CORNERSTONE ACADEMY INC: Form 990, tax year 2016
View the entire original 990 at ProPublica ↗
- Organization
- CORNERSTONE ACADEMY INC (EIN 74-3169328)
- Tax period
- 2016-07-01 to 2017-06-30
- Filed
- 2018-05-15
- IRS object ID
- 201801359349313385
- Schema version
- 2016v3.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2018-05-15T18:25:38-04:00 | ReturnTs |
| Tax Period End | 2017-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | TAX & PAYROLL SERVICES | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 2025 | AddressLine1Txt |
| City | MORRISTOWN | CityNm |
| State Abbreviation | TN | StateAbbreviationCd |
| ZIP | 37816 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2016-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 743169328 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CORNERSTONE ACADEMY INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | CORN | BusinessNameControlTxt |
| Phone | 4233071189 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 260 JACOBS RD | AddressLine1Txt |
| City | MORRISTOWN | CityNm |
| State Abbreviation | TN | StateAbbreviationCd |
| ZIP | 37813 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | BRIAN COTTON | PersonNm |
| Person Title | CHAIRMAN | PersonTitleTxt |
| Phone | 4233071189 | PhoneNum |
| Signature | 2018-05-14 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | MELISSA F HILL CPA | PreparerPersonNm |
| PTIN | P00341705 | PTIN |
| Phone | 4233188880 | PhoneNum |
| Preparation | 2018-05-15 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2016 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | BRIAN COTTON | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 416 TERRY POINT ROAD | AddressLine1Txt |
| City | DANDRIDGE | CityNm |
| State Abbreviation | TN | StateAbbreviationCd |
| ZIP | 37725 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $10,958,616 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.CAMTN.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2006 | FormationYr |
| Legal Domicile State | TN | LegalDomicileStateCd |
| Activity Or Mission | CORNERSTONE ACADEMYS MISSION IS TO PARTNER WITH FAMILIES IN EQUIPPING STUDENTS TO ACHIEVE SPIRITUAL MATURITY AND ACADEMIC EXCELLENCE BY PROVIDING A CHRIST-CENTERED, CLASSICAL EDUCATION, SO THEY WILL ADOPT A BIBLICAL WORLDVIEW, THINKING AND LIVING THEIR LIVES IN A MANNER THAT BRINGS GLORY TO GOD. | ActivityOrMissionDesc |
| Voting Members Governing Body | 8 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 8 | VotingMembersIndependentCnt |
| Total Employee | 67 | TotalEmployeeCnt |
| Total Volunteers | 8 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| PY Contributions Grants | $7,295,948 | PYContributionsGrantsAmt |
| CY Contributions Grants | $9,210,649 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $1,120,855 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $1,322,867 | CYProgramServiceRevenueAmt |
| PY Investment Income | -$125,535 | PYInvestmentIncomeAmt |
| CY Investment Income | -$64,080 | CYInvestmentIncomeAmt |
| PY Other Revenue | $102,221 | PYOtherRevenueAmt |
| CY Other Revenue | $75,770 | CYOtherRevenueAmt |
| PY Total Revenue | $8,393,489 | PYTotalRevenueAmt |
| CY Total Revenue | $10,545,206 | CYTotalRevenueAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $828,132 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $1,131,491 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $632,438 | PYOtherExpensesAmt |
| CY Other Expenses | $791,851 | CYOtherExpensesAmt |
| PY Total Expenses | $1,460,570 | PYTotalExpensesAmt |
| CY Total Expenses | $1,923,342 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $6,932,919 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $8,621,864 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $10,893,612 | TotalAssetsBOYAmt |
| Total Assets EOY | $19,304,111 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $2,997,237 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $2,626,298 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $7,896,375 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $16,677,813 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | CORNERSTONE ACADEMYS MISSION IS TO PARTNER WITH FAMILIES IN EQUIPPING STUDENTS TO ACHIEVE SPIRITUAL MATURITY AND ACADEMIC EXCELLENCE BY PROVIDING A CHRIST-CENTERED, CLASSICAL EDUCATION, SO THEY WILL ADOPT A BIBLICAL WORLDVIEW, THINKING AND LIVING THEIR LIVES IN A MANNER THAT BRINGS GLORY TO GOD. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $1,923,233 | ExpenseAmt |
| Revenue | $1,322,867 | RevenueAmt |
| Desc | WE PROVIDE FAMILIES IN THE LAKEWAY AREA THE OPTION OF A CHRIST-CENTERED AND CLASSICAL EDUCATION FOR THEIR CHILD. WE PROVIDE EDUCATION FROM PRE-K TO GRADE 12. | Desc |
Prog Srvc Accom Acty Other ProgSrvcAccomActyOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $109 | ExpenseAmt |
| Desc | CHRIST-CENTERED, CLASSICAL EDUCATION | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Prog Srvc Expense | $109 | TotalOtherProgSrvcExpenseAmt |
| Total Program Service Expenses | $1,923,342 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (true) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (true) | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Lobbying Activities | false | LobbyingActivitiesInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Temp Or Permanent Endowments | false | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (true) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | false | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | false | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | false | ConsolidatedAuditFinclStmtInd |
| School Operating | Yes (true) | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | Yes (true) | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | false | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | false | PYExcessBenefitTransInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | false | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | false | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | false | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 2 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 67 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 8 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 8 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | false | MembersOrStockholdersInd |
| Election Of Board Members | false | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | false | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | false | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | false | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (true) | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | VICKEY MULL | PersonNm |
| Phone | 4233071189 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 260 JACOBS RD | AddressLine1Txt |
| City | MORRISTOWN | CityNm |
| State Abbreviation | TN | StateAbbreviationCd |
| ZIP | 37813 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| No Listed Persons Compensated | Yes (X) | NoListedPersonsCompensatedInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (8 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|
| BRIAN COTTON | ||||||
| CHAIRMAN | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| AMY GURLEY | ||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |
| EVI HUNTSMAN | ||||||
| TREASURER | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| HUBERT DAVIS | ||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |
| BOB JENKINS | ||||||
| VICE CHAIRMA | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| JEANNIE JETT | ||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |
| JEFF TAYLOR | ||||||
| SECRETARY | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MIKE HILL | ||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | false | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| MERIT CONSTRUCTION INC | |||||
| 10435 DUTCHTOWN RD | KNOXVILLE | TN | 37932 | CONSTRUCTION | $4,920,539 |
| JOHNSON ARCHITECTURE | |||||
| 2240 SUTHERLAND AVE | KNOXVILLE | TN | 37919 | ARCHITECTURE | $784,000 |
| NUCOR-VULCRAFT GROUP | |||||
| PO BOX 680169 | FT PAYNE | AL | 35968 | CONSTRUCTION | $151,360 |
| GRAYBAR | |||||
| PO BOX 403049 | ATLANTA | GA | 30384 | CONSTRUCTION | $122,437 |
| MID ATLANTIC ROOFING | |||||
| PO BOX 1535 | DENVER | NC | 28037 | CONSTRUCTION | $122,007 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 5 | CntrctRcvdGreaterThan100KCnt |
| Fundraising | $27,450 | FundraisingAmt |
| All Other Contributions | $9,183,199 | AllOtherContributionsAmt |
| Total Contributions | $9,210,649 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (5 entries)
| DescDesc | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|
| ACADEMIC TUITION & FEES | $1,176,914 | $1,176,914 |
| LUNCH PROGRAM | $93,796 | $93,796 |
| ATHLETIC PROGRAMS | $19,336 | $19,336 |
| AFTERCARE PROGRAM | $10,578 | $10,578 |
| JOURNALISM PROGRAM | $10,315 | $10,315 |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $11,928 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $11,928 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $1,322,867 | TotalProgramServiceRevenueAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $230,920 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $295,000 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -$64,080 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$64,080 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | -$64,080 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fundraising Gross Income | $194,180 | FundraisingGrossIncomeAmt |
| Contri Rpt Fundraising Event | $27,450 | ContriRptFundraisingEventAmt |
| Fundraising Direct Expenses | $118,410 | FundraisingDirectExpensesAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $75,770 | TotalRevenueColumnAmt |
| Exclusion | $75,770 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $10,545,206 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $1,258,787 | RelatedOrExemptFuncIncomeAmt |
| Exclusion | $75,770 | ExclusionAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,043,852 | TotalAmt |
| Program Services | $1,043,852 | ProgramServicesAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,550 | TotalAmt |
| Program Services | $6,550 | ProgramServicesAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $81,089 | TotalAmt |
| Program Services | $81,089 | ProgramServicesAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $26,685 | TotalAmt |
| Program Services | $26,685 | ProgramServicesAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $59,150 | TotalAmt |
| Program Services | $59,150 | ProgramServicesAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $32,890 | TotalAmt |
| Program Services | $32,890 | ProgramServicesAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $57,235 | TotalAmt |
| Program Services | $57,235 | ProgramServicesAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $166,569 | TotalAmt |
| Program Services | $166,569 | ProgramServicesAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,280 | TotalAmt |
| Program Services | $7,280 | ProgramServicesAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,132 | TotalAmt |
| Program Services | $4,132 | ProgramServicesAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $107,469 | TotalAmt |
| Program Services | $107,469 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $81,587 | TotalAmt |
| Program Services | $81,587 | ProgramServicesAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $13,498 | TotalAmt |
| Program Services | $13,498 | ProgramServicesAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt |
|---|---|---|
| LUNCHROOM EXPENSES | $67,210 | $67,210 |
| STUDENT ACTIVITIES | $39,935 | $39,935 |
| CURRICULUM | $37,675 | $37,675 |
| OTHER EXPENSE | $23,754 | $23,754 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $66,782 | TotalAmt |
| Program Services | $66,782 | ProgramServicesAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,923,342 | TotalAmt |
| Program Services | $1,923,342 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $495,840 | BOYAmt |
| EOY | $287,997 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $26,851 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $3,771,730 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $702,088 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,798,360 | BOYAmt |
| EOY | $3,069,642 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,566 | BOYAmt |
| EOY | $20,246 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,577,846 | BOYAmt |
| EOY | $15,899,375 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,893,612 | BOYAmt |
| EOY | $19,304,111 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $572,277 | BOYAmt |
| EOY | $476,676 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $198,558 | BOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,226,309 | BOYAmt |
| EOY | $2,132,989 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $93 | BOYAmt |
| EOY | $16,633 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,997,237 | BOYAmt |
| EOY | $2,626,298 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow SFAS117 | Yes (X) | OrgDoesNotFollowSFAS117Ind |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,896,375 | BOYAmt |
| EOY | $16,677,813 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,896,375 | BOYAmt |
| EOY | $16,677,813 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,893,612 | BOYAmt |
| EOY | $19,304,111 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $8,621,864 | ReconcilationRevenueExpnssAmt |
| Prior Period Adjustments | $159,574 | PriorPeriodAdjustmentsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | false | FSAuditedInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School | Yes (X) | SchoolInd |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $837,200 | OtherCostOrOtherBasisAmt |
| Book Value | $837,200 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,775,120 | OtherCostOrOtherBasisAmt |
| Depreciation | $578,895 | DepreciationAmt |
| Book Value | $2,196,225 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $32,739 | OtherCostOrOtherBasisAmt |
| Depreciation | $10,549 | DepreciationAmt |
| Book Value | $22,190 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $126,671 | OtherCostOrOtherBasisAmt |
| Depreciation | $112,644 | DepreciationAmt |
| Book Value | $14,027 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $3,069,642 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp (2 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| CONSTRUCTION IN PROGRESS | $12,773,575 |
| LAND - DONATED | $3,125,800 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $15,899,375 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER LIABILITIES | Desc |
| Amt | $16,633 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $16,633 | TotalLiabilityAmt |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | Yes (true) | NondiscriminatoryPolicyStmtInd |
| Policy Stmt In Brochures Etc | Yes (true) | PolicyStmtInBrochuresEtcInd |
| Plcy Pblczd Via Broadcast Media | Yes (true) | PlcyPblczdViaBroadcastMediaInd |
| Maintain Racial Comp Recs | Yes (true) | MaintainRacialCompRecsInd |
| Maintain Scholarships Recs | Yes (true) | MaintainScholarshipsRecsInd |
| Maintain Cpy Of Brochures Etc | Yes (true) | MaintainCpyOfBrochuresEtcInd |
| Maintain Cpy Of All Sol | Yes (true) | MaintainCpyOfAllSolInd |
| Discriminate Race Stdnts Rghts | false | DiscriminateRaceStdntsRghtsInd |
| Discriminate Race Admiss Plcy | false | DiscriminateRaceAdmissPlcyInd |
| Discriminate Race Emplm Fculty | false | DiscriminateRaceEmplmFcultyInd |
| Discriminate Race Schs | false | DiscriminateRaceSchsInd |
| Discriminate Race Educ Plcy | false | DiscriminateRaceEducPlcyInd |
| Discriminate Race Use Of Fclts | false | DiscriminateRaceUseOfFcltsInd |
| Discriminate Race Athlt Prog | false | DiscriminateRaceAthltProgInd |
| Discriminate Race Other Acty | false | DiscriminateRaceOtherActyInd |
| Government Financial Aid Rcvd | false | GovernmentFinancialAidRcvdInd |
| Government Financial Aid Rvkd | false | GovernmentFinancialAidRvkdInd |
| Compliance With Rev Proc7550 | Yes (true) | ComplianceWithRevProc7550Ind |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE E, LINE 3 | FormAndLineReferenceDesc |
| Explanation | POLICIES ARE DISCLOSED IN SCHOOL PRINTED MATERIALS AVAILABLE TO GENERAL PUBLIC AS WELL AS STUDENTS, FACULTY, AND DONORS. | ExplanationTxt |
Schedule G IRS990ScheduleG
Fundraising Event Information FundraisingEventInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Event1 | T & T | Event1Nm |
| Gross Receipts Event1 | $129,287 | GrossReceiptsEvent1Amt |
| Charitable Contri Event1 | $23,262 | CharitableContriEvent1Amt |
| Gross Revenue Event1 | $106,025 | GrossRevenueEvent1Amt |
| Food And Beverage Event1 | $17,590 | FoodAndBeverageEvent1Amt |
| Entertainment Event1 | $33,508 | EntertainmentEvent1Amt |
| Other Direct Expenses Event1 | $38,711 | OtherDirectExpensesEvent1Amt |
| Event2 | GOLF TOURNEY | Event2Nm |
| Gross Receipts Event2 | $60,138 | GrossReceiptsEvent2Amt |
| Charitable Contri Event2 | $3,888 | CharitableContriEvent2Amt |
| Gross Revenue Event2 | $56,250 | GrossRevenueEvent2Amt |
| Non Cash Prizes Event2 | $8,150 | NonCashPrizesEvent2Amt |
| Rent Facility Costs Event2 | $3,440 | RentFacilityCostsEvent2Amt |
| Other Direct Expenses Event2 | $48 | OtherDirectExpensesEvent2Amt |
| Other Events Total | 2 | OtherEventsTotalCnt |
| Gross Receipts Other Events | $32,205 | GrossReceiptsOtherEventsAmt |
| Charitable Contri Other Events | $300 | CharitableContriOtherEventsAmt |
| Gross Revenue Other Events | $31,905 | GrossRevenueOtherEventsAmt |
| Oth Direct Expnss Other Events | $16,963 | OthDirectExpnssOtherEventsAmt |
| Gross Receipts Total | $221,630 | GrossReceiptsTotalAmt |
| Charitable Contributions Tot | $27,450 | CharitableContributionsTotAmt |
| Gross Revenue Total Events | $194,180 | GrossRevenueTotalEventsAmt |
| Non Cash Prizes Total Events | $8,150 | NonCashPrizesTotalEventsAmt |
| Rent Fclty Costs Total Events | $3,440 | RentFcltyCostsTotalEventsAmt |
| Food And Beverage Total Events | $17,590 | FoodAndBeverageTotalEventsAmt |
| Entertainment Total Events | $33,508 | EntertainmentTotalEventsAmt |
| Oth Direct Expnss Total Events | $55,722 | OthDirectExpnssTotalEventsAmt |
| Direct Expense Summary Events | $118,410 | DirectExpenseSummaryEventsAmt |
| Net Income Summary | $75,770 | NetIncomeSummaryAmt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990 - ORGANIZATION'S MISSION | CORNERSTONE ACADEMYS MISSION IS TO PARTNER WITH FAMILIES IN EQUIPPING STUDENTS TO ACHIEVE SPIRITUAL MATURITY AND ACADEMIC EXCELLENCE BY PROVIDING A CHRIST-CENTERED, CLASSICAL EDUCATION, SO THEY WILL ADOPT A BIBLICAL WORLDVIEW, THINKING AND LIVING THEIR LIVES IN A MANNER THAT BRINGS GLORY TO GOD. |
| FORM 990, PAGE 1, PART I, LINE 6 | OFFICERS & BOARD MEMBERS ARE NOT COMPENSATED FOR THEIR SERVICES. |
| FORM 990, PAGE 2, PART III, LINE 4D | CHRIST-CENTERED, CLASSICAL EDUCATION |
| FORM 990, PAGE 6, PART VI, LINE 11B | FORM 990 IS REVIEWED AND COMPARED TO RESULTS REPORTED IN ORGANIZATION'S QUICKBOOKS RECORDS. |
| FORM 990, PAGE 6, PART VI, LINE 12C | DOCUMENTATION IS REVIEWED AND ANY EXCEPTIONS ARE NOTED AND FOLLOWED UP ON. |
| FORM 990, PAGE 6, PART VI, LINE 15A | FOR KEY EMPLOYEE POSITIONS, THE FOLLOWING IS DONE: 1) BENCHMARK SALARIES FOR SIMILAR SCHOOLS IN THE SOUTHEAST 2) HISTORICAL AND BENCHMARKED SALARIES ARE SENT TO THE BOARD OF DIRECTORS 3) BOARD OF DICRECTORS DETERMINES SALARY AMOUNTS |
| FORM 990, PAGE 6, PART VI, LINE 15B | FOR KEY EMPLOYEE POSITIONS, THE FOLLOWING IS DONE: 1) BENCHMARK SALARIES FOR SIMILAR SCHOOLS IN THE SOUTHEAST 2) HISTORICAL AND BENCHMARKED SALARIES ARE SENT TO THE BOARD OF DIRECTORS 3) BOARD OF DICRECTORS DETERMINES SALARY AMOUNTS |
| FORM 990, PAGE 6, PART VI, LINE 19 | AVAILABLE UPON REQUEST. |