Cornerstone Schools Of Washington Dc Inc
- Assets
- $771.8k
- Revenue
- $2.6m
- Investments
- $9.9k
- Employees
- 49
- Location
- Washington, DC
- Founding
- 11/1998
- Data as of
- 07/2021
- EIN
- 52-2084049
Organization Overview
Cornerstone Schools Of Washington Dc Inc is located in Washington, DC. The organization was established in 1998. 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 07/2021, Cornerstone Schools Of Washington DC Inc employed 49 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cornerstone Schools Of Washington DC 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 07/2021, Cornerstone Schools Of Washington DC Inc generated $2.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.5% each year. All expenses for the organization totaled $2.7m during the year ending 07/2021. While expenses have increased by 10.2% 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
THROUGH A PARTNERSHIP OF FAMILY, SCHOOL AND COMMUNITY, CORNERSTONE PROVIDES A CHRIST-CENTERED, NURTURING, AND ACADEMICALLY RIGOROUS EDUCATION TO THE CHILDREN OF WASHINGTON DC, EQUIPPING THEM WITH THE KNOWLEDGE, SKILLS AND
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SCHOOL PROVIDES AN OPPORTUNITY FOR CHRISTIAN EDUCATION FOR LOW-INCOME CHILDREN. DURING THE CURRENT YEAR THE SCHOOL HAD 163 STUDENTS FROM THE METRO AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Derrick Max Executive Director | Officer | 40 | $115,881 |
Dan Smith Treasurer | OfficerTrustee | 5 | $0 |
Jeff Wood President | OfficerTrustee | 5 | $0 |
Rickey Bolden Vice President | OfficerTrustee | 5 | $0 |
Brett Bloom Secretary | OfficerTrustee | 5 | $0 |
Ed Franceski Director | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $311,385 |
| All other contributions, gifts, grants, and similar amounts not included above | $921,138 |
| Noncash contributions included in lines 1a–1f | $44,995 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,232,523 |
| Total Program Service Revenue | $1,390,672 |
| Investment income | $641 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $360 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,624,196 |
| 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. | $237,551 |
| Compensation of current officers, directors, key employees. | $83,143 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,267,692 |
| Pension plan accruals and contributions | $30,385 |
| Other employee benefits | $124,788 |
| Payroll taxes | $127,996 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,788 |
| 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 | $56,046 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $466,311 |
| 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 | $22,291 |
| Insurance | $21,926 |
| All other expenses | $13,982 |
| Total functional expenses | $2,682,901 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,077 |
| Savings and temporary cash investments | $355,500 |
| Pledges and grants receivable | $22,500 |
| Accounts receivable, net | $15,821 |
| 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 | $285,596 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $9,900 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $78,400 |
| Total assets | $771,794 |
| Accounts payable and accrued expenses | $147,190 |
| 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 | $147,190 |
| Net assets without donor restrictions | $568,607 |
| Net assets with donor restrictions | $55,997 |
| 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 | $771,794 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Cornerstone Schools Of Washington Dc Inc has recieved totaling $103,315.
| Awarding Organization | Amount |
|---|---|
Ortner Family Foundation Mclean, VA PURPOSE: GENERAL PURPOSE | $50,000 |
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: GROWTH | $21,600 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $12,400 |
Ayco Charitable Foundation Cohoes, NY PURPOSE: EDUCATION | $10,000 |
Hemp-Corley Foundation Whitefish, MT PURPOSE: MISSIONARY ACTIVITIES | $6,000 |
Gordon V & Helen C Smith Foundation Potomac, MD PURPOSE: GENERAL SUPPORT | $3,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Milton Gottesman Jewish Day School Of The Nations Capital Washington, DC | $47,850,998 | $22,230,618 |
Imagine Schools Inc Vienna, VA | $112,554,052 | $31,881,932 |
Meridian Public Charter School Washington, DC | $25,835,715 | $17,496,957 |
St Paul's School For Girls Inc Brooklandville, MD | $0 | $15,914,099 |
St Johns Community Services - District Of Columbia Washington, DC | $113,804 | $20,352,755 |
Saint James School Inc Hagerstown, MD | $77,226,869 | $20,561,499 |
International Institute Of Islamic Thought Herndon, VA | $897,003 | $10,094,733 |
Trinity Christian School Of Fairfax Fairfax, VA | $27,153,540 | $15,467,946 |
National School Boards Association Inc Alexandria, VA | $12,371,027 | $15,111,042 |
Corporation Of St Timothys School Stevenson, MD | $46,264,557 | $12,305,886 |
Hampton Roads Academy Newport News, VA | $24,546,952 | $14,722,729 |
The J127 Education Foundation Fairfax, VA | $24,052,586 | $14,577,728 |