Three Pillars - An Educational Services Provider
- Assets
- $4.3m
- Revenue
- $27.8m
- Investments
- $0.0
- Employees
- 701
- Location
- Royal Oak, MI
- Founding
- 02/2014
- Data as of
- 06/2021
- EIN
- 27-0634528
Organization Overview
Three Pillars - An Educational Services Provider, operating under the name Cornerstone Education Group Cornerstone Charter Schools Management Company And Cornerstone Charter Schools, is located in Royal Oak, MI. The organization was established in 2014. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2021, Cornerstone Education Group Cornerstone Charter Schools Management Company And Cornerstone Charter Schools employed 701 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cornerstone Education Group Cornerstone Charter Schools Management Company And Cornerstone Charter Schools 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 Education Group Cornerstone Charter Schools Management Company And Cornerstone Charter Schools generated $27.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.8% each year . All expenses for the organization totaled $26.7m during the year ending 06/2021. While expenses have increased by 11.9% 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.
Since 2015, Cornerstone Education Group Cornerstone Charter Schools Management Company And Cornerstone Charter Schools has awarded 13 individual grants totaling $2,899,914. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE QUALITY EDUCATIONAL, OPERATIONAL, FINANCIAL AND MANAGEMENT SERVICES TO PUBLIC SCHOOL ACADEMIES AND OTHER INSTITUTIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CORNERSTONE EDUCATION GROUP PROVIDED COMPREHENSIVE OPERATIONAL SERVICES TO CHARTER SCHOOLS OPERATING IN THE METRO DETROIT AREA. CORNERSTONE'S ACTIVITIES ALLOW THESE CHARTER SCHOOLS TO MAXIMIZE THEIR EFFECTIVENESS IN PROVIDING A QUALITY EDUCATION TO ALL STUDENTS AT THE LOWEST POSSIBLE COST. CORNERSTONE EDUCATION GROUP SPECIALIZES IN CREATIVE EDUCATIONAL PROGRAMMING THAT FOCUSES ON THE CONCEPT THAT LEARNING COMES FROM PASSION. THIS PROCESS IS CONSTANTLY EVOLVING TO MIRROR EDUCATIONAL, INDIVIDUAL, AND SOCIETAL SHIFTS, PROVIDING A HIGH-TECH, ENGAGING LEARNING EXPERIENCE DESIGNED TO HELP CHILDREN ON ALL LEVELS. CORNERSTONE SUPPLIES EVERY PROGRAM AND SERVICE NECESSARY TO ENSURE STUDENT SUCCESS, INCLUDING SPECIALIZED INSTRUCTION IN THE AREAS OF CHARACTER AND COMMUNITY SERVICE EDUCATION. AT CORNERSTONE, WE ARE MOTIVATED BY A DESIRE TO SEE STUDENTS THRIVE AND FULFILL THEIR UNIQUE POTENTIAL. WE ALSO SERVE AS THE EMPLOYER FOR THE CHARTER SCHOOLS' STAFF, WHICH PROVIDES A MECHANISM FOR THE SCHOOLS TO GENERATE EMPLOYEE BENEFIT PROGRAMS IN A COST EFFECTIVE MANNER.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Nicholson Board Member | Trustee | 1 | $0 |
Clark Durant Chairman / Chief Executive Officer | OfficerTrustee | 1 | $0 |
Jason Cardew Board Member | Trustee | 1 | $0 |
Kathleen Gilmore Secretary | OfficerTrustee | 1 | $0 |
Robert Pulte Treasurer | OfficerTrustee | 1 | $0 |
David Breen Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cornerstone School Association Building Rental | 6/29/21 | $249,625 |
New Common School Foundation Various Building Services | 6/29/21 | $200,057 |
Unique Compliance Services Special Education And Social Worker Serv | 6/29/21 | $230,963 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $27,789,586 |
| Investment income | $0 |
| 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 | $27,789,586 |
| Statement of Expenses | |
|---|---|
| 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. | $1,695,030 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $21,294,647 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $234,849 |
| Payroll taxes | $243,779 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $82,698 |
| Fees for services: Accounting | $26,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $217,576 |
| Advertising and promotion | $201,622 |
| Office expenses | $211,809 |
| Information technology | $198,360 |
| Royalties | $0 |
| Occupancy | $77,886 |
| Travel | $53 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $341,647 |
| Interest | $24,626 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $137,290 |
| Insurance | $223,784 |
| All other expenses | $0 |
| Total functional expenses | $26,704,005 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,657 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,078,214 |
| 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 | $126,343 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,000 |
| Total assets | $4,279,920 |
| Accounts payable and accrued expenses | $1,768,620 |
| Grants payable | $0 |
| Deferred revenue | $46,175 |
| 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 | $1,814,795 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $2,465,125 |
Grants Awarded
Over the last fiscal year, Three Pillars - An Educational Services Provider has awarded $731,926 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
CONERSTONE HEALTH AND TECHNOLOGY SCHOOL PURPOSE: TO SUPPORT EDUCATIONAL PROGRAMMING | $56,926 |
CONERSTONE JEFFERSON-DOUGLASS ACADEMY PURPOSE: TO SUPPORT EDUCATIONAL PROGRAMMING | $110,000 |
WASHINGTON-PARKS ACADEMY PURPOSE: TO SUPPORT EDUCATIONAL PROGRAMMING | $400,000 |
MADISON CARVER ACADEMY PURPOSE: TO SUPPORT EDUCATIONAL PROGRAMMING | $165,000 |