2024-05-15T10:49:58-05:00 2023-06-30 440160260 FORVIS LLP 1410 SPRING HILL ROAD SUITE 500 TYSONS VA 221023056 990 2022-07-01 541714395 CORNERSTONES HOUSING CORPORATION CORN 5713239555 11150 SUNSET HILLS RD STE 210 RESTON VA 20190 KERRIE B WILSON CEO 5713239555 2024-05-14 1 KERRIE WILSON 999009999 1 LAKRISHA J CASTLEBERRY P01677333 7039700400 2024-05-14 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z KERRIE B WILSON 11150 SUNSET HILLS RD STE 210 RESTON VA 20190 1067653 0 X WWW.CORNERSTONESVA.ORG/HOUSING X 1970 VA TO PROVIDE AFFORDABLE HOUSING FOR LOW- TO MODERATE-INCOME RESIDENTS BY CONSTRUCTING AND/OR ACQUIRING HOUSING UNITS, MANAGING THE HOUSING PORTFOLIO, AND ADVOCATING FOR PROGRAMS AND POLICIES THAT SUPPORT THE PRESERVATION, DEVELOPMENT, AND INTEGRATION OF AFFORDABLE HOUSING FOR AN INCLUSIVE AND EQUITABLE FAIRFAX-FALLS CHURCH COMMUNITY. 9 8 0 20 0 0 0 1189 1049262 1035891 11557 30573 13773 0 1074592 1067653 0 0 0 0 0 0 0 0 0 1225017 1434349 1225017 1434349 -150425 -366696 10378427 10028391 9233269 9249929 1145158 778462 X CORNERSTONES HOUSING CORPORATION (CHC) OPERATES AS THE AFFORDABLE HOUSING ARM OF CORNERSTONES, INC. TOGETHER, CORNERSTONES AND ITS SUBSIDIARY CHC HAVE SERVED FAIRFAX COUNTY LOW- TO MODERATE-INCOME RESIDENTS FOR OVER 50 YEARS. WORKING IN LONG-TERM PARTNERSHIP WITH LOCAL JURISDICTIONS, CHC PROVIDES AFFORDABLE RENTAL HOUSING AND WRAP-AROUND SUPPORTS TO FAMILIES AND INDIVIDUALS EXPERIENCING HOMELESSNESS OR WHO ARE UNABLE TO MAINTAIN STABLE HOUSING DUE TO ECONOMIC OR OTHER HARDSHIPS. AS PART OF OUR SIGNATURE APPROACH, WE PROVIDE ALL TENANTS WITH ACCESS TO SUPPORTIVE PROGRAMS AND SERVICES SUCH AS FOOD, QUALITY CHILDCARE, JOB SKILLS TRAINING, AND CASE MANAGEMENT TO BUILD FAMILY RESILIENCY AND OPPORTUNITY. THROUGH THESE PROGRAMS WE OFFER STABILITY, EMPOWERMENT, AND HOPE FOR NORTHERN VIRGINIA'S MOST VULNERABLE NEIGHBORS. 1 0 1072373 1035891 SERVICE-ENRICHED AFFORDABLE RENTAL HOUSING: CORNERSTONES HOUSING CORPORATION (CHC) CURRENTLY MANAGES 104 AFFORDABLE SCATTERED-SITE RENTAL HOMES AND APARTMENTS, SERVING EXTREMELY LOW AND LOW-INCOME HOUSEHOLDS, INCLUDING LOW-INCOME SENIORS AND THOSE TRANSITIONING OUT OF HOMELESSNESS. THE SCATTERED-SITE RENTAL PROGRAM COMPRISES 56 TOWNHOMES AND CONDOMINIUMS IN RESTON, HERNDON, AND CENTREVILLE, RENTED TO INDIVIDUALS AND FAMILIES QUALIFYING FOR HOUSING SUBSIDIES OR RECEIVING DISCOUNTED RENT FROM CORNERSTONES/CHC. THE APARTMENTS AT NORTH POINT, A 48-UNIT TAX CREDIT DEVELOPMENT IN RESTON, VIRGINIA, OFFERS AFFORDABLE RENTS TO HOUSEHOLDS EARNING BETWEEN 30-60% OF THE AREA MEDIAN INCOME THROUGH RIHC PARTNERS, LP. MANY RESIDENTS WERE PREVIOUSLY HOMELESS OR AT RISK, FACING LIMITED OPTIONS FOR HOUSING IN THIS HIGH-COST REGION.OUR HOUSING IS SUPPORTED BY CORNERSTONES' SUPPORTIVE HOUSING CASE MANAGERS, WHO PLAY A VITAL ROLE IN SUPPORTING VULNERABLE POPULATIONS BY OFFERING COUNSELING, GUIDANCE, AND ADVOCACY. THEY FOCUS ON THE EMOTIONAL HEALTH AND PHYSICAL WELL-BEING OF CHILDREN, FAMILIES, AND OTHER VULNERABLE GROUPS, PROVIDING THEM WITH COUNSELING, COPING SKILLS, AND ADVOCACY SERVICES. THESE PROFESSIONALS POSSESS STRONG PROBLEM-SOLVING ABILITIES, ENABLING THEM TO IDENTIFY AND ADDRESS BARRIERS TO STABLE HOUSING WHILE CONNECTING PEOPLE TO SERVICES THAT SUPPORT HOUSING STABILITY. THEY OFTEN MANAGE LARGE CASELOADS, DEVELOPING AND IMPLEMENTING CARE PLANS TAILORED TO THE NEEDS OF PARTICIPANTS AND THEIR FAMILIES. CORNERSTONES SUCCESS STEMS FROM OUR COMPREHENSIVE RANGE OF PROGRAMS AND WRAP-AROUND SERVICES, WHICH ADDRESS URGENT OR ONGOING NEEDS SUCH AS HOUSING, FOOD, CHILDCARE, OR FINANCIAL ASSISTANCE, ALL AIMED AT FOSTERING HEALTHY CHILDREN, YOUTH, AND FAMILIES, SECURING AFFORDABLE HOUSING, AND PROMOTING FINANCIAL INDEPENDENCE. 1072373 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 7 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 9 8 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 0 0 X X X KERRIE B WILSON CEO CORNERSTONES INC 5713239555 11150 SUNSET HILLS RD STE 210 RESTON VA 20190 CHERYL SIMPKINS CHAIR 1.00 X X 0 0 0 CHRISTY ZEITZ VICE CHAIR 1.00 X X 0 0 0 FRAN STEINBAUER TREASURER 1.00 X X 0 0 0 KERRIE B WILSON SECRETARY 20.00 30.00 X X 0 177893 8239 JOHN D THOMAS IMMEDIATE PAST CHAIR 1.00 X 0 0 0 ESTHER B JOHNSON DIRECTOR 1.00 X 0 0 0 ROBERT GOUDIE DIRECTOR 1.00 X 0 0 0 KEVIN SCHAAR DIRECTOR 1.00 X 0 0 0 CASEY VEATCH DIRECTOR 1.00 X 0 0 0 0 177893 8239 0 0 1 0 0 1189 1189 TENANT FEES 531110 1035891 1035891 1035891 30573 30573 1067653 1035891 0 30573 346800 346800 839 839 4624 4624 10714 10714 174083 174083 26632 26632 338166 338166 28508 28508 REPAIRS 431761 431761 MISCELLANEOUS 56393 41217 15176 BAD DEBT 14747 14747 TELECOMMUNICATIONS 1082 1082 1434349 1072373 361976 0 745344 177828 500193 803112 12784 35028 184399 184399 10269 12938 13062703 4569588 8540608 8493115 41000 41000 343830 280971 10378427 10028391 125230 61386 2620 5946 8841050 8817975 264369 364622 9233269 9249929 X 1145158 778462 1145158 778462 10378427 10028391 -366696 0 X X 0 1 X 1 0 X 26948 12502 1189 40639 1029503 1030279 1069449 1049262 1035891 5214384 1056451 1042781 1069449 1049262 1037080 5255023 0 0 0 5255023 18157 15104 11610 11557 30573 87001 18157 15104 11610 11557 30573 87001 34 86 281931 13773 295824 1074642 1057971 1362990 1074592 1067653 5637848 0.93210 0.93510 0.01540 0.01250 X 2725940 2725940 10026450 4413884 5612566 199217 155704 43513 111096 111096 8493115 SECURITY DEPOSITS - TENANTS 48000 DUE TO RELATED PARTY 316622 364622 X PART X, LINE 2: CHC IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, EXCEPT FOR ANY UNRELATED BUSINESS INCOME TAXES. RIHC PARTNERS LP IS A LIMITED PARTNERSHIP THAT PASSES ITS NET EARNINGS OR LOSSES TO ITS PARTNERS. RIHC PARTNERS LP'S RENTAL INCOME ACTIVITY TO LOW-INCOME INDIVIDUALS IS DIRECTLY RELATED TO THE ORGANIZATION'S EXEMPT PURPOSE; THEREFORE, THE INCOME IS EXEMPT FROM UNRELATED BUSINESS INCOME TAX. THEREFORE, NO PROVISION FOR INCOME TAXES HAS BEEN PROVIDED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE ORGANIZATION HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF JUNE 30, 2023. 0 0 0 0 0 0 0 0 0 KERRIE B WILSON SECRETARY 0 177893 0 0 0 0 0 7242 0 997 0 186132 0 0 FORM 990, PART III, LINE 2 QUALITY, AFFORDABLE RENTAL HOUSING AND SERVICES: AS A LEADER IN HELPING TO ADVANCE AFFORDABLE HOUSING DEVELOPMENT IN THE REGION, CORNERSTONES HOUSING CORPORATION CURRENTLY OWN AND MANAGES 104 AFFORDABLE SCATTERED-SITE RENTAL HOMES AND APARTMENTS. IN FY23 WE SERVED 305 PROGRAM PARTICIPANTS WERE SERVED, REPRESENTING 104 HOUSEHOLDS. SIXTY-NINE HOUSEHOLDS LIVING IN OUR AFFORDABLE RENTAL UNITS RECEIVED CARE MANAGEMENT SUPPORT AND SERVICES. DURING THIS FISCAL YEAR, CHC NOT ONLY CONTINUED TO PROVIDE CONSISTENT WRAP-AROUND PROGRAMS AND SERVICES, BUT ALSO ENTERED INTO VARIOUS AGREEMENTS AIMED AT EXPANDING AFFORDABLE HOUSING OPTIONS IN NORTHERN VIRGINIA. NEW HOUSING DEVELOPMENT: NORTHERN VIRGINIA IS ONE OF THE MOST EXPENSIVE HOUSING MARKETS IN THE UNITED STATES. ADDRESSING UNMET HOUSING NEEDS HAS BEEN PART OF CORNERSTONES' MISSION SINCE 1970. IN ADDITION TO ITS EXISTING STOCK OF AFFORDABLE HOMES, WE HAVE 213 UNITS IN VARIOUS STAGES OF DEVELOPMENT. DURING FY23, CORNERSTONES HOUSING CORPORATION BEGAN COMMUNITY OUTREACH AND ENGAGEMENT AS PART OF THE ZONING APPROVAL PROCESS FOR A 33-UNIT PERMANENT SUPPORTIVE HOUSING PROJECT IN FAIRFAX, VA. CONSTRUCTION IS SET TO BEGIN ON A 180-UNIT PROJECT IN LEESBURG, VA IN EARLY 2025. FORM 990, PART VI, SECTION B, LINE 11B THE EXEMPT ORGANIZATION'S (EO'S) FINANCE AND AUDIT COMMITTEE REVIEWS THE FINANCIAL STATEMENTS AND DRAFT TAX RETURN IN ADVANCE OF FILING. MANAGEMENT WILL ANSWER ALL QUESTIONS AND PROVIDE SUPPORTING DOCUMENTATION AS REQUESTED. THE BOARD OF DIRECTORS WILL RECEIVE A COPY OF THE DRAFT TAX RETURN PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C BOARD OF DIRECTORS AND EMPLOYEES ARE REQUIRED TO ABIDE BY THE AGENCY'S CONFLICT OF INTEREST POLICY. BOARD MEMBERS REFRAIN FROM VOTING WHERE THERE IS A PERCEIVED OR ACTUAL CONFLICT OF INTEREST. BOARD MEMBERS ARE REQUIRED TO REPORT CONFLICTS OF INTEREST WHEN ISSUES ARE BEFORE THE BOARD. CEO REVIEWS THE CONFLICT STATEMENTS REGULARLY. FORM 990, PART VI, SECTION B, LINE 15A ON A CONSISTENT BASIS, THE CHAIRPERSON OF THE BOARD APPOINTS A TASK FORCE OR MEMBERS OF THE BOARD TO FACILITATE THE CEO PERFORMANCE REVIEW. IF PERFORMANCE OR MARKET CONDITIONS WARRANT A CHANGE IN COMPENSATION, THE CHAIRPERSON OR DESIGNEE WORKS WITH HUMAN RESOURCES TO GATHER INFORMATION TO GUIDE THE DECISION. INFORMATION USED INCLUDES MARKET-BASED COMPENSATION SURVEY DATA FOR THE REGION AND, WHEN AVAILABLE, INFORMATION FROM NONPROFITS OF COMPARABLE SIZE AND COMPLEXITY. UPON COMPLETION OF THE EVALUATION, THE CHAIRPERSON OR DESIGNEE PRESENTS A REPORT ON PERFORMANCE AND COMPENSATION TO THE BOARD OF DIRECTORS. THE MEETING MAY BE HELD IN EXECUTIVE SESSION. IF APPROVED BY A SIMPLE MAJORITY OF THE BOARD MEMBERS PRESENT, THE BOARD CHAIR COMPLETES A PERSONNEL ACTION FORM WHICH IS THE FORMAL RECORD OF THE ACTION. THE EXECUTIVE COMMITTEE WILL OVERSEE A COMPARISON OF COMPENSATION AWARDED AND REPORTED ON THE AGENCY'S 990 FORM ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION C, LINE 19 EO MAKES AVAILABLE TO THE PUBLIC ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND TAX RETURN UPON REQUEST. EO'S TAX RETURN IS ALSO AVAILABLE AT WWW.GUIDESTAR.ORG. FORM 990, PART XII, LINE 2C: THE FINANCE AND AUDIT COMMITTEE OF THE BOARD MEETS REGULARLY TO REVIEW FINANCIAL OPERATIONS OF THE EO, COMMISSIONS THE ANNUAL AUDIT BY AN INDEPENDENT AUDIT FIRM, AND OVERSEES THE PRESENTATION OF THE AUDIT TO THE BOARD OF DIRECTORS. CORNERSTONES INC 11150 SUNSET HILLS RD STE 210 RESTON VA 20190 541037615 SOCIAL/HUMAN SERVICES VA 501(C)(3) LINE 7 N/A 0 RIHC PARTNERS LP 11150 SUNSET HILLS ROAD SUITE 210 RESTON VA 201905360 311459170 PROVIDES AFFORDABLE HOUSING VA CORNERSTONES HOUSING CORPORATION RELATED 76 1611529 0 1 0.01000 1 0 0 1 1 0 0 0 0 0 0 0 1 0 0 1 0 0 0