CORNERSTONE ACADEMY INC: Form 990, tax year 2018
View the entire original 990 at ProPublica ↗
- Organization
- CORNERSTONE ACADEMY INC (EIN 74-3169328)
- Tax period
- 2018-07-01 to 2019-06-30
- Filed
- 2020-06-17
- IRS object ID
- 202041699349301909
- Schema version
- 2018v3.1
- 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 | 2020-06-17T16:03:31-05:00 | ReturnTs |
| Tax Period End | 2019-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 621532536 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | COULTER & JUSTUS PC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 9717 COGDILL ROAD SUITE 201 | AddressLine1Txt |
| City | KNOXVILLE | CityNm |
| State Abbreviation | TN | StateAbbreviationCd |
| ZIP | 37932 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2018-07-01 | 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 |
| Business Name Line2 | LAKEWAY CHRISTIAN SCHOOLS | BusinessNameLine2Txt |
| 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 | 4801 S DAVY CROCKETT PARKWAY | AddressLine1Txt |
| City | MORRISTOWN | CityNm |
| State Abbreviation | TN | StateAbbreviationCd |
| ZIP | 37813 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | TYLER D VINEYARD | PersonNm |
| Person Title | TREASURER | PersonTitleTxt |
| Phone | 4233071189 | PhoneNum |
| Signature | 2020-06-15 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | KEVIN MCCOLLUM CPA | PreparerPersonNm |
| PTIN | P00119089 | PTIN |
| Phone | 8656374161 | PhoneNum |
| Preparation | 2020-06-15 | PreparationDt |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 69.73.35.66 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IP | 2020-06-15 | IPDt |
| IP Tm | 14:52:52 | IPTm |
| IP Timezone | ED | IPTimezoneCd |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | 423E5D56390B42D8579120420FDDAC2B1A06631B | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | 423E5D56390B42D8579120420FDDAC2B1A06631B | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2018 | TaxYr |
| Build TS | 2021-01-29 14:40:06Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | ROBERT BROWN | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4801 S DAVY CROCKETT PARKWAY | AddressLine1Txt |
| City | MORRISTOWN | CityNm |
| State Abbreviation | TN | StateAbbreviationCd |
| ZIP | 37813 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $20,605,875 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.LCSTN.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2006 | FormationYr |
| Legal Domicile State | TN | LegalDomicileStateCd |
| Activity Or Mission | SEE SCHEDULE O | ActivityOrMissionDesc |
| Voting Members Governing Body | 6 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 6 | VotingMembersIndependentCnt |
| Total Employee | 110 | TotalEmployeeCnt |
| Total Volunteers | 17 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $26,532,460 | PYContributionsGrantsAmt |
| CY Contributions Grants | $18,378,909 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $1,639,297 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $1,786,188 | CYProgramServiceRevenueAmt |
| PY Investment Income | $22,113 | PYInvestmentIncomeAmt |
| CY Investment Income | $0 | CYInvestmentIncomeAmt |
| PY Other Revenue | $74,162 | PYOtherRevenueAmt |
| CY Other Revenue | $391,990 | CYOtherRevenueAmt |
| PY Total Revenue | $28,268,032 | PYTotalRevenueAmt |
| CY Total Revenue | $20,557,087 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $1,634,867 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $2,901,327 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $811,994 | PYOtherExpensesAmt |
| CY Other Expenses | $2,430,791 | CYOtherExpensesAmt |
| PY Total Expenses | $2,446,861 | PYTotalExpensesAmt |
| CY Total Expenses | $5,332,118 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $25,821,171 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $15,224,969 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $44,510,212 | TotalAssetsBOYAmt |
| Total Assets EOY | $61,822,596 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $2,074,214 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $4,357,429 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $42,435,998 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $57,465,167 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | SEE SCHEDULE O | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $4,089,968 | ExpenseAmt |
| Revenue | $2,151,290 | RevenueAmt |
| Desc | PARTNERING WITH FAMILIES TO PROVIDE A CHRIST-CENTERED AND ACADEMICALLY CHALLENGING EDUCATION, EQUIPPING STUDENTS WITH A BIBLICAL WORLDVIEW AND A HEART FOR CHRIST, THAT THEY MAY GROW IN WISDOM, STATURE AND IN FAVOR WITH GOD AND MAN. | Desc |
| Total Program Service Expenses | $4,089,968 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Temp Or Permanent Endowments | 0 | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (1) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | Yes (1) | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | Yes (1) | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | 0 | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | 0 | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 22 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 110 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 6 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 6 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | 0 | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | 0 | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | 0 | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | NICOLE BUCHANAN | PersonNm |
| Phone | 4233071189 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4801 S DAVY CROCKETT PARKWAY | 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 |
|---|---|---|---|---|---|---|
| ROBERT A JENKINS | ||||||
| PRESIDENT | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| LEAH TAYLOR | ||||||
| SECRETARY | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| HUBERT DAVIS | ||||||
| BOARD MEMBER | 2.00 | Yes (X) | $0 | $0 | $0 | |
| WINDSOR FAULKENBERRY | ||||||
| BOARD MEMBER | 2.00 | Yes (X) | $0 | $0 | $0 | |
| JOE HUNTSMAN | ||||||
| BOARD MEMBER | 2.00 | Yes (X) | $0 | $0 | $0 | |
| TRAVIS JENKINS | ||||||
| BOARD MEMBER | 2.00 | Yes (X) | $0 | $0 | $0 | |
| TYLER D VINEYARD | ||||||
| TREASURER | 2.00 | Yes (X) | $0 | $0 | $0 | |
| ROBERT F BROWN | ||||||
| EXECUTIVE DIRECTOR | 40.00 | Yes (X) | $0 | $0 | $0 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $0 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $0 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | 0 | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | 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 ROAD | KNOXVILLE | TN | 37932 | CONSTRUCTION | $9,059,968 |
| QUALITY MACHINE & WELDING CO | |||||
| PO BOX 27345 | KNOXVILLE | TN | 37927 | CONSTRUCTION | $1,645,500 |
| PRO FORM SPORTS | |||||
| 215 S MONROE ST STE 320 | TALLAHASSEE | FL | 32301 | CONSTRUCTION | $1,483,900 |
| MUSCO SPORTS LIGHTING | |||||
| 100 1ST AVE WEST | OSKALOOSA | IA | 52577 | CONSTRUCTION | $600,000 |
| CHARLES BLALOCK & SONS INC | |||||
| PO BOX 4750 | SEVIERVILLE | TN | 37864 | CONSTRUCTION | $596,904 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 16 | CntrctRcvdGreaterThan100KCnt |
| Fundraising | $85,583 | FundraisingAmt |
| All Other Contributions | $18,293,326 | AllOtherContributionsAmt |
| Total Contributions | $18,378,909 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| ACADEMIC TUITION AND FEES | 611600 | $1,510,617 | $1,510,617 |
| LUNCH PROGRAM | 611710 | $159,804 | $159,804 |
| ENROLLMENT REVENUE | 611710 | $97,871 | $97,871 |
| AFTERCARE PROGRAM | 611710 | $17,896 | $17,896 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $1,786,188 | TotalProgramServiceRevenueAmt |
| Fundraising Gross Income | $75,676 | FundraisingGrossIncomeAmt |
| Contri Rpt Fundraising Event | $85,583 | ContriRptFundraisingEventAmt |
| Fundraising Direct Expenses | $48,788 | FundraisingDirectExpensesAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $26,888 | TotalRevenueColumnAmt |
| Exclusion | $26,888 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER REVENUE | Desc |
| Business | 611710 | BusinessCd |
| Total Revenue Column | $365,102 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $365,102 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $365,102 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $20,557,087 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $2,151,290 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $26,888 | ExclusionAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,581,606 | TotalAmt |
| Program Services | $1,892,151 | ProgramServicesAmt |
| Management And General | $689,455 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $124,765 | TotalAmt |
| Program Services | $79,744 | ProgramServicesAmt |
| Management And General | $45,021 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $194,956 | TotalAmt |
| Program Services | $143,929 | ProgramServicesAmt |
| Management And General | $51,027 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $349 | TotalAmt |
| Management And General | $349 | ManagementAndGeneralAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $21,210 | TotalAmt |
| Program Services | $218 | ProgramServicesAmt |
| Management And General | $20,992 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $13,875 | TotalAmt |
| Management And General | $13,875 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $93,416 | TotalAmt |
| Program Services | $48,973 | ProgramServicesAmt |
| Management And General | $44,443 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $95,451 | TotalAmt |
| Program Services | $74,822 | ProgramServicesAmt |
| Management And General | $20,629 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $111,352 | TotalAmt |
| Program Services | $97,929 | ProgramServicesAmt |
| Management And General | $13,423 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $564,000 | TotalAmt |
| Program Services | $564,000 | ProgramServicesAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $28,472 | TotalAmt |
| Management And General | $28,472 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (3 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| MISCELLANEOUS EXPENSES | $730,095 | $730,095 | |
| OTHER EXPENSES | $619,626 | $359,177 | $260,449 |
| CONTRACT SERVICES | $152,945 | $98,930 | $54,015 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,332,118 | TotalAmt |
| Program Services | $4,089,968 | ProgramServicesAmt |
| Management And General | $1,242,150 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $20,318,731 | BOYAmt |
| EOY | $8,244,800 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $53,712 | BOYAmt |
| EOY | $11,677 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $19,608,007 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $1,347,799 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,086,223 | BOYAmt |
| EOY | $18,260,208 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $18,940 | BOYAmt |
| EOY | $14,731 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,032,606 | BOYAmt |
| EOY | $35,291,180 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $44,510,212 | BOYAmt |
| EOY | $61,822,596 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $2,263,629 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $47,370 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,014,594 | BOYAmt |
| EOY | $1,909,091 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $59,620 | BOYAmt |
| EOY | $137,339 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,074,214 | BOYAmt |
| EOY | $4,357,429 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow SFAS117 | Yes (X) | OrgDoesNotFollowSFAS117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $42,435,998 | BOYAmt |
| EOY | $57,465,167 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $42,435,998 | BOYAmt |
| EOY | $57,465,167 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $44,510,212 | BOYAmt |
| EOY | $61,822,596 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $15,224,969 | ReconcilationRevenueExpnssAmt |
| Prior Period Adjustments | -$195,800 | PriorPeriodAdjustmentsAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | 0 | FSAuditedInd |
| Federal Grant Audit Required | 0 | 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 | $4,413,443 | OtherCostOrOtherBasisAmt |
| Book Value | $4,413,443 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $12,847,867 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,132,024 | DepreciationAmt |
| Book Value | $11,715,843 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,346,697 | OtherCostOrOtherBasisAmt |
| Depreciation | $215,775 | DepreciationAmt |
| Book Value | $2,130,922 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $18,260,208 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | CONSTRUCTION IN PROCESS | Desc |
| Book Value | $35,291,180 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $35,291,180 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER LIABILITIES | Desc |
| Amt | $137,339 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $137,339 | TotalLiabilityAmt |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | Yes (1) | NondiscriminatoryPolicyStmtInd |
| Policy Stmt In Brochures Etc | Yes (1) | PolicyStmtInBrochuresEtcInd |
| Plcy Pblczd Via Broadcast Media | Yes (1) | PlcyPblczdViaBroadcastMediaInd |
| Maintain Racial Comp Recs | Yes (1) | MaintainRacialCompRecsInd |
| Maintain Scholarships Recs | Yes (1) | MaintainScholarshipsRecsInd |
| Maintain Cpy Of Brochures Etc | Yes (1) | MaintainCpyOfBrochuresEtcInd |
| Maintain Cpy Of All Sol | Yes (1) | MaintainCpyOfAllSolInd |
| Discriminate Race Stdnts Rghts | 0 | DiscriminateRaceStdntsRghtsInd |
| Discriminate Race Admiss Plcy | 0 | DiscriminateRaceAdmissPlcyInd |
| Discriminate Race Emplm Fculty | 0 | DiscriminateRaceEmplmFcultyInd |
| Discriminate Race Schs | 0 | DiscriminateRaceSchsInd |
| Discriminate Race Educ Plcy | 0 | DiscriminateRaceEducPlcyInd |
| Discriminate Race Use Of Fclts | 0 | DiscriminateRaceUseOfFcltsInd |
| Discriminate Race Athlt Prog | 0 | DiscriminateRaceAthltProgInd |
| Discriminate Race Other Acty | 0 | DiscriminateRaceOtherActyInd |
| Government Financial Aid Rcvd | 0 | GovernmentFinancialAidRcvdInd |
| Government Financial Aid Rvkd | 0 | GovernmentFinancialAidRvkdInd |
| Compliance With Rev Proc7550 | Yes (1) | ComplianceWithRevProc7550Ind |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE E, PART I, LINE 3 | FormAndLineReferenceDesc |
| Explanation | POLICIES ARE DISCLOSED IN SCHOOL AND PRINTED MATERIALS ARE 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 | GOLF TOURNAMENT | Event1Nm |
| Gross Receipts Event1 | $41,425 | GrossReceiptsEvent1Amt |
| Charitable Contri Event1 | $41,425 | CharitableContriEvent1Amt |
| Event2 | SYSTEM WIDE SCRIP | Event2Nm |
| Gross Receipts Event2 | $72,538 | GrossReceiptsEvent2Amt |
| Charitable Contri Event2 | $7,528 | CharitableContriEvent2Amt |
| Gross Revenue Event2 | $65,010 | GrossRevenueEvent2Amt |
| Other Direct Expenses Event2 | $38,222 | OtherDirectExpensesEvent2Amt |
| Other Events Total | 6 | OtherEventsTotalCnt |
| Gross Receipts Other Events | $47,296 | GrossReceiptsOtherEventsAmt |
| Charitable Contri Other Events | $36,630 | CharitableContriOtherEventsAmt |
| Gross Revenue Other Events | $10,666 | GrossRevenueOtherEventsAmt |
| Oth Direct Expnss Other Events | $10,566 | OthDirectExpnssOtherEventsAmt |
| Gross Receipts Total | $161,259 | GrossReceiptsTotalAmt |
| Charitable Contributions Tot | $85,583 | CharitableContributionsTotAmt |
| Gross Revenue Total Events | $75,676 | GrossRevenueTotalEventsAmt |
| Oth Direct Expnss Total Events | $48,788 | OthDirectExpnssTotalEventsAmt |
| Direct Expense Summary Events | $48,788 | DirectExpenseSummaryEventsAmt |
| Net Income Summary | $26,888 | NetIncomeSummaryAmt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (5 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990 - ORGANIZATION'S MISSION | THE PRIMARY MISSION OF CORNERSTONE ACADEMY, INC. IS TO OPERATE AS A SCHOOL THAT WILL ADHERE TO THE STATEMENT OF FAITH AND PURPOSE AS SET OUT IN SECTIONS I AND II OF ARTICLE 2 OF THE BYLAWS. EDUCATION AT CORNERSTONE ACADEMY IS DEFINED MORE INHERENTLY DIFFERENT THAN PUBLIC EDUCATION IN PHILOSOPHY AND CONTENT. CORNERSTONE ACADEMY'S PURPOSE IS TO BRING GLORY TO THE LORD JESUS CHRIST BY ASSISTING CHRISTIAN PARENTS IN THE GODLY EDUCATION OF THEIR CHILDREN. AT ALL LEVELS, PROGRAMS, AND TEACHING, CORNERSTONE ACADEMY SEEKS TO: A. ENCOURAGE EVERY CHILD TO DEVELOP HIS/HER RELATIONSHIP WITH GOD THE FATHER THROUGH JESUS CHRIST (MATT. 19:13-15; 28:18-20) B. TEACH ALL SUBJECTS AS PARTS OF AN INTEGRATED WHOLE WITH THE SCRIPTURE AS THE CENTER (2 TIMOTHY 3:16-17) C. PROVIDE A CLEAR MODEL OF BIBLICAL CHRISTIAN LIFE THROUGH ITS STAFF AND BOARD (MATT. 22:37-40) D. EMPHASIZE GRAMMAR, LOGIC, AND RHETORIC IN ALL SUBJECTS. E. ENCOURAGE EVERY STUDENT TO DEVELOP A LOVE FOR LEARNING AND TO ACHIEVE HIS/HER ACADEMIC POTENTIAL. F. PROVIDE ACCESS TO FAMILIES IN THE LAKEWAY AREA AND PROVIDE AN ORDERLY ATMOSPHERE CONDUCIVE TO OBTAINING THESE GOALS. |
| FORM 990, PART I, LINE 6 | OFFICERS AND BOARD MEMBERS ARE NOT COMPENSATED FOR THEIR SERVICES. |
| FORM 990, PART VI, SECTION B, LINE 11B | FORM 990 IS REVIEWED AND COMPARED TO RESULTS REPORTED IN ORGANIZATION'S SKYWARD RECORDS. |
| FORM 990, PART VI, SECTION B, LINE 12C | ENFORCEMENT CONFLICTS POLICY DOCUMENTATION IS REVIEWED AND ANY EXCEPTIONS ARE NOTED AND FOLLOWED UP ON. |
| FORM 990, PART VI, SECTION C, LINE 19 | AVAILABLE UPON REQUEST. |
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