CORNERSTONE ACADEMY INC: Form 990, tax year 2015
View the entire original 990 at ProPublica ↗
- Organization
- CORNERSTONE ACADEMY INC (EIN 74-3169328)
- Tax period
- 2015-07-01 to 2016-06-30
- Filed
- 2017-05-04
- IRS object ID
- 201741249349301104
- Schema version
- 2015v3.0
- 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 | 2017-05-04T08:58:59-04:00 | ReturnTs |
| Tax Period End | 2016-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | HILL & ADAMS CPA'S | 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 | 2015-07-01 | 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 | 2017-05-04 | 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 | 2017-05-04 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2015 | TaxYr |
| Build TS | 2021-01-29 14:40:06Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Special Condition | AMENDED RETURN | SpecialConditionDesc |
| Address Change | Yes (X) | AddressChangeInd |
| Amended Return | Yes (X) | AmendedReturnInd |
| 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 | $8,717,757 | 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 | 53 | TotalEmployeeCnt |
| Total Volunteers | 8 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| PY Contributions Grants | $438,387 | PYContributionsGrantsAmt |
| CY Contributions Grants | $7,295,948 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $885,166 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $1,120,855 | CYProgramServiceRevenueAmt |
| CY Investment Income | -$125,535 | CYInvestmentIncomeAmt |
| PY Other Revenue | -$46,549 | PYOtherRevenueAmt |
| CY Other Revenue | $102,221 | CYOtherRevenueAmt |
| PY Total Revenue | $1,277,004 | PYTotalRevenueAmt |
| CY Total Revenue | $8,393,489 | CYTotalRevenueAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $779,845 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $828,132 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $479,522 | PYOtherExpensesAmt |
| CY Other Expenses | $632,438 | CYOtherExpensesAmt |
| PY Total Expenses | $1,259,367 | PYTotalExpensesAmt |
| CY Total Expenses | $1,460,570 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $17,637 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $6,932,919 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $3,532,650 | TotalAssetsBOYAmt |
| Total Assets EOY | $10,893,612 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $2,569,194 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $2,997,237 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $963,456 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $7,896,375 | 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 | $1,460,570 | ExpenseAmt |
| Revenue | $1,120,855 | 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) |
|---|---|---|
| Desc | CHRIST-CENTERED, CLASSICAL EDUCATION | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $1,460,570 | 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 | Yes (true) | 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 | Yes (true) | 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 | 1 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 53 | 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 (4 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 | $1,813,055 |
| TRANE US INC | |||||
| PO BOX 406469 | ATLANTA | GA | 30384 | HVAC | $464,231 |
| INTERSTATE STEEL CORPORATION | |||||
| PO BOX 472 | SEYMOUR | TN | 37865 | CONSTRUCTION | $147,000 |
| THE LEWIS GROUP ARCHITECTS INC PC | |||||
| 6512 DEANE HILL DR | KNOXVILLE | TN | 37919 | ARCHITECTURAL | $124,749 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 4 | CntrctRcvdGreaterThan100KCnt |
| Fundraising | $33,778 | FundraisingAmt |
| All Other Contributions | $7,262,170 | AllOtherContributionsAmt |
| Noncash Contributions | $3,420,800 | NoncashContributionsAmt |
| Total Contributions | $7,295,948 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (5 entries)
| DescDesc | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|
| ACADEMIC TUITION & FEES | $984,209 | $984,209 |
| LUNCH PROGRAM | $73,970 | $73,970 |
| ATHLETIC PROGRAMS | $16,144 | $16,144 |
| FINE ARTS PROGRAMS | $14,557 | $14,557 |
| JOURNALISM PROGRAM | $9,529 | $9,529 |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $22,446 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $22,446 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $1,120,855 | TotalProgramServiceRevenueAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $100,000 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $225,535 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | -$125,535 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$125,535 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | -$125,535 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fundraising Gross Income | $200,954 | FundraisingGrossIncomeAmt |
| Contri Rpt Fundraising Event | $33,778 | ContriRptFundraisingEventAmt |
| Fundraising Direct Expenses | $98,733 | FundraisingDirectExpensesAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $102,221 | TotalRevenueColumnAmt |
| Exclusion | $102,221 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $8,393,489 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $995,320 | RelatedOrExemptFuncIncomeAmt |
| Exclusion | $102,221 | ExclusionAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $762,075 | TotalAmt |
| Program Services | $762,075 | ProgramServicesAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,850 | TotalAmt |
| Program Services | $6,850 | ProgramServicesAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $59,207 | TotalAmt |
| Program Services | $59,207 | ProgramServicesAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,468 | TotalAmt |
| Program Services | $7,468 | ProgramServicesAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $15,796 | TotalAmt |
| Program Services | $15,796 | ProgramServicesAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $32,223 | TotalAmt |
| Program Services | $32,223 | ProgramServicesAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $25,894 | TotalAmt |
| Program Services | $25,894 | ProgramServicesAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $95,722 | TotalAmt |
| Program Services | $95,722 | ProgramServicesAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,488 | TotalAmt |
| Program Services | $3,488 | ProgramServicesAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,445 | TotalAmt |
| Program Services | $2,445 | ProgramServicesAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $121,431 | TotalAmt |
| Program Services | $121,431 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $95,242 | TotalAmt |
| Program Services | $95,242 | ProgramServicesAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $32,876 | TotalAmt |
| Program Services | $32,876 | ProgramServicesAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt |
|---|---|---|
| STUDENT ACTIVITIES | $59,089 | $59,089 |
| LUNCHROOM EXPENSES | $54,178 | $54,178 |
| CURRICULUM | $29,752 | $29,752 |
| ATHLETICS EXPENSES | $16,840 | $16,840 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $39,994 | TotalAmt |
| Program Services | $39,994 | ProgramServicesAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,460,570 | TotalAmt |
| Program Services | $1,460,570 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $120,905 | BOYAmt |
| EOY | $495,840 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $3,420,178 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $621,818 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,112,370 | BOYAmt |
| EOY | $2,798,360 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $22,858 | BOYAmt |
| EOY | $21,566 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $276,517 | BOYAmt |
| EOY | $7,577,846 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,532,650 | BOYAmt |
| EOY | $10,893,612 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $74,042 | BOYAmt |
| EOY | $572,277 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $173,326 | BOYAmt |
| EOY | $198,558 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,321,826 | BOYAmt |
| EOY | $2,226,309 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $93 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,569,194 | BOYAmt |
| EOY | $2,997,237 | 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 | $963,456 | BOYAmt |
| EOY | $7,896,375 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $963,456 | BOYAmt |
| EOY | $7,896,375 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,532,650 | BOYAmt |
| EOY | $10,893,612 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $6,932,919 | ReconcilationRevenueExpnssAmt |
| 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
CY Endwmt Fund CYEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $25,000 | BeginningYearBalanceAmt |
| Contributions | $2,250 | ContributionsAmt |
| Grants Or Scholarships | $25,145 | GrantsOrScholarshipsAmt |
| End Year Balance | $2,105 | EndYearBalanceAmt |
CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $25,780 | BeginningYearBalanceAmt |
| Contributions | $38,478 | ContributionsAmt |
| Grants Or Scholarships | $39,258 | GrantsOrScholarshipsAmt |
| End Year Balance | $25,000 | EndYearBalanceAmt |
CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $46,431 | BeginningYearBalanceAmt |
| Contributions | $6,640 | ContributionsAmt |
| Grants Or Scholarships | $27,291 | GrantsOrScholarshipsAmt |
| End Year Balance | $25,780 | EndYearBalanceAmt |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributions | $46,431 | ContributionsAmt |
| End Year Balance | $46,431 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Prmnnt Endowment Balance EOY | 1.00000 | PrmnntEndowmentBalanceEOYPct |
| Endowments Held Unrelated Org | false | EndowmentsHeldUnrelatedOrgInd |
| Endowments Held Related Org | false | EndowmentsHeldRelatedOrgInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $487,200 | OtherCostOrOtherBasisAmt |
| Book Value | $487,200 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,775,120 | OtherCostOrOtherBasisAmt |
| Depreciation | $507,690 | DepreciationAmt |
| Book Value | $2,267,430 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $32,739 | OtherCostOrOtherBasisAmt |
| Depreciation | $8,367 | DepreciationAmt |
| Book Value | $24,372 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $125,119 | OtherCostOrOtherBasisAmt |
| Depreciation | $105,761 | DepreciationAmt |
| Book Value | $19,358 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $2,798,360 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp (3 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| CONSTRUCTION IN PROGRESS | $4,155,578 |
| LAND - DONATED | $3,420,800 |
| OVERPAYMENTS | $1,468 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $7,577,846 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER LIABILITIES | Desc |
| Amt | $93 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $93 | TotalLiabilityAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE D, PAGE 2, PART V, LINE 4 | FormAndLineReferenceDesc |
| Explanation | SCHOLARSHIPS FOR ELIGIBLE STUDENTS. | ExplanationTxt |
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 | $126,893 | GrossReceiptsEvent1Amt |
| Charitable Contri Event1 | $25,583 | CharitableContriEvent1Amt |
| Gross Revenue Event1 | $101,310 | GrossRevenueEvent1Amt |
| Rent Facility Costs Event1 | $2,778 | RentFacilityCostsEvent1Amt |
| Food And Beverage Event1 | $9,956 | FoodAndBeverageEvent1Amt |
| Entertainment Event1 | $19,380 | EntertainmentEvent1Amt |
| Other Direct Expenses Event1 | $34,163 | OtherDirectExpensesEvent1Amt |
| Event2 | GOLF TOURNEY | Event2Nm |
| Gross Receipts Event2 | $71,865 | GrossReceiptsEvent2Amt |
| Charitable Contri Event2 | $7,665 | CharitableContriEvent2Amt |
| Gross Revenue Event2 | $64,200 | GrossRevenueEvent2Amt |
| Non Cash Prizes Event2 | $5,392 | NonCashPrizesEvent2Amt |
| Rent Facility Costs Event2 | $2,816 | RentFacilityCostsEvent2Amt |
| Other Direct Expenses Event2 | $3,710 | OtherDirectExpensesEvent2Amt |
| Other Events Total | 2 | OtherEventsTotalCnt |
| Gross Receipts Other Events | $35,974 | GrossReceiptsOtherEventsAmt |
| Charitable Contri Other Events | $530 | CharitableContriOtherEventsAmt |
| Gross Revenue Other Events | $35,444 | GrossRevenueOtherEventsAmt |
| Non Cash Prizes Other Events | $260 | NonCashPrizesOtherEventsAmt |
| Oth Direct Expnss Other Events | $20,278 | OthDirectExpnssOtherEventsAmt |
| Gross Receipts Total | $234,732 | GrossReceiptsTotalAmt |
| Charitable Contributions Tot | $33,778 | CharitableContributionsTotAmt |
| Gross Revenue Total Events | $200,954 | GrossRevenueTotalEventsAmt |
| Non Cash Prizes Total Events | $5,652 | NonCashPrizesTotalEventsAmt |
| Rent Fclty Costs Total Events | $5,594 | RentFcltyCostsTotalEventsAmt |
| Food And Beverage Total Events | $9,956 | FoodAndBeverageTotalEventsAmt |
| Entertainment Total Events | $19,380 | EntertainmentTotalEventsAmt |
| Oth Direct Expnss Total Events | $58,151 | OthDirectExpnssTotalEventsAmt |
| Direct Expense Summary Events | $98,733 | DirectExpenseSummaryEventsAmt |
| Net Income Summary | $102,221 | NetIncomeSummaryAmt |
Schedule M IRS990ScheduleM
Real Estate Commercial RealEstateCommercialGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 1 | ContributionCnt |
| Noncash Contributions Rpt F990 | $3,420,800 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | PROPERTY TAX VALUATIONS | MethodOfDeterminingRevenuesTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Any Property That Must Be Held | false | AnyPropertyThatMustBeHeldInd |
| Review Process Unusual NC Gifts | Yes (true) | ReviewProcessUnusualNCGiftsInd |
| Third Parties Used | false | ThirdPartiesUsedInd |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PAGE 1, ITEM B | A SALE OF A FIXED ASSET WAS NOT INCLUDED ON THE ORIGINAL RETURN. THIS AMENDED RETURN INCLUDES THE SALE OF A MODULAR BUILDING. |
| 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. |
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