%1%2%2%5%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
1%10%20%30%27%19%
 
Operating ratiosSector median20212020201920182017
Program expense ratio Program expense ratio =
Program services /
Total expenses
86%91%88%85%88%86%
Spending ratio Spending ratio =
Total expenses /
Total revenue
94%93%90%77%103%77%
Program output ratio Program output ratio =
Program services /
Total revenue
80%84%79%65%90%66%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
6%7%10%23%-3%23%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
12%7%8%19%-2%20%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
6%9%12%14%11%10%
 
Investing ratiosSector median20212020201920182017
Total asset turnover Total asset turnover =
Total expenses /
Total assets
1.591.000.650.610.670.67
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
1.222.012.302.524.255.54
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.982.001.481.542.863.73
 
Liquidity ratiosSector median20212020201920182017
Current ratio Current ratio =
Total current assets /
Total current liabilities
18.3469.0027.7666.55169.6141.97
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.050.010.040.020.010.02
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
5.645.907.817.684.173.14
 
Solvency ratiosSector median20212020201920182017
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
8%1%2%1%0%0%
Debt ratio Debt ratio =
Debt /
Total assets
0%0%0%0%0%0%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
58%99%153%163%149%148%

Financials

Balance sheet
 
Assets20212020201920182017
Cash$2,193,039$2,626,000$2,179,841$992,651$804,072
Receivables, inventories, prepaids$1,032,145$10,701$19,742$64,169$25,319
Short-term investments$0$0$0$0$0
Other current assets$0$0$0$0$0
Total current assets$3,225,184$2,636,701$2,199,583$1,056,820$829,391
Long-term investments$125,719$68,357$52,975$33,487$9,071
Fixed assets$2,963,481$3,186,039$3,124,174$3,215,806$3,571,805
Other long-term assets$159,104$164,585$169,140$186,238$181,977
Total long-term assets$3,248,304$3,418,981$3,346,289$3,435,531$3,762,853
Total assets$6,473,488$6,055,682$5,545,872$4,492,351$4,592,244
 
Liabilities20212020201920182017
Payables and accrued expenses$46,741$94,965$33,050$6,231$19,762
Other current liabilities$0$0$0$0$0
Total current liabilities$46,741$94,965$33,050$6,231$19,762
Debt$0$0$0$0$0
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$0$0$0$0$0
Total long-term liabilities$0$0$0$0$0
Total liabilities$46,741$94,965$33,050$6,231$19,762
 
Net assets20212020201920182017
Without donor restrictions$5,261,690$4,372,326$3,814,685$3,648,797$3,978,205
With donor restrictions$1,165,057$1,588,391$1,698,137$837,323$594,277
Net assets$6,426,747$5,960,717$5,512,822$4,486,120$4,572,482
 
Revenues and expenses
 
Revenue20212020201920182017
Total contributions$6,230,135$3,476,724$3,093,681$2,140,576$3,226,050
Program service revenue$293,345$222,607$358,911$368,025$328,800
Membership dues$0$0$0$0$0
Investment income($8,531)$68,211$302,248$76,419$42,684
Other revenue$413,436$587,902$654,564$347,567$401,816
Total other revenue$698,250$878,720$1,315,723$792,011$773,300
Total revenue$6,928,385$4,355,444$4,409,404$2,932,587$3,999,350
 
Expenses20212020201920182017
Program services$5,852,571$3,436,965$2,865,625$2,652,530$2,647,664
Management and general$558,633$450,827$463,147$317,781$297,697
Fundraising$51,147$19,757$54,620$49,647$148,585
Total expenses$6,462,351$3,907,549$3,383,392$3,019,958$3,093,946
 
Change in net assets20212020201920182017
Surplus (deficit)$466,034$447,895$1,026,012($87,371)$905,404
Other changes in net assets$0$0$0$0$0
Total change in net assets$466,034$447,895$1,026,012($87,371)$905,404

Compensation

NameTitleCompensation
Mike DoyleExec Director$126,575

Compensation data as of: 12/31/2021


Response from ministry

No response has been provided by this ministry.


The information below was provided to MinistryWatch by the ministry itself. It was last updated 1/31/2023. To update the information below, please email: [email protected]


History

Starting with a $30,000 gift from North Richland Hills Baptist Church in 1992, Cornerstone's Network now includes hundreds of churches, organizations, and businesses who desire to make a difference in the lives of those who are suffering under the burden of poverty.


Program accomplishments


Needs