2018-10-09T01:51:51-00:00 2018-05-31 990 2017-06-01 381443369 Cornerstone University CORN 6169495300 1001 E Beltline NE Grand Rapids MI 49525 Dee Mooney VP CFO 6162541661 2018-09-21 false 2017 2022-09-23 18:48:47Z Dr Joseph Stowell 1001 E Beltline NE Grand Rapids MI 49525 68267791 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 1395 170 25723 -2205 10908884 12828213 50087163 48834020 1838504 2029071 -31906 -88125 62802645 63603179 15308597 15227739 0 20855426 22111066 55840 17207 1151074 20185109 16926320 56404972 54282332 6397673 9320847 92637829 96113221 20857445 15166361 71780384 80946860 The University, including Grand Rapids 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 29056145 15227739 39357530 Academic instruction and academic support make up the educational expenses. The university has over 270 full- and part-time staff and faculty. We have over 2200 students on a 130-acre campus as well as off-site locations in Kalamazoo and Lansing. 9247807 1335900 Student services includes campus life and activities including athletics, health counseling services, enrollment services financial aid, etc. Organized activities include summer sports camps, theater events, golf outings, special academic and athletic trips, banquets, and other miscellaneous activities. 6595839 8140590 Auxiliaries include room board, apartment rentals, hospitality 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. 4,624,723 is included in contribution revenue on Part VIII, Line 1f. 44899791 true true false false false false false true false true true false false false true true 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 false false false true true false false false true 119 0 true 1395 true true true true SN RP TH HK false false false true true 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 X Scott Stewart Controller Cornerston 6169495300 1001 E Beltline NE Grand Rapids MI 49525 X Carole Bos Trustee, Chair 001.00 000.10 X X 0 0 0 Dr Mark Campbell Trustee 001.00 000.10 X 0 0 0 Steven Cochlan Trustee, Treasurer 001.00 000.10 X X 0 0 0 Dr Don Denyes Trustee, Vice Chair 001.00 000.10 X X 7490 0 0 Steven Hawks Trustee 001.00 000.10 X 0 0 0 Dr Albert Meredith Trustee 001.00 000.10 X 0 0 0 David Pray Trustee 001.00 000.10 X 2550 0 0 Kelly Miller Trustee 001.00 000.10 X 0 0 0 Dr Joseph Stowell President 050.00 000.10 X X 137675 0 105927 Doug Busch Trustee 001.00 000.10 X 0 0 0 Dr Lee Zuidema Trustee, Secretary 001.00 000.10 X X 0 0 0 Rick Koole Trustee 001.00 000.10 X 0 0 0 Brian Sikma Trustee 001.00 000.10 X 0 0 0 Lori Cook Trustee 001.00 000.10 X 0 0 0 Drew Martin Trustee 001.00 000.10 X 0 0 0 Joe McDonald Trustee 001.00 000.10 X 0 0 0 Lee June Trustee 001.00 000.10 X 0 0 0 Artie Lindsay Trustee 001.00 000.10 X 1100 0 0 Daniel Wielhouwer Trustee 001.00 000.10 X 0 0 0 Dee Mooney VP CFO 050.00 000.10 X 103953 0 16022 John VerBerkmoes VP Dean of Seminary 050.00 000.10 X 139133 0 21058 Marc Fowler Exec VP/COO 035.00 000.10 X 82412 0 24105 Michael Wittmer Executive VP 035.00 000.10 X 49659 0 65489 Robert Sack VP of Advancement 050.00 000.10 X 113107 0 16339 Peter Osborn Assoc VP of Adult Lrng 050.00 000.50 X 122159 0 36753 Robert Lehman GRTS Faculty 050.00 000.10 X 95803 0 28830 Tim Gombis GRTS Faculty 050.00 000.10 X 97790 0 7300 952831 321823 11 false true false Progressive Architecture Plan 1811 4 Mile Rd NE Grand Rapids MI 49525 Architect service 818107 The Christman Company 208 N Capitol Ave Lansing MI 48933 Construction contractor 4421623 Katerburg Verhage 3717 Michigan Rd NE Grand Rapids MI 49525 Landscaping services 376952 EAB Global Inc 2445 M St NW Washington DC 20037 Marketing advertising 258817 Royall & Company 1920 E Parham Rd Richmond VA 23228 Provider of student names mailings 308864 14 141497 103718 12582998 441423 12828213 Tuition fee revenue 611710 39357530 39357530 Organized activity revenue 611710 684450 684450 Auxiliary revenue 611710 8140590 8140590 651450 623522 27928 48834020 452310 452310 40963 43168 -2205 -2205 -2205 4936893 1123910 4384042 100000 552851 1023910 1576761 1576761 2500 141497 53624 -51124 -51124 81294 83778 -2484 -2484 -32312 63603179 48803608 25723 1945635 0 15227739 15227739 0 0 641424 171330 470094 0 16373444 13403077 2423199 547168 1067795 827940 197103 42752 2882737 1589391 1211738 81608 1145666 927460 178837 39369 0 31769 2712 29057 58931 58931 0 17207 17207 43496 43496 0 1708452 1585673 118933 3846 7573947 5592943 1678288 302716 1212474 282613 892491 37370 0 1270488 754271 516217 841556 739933 45448 56175 0 201132 179079 19520 2533 315417 299646 15771 0 2824814 2711821 112993 219351 219351 Organized activities expenses 624493 604163 20330 0 54282332 44899791 8231467 1151074 81234 86514 16143942 17914378 6749453 4647583 936774 714915 1224319 1092239 231840 233415 380354 234238 106273147 47766709 54274678 58506438 12615235 12683501 92637829 96113221 2817147 4019660 2751108 2642392 11395792 7105957 2863684 893345 1029714 505007 20857445 15166361 X 53118669 54613528 15114233 22016053 3547482 4317279 71780384 80946860 92637829 96113221 9320847 -154371 X X false true X true true true X 11637771 7681608 12998941 10908884 12828213 56055417 11637771 7681608 12998941 10908884 12828213 56055417 5020000 51035417 166536 211651 214608 235839 452310 1280944 832 25723 26555 235953 235953 57598869 0.88600 0.65090 X 0.00000 0.00000 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2100692 X false false 9495546 937954 658768 430153 105424 10556691 8431622 601632 888213 352869 73052 9495546 7431738 1524579 -151656 300874 72165 8431622 7293710 95790 412420 299254 70928 7431738 7207167 175925 747245 244483 592144 7293710 0.11840 0.40000 0.48000 false false 1998583 1998583 74415388 24337068 50078320 18580821 14864888 3715933 11278355 8564753 2713602 58506438 Financial derivatives and other financial products Closely-held equity interests Federal income taxes Liabilities under split interest agreements 505007 505007 X 48401639 -154371 180570 26199 48375440 15227739 15227739 63603179 39235163 180570 180570 39054593 15227739 15227739 54282332 III 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 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. X 2 The consolidated financial statement effects of a tax position taken or expected to be taken are recognized in the consolidated financial statements when it is more likely than not, based on the technical merits, that the position will be sustained upon examination. Interest and penalties, if any, are included in expenses in the statements of activities. As of May 31, 2018, the University had no uncertain tax positions that qualify for recognition or disclosure in the consolidated financial statements. XI 2d Direct expenses from fund raising events 53,624 as listed on form 990, Part VIII, Line 8b rental expenses 43,168 on form 990, Part VIII, Line 6b and Cost of Goods Sold 83,778 on form 990, Part VII, Line 10b. XI 4b Scholarships and grants 15,227,739 to students is a contra revenue on the financial statements. XII 2d Direct expenses from fund raising events 53,624 as listed on form 990, Part VIII, Line 8b rental expenses 43,168 on form 990, Part VIII, Line 6b and Cost of Goods Sold 83,778 on form 990, Part VII, Line 10b. XII 4b Scholarships and grants 15,227,739 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 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 17007 1 1 1 1 17007 17007 false false false false false false X X X X X X true Kennari Consulting 401 Hall St SW Ste 309 Grand Rapids MI 49503 consulting false 24714 24714 MI Radio Fundraising Banquet 73916 71416 2500 14118 3550 15623 Advancement Golf Outing 43130 43130 10408 1043 1 26951 26951 8496 386 143997 141497 2500 18904 14118 3550 17052 53624 -51124 true Scholarships 1350 15227739 X X X true true X X false false false false false false false false false Dr Joseph Stowell President 104980 32695 10927 95000 243602 John VerBerkmoes VP Dean of Seminary 138833 300 21058 160191 Peter Osborn Assoc VP of Adult Lrng 122159 12489 24264 158912 Part I Line 1a Employees who perform teaching or administrative duties at a theological seminary and are officially ordained, licensed, or commissioned may be able to use the Housing Allowance Benefit. Dr. Joseph Stowell, President of Cornerstone University Grand Rapids Theological Seminary, John VerBerkmoes, VP Dean of Seminary, and Peter Osborn, VP for Adult Learning, each received a housing allowance. Part I Line 1a Occasional travel by the President requires his wife to travel with him for donor meetings that are essential to the business of the University. Part I Line 1a The Board of Trustees considers the Presidents membership at a local country club to be critical to furthering the business of the University. 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 0.01840 0.01840 false true A false true true false false false true A true Parent of Students Employee 41501 Dependent tuition remission X 14 441423 closing price on day of donation false true false Form 990, Part VI, Section B, Line 11b 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, Section B, Line 12c In June, the Board members are sent a copy of the policy and are asked to complete the conflict of interest survey on-line. They are asked to complete the conflict of interest survey questions by the end of August. Form 990, Part VI, Section B, Line 15a 15b The independent Executive Committee of the Board determines the wage for the President after reviewing salary comparisons of other like schools. The Vice Presidents wages are recommended by the President and approved by the Executive Committee of the Board. The processes are documented 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 written request. The Form 990 is available on www.guidestar.org. Form 990, Part XII, Line 2c The Finance/Audit Committee of the Board of Trustees assumes the responsibility for oversight of the audit and selection of independent auditors. 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. 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. Form 990, Part VII, Section A, Line 1a Dr. Don Denyes, Artie Lindsay, and David Pray, Trustees, receive compensation from Cornerstone University when they are hired as an adjunct professor to teach one or two courses in a given academic year. The compensation is not related to their role as a Trustee.