Cornerstone Corporation Annual2021Report
As we enter into the next era of Cornerstone CDC’s work, we will affirm the worthiness of each home in the West End/Visitation Park. Essential to becoming an anchor institution with that kind of reach is building our foundational operational capacity. Simply, we need the right things in place to meet the need.
do happen. Sometimes they happen in dramatic ways, and other times in ways that are more subtle, but one thing is clear: the hand of God is revealed. For over 45 years, Cornerstone Corporation has had the simple, beautiful purpose of providing affordable housing to residents in need. Offering deeply discounted homes for the working poor isn’t typically celebrated as a great business model. But, each year with your support and prayers, we have miraculously continued to serve those who are often forgotten in the rental market.
MiraclesFriends,
In 2021, we returned to our model of internal property management, aligning our systems with a digital platform to streamline maintenance requests and accounting systems for residents and the organization. We successfully raised $100,446 in our one-day giving campaign and were able to secure an additional three-year capacity-building grant from Invest STL. We also supported the re-launch of the resident-led neighborhood planning effort as the administrative partner.
Message From Executive Director
Monique omas Executive Director, Cornerstone Corporation
Today, we operate as a Christian Community Development Corporation serving the historic West End and Visitation Park neighborhoods. At each point of our history, we have committed to loving the whole person by championing choice and dignity, but this season feels as though we are deepening that impact.
I am pleased with what we have accomplished in my first year
Growth can only go so far as the roots that ground it.
Cornerstone Corporation is a Christian Community Development Corporation that provides an equitable opportunity for quality, affordable housing to those who would not otherwise have it; empowers constituents to grow their capacity to achieve their life goals with dignity; and collaborates with others for community driven development of the West End neighborhood.
When home is good, healing can start.
Organizational Updates in 2021
2021 RESIDENT PROFILE
Supporting Cornerstone translates into an investment in the lives of families hurt by disinvestment and racism, one brick at a time, and rebuilding lives one family at a time. Our 77 residents had access to rent relief, life coaching, financial education, social support as a part of their Cornerstone CDC rental experience.
MISSION
A safe home supports a healthy future. An a ordable home supports a nancially secure future. When neither exist, families and neighborhoods collapse. When neighborhoods collapse, an entire community is impacted. Cornerstone Corporation invests in and maintains a ordable, spacious homes.
Cornerstone will assist 50 residents with high-quality affordable housing.
BY ASSISTINGRESIDENTS
HOW?
HOW?
BY BEING PLACE-BASED IN THE WEST END
Cornerstone will provide community support by being a Community Development Corp resource for the West End.
By 2030, Cornerstone will annually provide housing for 50 families and impact 1,500 residents in the West End through economic empowerment initiatives.
HOW? BY BEING A RESOURCE
Within the 10 years,Cornerstone will have an office that can act as a gathering space for West End.
WHEN?
HOW? BY EMPOWERING RESIDENTS
Cornerstone will impact 1,500 (20%) of West End residents through economic empowerment.
Operating Principles
To
shape the direction of our work we continue to honor the spirit of the organization through our newly confirmed operating principles. Our principles along with each pillar and operation define our approach to programs, evaluations, and our culture. Pillars Earn Trust Learning ForwardElevate through Dignity Scriptures Proverbs 10:9; 1 Peter 3:16-18 Proverbs 15:33 Isaiah 59:19 Principles INTEGRITY: Cornerstone strives to operate with a clear conscience HUMILITY: Cornerstone strives to operate with honor FAITH: Cornerstone strives to operate as a standard-bearer Operations Respond with Courage and Care BeClearandKind Act TransparencyHonestywithand Admits Faults with Ease Get Rightit PatientBe See the Best in People Expect the Best of People Give the Best of Professionalism)Ourselves(Market
2021 Financials
Cornerstone CDC is committed to transparency as one of our core operating principles. In 2021, our total revenue was $915,863 and our expens es were $524,791, resulting in net operating revenue of $391,072. A majority of our revenue came from donations and grants as opposed to rental income while most of our expenses went to asset management, or property maintenance.
2021 Board of Directors
Cornerstone CDC is governed by a committed group of faith-led directors who invest their time, talents, and treasures into the organization. In 2020, the Board launched our 2030 Impact initiative, redefining the standard and quality of our program. We are also proud to say that we had 100 percent board contribution to our fundraising efforts as they led Cornerstone CDC.
First row: left to right: Jeremy Moore (Chair), Gail Montgomery-Edwards, Lisa Potts; Middle row: left to right: Jon Easterling (on sabbatical), Lisette Ortega-Vidal, Paul Savage. Last row: left to right: Treena Thompson, Cynthia Williams, Nakischa Joseph
Actual Cornerstone CDC Apartment
(314) 726-2273 I cornerstonestl.org