Cornerstone Charter Academy Inc
- Assets
- $25.4m
- Revenue
- $15.1m
- Investments
- $0.0
- Employees
- 199
- Location
- Miami, FL
- Founding
- 09/2011
- Data as of
- 06/2022
- EIN
- 27-2154495
Organization Overview
Cornerstone Charter Academy Inc is located in Miami, FL. The organization was established in 2011. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2022, Cornerstone Charter Academy Inc employed 199 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cornerstone Charter Academy Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Cornerstone Charter Academy Inc generated $15.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $14.5m during the year ending 06/2022. While expenses have increased by 6.5% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE A COLLEGE PREPARATORY EDUCATIONAL ENVIRONMENT WITH A CURRICULAR EMPHASIS ON BIOTECHNOLOGY AND LIFE SCIENCES THAT FURTHERS THE PHILOSOPHY OF RESPECT AND HIGH EXPECTATIONS FOR ALL, ENABLING STUDENTS TO BECOME CONFIDENT, SELF-DIRECTED, AND RESPONSIBLE LIFE-LONG LEARNERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CITY OF BELLE ISLE CHARTER SCHOOL INC PROVIDES EDUCATION FOR CHILDREN FROM KINDERGARTEN THROUGH TWELFTH GRADE FOR THE FISCAL YEAR ENDED JUNE 30, 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William G Brooks Director, Board Chair | OfficerTrustee | 2 | $0 |
Dr Keith Van Dyke Director, Vice Chair | OfficerTrustee | 2 | $0 |
Charlyne Cross Director, Secretary | OfficerTrustee | 2 | $0 |
Daniel Springen Treasurer | OfficerTrustee | 2 | $0 |
Dr Sharon Vyas Director | Trustee | 2 | $0 |
Marc Ady Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Academica Dade Llc Educational Service Support Provider | 6/29/22 | $722,775 |
It Savvy Llc Technology Software/hardware Provider | 6/29/22 | $642,047 |
City Of Belle Isle Landlord/rent | 6/29/22 | $694,889 |
The Nidy Sports Construction Co Construction | 6/29/22 | $586,500 |
Field Turf Usa Inc Construction | 6/29/22 | $526,535 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $13,397,672 |
| Investment income | $4,292 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,088,339 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,339,778 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,549,532 |
| Payroll taxes | $662,625 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $968,369 |
| Advertising and promotion | $0 |
| Office expenses | $848,667 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,354,372 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $61,510 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $563,534 |
| Insurance | $129,548 |
| All other expenses | $0 |
| Total functional expenses | $14,488,929 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $575,123 |
| Savings and temporary cash investments | $8,917,379 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,466 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $63,055 |
| Net Land, buildings, and equipment | $2,275,599 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,553,547 |
| Total assets | $25,399,169 |
| Accounts payable and accrued expenses | $822,754 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $958,912 |
| Other liabilities | $13,835,245 |
| Total liabilities | $15,616,911 |
| Net assets without donor restrictions | $9,574,334 |
| Net assets with donor restrictions | $207,924 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $25,399,169 |