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Cornerstone Senior Communities FY2023 filing

Tax-deductible

Sutherland, IA501(c)(3)Since 2003EIN 20-0273031Revenue $112K in FY2023

On file with the IRS409 Ash St Ste 15, 51058-7663 · Sutherland, IATax-exempt since Jun 2004Publicly supported — 509(a)(2)

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Provide retirement housing and independent living to Senior citizens.

501(c)(3) charity; gifts are tax-deductible.
72¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 6
filings with a surplus
Average deficit $36K a year · 33% of revenue · last 6 filings
Concern: a surplus in 0 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
72%
of spending
Fine: 72% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 1.7 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$268K
59% of total assets
Fine: liabilities are 59% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$112K
+15% vs prior year
Spent
$144K
To programs
72%
Net assets
$185K
By yearFY2020–FY2025
Revenue
$112K
FY2023▲ +15%
Tap a bar for its year
Revenue by fiscal year
FY2020$87K
FY2021$93K
FY2022$98K
FY2023$112K
FY2024$116K
FY2025$162K
Expenses
$144K
FY2023▲ +5%
Tap a bar for its year
Expenses by fiscal year
FY2020$142K
FY2021$147K
FY2022$137K
FY2023$144K
FY2024$147K
FY2025$169K
Net assets
$185K
FY2023▼ -15%
Tap a bar for its year
Net assets by fiscal year
FY2020$311K
FY2021$257K
FY2022$217K
FY2023$185K
FY2024$155K
FY2025$147K

From the FY2023 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 2004.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

72 cents of each dollar spent went to programs.

Program services 72% · $103K Management & general 28% · $41K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation
Mark Cody
Executive Di
$0Pt VII · Sec A
Cheryl Cronin
President
$0Pt VII · Sec A
Tom Draper
Director
$0Pt VII · Sec A
Peg Heidesch
Vice Preside
$0Pt VII · Sec A
Judy Schultz
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Tom Steele
Treasurer
$0Pt VII · Sec A
See Cornerstone Senior Communities executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Offers senior citizens affordable housing and support for independent living.

Questions for Cornerstone Senior Communities

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Provided by the organization

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1 program · $103K · in their own filed words · FY2023
01

Dedication to enriching the quality of life of senior citizens wishing to maintain an independent lifestyle who, by virtue of age, require some assistance to maintain an independent lifestyle.

$103Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$112K
Ln 12
Fees for servicesLn 2g$111K
Investment incomeLn 3$920
Money outPt IX
$144K
Ln 25
Programscol B$103K
Managementcol C$41K
Owns and owesPt X
$185K
net assets · Ln 32
Cash and savingsLn 1–2$20K
Total assetsLn 16$453K
LiabilitiesLn 26$268K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$111K
Investment incomeLn 3$920
Total revenueLn 12$112K
Assets in detailPt X, end of year
CashLn 1$20K
Cash and savings togetherLn 1–2$20K
Land, buildings, equipmentLn 10c$430K
Total assetsLn 16$453K
LiabilitiesLn 26$268K
Net assetsLn 32$185K
OperationsPt I, VI
EmployeesI 50
VolunteersI 615
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$13K$20K
Land, buildings, equipmentLn 10c$470K$430K
Total assetsLn 16$485K$453K
LiabilitiesLn 26$268K$268K
Net assetsLn 32$217K$185K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$18K$18K
Accounting feesLn 11c$12K$12K
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$5K$5K
OccupancyLn 16$36K$36K
InterestLn 20$7K$7K
Depreciation, depletion and amortizationLn 22$51K$51K
InsuranceLn 23$9K$9K
Other expenses (24a–d)Ln 24$4K$4K
Total functional expensesLn 25$144K$103K$41K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $162K$169K−$8K$147K 990 PDF
FY2024 $116K$147K−$31K$155K 990 PDF
FY2023 Viewing $112K$144K−$32K$185K 990 PDF
FY2022 $98K$137K−$39K$217K 990 PDF
FY2021 $93K$147K−$54K$257K 990 PDF
FY2020 $87K$142K−$54K$311K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $112,279 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $97,815$111,359
I-10 Investment incomePrior year $31$920
I-11 Other revenue$0
I-12 Total revenuePrior year $97,846$112,279
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $137,300$144,235
I-18 Total expensesPrior year $137,300$144,235
I-19 Revenue less expensesPrior year −$39,454−$31,956
Part VI · Governance 6 of 6 board members independent, no flags
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $112,279 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $111,359$111,359
VIII-3 Investment incomeExcluded from tax $920$920
VIII-12 Total revenueRelated to mission $111,359 · Excluded from tax $920$112,279
Part IX · Statement of functional expenses $144,235 across 9 lines filed
IX-11a Management feesManagement $18,000$18,000
IX-11c Accounting feesManagement $12,085$12,085
IX-12 Advertising and promotionManagement $1,834$1,834
IX-13 Office expensesPrograms $5,438$5,438
IX-16 OccupancyPrograms $35,665$35,665
IX-20 InterestPrograms $7,161$7,161
IX-22 Depreciation, depletion and amortizationPrograms $51,033$51,033
IX-23 InsuranceManagement $9,176$9,176
IX-24 Other expenses (24a–d)Programs $3,843$3,843
IX-25 Total functional expensesPrograms $103,140 · Management $41,095 · Fundraising $0$144,235
Part X · Balance sheet $452,702 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $12,785$20,457
X-9 Prepaid expenses and deferred chargesStart of year $2,261$2,518
X-10c Land, buildings and equipment, netStart of year $469,629$429,727
X-16 Total assetsStart of year $484,675$452,702
X-17 Accounts payable and accrued expensesStart of year $137,311$161,393
X-26 Total liabilitiesStart of year $267,589$267,572
X-32 Total net assets or fund balancesStart of year $217,086$185,130
X-33 Total liabilities and net assetsStart of year $484,675$452,702
Part XI · Reconciliation of net assets $185,130 net assets at year end
XI-1 Total revenue$112,279
XI-2 Total expenses$144,235
XI-3 Revenue less expenses−$31,956
XI-4 Net assets at start of year$217,086
XI-10 Net assets at end of year$185,130

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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