The Cornerstone Christian Academy
- Assets
- $4.3m
- Revenue
- $4.8m
- Investments
- $0.0
- Employees
- 44
- Location
- Philadelphia, PA
- Founding
- 10/1988
- Data as of
- 06/2021
- EIN
- 23-2499985
Organization Overview
The Cornerstone Christian Academy is located in Philadelphia, PA. The organization was established in 1988. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2021, Cornerstone Christian Academy employed 44 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cornerstone Christian Academy is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Cornerstone Christian Academy generated $4.8m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.8% each year . All expenses for the organization totaled $3.8m during the year ending 06/2021. While expenses have increased by 7.3% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO EDUCATE CHILDREN INCLUDING THOSE FROM AT-RISK NEIGHBORHOODS, IN AN ENVIRONMENT THAT PROVIDES THE HIGHEST STANDARDS FOR ACADEMIC ACHIEVEMENT AND SPIRITUAL DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
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 $959,000 OF FINANCIAL AID TO EDUCATIONAL NEEDS OF INNER CITY CHILDREN FROM LOW INCOME FAMILIES AT THE BEGINNING OF THE SCHOOL YEAR 2020/21, 163 STUDENTS HAVE BEEN ENROLLED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stacy Niemkiewicz Finance Director/treasurer | Officer | 40 | $75,750 |
Deborah Lee Principal | Officer | 40 | $69,659 |
Daryl Winston CEO - Until May 2021 | Officer | 40 | $52,500 |
Mary Clampet Secretary | OfficerTrustee | 0.3 | $0 |
Wayne Geisser Chairman | OfficerTrustee | 0.3 | $0 |
Peter W Grim Board Member | Trustee | 0.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $435,772 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,805,367 |
| Noncash contributions included in lines 1a–1f | $1,104,376 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,241,139 |
| Total Program Service Revenue | $1,398,854 |
| Investment income | $84,380 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $91,849 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,824,093 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $959,810 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $266,775 |
| Compensation of current officers, directors, key employees. | $89,886 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,322,707 |
| Pension plan accruals and contributions | $9,420 |
| Other employee benefits | $170,959 |
| Payroll taxes | $122,113 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,174 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $27,245 |
| Fees for services: Other | $138,823 |
| Advertising and promotion | $0 |
| Office expenses | $88,138 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $334,999 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $97,925 |
| Insurance | $63,273 |
| All other expenses | $3,800 |
| Total functional expenses | $3,831,308 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $254,388 |
| Savings and temporary cash investments | $146,956 |
| Pledges and grants receivable | $24,725 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $614,615 |
| Investments—publicly traded securities | $3,235,507 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,276,191 |
| Accounts payable and accrued expenses | $170,260 |
| Grants payable | $0 |
| Deferred revenue | $368,370 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $538,630 |
| Net assets without donor restrictions | $2,008,800 |
| Net assets with donor restrictions | $1,728,761 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,276,191 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that The Cornerstone Christian Academy has recieved totaling $51,116.
| Awarding Organization | Amount |
|---|---|
Charities Aid Foundation America Alexandria, VA PURPOSE: CHARITABLE DONATION | $14,979 |
Community Foundation Of New Jersey Morristown, NJ PURPOSE: GENERAL SUPPORT | $10,000 |
Philadelphia Foundation Philadelphia, PA PURPOSE: EDUCATION | $9,500 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $8,750 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $6,437 |
Great Adventure Foundation Irrv Tr Malvern, PA PURPOSE: UNRESTRICTED CONTRIBUTION TO CHARITY | $1,000 |
Endowment Analysis
| Beg. Balance | $778,038 |
| Earnings | $242,640 |
| Ending Balance | $1,020,678 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Executive Education Academy Charter School Allentown, PA | $63,584,076 | $23,169,797 |
Foundation Academy Charter School Trenton, NJ | $16,120,573 | $21,345,321 |
Albany Academy Albany, NY | $58,726,077 | $27,181,105 |
Tatnall School Inc Wilmington, DE | $48,687,568 | $19,526,911 |
Elisabeth Morrow School Englewood, NJ | $43,835,854 | $20,290,882 |
Yeshiva Ktana Of Passaic Passaic, NJ | $33,764,196 | $20,538,079 |
Franklintown Charter High School Philadelphia, PA | $47,616,708 | $24,090,071 |
Nichols School Of Buffalo Buffalo, NY | $102,003,479 | $42,213,694 |
Yeshiva Shaare Torah Inc Brooklyn, NY | $32,363,623 | $20,724,747 |
Yeshivat Heatid Inc Teaneck, NJ | $17,160,980 | $19,921,065 |
Ideal School Of Manhattan New York, NY | $22,538,816 | $19,239,739 |
Peck School Morristown, NJ | $71,516,691 | $18,101,005 |