Cornerstone Assistance Network

The information on this page was last updated 5/7/2024. 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

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Transparency grade

A

To understand our transparency grade, click here.


Financial efficiency ratings

Sector: Relief and Development

CategoryRatingOverall rankSector rank
Overall efficiency rating233 of 111024 of 88
Fund acquisition rating160 of 111118 of 88
Resource allocation rating144 of 111114 of 88
Asset utilization rating793 of 111062 of 88

Financial ratios

Funding ratiosSector median20222021202020192018
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
6%0%1%1%2%2%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
6%0%1%0%1%2%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
99%72%90%80%70%73%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
6%0%1%1%2%2%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
1%28%10%20%30%27%
 
Operating ratiosSector median20222021202020192018
Program expense ratio Program expense ratio =
Program services /
Total expenses
86%96%91%88%85%88%
Spending ratio Spending ratio =
Total expenses /
Total revenue
97%77%93%90%77%103%
Program output ratio Program output ratio =
Program services /
Total revenue
82%74%84%79%65%90%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
3%23%7%10%23%-3%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
6%32%7%8%19%-2%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
6%4%9%12%14%11%
 
Investing ratiosSector median20222021202020192018
Total asset turnover Total asset turnover =
Total expenses /
Total assets
1.511.031.000.650.610.67
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
1.231.652.012.302.524.25
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.891.702.001.481.542.86
 
Liquidity ratiosSector median20222021202020192018
Current ratio Current ratio =
Total current assets /
Total current liabilities
16.1265.1769.0027.7666.55169.61
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.060.020.010.040.020.01
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
5.826.945.907.817.684.17
 
Solvency ratiosSector median20222021202020192018
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
8%1%1%2%1%0%
Debt ratio Debt ratio =
Debt /
Total assets
0%0%0%0%0%0%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
60%96%99%153%163%149%

Financials

Balance sheet
 
Assets20222021202020192018
Cash$4,892,319$2,193,039$2,626,000$2,179,841$992,651
Receivables, inventories, prepaids$844,937$1,032,145$10,701$19,742$64,169
Short-term investments$0$0$0$0$0
Other current assets$0$0$0$0$0
Total current assets$5,737,256$3,225,184$2,636,701$2,199,583$1,056,820
Long-term investments$124,460$125,719$68,357$52,975$33,487
Fixed assets$3,514,885$2,963,481$3,186,039$3,124,174$3,215,806
Other long-term assets$98,392$159,104$164,585$169,140$186,238
Total long-term assets$3,737,737$3,248,304$3,418,981$3,346,289$3,435,531
Total assets$9,474,993$6,473,488$6,055,682$5,545,872$4,492,351
 
Liabilities20222021202020192018
Payables and accrued expenses$88,035$46,741$94,965$33,050$6,231
Other current liabilities$0$0$0$0$0
Total current liabilities$88,035$46,741$94,965$33,050$6,231
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$88,035$46,741$94,965$33,050$6,231
 
Net assets20222021202020192018
Without donor restrictions$4,976,079$5,261,690$4,372,326$3,814,685$3,648,797
With donor restrictions$4,410,879$1,165,057$1,588,391$1,698,137$837,323
Net assets$9,386,958$6,426,747$5,960,717$5,512,822$4,486,120
 
Revenues and expenses
 
Revenue20222021202020192018
Total contributions$9,126,684$6,230,135$3,476,724$3,093,681$2,140,576
Program service revenue$343,884$293,345$222,607$358,911$368,025
Membership dues$0$0$0$0$0
Investment income$141,257($8,531)$68,211$302,248$76,419
Other revenue$3,117,604$413,436$587,902$654,564$347,567
Total other revenue$3,602,745$698,250$878,720$1,315,723$792,011
Total revenue$12,729,429$6,928,385$4,355,444$4,409,404$2,932,587
 
Expenses20222021202020192018
Program services$9,395,509$5,852,571$3,436,965$2,865,625$2,652,530
Management and general$346,016$558,633$450,827$463,147$317,781
Fundraising$27,693$51,147$19,757$54,620$49,647
Total expenses$9,769,218$6,462,351$3,907,549$3,383,392$3,019,958
 
Change in net assets20222021202020192018
Surplus (deficit)$2,960,211$466,034$447,895$1,026,012($87,371)
Other changes in net assets$0$0$0$0$0
Total change in net assets$2,960,211$466,034$447,895$1,026,012($87,371)

Compensation

NameTitleCompensation
Mike DoyleExec Director$126,200

Compensation data as of: 12/31/2022


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 5/7/2024. 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