2025-10-15T09:04:04+00:00 2025-05-31 440160260 Forvis Mazars LLP 111 E Wayne Street Suite 600 Fort Wayne IN 46802 990 2024-06-01 381443369 Cornerstone University CORN 6169495300 1001 E Beltline NE Grand Rapids MI 49525 David Veneklase VP for Finance/CFO 6169495300 2025-10-15 true true Lauren Denton P01571860 2604604000 2025-10-15 2024 2025-03-06 01:10:19Z Gerson Moreno-Riano 1001 E Beltline NE Grand Rapids MI 49525 51762389 false X www.cornerstone.edu X 1941 MI Cornerstone University exists to empower men and women to excel as influencers in our world for Christ by offering a student-focused learning community where Jesus Christ is central. 17 16 1117 170 29848 25863 6011527 5960537 47085224 40919480 345364 180017 197304 166245 53639419 47226279 16183816 9930706 0 23443751 24044064 62917 105700 1409026 15636004 14139063 55326488 48219533 -1687069 -993254 105225637 106631231 7460401 8928933 97765236 97702298 X The University, including Cornerstone Theological Seminary, Asia Biblical Theological Seminary, and radio ministries, exists to empower men and women to excel as influencers in our world for Christ by offering a student focused learning community where Jesus Christ is central. false false 23339104 9930706 31691929 Academic instruction and academic support make up the educational expenses. The university has over 270 full- and part-time staff and faculty. We have just under 2000 students on a 120-acre campus and online. 7883138 514264 Student services includes campus life and activities including athletics, health counseling services, enrollment services financial aid, etc. Organized activities include summer sports camps, golf outings, special academic and athletic trips, banquets, and other miscellaneous activities. 5444830 7826140 Auxiliaries include room and board, apartment rentals, hospitality and events, and radio ministries. Cornerstone Radio Ministries includes the operations of five noncommercial radio stations WCSG, Grand Rapids with signals also in Kalamazoo, Benton Harbor and Battle Creek. 3,536,960 is included in contribution revenue on Part VIII, Line 1f. 887147 Other program services 887147 36667072 true true false false false false false true false true true false false false true false false true true true true false false true true false false false true true false false false false false false true false false false true true false false true false true false false false true X 2465 0 true 1117 true true true true HK RP SN TH false false false true true false false false false false false X 17 16 false false false false false false false true true false false false true true true true true true true true false false X Scott Stewart 6162221446 1001 E Beltline NE Grand Rapids MI 49525 David Pray Trustee, Secretary 1.0 X X 0 0 0 Douglas Busch Trustee, Treasurer 1.0 X X 0 0 0 Dr Gerson Moreno-Riano President 50.0 0.3 X X 331836 0 49493 Lori Cook Trustee, Vice Chair 1.0 X X 0 0 0 Rick Koole Trustee, Chair 1.0 X X 0 0 0 Carole Bos Trustee 1.0 X 0 0 0 David Bernd Trustee 1.0 X 0 0 0 Dr Albert Meredith Trustee 1.0 X 0 0 0 Dr Mark Campbell Trustee 1.0 X 0 0 0 Drew Martin Trustee 1.0 X 0 0 0 Jeff Baker Trustee 1.0 X 0 0 0 Julian Guzman Trustee 1.0 X 0 0 0 Kelly Miller Trustee 1.0 X 0 0 0 Lee Zuidema Trustee 1.0 X 0 0 0 Nathan Vriesman Trustee 1.0 X 0 0 0 Patrina Moseley Trustee 1.0 X 0 0 0 Steven Hawks Trustee 1.0 X 0 0 0 Bradford Sample VP for Academics 50.0 0.3 X 145016 0 21125 David Veneklase Start 1023 VP Finance / CFO 50.0 0.3 X 245406 0 5176 Heidi Cece VP Chief of Staff 50.0 0.3 X 213873 0 36923 Donald King VP for Strategic Initiatives 50.0 0.3 X 177605 0 30242 John VerBerkmoes Sec Dir of Accreditation 50.0 0.3 X 141138 0 9880 Jonathan Marko Asst VP for Academics 50.0 0.3 X 111774 0 37298 Misty Emmons Dean of Health, Science, & Technology 50.0 0.3 X 128774 0 8967 Scott Stewart Controller & Advancement Officer 50.0 0.3 X 134655 0 73598 1630077 0 272702 14 false true false Michigan Software Labs 7471 River St SE Ada MI 49301 Software development 2262560 Google Inc 1600 Amphitheatre Pkwy Mountain View CA 94043 Advertising 1211803 Slingshot LP 1500 S Western Ave Marion IN 46953 TextBook/Mail service 947410 Gordon Food Service PO Box 88029 Chicago IL 606801029 Food Supplier 786309 Entheon Institute Llc 4219 Gardner Rd Metamora MI 48455 Academic Consulting Services 515309 23 115598 107348 208002 5529589 30443 5960537 Tuition Fee Revenue 611710 31691929 31691929 Organized Activity Revenue 611710 514264 514264 Auxiliary Revenue 611710 7826140 7826140 887147 887147 0 0 40919480 558287 558287 260443 42314 103030 12466 157413 29848 187261 29848 157413 3979127 42201 4399598 -420471 42201 -378270 -378270 115598 21016 -21016 -21016 0 0 0 0 0 47226279 40919480 29848 316414 9930706 9930706 1101369 768661 285072 47636 17502842 12215476 4530341 757025 782134 429764 325029 27341 3371176 1852382 1400947 117847 1286543 706925 534644 44974 339088 3223 335865 63000 63000 105700 105700 80058 80058 0 0 0 0 1586822 1564314 22508 4368117 3712898 436812 218407 1329528 60124 1269404 1308366 620983 687383 805184 713853 37146 54185 77399 71285 5728 386 1586 1586 3448674 3310727 137947 311852 299378 12474 Organized Activities Expenses 419389 406372 13017 0 0 0 0 48219533 36667071 10143436 1409026 91531 95975 15016256 12318612 760536 790286 1659624 2005675 0 0 0 0 277608 243611 20930 16302 820069 1002999 137560807 66094919 68370232 71465888 18208851 18691883 0 0 0 0 105225637 106631231 2716378 2463708 1730234 1989792 0 0 2752628 4221058 261161 254375 7460401 8928933 X 51136415 51581846 46628821 46120452 97765236 97702298 105225637 106631231 X -993254 1268810 13200 -351694 X false true true true true X 14553985 12728865 6580347 6023059 5960737 45846993 0 0 14553985 12728865 6580347 6023059 5960737 45846993 2423769 43423224 274685 602250 465896 428410 818730 2589971 16036 81809 42314 140159 1100 2140 14422 0 0 17662 48594785 310754976 0.89358 0.91986 X Schedule A, Part II, Line 10 Other Income DESCRIPTION - , COLUMN A - 1100.0, COLUMN B - 2140.0, COLUMN C - 14422.0, COLUMN D - 0.0, COLUMN E - 0.0, COLUMN F - 17662.0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 2894910 X false 17011940 313981 1408059 663029 264341 17806610 16507899 477786 2189833 2006445 157133 17011940 16402620 1085094 -297267 591522 91026 16507899 15675882 2470526 -1000143 645121 98524 16402620 10574278 3249095 2612885 657994 102382 15675882 0.14 0.86 0.0 false false 1775683 1775683 100527693 36583945 63943748 23304264 18483700 4820564 11953167 11027274 925893 71465888 Federal Income Taxes Liabilities under split interest agreements 254375 254375 38362394 1268803 13200 -215182 1066821 37295573 9930706 9930706 47226279 38425339 136512 136512 38288827 9930706 9930706 48219533 Schedule D, Part XIII ASC 740 MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNDERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. Schedule D, Part III, Line 4 Collections of art - description of collections Cornerstone has some art sculptures displayed around campus that portray the Christian Worldview that we aspire to Creation, Fall, and Redemption. Since our school mascot is a Golden Eagle, we have a Golden Eagle sculpture in our athletic center. In Christ Chapel, we have four very large stained glass windows, a cross sculpture, and a large sculpture representing the life of Christ. We have had some more paintings and a German Torah Scroll donated to the University. Schedule D, Part V, Line 4 Intended uses of endowment funds The endowment funds have been established to provide financial support to the University, to award scholarships to students, and generate operating funds for certain divisions across campus. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 SPLIT INTEREST AGREEMENTS - -351694 FUNDRAISING EXPENSE - 21016 RENTAL EXPENSES - 115496 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements SCHOLARSHIPS ADDBACK - 9930706 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 RENTAL EXPENSES - 115496 FUDRAISING EXPENSE - 21016 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements SCHOLARSHIPS ADDBACK - 9930706 true true true true true true true false false false false false false false false true false true Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY Our non-discrimination statement can be found under the Title IX information found on cornerstone.edu which directly addresses race. Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT Funds are received from the State of Michigan and Federal government agencies for student financial aid and work study programs. South Asia 1 1 Program Services theological education 128064 1 1 0 0 1 1 128064 0 128064 false false false false false false Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements SOUTH ASIA-Accrual X X X X X X X true JMilito & Associates 720 3 Mile Rd NW Grand Rapids MI 49544 telephone fundraising services false 12020 19382 -7362 The Timothy Group Inc 1663 Sutherland Dr SE Grand Rapids MI 49508 outsourced advancement services false 0 85546 -85546 12020 104928 -92908 FL MI MN Advancement Golf Invitational 71650 71650 0 11588 1367 Athletics Golf Invitational 44248 44248 0 5149 2912 0 115898 115898 0 16737 4279 21016 -21016 true Scholarships 1233 9930706 0 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds The financial aid office of the University tracks the scholarships issued to students through the financial aid module of our ERP system. It tracks the information from the awarding process through the posting and disbursement processes. Award amounts are posted directly to the student accounts. No cash is distributed directly to the students. X X true true X X true false false false false false false false false Dr Gerson Moreno-Riano President 325000 0 0 0 6836 0 13000 0 36493 0 381329 0 0 0 Heidi Cece VP Chief of Staff 213873 0 0 0 0 0 8525 0 28398 0 250796 0 0 0 David Veneklase Start 1023 VP Finance / CFO 245406 0 0 0 0 0 4375 0 801 0 250582 0 0 0 Bradford Sample VP for Academics 145016 0 0 0 0 0 10033 0 11092 0 166141 0 0 0 John VerBerkmoes Sec Dir of Accreditation 141138 0 0 0 0 0 9880 0 0 0 151018 0 0 0 Scott Stewart Controller & Advancement Officer 120000 0 0 0 14655 0 9450 0 64148 0 208253 0 0 0 Donald King VP for Strategic Initiatives 177605 0 0 0 0 0 2333 0 27909 0 207847 0 0 0 Schedule J, Part I, Line 1a Travel for companions Occasional travel by the President or Advancement executives require their spouses to travel with them for donor meetings that are essential to the business of the University. This benefit is not treated as compensation. Schedule J, Part I, Line 1a Health or social club dues or initiation fees The Board of Trustees considers the President's membership at a local country club to be critical to the furthering of business of the University. The benefit is listed as a taxable compensation on the employee's W-2 form. Schedule J, Part I, Line 4a Severance or change-of-control payment John Verberkmoes left the university on 07/14/2023. His last payment is on 01/31/2025. For the tax year 2024 he was paid $141,138. 9350 SCHOLARSHIP Merit Scholarships 4 10016 Market value X MISCELLANEOUS EQUIPMENT 29 20427 Market value 0 false true false Schedule M, Part I Explanations of reporting method for number of contributions Securities - Publicly traded - THE NUMBER OF CONTRIBUTIONS REPRESENT THE NUMBER OF CONTRIBUTIONS RECEIVED, NOT THE NUMBER OF ITEMS DONATED. Other - MISCELLANEOUS EQUIPMENT THE NUMBER OF CONTRIBUTIONS REPRESENT THE NUMBER OF CONTRIBUTIONS RECEIVED, NOT THE NUMBER OF ITEMS DONATED. Form 990, Part III, Line 4a-4c Description of program services (Expenses $ including grants of $)(Revenue $ 887,147) Other program services Form 990, Part VI, Line 11b Review of form 990 by governing body The Board receives an electronic copy of the Form 990 prior to filing. Management also reviews Form 990 with our independent CPA audit firm prior to filing. Form 990, Part VI, Line 12c Conflict of interest policy At the fall board meeting each year, the Board members, Officers, and Key Employees are sent a copy of the policy and are asked to complete the conflict of interest survey online. They are asked to complete the conflict of interest questions by the end of August. It is the policy of the Board of Trustees of Cornerstone University that, in the event that the Board, officers, and/or managers of Cornerstone University are considering a transaction on behalf of Cornerstone University which will also involve 1. A member of the Board, an officer, a manger of Cornerstone University, or a member of their family's spouse, parents, brothers, sisters, or lineal descendants, or 2. An organization with which any such person is affiliated as described below, then such trustee, officer, or manager at first knowledge of any such transaction, shall disclose fully the precise nature of his or her interest or involvement. Form 990, Part VI, Line 15a Process to establish compensation of top management official The Executive Committee of the Board determines the wage for the President after reviewing salary comparisons of other like schools. The President also uses comparisons of other like schools in determining wages for Vice Presidents. The Vice Presidents wages are recommended by the President and approved by the Executive Committee of the Board. The Executive Committee minutes are ratified by the full Board in the Board minutes. Form 990, Part VI, Line 15b Process to establish compensation of other employees Most positions are compared to industry survey reports. Associations used for wage comparisons include Coalition of Christian Colleges & Universities (CCCU) and College & University Personnel Association (CUPA) Form 990, Part VI, Line 19 Required documents available to the public Cornerstone University makes its governing documents, conflict of interest policy, and financial statements available upon request. The form 990 is available on www.guidestar.org Form 990, Part VIII, Line 2f Other Program Service Revenue Other - Total Revenue: 887147, Related or Exempt Function Revenue: 887147, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Form 990, Part XI, Line 9 Other changes in net assets or fund balances SPLIT INTEREST AGREEMENTS - -351694; Schedule F, Part I, Line 3 The University uses general ledger expense accounts to track the expenses to support the ABTS theological education program in Southeast Asia. The University uses the accrual basis for accounting for these types of expenditures. Form 990, Part IV, Line 4 Cornerstone University pays membership dues to several state, regional, and national professional organizations MICU, NAIA, NACUBO, NASFA, CIC, CCCU, etc. consisting of numerous colleges and universities. Some of the professional organizations include varying degrees of lobbying activities in their overall focus. For the tax year ended 5/31/25, the dues notices did not include any lobbying expenses. Form 990, Part VI, Section A, Line 1a The purpose of the Executive Committee, made up of a Chair, Vice-Chair, Secretary, and Treasurer, is to assist the Board chairperson and the President with their joint responsibility to aid the Board in functioning effectively and efficiently, to assist the President at his or her request to address the business of the University between meetings of the Board, and to oversee the work of the Board committees between meetings of the Board. Between meetings of the Board of Trustees, the Executive Committee shall have general supervision of the administration and property of the University except that it may not take any action inconsistent with a prior act of the Board of Trustees, unless specifically empowered by the Board to do so. All actions taken by the Executive Committee shall be subject to revision, revocation, or alteration by the Board of Trustees, provided that no rights of third persons shall be adversely affected thereby. During this fiscal year, there were no unusual circumstances requiring Executive Committee action apart from the full Board. All Executive Committee decisions were brought to the full Board for approval. All members of the Executive Committee are Board members. Form 990, Part XII, Line 3b Because Cornerstone University participates in the Federal Title IV Financial Aid programs, the university is required to have an Uniform Guidance UG Audit conducted on the schedule of federal financial aid expenditures. Asia Biblical Theological Seminary LLC 1001 E Beltline NE Grand Rapids MI 49525 Provides education to students in southeast Asia MI 153994 288563 Cornerstone University