American Cornerstone Institute Inc
- Assets
- $2.4m
- Revenue
- $8.5m
- Investments
- $0.0
- Employees
- 10
- Location
- Washington, DC
- Founding
- Data as of
- 12/2022
- EIN
- 86-1545903
Organization Overview
American Cornerstone Institute Inc is located in Washington, DC. According to its NTEE Classification (B05) the organization is classified as: Research Institutes & Public Policy Analysis, under the broad grouping of Education and related organizations. As of 12/2022, American Cornerstone Institute Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American Cornerstone Institute 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 12/2022, American Cornerstone Institute Inc generated $8.5m in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 27.6% each year . All expenses for the organization totaled $9.0m during the year ending 12/2022. 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
THE ORGANIZATION DEVELOPS AND DISTRIBUTES EDUCATIONAL PROGRAMS AND MATERIALS PROMOTING CONSERVATIVE COMMONSENSE SOLUTIONS TO THE ISSUES FACING OUR SOCIETY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE DEVELOPMENT AND DISTRIBUTION OF CHILDREN'S EDUCATIONAL PROGRAMS WHICH INCLUDES BOOKS, CARTOONS AND WEB-BASED LEARNING MATERIALS. THE INSTITUTE IS ALSO DEVELOPING HIGHER-LEVEL EDUCATIONAL MATERIALS TO TEACH STUDENTS ABOUT THE EXECUTIVE BRANCH OF GOVERNMENT. IN ADDITION, THE INSTITUTE DEVELOPS AND DISTRIBUTES EDUCATIONAL VIDEO AND PODCAST MATERIALS AND OP-EDS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Ben Carson Chair | OfficerTrustee | 40 | $350,000 |
Lacena Carson Board Member | Trustee | 1 | $0 |
Andrew Hughes CEO | OfficerTrustee | 40 | $288,000 |
Irving Dennis CFO | Trustee | 40 | $229,390 |
James Demint Board Member | Trustee | 1 | $0 |
Scott Turner Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Nextafter Llc Digital Advertising | 12/30/22 | $1,281,114 |
Action Mailing Mailing Campaign Services | 12/30/22 | $1,061,340 |
Face Book Advertising | 12/30/22 | $537,904 |
3dbob Productions Computer Graphics | 12/30/22 | $448,337 |
American Business Collaborative Llc Professional Services | 12/30/22 | $350,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $507,500 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,120,193 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,627,693 |
| Total Program Service Revenue | $0 |
| Investment income | $9 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$115,330 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,512,372 |
| 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. | $798,000 |
| Compensation of current officers, directors, key employees. | $276,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $371,885 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $140,517 |
| 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 | $1,671,049 |
| Advertising and promotion | $116,282 |
| Office expenses | $55,214 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $137,704 |
| Travel | $285,040 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $18,628 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,738 |
| All other expenses | $218,731 |
| Total functional expenses | $8,955,894 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,078,627 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $5,450 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $330,096 |
| Total assets | $2,414,173 |
| Accounts payable and accrued expenses | $260,680 |
| 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 | $0 |
| Other liabilities | $334,763 |
| Total liabilities | $595,443 |
| Net assets without donor restrictions | $1,818,730 |
| 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 | $2,414,173 |