2023-10-05T04:43:07-00:00 2023-05-31 990 2022-06-01 381443369 Cornerstone University CORN 1001 E Beltline NE Grand Rapids MI 49525 Scott Stewart VP for FinanceCFO 6162221446 2023-10-03 false Scott Stewart XXX-XX-XXXX 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z Gerson Moreno-Riano 1001 E Beltline Ave NE Grand Rapids MI 49525 55397515 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. 19 18 1235 170 85294 12148 12728865 6580347 46483413 46579760 676944 165277 -28212 85812 59861010 53411196 17810613 15916380 0 22433027 22032691 95235 17994 1635946 15858027 15395882 56196902 53362947 3664108 48249 108326203 104686388 10142732 6919386 98183471 97767002 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 28072891 15916380 37839077 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. 9430761 387637 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. 6513762 7833385 Auxiliaries include room and board, apartment rentals, hospitality and events, and radio ministries. Cornerstone Radio Ministries includes the operations of five non-commercial radio stations WCSG, Grand Rapids with signals also in Kalamazoo, Benton Harbor and Battle Creek. 3,548,831 is included in contribution revenue on Part VIII, Line 1f. 565952 44017414 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 true false false false false false false true false false false true true false false true true true false false false true 2359 0 true 1235 true true true true TH SN RP HK false false false true true false false false false false false false X 19 18 false false false false false false false true true false false true true true true true true true true false X Scott Stewart VP CFO Cornerstone Un 6169495300 1001 E Beltline NE Grand Rapids MI 49525 Dr Gerson Moreno-Riano President 050.00 000.25 X X 332681 0 25213 Heidi Cece VP Chief of Staff 050.00 000.25 X 166056 0 8207 John VerBerkmoes Exec Dir of Accreditation 050.00 000.25 X 131165 0 15536 Scott Stewart VP CFO 050.00 000.25 X 126778 0 15252 Robert Sack VP of Advancement 050.00 000.25 X 114725 0 16754 Emilie Azkoul VP of HR 050.00 000.25 X 111201 0 19469 Jonathan Marko Associate Vice President for Academics 050.00 000.25 X 110166 0 4175 Maria McCormick Nursing Faculty 050.00 000.25 X 112686 0 978 Nicole Mcdonald Psycology Faculty 050.00 000.25 X 103468 0 2802 Bradford Sample VP for Academics 050.00 000.25 X 72486 0 785 Carole Bos Trustee, Chair 001.00 000.25 X X 0 0 0 Steven Hawks Trustee, Treasurer 001.00 000.25 X X 0 0 0 Dr Albert Meredith Trustee 001.00 000.25 X 0 0 0 David Pray Trustee 001.00 000.25 X 0 0 0 Kelly Miller Trustee 001.00 000.25 X 0 0 0 Doug Busch Trustee 001.00 000.25 X 0 0 0 Dr Lee Zuidema Trustee, Secretary 001.00 000.25 X X 0 0 0 Rick Koole Trustee 001.00 000.25 X 0 0 0 Lori Cook Trustee - Vice Chair 001.00 000.25 X X 0 0 0 Drew Martin Trustee 001.00 000.25 X 0 0 0 Lee June Trustee 001.00 000.25 X 0 0 0 Daniel Wielhouwer Trustee 001.00 000.25 X 0 0 0 Julian Guzman Trustee 001.00 000.25 X 0 0 0 Mark Campbell Trustee 001.00 000.25 X 0 0 0 Nathan Vriesman Trustee 001.00 000.25 X 0 0 0 David Bernd Trustee 001.00 000.25 X 0 0 0 Jeff Baker Trustee 001.00 000.25 X 0 0 0 Patrina Mosley Trustee 001.00 000.25 X 0 0 0 1381412 109171 9 false true false Gordon Food Service PO Box 88029 Chicago IL 606801029 Food supplier 1001856 The Christman Company 208 N Capitol Ave Lansing MI 48933 Construction contractor 760751 Google Inc 1600 Amphitheatre Pkwy Mountain View CA 94043 Advertising 535616 Slingshot LP 1500 S Western Ave Marion IN 46953 Book/Mail service 845020 Michigan Software Labs 7471 River St SE Ada MI 49301 Software 324071 27 216907 106601 236496 6020343 217400 6580347 Tuition fee revenue 611710 37839077 37839077 Organized activity revenue 611710 480386 480386 Auxiliary revenue 611710 7694345 7694345 565952 565952 46579760 465896 465896 223248 91663 131585 131585 46291 85294 1536017 -2175 1834461 -298444 -2175 -300619 -300619 14422 216907 60195 -45773 -45773 53411196 46626051 85294 119504 0 15916380 15916380 0 0 1009606 247534 487307 274765 0 16418199 13543625 2113470 761104 692924 535954 111592 45378 2737115 1604200 1023789 109126 1174847 946339 162981 65527 0 140106 5575 134531 52450 52450 0 17994 17994 109999 109999 0 766549 727154 1408 37987 6168400 4865397 1049456 253547 1757599 130629 1624041 2929 0 1197895 574636 623259 747453 649413 51016 47024 0 107170 99601 5963 1606 114700 110556 4144 0 3558346 3416013 142333 296200 284352 11848 Organized activities expenses 379015 360056 18959 0 53362947 44017414 7709587 1635946 124023 106229 15185326 11884936 1895558 1851945 1108592 1479382 380807 349290 87481 40242 434302 528270 131189713 60329748 71499304 70859965 17610810 17586129 108326203 104686388 3108998 2666236 1983178 1565340 3165000 2120000 1661026 359544 224530 208266 10142732 6919386 X 51767889 52508934 46415582 45258068 98183471 97767002 108326203 104686388 48249 -464718 X X false true X true true true X 7904131 11980525 14553985 12728865 6580347 53747853 7904131 11980525 14553985 12728865 6580347 53747853 4882362 48865491 386225 254364 274685 602250 465896 1983420 353 16036 16389 8240 1100 2140 14422 25902 55773564 222794506 0.85600 X Part II Section C Line 16a The organization is a school as described under 170b1Aii and is not required to complete a public support schedule. Schedule A is completed to verify the School can qualify under the public charity status section 170 b1Avi and, therefore, qualifies to use the first listed special rule for Schedule B reporting. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 199750 2845544 X false false 16402620 1085094 -297267 591522 91026 16507899 15675882 2470526 -1000143 645121 98524 16402620 10574278 3249095 2612885 657994 102382 15675882 10434362 415708 501198 704869 72121 10574278 10556691 288699 188720 550674 49074 10434362 0.20000 0.80000 false false 2175683 2175683 95505174 33151669 62353505 21648729 16677878 4970851 11860127 10500201 1359926 70859965 Financial derivatives and other financial products Closely-held equity interests Federal income taxes Liabilities under split interest agreements 208266 208266 37181955 -464719 151858 -312861 37494816 15916380 15916380 53411196 37598425 151858 151858 37446567 15916380 15916380 53362947 III Line 4 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. V Line 4 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. XI Line 2d Direct expenses from fund raising events 60,195 as listed on form 990, XI Line 2d and rental expenses 91,663 on form 990, Part VIII, Line 6b XI Line 4b Scholarships and grants 15,916,380 to students is a contra revenue onthe financial statements XII Line 2d Direct expenses from fund raising events 60,195 as listed on form 990 XII Line 2d and rental expenses 91,663 on form 990, Part VIII, Line 6b. XII Line 4b Scholarships and grants 15,916,380 to students is a contra revenue on the financial statements true true true true true true true false false false false false false false false true false true 6a a Funds are received from the State of Michigan and Federal government agencies forstudent financial aid and work study programs. South Asia 1 1 program services theological education 88547 1 1 1 1 88547 88547 false false false false false false 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. X X X X X X X true JMilito & Associates 720 3 Mile Rd NW Grand Rapids MI 49544 telephone fundraising services false 7140 10044 7140 10044 FL MI MN Advancement Golf Invitational 59980 59980 9017 3681 Athletics Golf Outing 41683 38961 2722 5508 1 129666 117966 11700 39034 2955 231329 216907 14422 53559 6636 60195 -45773 true Scholarships 1149 15916380 Part I Line Line 2 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 false false false false false false false false false Dr Gerson Moreno-Riano President 332681 13615 11598 357894 Heidi Cece VP Chief of Staff 166056 5137 3070 174263 Part I Line 1a Occasional travel by the President requires his wife to travel with him for donor meetings that are essential tothe business of the University. This benefit is not treated as taxable compensation Part I Line 1a The Board of Trustees considers the Presidents membership at a local country club to be critical to the furthering of business of the University. The benefit is listed as taxable compensation on the employees W-2 form. A Grand Rapids Economic Development Corporation 521701965 2013-10-24 11580000 refund 2004 bonds and finance a new residence hall false false false A 11580000 5400000 6180000 2013 true false true true A false false false false 0.02740 0.02740 false false true A false true true false false false true A true Students dependents of employees 11000 Merit Scholarships X 2 42700 X 1 157050 X 3 17650 6 false true false Form 990, Part III, Line 4d Program Service Expenses 0, Grants and allocations 0, Revenue 565,952 All other program service revenue 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 organizationsinclude varying degrees of lobbying activities in their overall focus. For the tax year ended5/31/23, the dues notices did not include any lobbying expenses. Form 990, Part VI, Section B, Line 11b The Board receives an electronic copy of the Form 990prior to filing. Management also reviews Form 990 with our independent CPA audit firm prior to filing Form 990, Part VI, Section B, Line 12c In the summer of each year, the Board members,Officers, and Key Employees are sent a copy of the policy and are asked to complete theconflict of interest survey on-line. They are asked to complete the conflict of interestsurvey questions by the end of August. It is the policy of the Board of Trustees ofCornerstone University that, in the event that the Board, officers, and/or managers ofCornerstone University are considering a transaction on behalf of Cornerstone University whichwill also involve 1 a member of the Board, an officer, a manager of Cornerstone University,or a member of their families spouse, parents, brothers, sisters, or lineal descendants, or2 an organization with which any such person is affiliated as described below, then suchtrustee, officer, or manager at first knowledge of any such transaction, shall disclose fullythe precise nature of his or her interest or involvement. Form 990, Part VI, Section B, Line 15a 15b The Executive Committee of the Board determinesthe wage for the President after reviewing salary comparisons of other like schools. ThePresident also uses comparisons of other like schools in determining wages for VicePresidents. The Vice Presidents wages are recommended by the President and approved by theExecutive Committee of the Board. The Executive Committee minutes are ratified by the fullBoard in the Board minutes. Form 990, Part VI, Section C, Line 19 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 VI, Section A, Line 1a The purpose of the Executive Committee, made up of aChair, Vice-Chair, Secretary, and Treasurer, is to assist the Board chairperson and thePresident with their joint responsibility to aid the Board in functioning effectively andefficiently, to assist the President at his or her request to address the business of theUniversity between meetings of the Board, and to oversee the work of the Board committeesbetween meetings of the Board. Between meetings of the Board of Trustees, the ExecutiveCommittee shall have general supervision of the administration and property of the Universityexcept 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 ExecutiveCommittee 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 thisfiscal year, there were no unusual circumstances requiring Executive Committee action apartfrom the full Board. All Executive Committee decisions were brought to the full Board forapproval. All members of the Executive Committee are Board members. Form 990, Part XII, Line 2c The Finance/Audit Committee of the Board of Trustees assumes theresponsibility for oversight of the audit and selection of independent auditors. Form 990, Part XII, Line 3b Because Cornerstone University participates in the Federal TitleIV Financial Aid programs, the university is required to have an Uniform Guidance UG Auditconducted on the schedule of federal financial aid expenditures. false false false false false false false false false false false false false false false false false false false