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
Transparency grade
A
To understand our transparency grade, click here.
Financial efficiency ratings
Sector: Relief and Development
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 242 of 1118 | 23 of 93 |
| Fund acquisition rating | | 169 of 1119 | 18 of 93 |
| Resource allocation rating | | 182 of 1119 | 15 of 93 |
| Asset utilization rating | | 789 of 1118 | 63 of 93 |
Financial ratios
| Funding ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 7% | 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 ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Program expense ratio Program expense ratio = Program services / Total expenses | 86% | 96% | 91% | 88% | 85% | 88% |
Spending ratio Spending ratio = Total expenses / Total revenue | 99% | 77% | 93% | 90% | 77% | 103% |
Program output ratio Program output ratio = Program services / Total revenue | 86% | 74% | 84% | 79% | 65% | 90% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 1% | 23% | 7% | 10% | 23% | -3% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 3% | 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 ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 1.42 | 1.03 | 1.00 | 0.65 | 0.61 | 0.67 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 1.24 | 1.65 | 2.01 | 2.30 | 2.52 | 4.25 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.89 | 1.70 | 2.00 | 1.48 | 1.54 | 2.86 |
| Liquidity ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Current ratio Current ratio = Total current assets / Total current liabilities | 15.83 | 65.17 | 69.00 | 27.76 | 66.55 | 169.61 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.06 | 0.02 | 0.01 | 0.04 | 0.02 | 0.01 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 6.10 | 6.94 | 5.90 | 7.81 | 7.68 | 4.17 |
| Solvency ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
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 | 62% | 96% | 99% | 153% | 163% | 149% |
Financials
| Balance sheet | |||||
| Assets | 2022 | 2021 | 2020 | 2019 | 2018 |
| 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 |
| Liabilities | 2022 | 2021 | 2020 | 2019 | 2018 |
| 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 assets | 2022 | 2021 | 2020 | 2019 | 2018 |
| 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 | |||||
| Revenue | 2022 | 2021 | 2020 | 2019 | 2018 |
| 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 |
| Expenses | 2022 | 2021 | 2020 | 2019 | 2018 |
| 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 assets | 2022 | 2021 | 2020 | 2019 | 2018 |
| 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
| Name | Title | Compensation |
| Mike Doyle | Exec 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.