Cornerstone Fund Helps Break Ground on New Housing Center
Jubilee Housing and King Emmanuel Baptist Church
In March, Cornerstone Fund President and CEO Maria Coyne attended the ground-breaking of the Jubilee Housing’s King Emmanuel Baptist (KEB) Project in Washington, DC. The Cornerstone Fund is thrilled to be one of the lenders, which is a redevelopment of a historic Black church, King Emmanuel Baptist, into 18 units of housing for justice involved individuals (people returning home from incarceration).
“Taking this historic church property and transforming it into something in service to the community really brings our mission to life,” said Coyne at the event. “We are so grateful to be a part of this effort, we are excited about the impact on the community and really appreciate all the parties involved.”
Jubilee Housing leadership feels the same way about working with the Cornerstone Fund.
“From the moment we met with Cornerstone, we recognized a shared sense of mission, values, and a deep commitment to preserving community,” said Jim Knight, President and CEO of Jubilee Housing.
“We were genuinely excited to get to know them and learn more about the important work they’re doing. When one of our original lenders withdrew from the KEB project, Maria and her team stepped in without hesitation—finding a way forward and ultimately serving as the lender for both the construction and permanent phases. That’s what Cornerstone does: they help finance the development of churches, and they do it with compassion, sincerity, and reliability—which I deeply admire. I’m grateful to know Cornerstone and honored to call them a partner in bringing KEB to life.”
The KEB project is adjacent to another Jubilee Housing development, Ontario Place, that is also intended to house justice involved people as well as provide housing for residents with low incomes. Ontario Place will have solar panels and include an aquaponics farm that will produce food for residents and to sale.
According to Jubilee Housing, “Ontario Place will be DC’s first aquaponics farm tied to affordable housing and workforce development. The farm is expected to produce approximately 13,000 crops per month, with a portion of the fresh produce used in the KEB community kitchen, which will serve Jubilee residents.”
Jubilee has been working in the Adams Morgan, Columbia Heights, and Mount Pleasant neighborhoods for over 50 years, with a current portfolio comprising 13 housing projects serving 1,000 plus people. The organization is steadily growing and has several projects in stages from predevelopment to construction.
Photos and artist rendering images courtesy of Jubilee Housing.
Cornerstone Fund Announces Betsey Saffar as New Vice President and Chief Financial Officer
Cleveland, Ohio (October 13, 2023) – Cornerstone Fund is pleased to announce Betsey Saffar as its new Vice President and Chief Financial Officer, effective September 18, 2023. In this Executive Leadership team role, Saffar will lead the Finance and Accounting team, prepare the Fund’s annual Offering Circular, and interact with the Board of Directors regarding the Budget and fiscal matters.
“I could not be more thrilled to have someone of Betsey’s professional caliber and personal compassions join and help lead our team,” Cornerstone Fund President and CEO Maria Coyne said of Saffar.
Saffar brings extensive non-profit and private-sector financial experience and an entrepreneurial spirit to Cornerstone Fund. She previously served as Chief Financial Officer and Executive Vice President of Achievement Centers for Children, a Cleveland, Ohio based non-profit that provides an array of services to children and adults with disabilities. Prior to that, Saffar was an accountant at Ernst & Young and also ran her own catering company.
“I’m thrilled for this opportunity put my financial expertise towards advancing Cornerstone Fund’s mission,” Saffar said. “I’m excited to be a part of a faith-based team that’s committed to investing in and building community.”
After earning a Bachelors Degree from The Ohio State University, Saffar studied Accounting at the Masters level at Cleveland State University and earned an MBA in Applied Management from Indiana Wesleyan University
About Cornerstone Fund
Founded in 1993, the United Church of Christ Cornerstone Fund (Cornerstone Fund) is a 501(c)3 non-profit organization and leading financial organization that provides transformative financial solutions to support and empower faith-based communities. Through strategic, financial investments and partnerships, Cornerstone Fund helps churches and faith-based non-profits achieve their financial goals while fostering community development and economic justice.
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Cornerstone Fund Announces Appointment of Chief Relationship Officer, Rev. Dr. Courtney Stange-Tregear
Cleveland, Ohio (June 6, 2023) – Cornerstone Fund is pleased to announce the appointment of Rev. Dr. Courtney Stange-Tregear as its Chief Relationship Officer, effective May 16, 2023. In this newly created role, Dr. Stange-Tregear will report directly to Maria Coyne, President & CEO, Cornerstone Fund, and will become an integral part of the executive leadership team.
With a wealth of experience and a deep understanding of Cornerstone Fund’s mission, Rev. Dr. Stange-Tregear will lead a relational approach in accomplishing current and future strategic goals. Her responsibilities will include utilizing storytelling, partnership, and community organizing methodologies to nurture relationships with internal and external collaborators of the Cornerstone Fund.
Rev. Dr. Stange-Tregear has been an esteemed member of Cornerstone Fund’s Board of Directors since 2019 and most recently served as Chair of the Governance Committee. Stepping down from the Board to assume her new role, she brings valuable insights and knowledge from her tenure.
Expressing her enthusiasm, Rev. Dr. Stange-Tregear stated, “Having served as a Board Member for several years, I am dedicated to the mission, vision, and ministry of the Cornerstone Fund. ‘Joining together in faith to invest in and build community’ is central to my calling! I have seen with my own eyes the potential of economic justice to transform the world and build beloved community. The Cornerstone Fund is where faith and passion meet strategy and impact.”
Prior to joining Cornerstone Fund, Rev. Dr. Stange-Tregear served as the Acting Conference Minister for the Pacific Northwest Conference of the United Church of Christ. Her experience also includes serving as the Minister for Church Vitality in the same conference from 2016 to 2022, as well as holding pastoral positions in California, Maryland, and Massachusetts.
About Cornerstone Fund
Founded in 1993, the United Church of Christ Cornerstone Fund (Cornerstone Fund) is a 501(c)3 non-profit organization and leading financial organization that provides transformative financial solutions to support and empower faith-based communities. Through strategic, financial investments and partnerships, Cornerstone Fund helps churches and faith-based non-profits achieve their financial goals while fostering community development and economic justice.
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