Cornerstone Child Development Center Inc
- Assets
- $3.5m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 58
- Location
- Louisville, KY
- Founding
- 08/2005
- Data as of
- 06/2024
- EIN
- 61-1474064
Organization Overview
Cornerstone Child Development Center Inc is located in Louisville, KY. The organization was established in 2005. According to its NTEE Classification (B21) the organization is classified as: Preschools, under the broad grouping of Education and related organizations. As of 06/2024, Cornerstone Child Development Center Inc employed 58 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cornerstone Child Development Center 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 06/2024, Cornerstone Child Development Center Inc generated $2.4m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 6.3% each year. All expenses for the organization totaled $2.2m during the year ending 06/2024. While expenses have increased by 5.4% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE YOUNG CHILDREN AGES 6 WEEKS THROUGH 5 YEARS OLD WITH DEVELOPMENT AND EDUCATIONAL ACTIVITIES AND LEARNING EXPERIENCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED CHILDREN WITH DEVELOPMENTAL AND EDUCATIONAL ACTIVITIES AND LEARNING EXPERIENCES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Erin Quinn Director | Trustee | 0 | $0 |
Natalie Miller Director | Trustee | 0 | $0 |
Jenna Tautau Director | Trustee | 0 | $0 |
Will Fensterer Director | Trustee | 0 | $0 |
Dana Baldwin Director | Trustee | 0 | $0 |
Claire Samuel Director | Trustee | 0 | $0 |
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 | $263,602 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $263,602 |
| Total Program Service Revenue | $2,080,420 |
| Investment income | $2,750 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $5,185 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,351,957 |
| 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. | $204,683 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,254,699 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $86,962 |
| Payroll taxes | $112,085 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,888 |
| Fees for services: Accounting | $1,755 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $622 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $234,349 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $26,460 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,816 |
| Insurance | $18,013 |
| All other expenses | $4,350 |
| Total functional expenses | $2,226,055 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,362,750 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $32,642 |
| 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 | $1,336 |
| Net Land, buildings, and equipment | $135,799 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,960,134 |
| Total assets | $3,492,661 |
| Accounts payable and accrued expenses | $25,156 |
| 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 | $500,000 |
| Other liabilities | $1,962,094 |
| Total liabilities | $2,487,250 |
| Net assets without donor restrictions | $0 |
| 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 | $1,005,411 |
| Total liabilities and net assets/fund balances | $3,492,661 |