Cornerstone Academy Community School
- Assets
- $16.9m
- Revenue
- $10.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Westerville, OH
- Founding
- 09/2000
- Data as of
- 06/2021
- EIN
- 31-1707162
Organization Overview
Cornerstone Academy Community School is located in Westerville, OH. The organization was established in 2000. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cornerstone Academy Community School 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 06/2021, Cornerstone Academy Community School generated $10.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.6% each year. All expenses for the organization totaled $9.2m during the year ending 06/2021. While expenses have increased by 9.9% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE OPPORTUNITIES FOR EDUCATIONAL CHOICE TO STUDENTS AND FAMILIES OF THIS COMMUNITY. THE ORGANIZATION IS PRIMARILY ENGAGED IN PROVIDING INSTRUCTIONAL SERVICES TO ENROLLED STUDENTS IN GRADES K-8.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTIONAL SERVICES FOR 686.1 FTES IN GRADES K-8 FOR THE 2020-2021 SCHOOL YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Roy Holcombe Board Member | Trustee | 1 | $0 |
Pat Cusick Board President | Trustee | 2 | $0 |
Dominique Black Board Member | Trustee | 1 | $0 |
Jonathan Downes Board Member | Trustee | 1 | $0 |
Pete Shears Board Member | Trustee | 1 | $0 |
Shiva Scotti Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Accel Schools Inc Managment Services And Facility Rent | 6/29/21 | $1,456,804 |
St Aloysius Orphanage Sponsor Fees | 6/29/21 | $197,058 |
Quest Community Church Rent | 6/29/21 | $104,278 |
Arlenes Cuisine Food Services | 6/29/21 | $183,658 |
Serenity Behavioral Services Psychological Services | 6/29/21 | $268,773 |
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 | $10,436,135 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,436,135 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $10,436,135 |
| 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 | $3,359,250 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,606,467 |
| Payroll taxes | $0 |
| Fees for services: Management | $962,543 |
| Fees for services: Legal | $7,412 |
| Fees for services: Accounting | $11,244 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,052,806 |
| Advertising and promotion | $17,123 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $453,038 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $587,839 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $340,287 |
| Insurance | $40,845 |
| All other expenses | $95,080 |
| Total functional expenses | $9,211,399 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,348,466 |
| Savings and temporary cash investments | $800,648 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,384,678 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $816,400 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $162,492 |
| Net Land, buildings, and equipment | $6,531,738 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,885,213 |
| Total assets | $16,929,635 |
| Accounts payable and accrued expenses | $880,037 |
| 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 | $9,868,711 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,836,464 |
| Total liabilities | $17,585,212 |
| Net assets without donor restrictions | -$655,577 |
| Net assets with donor restrictions | $0 |
| 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 | $16,929,635 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Cornerstone Academy Community School has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Goldman Sachs Philanthropy Fund New York, NY PURPOSE: EDUCATION | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lancaster Country Day School Lancaster, PA | $75,848,302 | $20,350,115 |
Hillel Day School Of Metropolitan Detroit Farmington Hills, MI | $33,929,140 | $16,693,073 |
Freire Charter School Philadelphia, PA | $7,896,247 | $17,871,218 |
Academy In Manayunk Inc Conshohocken, PA | $64,687,092 | $23,625,839 |
Heritage Christian Schools Inc Indianapolis, IN | $19,759,630 | $19,173,955 |
Lake Ridge Academy North Ridgeville, OH | $14,038,501 | $14,431,885 |
Philadelphia School Philadelphia, PA | $27,222,839 | $15,221,018 |
Orchard School Foundation Inc Indianapolis, IN | $60,553,415 | $15,394,463 |
Oaks Academy Inc Indianapolis, IN | $7,476,421 | $17,454,996 |
Raymond And Ruth Perelman Jewish Day School Wynnewood, PA | $42,118,135 | $13,050,794 |
Ellis School Pittsburgh, PA | $55,012,281 | $13,657,807 |
Yeshiva Derech Hatorah Cleveland Heights, OH | $14,161,211 | $18,658,686 |