Cornerstone College Of Virginia
- Assets
- $1.5m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 12
- Location
- Spotsylvania Courthous, VA
- Founding
- 04/1970
- Data as of
- 06/2024
- EIN
- 23-7044656
Organization Overview
Cornerstone College Of Virginia is located in Spotsylvania Courthous, VA. The organization was established in 1970. As of 06/2024, Cornerstone College Of Virginia employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cornerstone College Of Virginia 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 06/2024, Cornerstone College Of Virginia generated $2.1m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 55.6% each year . All expenses for the organization totaled $505.3k during the year ending 06/2024. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TEACHING BIBLE STUDENTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TEACHING BIBLE STUDENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Richard Barnett Chair | OfficerTrustee | 2 | $0 |
Dr Joseph Holmes Board Member | Trustee | 2 | $0 |
Dr Chris Vanbuskirk Treasurer | OfficerTrustee | 10 | $22,980 |
Julie Wallace President | Officer | 40 | $76,200 |
Christopher Voeglin Board Member | Trustee | 2 | $0 |
Glenn Prescott Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $108,132 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $108,132 |
| Total Program Service Revenue | $83,126 |
| Investment income | $32,611 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,257 |
| Net Gain/Loss on Asset Sales | $1,867,995 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,098,175 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $99,180 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $146,591 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $19,064 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,000 |
| Fees for services: Accounting | $8,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $44,986 |
| Office expenses | $3,192 |
| Information technology | $11,824 |
| Royalties | $0 |
| Occupancy | $74,726 |
| Travel | $2,795 |
| 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 | $4,303 |
| Insurance | $2,334 |
| All other expenses | $50,399 |
| Total functional expenses | $505,272 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $78,933 |
| Savings and temporary cash investments | $943,288 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,530 |
| 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 | $4,600 |
| Net Land, buildings, and equipment | $4,945 |
| Investments—publicly traded securities | $496,081 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,730 |
| Total assets | $1,541,107 |
| Accounts payable and accrued expenses | $1,963 |
| Grants payable | $0 |
| Deferred revenue | $930 |
| 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 | $2,893 |
| Net assets without donor restrictions | $1,538,214 |
| Net assets with donor restrictions | $0 |
| 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 | $1,541,107 |
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