Cornerstone International Inc
- Assets
- $1.2m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 38
- Location
- Wilmore, KY
- Founding
- 08/1972
- Data as of
- 12/2022
- EIN
- 23-7182033
Organization Overview
Cornerstone International Inc is located in Wilmore, KY. The organization was established in 1972. According to its NTEE Classification (X20) the organization is classified as: Christianity, under the broad grouping of Religion-Related and related organizations. As of 12/2022, Cornerstone International Inc employed 38 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cornerstone International Inc 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 12/2022, Cornerstone International Inc generated $2.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 20.9% each year . All expenses for the organization totaled $2.2m during the year ending 12/2022. While expenses have increased by 22.6% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
A MISSION ORGANIZATION FUELED BY PRAYER AND WORSHIP, MOBILIZES PEOPLE TO EVANGELIZE THE NATIONS, LOVING AND SERVING JESUS CHRIST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOUND IN FREEDOM PROJECT EXISTS TO BUILD BRIDGES OF RELATIONSHIP IN THE MIDDLE EAST IN HOPES OF ACHIEVING RECONCILIATION ON BOTH A HUMAN & SPIRITUAL LEVEL. OUR DESIRE IS TO LOVE THE WAY JESUS LOVES, SERVE THE WAY HE SERVED, AND TO SHARE THE TRUTH OF THE GOSPEL AT EVERY TURN. OUR PRAYER IS THAT WE MIGHT WALK INTO ETERNITY WITH SOME OF OUR MIDDLE EASTERN BROTHERS AND SISTERS. PRACTICALLY, THIS IS LEARNING LANGUAGE AND CULTURE AS MUCH AS POSSIBLE, ENGAGING IN OR CREATING A FOR-PROFIT BUSINESS OR NON-PROFIT ORGANIZATION AND PLANTING HOUSE CHURCHES.
ADDITIONAL SERVICES INCLUDE SMALLER PROJECTS IN NORTH AMERICA, SOUTH/CENTRAL AMERICA, AFRICA, ASIA,THE MIDDLE EAST, AND EUROPE: ALL OF THESE PROJECTS PROVIDE SIMILAR AID AS DESCRIBED ABOVE ON A SMALLER SCALE (AROUND 22 ADDITIONAL PROJECTS). PROVIDING MEDICAL ASSISTANCE, SCHOOLING, HOUSING ASSISTANCE IS ALL PART OF THE WORK DONE TO SPREAD THE GOSPEL MESSAGE
THE COSTA RICA PROJECT CONTINUES A MINISTRY TO SINGLE MOTHERS (18-25 YR OLD) AND THEIR CHILDREN IN COSTA RICA. BY MEETING THEIR PHYSICAL, SPIRITUAL AND EDUCATIONAL NEEDS, THE PROJECT HOPES TO RESTORE, REBUILD, AND TRANSFORM LIVES AND HELP REDUCE BARRIERS TO SELF-SUFFICIENCY.
SHEPHERD'S HEART IS INVOLVED IN MOBILIZING THE BODY OF CHRIST FOR MISSIONS. THIS INCLUDES NETWORKING, DEVELOPING PARTNERSHIPS, WORKING WITH SENIOR PASTORS AND CHURCH MISSION COMMITTEES, TEACHING, PREACHING AND COACHING. SHEPHERD'S HEART IS INVOLVED WITH EACH STAGE OF THE PROCESS WHEN SOMEONE IS CONSIDERING JOINING CORNERSTONE FROM INITIAL CONTACT THROUGH CANDIDACY AND APPROVAL, ORIENTATION, TRAINING, SUPPORT RAISING AND DEPLOYMENT. SHEPHERD'S HEART IS ALSO INVOLVED IN MEMBER CARE WITH MISSIONARIES ON THE FIELD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Henderson Board Chair | OfficerTrustee | 1 | $0 |
Ray Smith Board Member | Trustee | 0.5 | $0 |
Stephanie Smith Board Secretary | OfficerTrustee | 0.75 | $0 |
Eduane Jones Past Ci President | Trustee | 0.5 | $0 |
Suzanne Jones Ci V Pres/coo | Officer | 40 | $26,476 |
Craig Garrison President | Officer | 40 | $77,616 |
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 | $2,160,354 |
| Noncash contributions included in lines 1a–1f | $4,427 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,160,354 |
| Total Program Service Revenue | $0 |
| Investment income | $39,116 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,110,501 |
| 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. | $104,092 |
| Compensation of current officers, directors, key employees. | $64,475 |
| Compensation to disqualified persons | $1,267,492 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $129,299 |
| Payroll taxes | $64,719 |
| Fees for services: Management | $26,090 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,711 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $90,336 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $26,370 |
| Travel | $320,432 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,493 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,202,733 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $240,292 |
| Savings and temporary cash investments | $704,778 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,500 |
| 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 | $266,375 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,215,945 |
| Accounts payable and accrued expenses | $161,681 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $161,681 |
| Net assets without donor restrictions | $252,706 |
| Net assets with donor restrictions | $801,558 |
| 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 | $1,215,945 |