Elizabeth Kulas Perpetual Legacy Fund
Fund Parameters
- To be held in a distinct account.
- To be used during the development period for real estate deposits, engineering, environmental studies and testing, architectural plans and specifications, permitting applications and fees, and legal consulting.
- To be repaid at project closing.
- Not to be used for HTRC operating expenses.
Ways of Giving
Cornerstone Housing Partners is an IRS-recognized 501(c)(3) non-profit organization, all donations are tax deductible. Pledges to the Elisabeth Kulas Legacy Fund can be fulfilled over one to three years. Payments can be made by check or credit card. Gifts of appreciated securities are also accepted.
The Elisabeth Kulas Legacy Fund
Honoring a Visionary Leader, Fueling Future Progress
At the close of 2020, Elisabeth Kulas retired after 27 years as Executive Director of what is now known as Cornerstone Housing Partners. Guided by her unwavering belief that access to affordable housing is fundamental to a community’s health, stability, and well-being, Elisabeth built a legacy of transformative leadership.
Over three decades, the organization has strengthened neighborhoods and expanded opportunity through the construction and rehabilitation of affordable housing. Today, nearly 800 individuals—families, seniors, young adults, formerly homeless individuals, and people with disabilities—live in homes made possible through Cornerstone’s work.
Throughout its history, the organization has delivered creative, community-driven solutions to complex development challenges—from converting former schools and restoring historic buildings to partnering with healthcare providers and nonprofits to serve our most vulnerable neighbors.
To honor Elisabeth’s enduring impact, the board and friends of the organization established the Elisabeth Kulas Legacy Fund—a self-renewing source of capital that enables Cornerstone to act quickly on time-sensitive, high-impact opportunities before full project funding is secured.
When a promising real estate opportunity arises, Cornerstone conducts an intensive feasibility review over several months. Even when a project is deemed viable and early funding is committed, it often takes 12–16 months to secure the full public and private financing required. During this period, the organization must invest in environmental assessments, permitting, legal reviews, and architectural plans—costs that can range from $250,000 to $500,000 per project.
Historically, Cornerstone has managed these upfront expenses through borrowing, phased work, or delaying key steps—strategies that slow momentum and increase risk. The Elisabeth Kulas Legacy Fund addresses this gap by providing interim funding to cover critical pre-development costs. Once a project reaches closing and permanent financing is secured, the fund is replenished—ensuring that it can support future projects again and again.
Your support of the Elisabeth Kulas Legacy Fund helps carry forward a powerful vision: that everyone deserves a place to call home.
Questions?
Contact Penny Inglee at 802-775-3139 ext. 218 or email pinglee@cornerstonehousingpartners.org
