Four thousand District residents with mental illnesses lack long-term housing. Many are veterans who are also physically disabled or struggling with substance abuse, and with an annual income of less than $7,000, they have only $200-$300 for rent each month – far below local market rates. So for the past 25 years, Cornerstone has worked to purchase, renovate and improve housing, turning it from an impossibility to a reality. Created as a "gap funder," it provides low-interest loans and recoverable grants to property owners who dedicate housing to individuals with serious mental illnesses. Funds for pre-development and construction are typically hardest to attain through traditional banks, so when the final product will benefit those most in need, Cornerstone will step in to make up the difference. Cornerstone also steps up to help low-income residents handle the unexpected: to repair homes damaged during brutal winter storms or provide a record number of air conditioners when the thermometer really heats up. The cornerstone is laid: your generosity ensures that the building goes on.
Headquarters: DC-Ward 2
Where They Operate: DC-Citywide
Age Groups Served: Not age related
Ethnic Groups Served: African American, 85%; Asian American, 5%; Caucasian, 5%; Latino/Hispanic, 5%
Population(s) Served: Low- to Moderate-Income
Combined Federal Campaign Number: 61754
United Way Agency Number: 9387
Awards & Recognition
THC DC Community Leadership Award, May 2014
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Catalogue charities range in size from $100,000 to
- $3 million or higher
- $1 million to $3 million
- $500k to $1 million
- The current budget for Cornerstone is: Less than $500k
About the Catalogue for Philanthropy
The Catalogue selected us as one of its featured charities! Each year 120 expert reviewers evaluate applicants for distinction, merit, and impact. Each featured charity has been successfully site visited and its financials given the thumbs up. The Catalogue for Philanthropy charges no fees and raises funds separately to support its work. Since 2003, it has raised over $30 million for charities across Greater Washington.
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