2025-11-07T09:08:49-06:00 2024-12-31 341884125 CBIZ ADVISORS LLC 4722 N 24TH ST STE 300 PHOENIX AZ 85016 990 2024-01-01 842737310 CORNERSTONE HOUSING FOR ADULTS WITH DISABILITIES CORN 8189853882 13034 SATICOY ST NORTH HOLLYWOOD CA 91605 DR MICHAEL HELD EXECUTIVE DIRECTOR 8189853882 2025-11-05 1 1 KRISTEN M BASS P01247587 6022646835 2025-11-05 2024 2025-03-06 01:10:19Z X DR MICHAEL HELD 13034 SATICOY ST NORTH HOLLYWOOD CA 91605 691067 0 X WWW.THECORNERSTONEVILLAGE.ORG X 2019 CA TO PROVIDE ADULT LIVING FOR THOSE WHO HAVE INTELLECTUAL & DEVELOPMENTAL DISABILITIES. 7 7 0 7 0 0 5270854 388475 0 0 332186 243023 77569 59569 5680609 691067 0 0 0 0 0 0 0 0 440871 1062505 1553007 1062505 1553007 4618104 -861940 39084611 44558817 11507466 17843612 27577145 26715205 TO PROVIDE ADULT LIVING FOR THOSE WHO HAVE INTELLECTUAL & DEVELOPMENTAL DISABILITIES. CURRENTLY IN THE DEVELOPMENT STAGE OF DEVELOPING LIVING STRUCTURE. 0 0 602417 THE ORGANIZATION INTENDS TO DEVELOP AND OPERATE SUBSIDIZED HOUSING FOR PERSONS IN THE GREATER LOS ANGELES COMMUNITY WITH RECOGNIZED PHYSICAL OR MENTAL DISABILITIES OR DEVELOPMENTAL DISORDERS, WHO HAVE LIMITED FINANCIAL RESOURCES AND ARE DEPENDENT TO SOME EXTENT ON PUBLIC AND CHARITABLE ASSISTANCE. THE ORGANIZATION BEGAN A CAPITAL CAMPAIGN TO RAISE FUNDS TO DEVELOP A CENTER THAT INCLUDES MORE THAN 60 INDIVIDUAL APARTMENTS, PROGRAM, FITNESS, AND KITCHEN AND DINING AREAS, AS WELL AS LEASED RETAIL SPACE. DURING THE YEAR ENDED DECEMBER 31, 2020, THE ORGANIZATION ACQUIRED THE LAND AND BUILDING THAT WILL BE TRANSFORMED INTO THE CENTER. DURING FISCAL YEAR 2021, THE CONSTRUCTION PROJECT BEGAN TO TRANSFORM THE LOCATION INTO THE INTENDED COMMUNITY WHICH IS EXPECTED TO BE COMPLETED IN 2026. 602417 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 10 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 CA X DR MICHAEL HELD 8189853882 13034 SATICOY ST NORTH HOLLYWOOD CA 91605 X KAMBIZ BABAOFF PRESIDENT 1.00 X X 0 0 0 SCOTT KRIEGER SECRETARY 1.00 X X 0 0 0 JONATHAN M GLASER DIRECTOR 1.00 X 0 0 0 ERIC SCHWARTZ TREASURER 1.00 X X 0 0 0 STEVE SAVITSKY DIRECTOR 1.00 X 0 0 0 STEPHEN DARRISON DIRECTOR 1.00 X 0 0 0 AVI RYZMAN DIRECTOR 1.00 X 0 0 0 DR MICHAEL HELD EXECUTIVE DIRECTOR 30.00 X 0 0 0 0 0 0 0 0 0 0 TIKVA-ETTA & LAZEAR ISRAEL CTR FOR THE D 13034 SATICOY STREET NORTH HOLLYWOOD CA 91605 NON-PROFIT MANAGEMENT SERVICES 969546 URBAN ARCHITECTURE LAB 1657 ALVIRA STREET 2ND FLOOR LOS ANGELES CA 90035 ARCHITECTURAL DESIGN 244087 ILYA VEYTS INC 4240 FULTON AVENUE 110 STUDIO CITY CA 91604 PROPERTY MANAGEMENT SERVICES 182678 3 388475 388475 243023 243023 BAD DEBT RECOVERY 900099 58874 58874 OTHER INCOME 900099 695 695 59569 691067 0 0 302592 1306821 549290 317833 439698 66176 66176 78721 78721 32720 32720 5048 5048 198 198 3130 3130 52009 52009 5299 5299 1118 1118 MERCHANT FEES 1173 1173 OTHER EXPENSE 594 594 1553007 602417 509719 440871 194543 181574 8712887 4403459 5792507 3366127 96531 122820 1118 661 36432579 0 24187276 36432579 99749 51597 39084611 44558817 790683 1801600 9570939 14814467 1055582 1185435 90262 42110 11507466 17843612 X 19474994 21317230 8102151 5397975 27577145 26715205 39084611 44558817 -861940 0 X 0 1 X 1 0 X 9607890 3458465 12205195 5270854 388475 30930879 9607890 3458465 12205195 5270854 388475 30930879 5750000 1540000 1600000 5000000 0 13890000 0 5750000 1540000 1600000 5000000 0 13890000 17040879 10018 7857 35906 332186 243023 628990 20655 35628 0 56283 10018 7857 56561 367814 243023 685273 24563 59569 84132 9617908 3466322 12261756 5663231 691067 31700284 0.53760 0.53700 0.02160 0.01430 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: BAD DEBT RECOVERY - 2023 AMOUNT: $ 24,563. 2024 AMOUNT: $ 58,874. OTHER INCOME - 2024 AMOUNT: $ 695. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 11892743 11892743 24539836 24539836 36432579 OPERATING LEASE LIABILITY 42110 42110 X 632193 0 632193 58874 58874 691067 1494133 -58874 -58874 1553007 0 1553007 PART X, LINE 2: THE ORGANIZATION IS DESIGNATED AS TAX-EXEMPT UNDER INTERNAL REVENUE CODE SECTION 501(C)(3), IS EXEMPT FROM STATE FRANCHISE TAXES UNDER SECTION 23701(D) OF THE CALIFORNIA REVENUE AND TAXATION CODE, AND IS NOT GENERALLY SUBJECT TO FEDERAL OR STATE INCOME TAXES. HOWEVER, THE ORGANIZATION IS SUBJECT TO INCOME TAXES ON ANY NET INCOME THAT IS DERIVED FROM A TRADE OR BUSINESS REGULARLY CARRIED ON AND NOT IN FURTHERANCE OF THE PURPOSES FOR WHICH IT WAS GRANTED EXEMPTION. THE ORGANIZATION ADOPTED FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") ASC TOPIC NO. 740, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ("ASC 740"). IN ACCORDANCE WITH ASC 740, THE ORGANIZATION RECOGNIZES THE IMPACT OF TAX POSITIONS IN THE FINANCIAL STATEMENTS IF THAT POSITION IS MORE LIKELY THAN NOT OF BEING SUSTAINED ON AUDIT, BASED ON THE TECHNICAL MERITS OF THE POSITION. TO DATE, THE ORGANIZATION HAS NOT RECORDED ANY UNCERTAIN TAX POSITIONS. THE ORGANIZATION RECOGNIZES THE POTENTIAL ACCRUED INTEREST AND PENALTIES RELATED TO UNCERTAIN TAX POSITIONS IN INCOME TAX EXPENSE. THE ORGANIZATION IS SUBJECT TO POTENTIAL INCOME TAX AUDITS ON OPEN TAX YEARS BY ANY TAXING JURISDICTION IN WHICH IT OPERATES. THE STATUTE OF LIMITATIONS FOR FEDERAL PURPOSES IS THREE YEARS AND FOR CALIFORNIA IS FOUR YEARS. PART XI, LINE 4B - OTHER ADJUSTMENTS: BAD DEBT RECOVERY 58,874. PART XII, LINE 2D - OTHER ADJUSTMENTS: BAD DEBT RECOVERY -58,874. A CALIFORNIA ENTERPRISE DEVELOPMENT AUTHORITY 352273601 2023-04-14 35000000 CONSTRUCTION OF THE VILLAGE APARTMENT COMMUNITY FOR THOSE WITH DISABILITIES 0 0 0 A 35000000 5457047 9600000 0 1 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 1 0 0 0 1 A 1 SCHEDULE K, PART I IN APRIL 2023, THE ORGANIZATION ENTERED INTO A TAX-EXEMPT DELAYED DRAW LOAN AGREEMENT WITH A TOTAL LOAN COMMITMENT OF $35,000,000. THE CONSTRUCTION PERIOD ENDS JULY 31, 2025 AT WHICH TIME THE DELAYED DRAW PERIOD CLOSES AND THE LOAN AMORTIZATION SCHEDULE WILL BE DETERMINED. TOTAL DRAWS ON THE LOAN AMOUNTED TO $15,057,047, ALL OF WHICH IS OUTSTANDING AS OF DECEMBER 31, 2024. ENSEMBLE SERVICES LLC SEE PART V 94500 SEE PART V 0 SCH L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: (A) NAME OF PERSON: ENSEMBLE SERVICES, LLC(B) RELATIONSHIP BETWEEN INTERESTED PERSON(S) AND ORGANIZATION: KAMBIZ BABAOFF, BOARD PRESIDENT, HOLDS A GREATER THAN 35% OWNERSHIP INTEREST IN ENSEMBLE SERVICES, LLC.(C) DESCRIPTION OF TRANSACTION: ENSEMBLE SERVICES, LLC PROVIDED CONSTRUCTION ACCOUNTING SERVICES TO CORNERSTONE HOUSING FOR ADULTS WITH DISABILITIES IN 2024. FORM 990, PART VI, SECTION A, LINE 3 CORNERSTONE HOUSING FOR ADULTS WITH DISABILITIES ("CHAD") HAS A SHARED SERVICES AGREEMENT WITH TIKVAH-ETTA AND LAZEAR ISRAEL CENTER FOR THE DEVELOPMENTALLY DISABLED, AN UNRELATED CALIFORNIA NON-PROFIT CORPORATION DOING BUSINESS AS ETTA. THROUGH THE AGREEMENT ETTA AND ETTA'S EMPLOYEES MAY PROVIDE ADMINISTRATIVE SERVICES, INCLUDING, BUT NOT LIMITED TO, ACCOUNTING, FINANCIAL REPORTING, HUMAN RESOURCES, LEGAL, MEETING PLANNING, GOVERNMENT RELATIONS AND COMMUNICATIONS. IN ADDITION, ETTA'S EMPLOYEES MAY PROVIDE NON-PROFIT MANAGEMENT SERVICES, INCLUDING SUPPORT FOR ACTIVITIES OF THE BOARD OF DIRECTORS OF CORNERSTONE. UNDER THIS SHARED SERVICES AGREEMENT, CHAD REIMBURSED ETTA $292,984.86 FOR PAYROLL-RELATED EXPENSES ASSOCIATED WITH THE MANAGEMENT SERVICES PROVIDED BY DR. MICHAEL HELD IN HIS ROLE AS EXECUTIVE DIRECTOR FOR CHAD. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION'S FORM 990 IS REVIEWED BY THE BOARD TREASURER. ONCE ALL NECESSARY CHANGES ARE MADE A COPY IS GIVEN TO THE BOARD OF DIRECTORS PRIOR TO FILING THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C ALL DIRECTORS ARE REQUIRED TO COMPLY WITH CORNERSTONE HOUSING'S CONFLICT OF INTEREST POLICY. ANY CONFLICTS OF INTERESTS WILL BE ADDRESSED BY THE GOVERNING BODY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S ARTICLES OF INCORPORATION, BY-LAWS, AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST.