2017-01-10T15:25:37-06:00 2016-06-30 231909723 MCKONLY & ASBURY LLP 415 FALLOWFIELD ROAD CAMP HILL PA 17011 990 2015-07-01 232499985 CORNERSTONE CHRISTIAN ACADEMY CORN 6105394136 1939 S 58TH STREET PHILADELPHIA PA 19143 DENNY HORNER TREASURER 6105394136 2017-01-10 1 GARY J DUBAS P00252339 7177617910 X 2015 2017-02-10 21:41:12Z DENNY HORNER 186 S MIDLAND AVE AUDUBON PA 19403 2344455 0 X WWW.CORNERSTONEPHILADELPHIA.COM X 1987 PA TO EDUCATE CHILDREN INCLUDING THOSE FROM AT-RISK NEIGHBORHOODS, IN AN ENVIRONMENT THAT PROVIDES THE HIGHEST STANDARDS FOR ACADEMIC ACHIEVEMENT AND SPIRITUAL DEVELOPMENT. 20 19 59 150 0 0 1986230 1595052 608639 721701 19604 22604 5601 5098 2620074 2344455 0 0 0 0 1638714 1782882 0 0 37325 567604 721819 2206318 2504701 413756 -160246 2760552 2619882 169178 192797 2591374 2427085 TO EDUCATE CHILDREN INCLUDING THOSE FROM AT-RISK NEIGHBORHOODS, IN AN ENVIRONMENT THAT PROVIDES THE HIGHEST STANDARDS FOR ACADEMIC ACHIEVEMENT AND SPIRITUAL DEVELOPMENT. 0 0 1609025 726799 TO EDUCATE CHILDREN, INCLUDING THOSE FROM AT-RISK NEIGHBORHOODS, IN AN ENVIRONMENT THAT PROVIDES THE HIGHEST STANDARDS FOR ACADEMIC ACHIEVEMENT AND SPIRITUAL DEVELOPMENT. PROVIDED OVER $719,000 OF FINANCIAL AID TO EDUCATIONAL NEEDS OF INTER CITY CHILDREN FROM LOW INCOME FAMILIES. AT THE BEGINNING OF THE SCHOOL YEAR 2014/15, 232 STUDENTS HAVE BEEN ENROLLED. 1609025 1 1 0 0 0 0 0 0 0 1 1 0 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 1 0 0 1 59 1 0 0 0 0 0 0 0 0 0 0 X 20 19 1 0 0 0 0 0 1 1 1 0 0 1 1 1 1 1 1 1 0 0 X BUSINESS MANAGER 6105394136 186 S MIDLAND AVE AUDUBON PA 19403 PETER W GRIM BOARD CHAIR 0.30 X X 0 0 0 DENNIS HORNER TREASURER 5.00 X X 0 0 0 MARY CLAMPET SECRETARY 0.30 X X 0 0 0 REV DR ANITA M BELL BOARD MEMBER 0.30 X 0 0 0 RONALD BOND BOARD MEMBER 0.30 X 0 0 0 DONNELL SHEPPARD BOARD MEMBER 0.30 X 0 0 0 MAROSSA DAVIS BOARD MEMBER 0.30 X 0 0 0 KENNETH C FRAZIER ESQ BOARD MEMBER 0.30 X 0 0 0 WAYNE GEISSER VICE-CHAIR 0.30 X X 0 0 0 CYNTHIA HANSCOM BOARD MEMBER 0.30 X 0 0 0 DARYL MARTINO BOARD MEMBER 0.30 X 0 0 0 JAMES W SUMMERS BOARD MEMBER 0.30 X 0 0 0 KEVIN BLACKNEY BOARD MEMBER 0.30 X 0 0 0 REBECCA CLAYTON ESQ BOARD MEMBER 0.30 X 0 0 0 DR JANICE BOWDRE BOARD MEMBER 0.30 X 0 0 0 CASEY DUNN BOARD MEMBER 0.30 X 0 0 0 WILLIAM P SIMON JR BOARD MEMBER 0.30 X 0 0 0 JAMES J DOLENTE SR BOARD MEMBER 1.30 X 0 0 0 CHARLES A OLSON III BOARD MEMBER 2.30 X 0 0 0 RICHARD D SCOTT BOARD MEMBER 3.30 X 0 0 0 DEBORAH LEE PRINCIPAL 40.00 X 62906 0 597 RICHARD R OLLINGER PRESIDENT/CEO 40.00 X 89102 0 850 152008 0 1447 0 0 0 0 0 1595052 68430 1595052 TUITION AND FEES 900099 638947 638947 STUDENT TRIPS AND CAMP 900099 82754 82754 721701 22604 22604 MISCELLANEOUS INCOME 900099 5098 5098 5098 2344455 726799 0 22604 152008 99199 52809 1630874 1064296 566578 15600 7800 7800 9804 4902 4902 84938 42469 42469 170368 95184 75184 76112 38056 38056 46957 23478 23479 CLASSROOM AND LEARNING 115674 115674 BAD DEBTS 47074 47074 SUMMER SCHOOL AND PAREN 37396 37396 FUNDRAISING 37325 37325 80571 80571 2504701 1609025 858351 37325 44049 55397 632442 860819 742172 152137 54516 14633 0 1583 1692484 647736 992763 1044748 294610 490565 2760552 2619882 156142 190573 13036 2224 169178 192797 X 271151 96055 2270223 2281030 50000 50000 2591374 2427085 2760552 2619882 -160246 -4043 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 294610 200000 -4045 490565 101620 196200 -3210 294610 91666 9954 101620 82715 8951 91666 84035 -1320 82715 0.10000 0.90000 1 0 16875 16875 574121 284371 289750 814178 263195 550983 149889 100170 49719 137421 137421 1044748 BENEFICIAL INTEREST IN ENDOWMENT FUND 490565 490565 X 2340410 -4045 -4045 2344455 0 2344455 2504701 0 2504701 0 2504701 PART V, LINE 4: BENEFICIAL INTEREST IN ENDOWMENT FUND THE INCOME AND/OR GAIN EARNED BY THE ENDOWMENT FUND IS CONSIDERED UNRESTRICTED REVENUE AND MAY BE DISTRIBUTED TO CCA AS GENERAL SUPPORT REVENUE FOR ITS PROGRAMS. ON AT LEAST AN ANNYAL BASIS THE FINANCE COMMITTEE OF THE BOARD SHALL RECOMMEND TO THE BOARD AN AMOUNT TO BE TRANSFERRED FROM THE UNRESTRICTED INCOME AND/OR GAIN OF THE ENDOWMENT FUND TO THE GENERAL OPERATING FUND. AT NO TIME SHALL THE PERMANENTLY-RESTRICTED ORIGINAL CONTRIBUTIONS TO THE ENDOWMENT FUND BE USED. AS A MATTER OF PRUDENCE, THE SPENDING RATE SHALL NOT EXCEED 4% OF THE FISCAL YEAR-END BALANCE OF THE FUND. PART X, LINE 2: THE ACADEMY ADHERES TO THE PROVISIONS OF FASB ASC 740, INCOME TAXES (ASC 740). ASC 740 ESTABLISHES RULES FOR RECOGNIZING AND MEASURING TAX POSITIONS TAKEN IN AN INCOME TAX RETURN, INCLUDING DISCLOSURES OF UNCERTAIN TAX POSITIONS (UTPS). ASC 740 MANDATES THAT COMPANIES EVALUATE ALL MATERIAL INCOME TAX POSITIONS FOR PERIODS THAT REMAIN OPEN UNDER APPLICABLE STATUTES OF LIMITATION, AS WELL AS POSITIONS EXPECTED TO BE TAKEN IN FUTURE RETURNS. THE UTP RULES THEN IMPOSE A RECOGNITION THRESHOLD ON EACH TAX POSITION. A COMPANY CAN RECOGNIZE AN INCOME TAX BENEFIT ONLY IF THE POSITION HAS A "MORE LIKELY THAN NOT" (I.E., MORE THAN 50 PERCENT) CHANCE OF BEING SUSTAINED ON ITS TECHNICAL MERITS. FOR THE YEARS ENDED JUNE 30, 2016 AND 2015, THE ACADEMY HAS TAKEN NO MATERIAL TAX POSITIONS ON ITS APPLICABLE TAX FILINGS THAT DO NOT MEET THE MORE LIKELY THAN NOT THRESHOLD. AS A RESULT, NO AMOUNT FOR UTPS HAS BEEN INCLUDED IN THE FINANCIAL STATEMENTS. THE ACADEMY BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS PRIOR TO 2013. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE PURPOSE OF THE SCHOOL IS TO EDUCATE CHILDREN INCLUDING THOSE FROM AT-RISK NEIGHBORHOODS, IN AN ENVIRONMENT THAT PROVIDES THE HIGHEST STANDARDS FOR ACADEMIC ACHIEVEMENT AND SPIRITUAL DEVELOPMENT. KEVIN BLACKNEY CO-OWNER; PARTNER IN FIRM BLACKNEY HAYES ARCHITECTS 10902 THE ACADEMY PAID $10,902 FOR SERVICES, CONSULTING AND MATERIAL TO THE FIRM. 0 X 6 68430 FAIR VALUE 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 THE BUSINESS MANAGER, NORMA HORNER IS THE WIFE OF THE TREASURER, DENNIS HORNER. FORM 990, PART VI, SECTION A, LINE 7B ANY MAJOR DECISIONS BY MANAGEMENT MUST GET APPROVED BY THE BOARD. FORM 990, PART VI, SECTION B, LINE 11 A COPY OF THE COMPLETED FORM 990 AND RELATED SCHEDULES IS REVIEWED BY THE TREASURER. THE FINANCE COMMITTEE REVIEWS AND APPROVES THE FINAL COPY OF THE IRS FORM 990 AND RELATED SCHEDULES AND THE FINAL COPY IS PROVIDED TO EACH MEMBER OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY WITH EMPLOYEES AND BOARD MEMBERS. NEW BOARD MEMBERS ARE INFORMED OF THE POLICY WHEN THEY JOIN THE BOARD. FORM 990, PART VI, SECTION B, LINE 15A COMPENSATION IS REVIEWED ANNUALLY BY THE FULL BOARD OF TRUSTEES. THE BOARD USES COMPARABILITY DATA FROM THE "EVANGELICAL COUNCIL OF FINANCIAL ACCOUNTABILITY", THE ASSOCIATION OF CHRISTIAN SCHOOLS INTERNATIONAL (ACSI), AND THE PHILADELPHIA ASSOCIATION OF INDEPENDENT SCHOOL BUSINESS OFFICERS (PAISBOA). FORM 990, PART VI, SECTION C, LINE 19 UPON WRITTEN REQUEST. THEY MAY ALSO VIEW THE DOCUMENTS IN THE OFFICE OF MANAGEMENT. PART XII, 2C THE EXECUTIVE COMMITTEE ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT.