The Cornerstone Bible College And Seminary
- Assets
- $8.4k
- Revenue
- $275.8k
- Investments
- $0.0
- Employees
- 24
- Location
- Vallejo, CA
- Founding
- 03/2005
- Data as of
- 06/2022
- EIN
- 56-2454734
Organization Overview
The Cornerstone Bible College And Seminary is located in Vallejo, CA. The organization was established in 2005. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2022, Cornerstone Bible College And Seminary employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cornerstone Bible College And Seminary 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 06/2022, Cornerstone Bible College And Seminary generated $275.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.0%) each year. All expenses for the organization totaled $323.4k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (4.4%) per year over the past 7 years. 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
TRAINING OF MEN AND WOMEN FOR MINISTRY IN LOCAL CHURCHES. SPECIFICALLY, PROVIDING A MASTER'S DEGREE LEVEL OF THEOLOGICAL AND PASTORAL TRAINING NECESSARY FOR THE EFFECTIVE TEACHING, PREACHING, MINISTRY AND ADMINISTRATION OF ACTIVITIES RELATED TO THE CARE AND OVERSIGHT OF LOCAL CHURCHES BOTH IN THE UNITED STATES AND AROUND THE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LARGEST COMPONENT OF PROGRAM EXPENSES IS RELATED TO THE PAYMENT OF ONE FULL TIME STAFF MEMBER AND THE ARRAY OF QUALIFIED LOCAL PASTORS THAT COMPRISE THE FACULTY. PASTORS SERVE AS ADJUNCT FACULTY DELIVERING SEGMENTS OF EDUCATIONAL TRAINING COMMENSURATE WITH THE MASTER'S DEGREE ACHIEVED BY EACH GRADUATING STUDENT. REVENUES ARE THE SUM OF TUITION PAID BY THOSE STUDENTS EITHER ON A FULL TIME OF PART TIME SCHEDULE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Todd Bolton Dean Of Students | Officer | 40 | $73,557 |
Ryan Rippee President/ceo | Officer | 20 | $61,440 |
Derek Brown Academic Dean | Officer | 10 | $26,640 |
Cliff Mcmanis Board Secretary | Trustee | 4 | $5,120 |
Phil Foley Treasurer | Trustee | 4 | $1,477 |
Tony Sanelli Board Chairman | Trustee | 4 | $1,399 |
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 | $140,733 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $140,733 |
| Total Program Service Revenue | $135,094 |
| 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 | $275,827 |
| 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. | $169,634 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $53,407 |
| Other salaries and wages | $18,157 |
| Pension plan accruals and contributions | $5,191 |
| Other employee benefits | $1,000 |
| Payroll taxes | $18,849 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,378 |
| Office expenses | $12,791 |
| Information technology | $18,966 |
| Royalties | $0 |
| Occupancy | $4,800 |
| Travel | $5,940 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,918 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $2,400 |
| Total functional expenses | $323,431 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,025 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $380 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,405 |
| Accounts payable and accrued expenses | $0 |
| 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 | $21,854 |
| Total liabilities | $21,854 |
| Net assets without donor restrictions | -$13,449 |
| 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 | $8,405 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that The Cornerstone Bible College And Seminary has recieved totaling $9,185.
| Awarding Organization | Amount |
|---|---|
Chatlos Foundation Inc New York, NY PURPOSE: TO EXPAND EDUCATION AND MINISTRY OPPORTUNITIES FOR MISSIONS EMPHASIS | $9,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $185 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Concordia University Irvine, CA | $216,619,359 | $134,293,913 |
Whittier College Whittier, CA | $322,047,237 | $96,024,170 |
Claremont Graduate University Claremont, CA | $282,759,045 | $94,587,172 |
Soka University Of America Aliso Viejo, CA | $1,933,834,260 | $62,118,050 |
Fresno Pacific University Fresno, CA | $60,393,077 | $83,753,327 |
Mills College Oakland, CA | $350,121,466 | $66,976,273 |
La Sierra University Riverside, CA | $224,274,397 | $79,132,443 |
Cal Poly Corporation San Luis Obispo, CA | $221,621,500 | $66,523,157 |
Chaminade University Of Honolulu Honolulu, HI | $103,384,806 | $64,562,356 |
Golden Gate University San Francisco, CA | $141,254,047 | $81,559,491 |
Holy Names University Oakland, CA | $93,790,592 | $49,885,644 |
Woodbury University Burbank, CA | $66,650,435 | $51,740,863 |