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Nonprofiteer
← CORNERSTONE RENTER EQUITY INC

Form 990 for tax year 2022

Filed by CORNERSTONE RENTER EQUITY INC.

Totals

Total revenue
$1,129,703
Total expenses
$933,204
Contributions and grants received
$913,462
Grants paid
$18,546
Program service revenue
$221,799
Investment income
-$13,729
Other revenue
$8,171
Total assets, end of year
$5,498,631
Total liabilities, end of year
$2,342,455
Net assets or fund balances, end of year
$3,156,176
Program services expenses (Part IX)
$750,473
Management and general expenses
$132,719
Fundraising expenses
$50,012
Program service expenses (Part III)
$750,473

Program services were 80.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1a · Federated campaigns

    $110,000

  • 1e · Government grants (contributions)

    $97,974

  • 1f · All other contributions, gifts and grants

    $705,488

  • 2a · Program service revenue: LOW INCOME HOUSING

    total $196,225 · related or exempt $196,225

  • 2b · Program service revenue: MANAGEMENT FEES

    total $25,574 · related or exempt $25,574

  • 7a · Gross sales of assets other than inventory

    other assets $22,264

  • 7b · Less cost or other basis and sales expenses

    other assets $35,993

  • 7c · Gain or loss

    other assets -$13,729

  • 7d · Net gain or loss

    total -$13,729 · related or exempt -$13,729

  • 11a · Other revenue: OTHER INCOME

    total $8,171 · related or exempt $8,171

  • 11e · Other revenue, total

    $8,171

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $18,546 · program services $18,546

  • 5 · Compensation of officers, directors and key employees

    total $121,566 · program services $100,438 · management and general $15,846 · fundraising $5,282

  • 7 · Other salaries and wages

    total $246,989 · program services $190,282 · management and general $16,039 · fundraising $40,668

  • 8 · Pension plan contributions

    total $4,388 · program services $4,388

  • 9 · Other employee benefits

    total $28,129 · program services $28,129

  • 10 · Payroll taxes

    total $27,273 · program services $21,453 · management and general $2,384 · fundraising $3,436

  • 11b · Fees: legal

    total $682 · program services $682

  • 11c · Fees: accounting

    total $17,240 · management and general $17,240

  • 11g · Fees: other

    total $17,307 · management and general $17,307

  • 12 · Advertising and promotion

    total $4,322 · management and general $4,322

  • 13 · Office expenses

    total $15,595 · program services $2,799 · management and general $12,796

  • 14 · Information technology

    total $1,949 · management and general $1,949

  • 16 · Occupancy

    total $20,477 · management and general $20,477

  • 19 · Conferences, conventions and meetings

    total $12,743 · management and general $12,743

  • 20 · Interest

    total $210 · program services $210

  • 22 · Depreciation, depletion and amortization

    total $182,304 · program services $178,228 · management and general $4,076

  • 23 · Insurance

    total $2,667 · management and general $2,667

  • 24a · Other expenses: PROPERTY MANAGEMENT EXP

    total $136,387 · program services $136,387

  • 24b · Other expenses: RENTER EQUITY

    total $31,310 · program services $31,310

  • 24c · Other expenses: RESIDENT PROGRAM EXPENS

    total $27,863 · program services $27,863

  • 24d · Other expenses: MATCH FOR MATCH SAVINGS

    total $7,036 · program services $7,036

  • 24e · All other expenses

    total $8,221 · program services $2,722 · management and general $4,873 · fundraising $626

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $117,675 · end of year $144,199

  • 2 · Savings and temporary cash investments

    beginning of year $471,126 · end of year $368,663

  • 3 · Pledges and grants receivable

    beginning of year $320,000 · end of year $262,500

  • 4 · Accounts receivable

    beginning of year $7,629 · end of year $11,459

  • 7 · Other notes and loans receivable

    beginning of year $364,948 · end of year $364,948

  • 9 · Prepaid expenses and deferred charges

    beginning of year $52,516 · end of year $48,631

  • 10a · Land, buildings and equipment: cost or other basis

    $4,594,795

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,933,025

  • 10c · Land, buildings and equipment, net

    beginning of year $2,814,881 · end of year $2,661,770

  • 13 · Investments: program-related

    beginning of year $1,600,001 · end of year $1,600,001

  • 15 · Other assets

    beginning of year $36,901 · end of year $36,460

  • 17 · Accounts payable and accrued expenses

    beginning of year $36,020 · end of year $44,926

  • 24 · Unsecured notes and loans payable

    beginning of year $2,697,492 · end of year $2,204,154

  • 25 · Other liabilities

    beginning of year $92,488 · end of year $93,375

  • 27 · Net assets without donor restrictions

    beginning of year $2,606,736 · end of year $2,893,684

  • 28 · Net assets with donor restrictions

    beginning of year $352,941 · end of year $262,492

Mission and programs · 2022

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.

Activities or mission (Part I)

CORNERSTONE MANAGES RENTER EQUITY (SM) HOUSING FOR LOW-INCOME HOUSEHOLDS.

  • AFFORDABLE HOUSING: CSRE OWNS AND MANAGES 25 UNITS OF AFFORDABLE HOUSING. ADDITIONALLY, CSRE PARTNERS WITH PRESERVATION OF AFFORDABLE HOUSING (POAH) ON ANOTHER 50 UNITS LOCATED IN THE OVER THE RHINE COMMUNITY OF CINCINNATI, OHIO.

    Expenses $637,902 · Grants $18,546 · Revenue $216,241

  • RENTER EQUITY PROGRAM: AVAILABLE TO LOW-INCOME RENTERS IN OVER-THE-RHINE. THE PROGRAM SERVES APPROXIMATELY 173 INDIVIDUALS ANNUALLY. THE PROGRAM PROVIDES AFFORDABLE HOUSING RESIDENTS TO JOIN AN EQUITY EARNING CLUB THAT PROVIDES MEMBERS THE OPPORTUNITY TO BUILD EQUITY BY INVESTING IN THEMSELVES AND THE COMMUNITY.

    Expenses $112,571

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Larry Williams

    PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Gloria Samuel

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • Jonathan Bennie

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Brendon Dunigan

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • Bernice Cooper

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Max Kilb

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • John Hancock

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Kurt Hibbett

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Deb Kelley

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Kurt Billups

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Robert Maly

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Brian Smyth

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Joe Sunderman

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Alisa Berry

    EXECUTIVE DIRECTOR

    Total calculated
    $121,566
    From this org
    $105,638
    From related orgs
    $0
    Other
    $15,928
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • RACE REPUBLIC & GREEN LLC

    REAL ESTATE · OH · income $710,798 · assets $2,706,210

    Directly controlled by CORNERSTONE RENTER EQUITY INC

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • ABINGTON RACE AND PLEASANT LLC

    EXCLUDED · REAL ESTATE · OH · 0.05% owned · share of income -$258 · share of assets $5,782 · general or managing partner

    Directly controlled by CORNERSTONE RENTER EQUITY INC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • ARP CSE ASSOCIATES LLC

    C · REAL ESTATE · OH · 100% owned · share of income -$258 · share of assets $2,377,624

    Directly controlled by CORNERSTONE RENTER EQUITY INC

Provenance

Return type
form_990
Tax year
2022
Filed
26 September 2023
IRS schema version
2022v5.0
Source object
202312769349301071

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