Cornerstone Assistance Network

Summary

Cornerstone Assistance Network was founded in 1992 to meet the needs and restore the hope of individuals and families struggling under the burden of poverty in Tarrant County, Texas.


Contact information

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

Website: canetwork.org

Phone: 817-632-6000

Email: info@canetwork.org


Organization details

EIN: 752417646

CEO/President: Mr. Mike Doyle

Chairman: Michael Cooke

Board size: 15

Founder:

Year founded: 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

Transparency grade

A

To understand our transparency grade, click here.


Financial efficiency ratings

Sector: Advocacy

CategoryRatingOverall rankSector rank
Overall efficiency rating309 of 66010 of 33
Fund acquisition rating136 of 6625 of 33
Resource allocation rating203 of 6626 of 33
Asset utilization rating619 of 66030 of 33

Financial ratios

Funding ratiosSector median20182017201620152014
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
8%2%5%5%7%6%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
7%2%4%4%5%5%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
95%73%81%78%74%84%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
7%2%5%3%5%5%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
5%27%19%22%26%16%
 
Operating ratiosSector median20182017201620152014
Program expense ratio Program expense ratio =
Program services /
Total expenses
82%88%86%84%79%79%
Spending ratio Spending ratio =
Total expenses /
Total revenue
97%103%77%112%103%98%
Program output ratio Program output ratio =
Program services /
Total revenue
82%90%66%94%82%77%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
3%-3%23%-12%-3%2%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
6%-2%20%-10%-2%2%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
10%11%10%13%16%16%
 
Investing ratiosSector median20182017201620152014
Total asset turnover Total asset turnover =
Total expenses /
Total assets
1.370.670.670.710.630.54
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
1.264.255.546.646.007.97
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
2.532.863.734.703.754.29
 
Liquidity ratiosSector median20182017201620152014
Current ratio Current ratio =
Total current assets /
Total current liabilities
9.06169.6141.9713.1980.3216.83
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.110.010.020.080.010.06
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
4.174.173.142.363.162.63
 
Solvency ratiosSector median20182017201620152014
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
12%0%0%21%19%22%
Debt ratio Debt ratio =
Debt /
Total assets
0%0%0%0%0%1%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
64%149%148%112%129%145%

Financials

Balance sheet
 
Assets20182017201620152014
Cash$992,651$804,072$584,007$778,209$536,051
Receivables, inventories, prepaids$64,169$25,319$121,276$60,042$119,832
Short-term investments$0$0$0$0$0
Other current assets$0$0$0$0$0
Total current assets$1,056,820$829,391$705,283$838,251$655,883
Long-term investments$33,487$9,071$0$9,608$11,204
Fixed assets$3,215,806$3,571,805$3,851,453$4,056,751$4,344,723
Other long-term assets$186,238$181,977$125,995$128,938$218,135
Total long-term assets$3,435,531$3,762,853$3,977,448$4,195,297$4,574,062
Total assets$4,492,351$4,592,244$4,682,731$5,033,548$5,229,945
 
Liabilities20182017201620152014
Payables and accrued expenses$6,231$19,762$53,456$10,436$5,032
Other current liabilities$0$0$0$0$33,939
Total current liabilities$6,231$19,762$53,456$10,436$38,971
Debt$0$0$0$0$34,328
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$0$0$916,412$963,186$1,087,125
Total long-term liabilities$0$0$916,412$963,186$1,121,453
Total liabilities$6,231$19,762$969,868$973,622$1,160,424
 
Net assets20182017201620152014
Unrestricted$3,648,797$3,978,205$3,256,812$3,596,498$3,646,260
Temporarily restricted$429,109$186,063$50,737$62,064$28,072
Permanently restricted$408,214$408,214$405,314$401,364$395,189
Net assets$4,486,120$4,572,482$3,712,863$4,059,926$4,069,521
 
Revenues and expenses
 
Revenue20182017201620152014
Total contributions$2,140,576$3,226,050$2,317,546$2,268,451$2,428,249
Program service revenue$368,025$328,800$298,558$431,413$421,814
Membership dues$0$0$0$0$0
Investment income$76,419$42,684$7,806$7,766$7,863
Other revenue$347,567$401,816$332,275$341,028$27,692
Total other revenue$792,011$773,300$638,639$780,207$457,369
Total revenue$2,932,587$3,999,350$2,956,185$3,048,658$2,885,618
 
Expenses20182017201620152014
Program services$2,652,530$2,647,664$2,787,403$2,493,352$2,225,792
Management and general$317,781$297,697$419,076$496,555$442,243
Fundraising$49,647$148,585$105,294$157,425$148,222
Total expenses$3,019,958$3,093,946$3,311,773$3,147,332$2,816,257
 
Change in net assets20182017201620152014
Surplus (deficit)($87,371)$905,404($355,588)($98,674)$69,361
Other changes in net assets$0$0$0$0$0
Total change in net assets($87,371)$905,404($355,588)($98,674)$69,361

Response from ministry

No response has been provided by this ministry.


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