The Cornerstone School Inc
- Assets
- $6.6m
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 83
- Location
- Ocala, FL
- Founding
- 04/1983
- Data as of
- 06/2022
- EIN
- 59-2217451
Organization Overview
The Cornerstone School Inc is located in Ocala, FL. The organization was established in 1983. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Cornerstone School Inc employed 83 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cornerstone School 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 06/2022, Cornerstone School Inc generated $3.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.8% each year. All expenses for the organization totaled $3.2m during the year ending 06/2022. While expenses have increased by 6.8% 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
TO INSPIRE STUDENTS TO BE PASSIONATE LEARNERS WHO THINK CREATIVELY AND INDEPENDENTLY, AND TO NURTURE A SENSE OF PURPOSE GUIDED BY VALUES OF TOLERANCE, INTEGRITY AND MUTUAL RESPECT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE A PRIVATE EDUCATIONAL ENVIRONMENT FOR PRESCHOOL THROUGH MIDDLE SCHOOL AGED CHILDREN. THE SCHOOL SERVES APPROXIMATELY 250 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ingrid Wasserfall Director Of | Officer | 40 | $151,028 |
Bonnie Farr President | OfficerTrustee | 5 | $0 |
Kathy Frances Vice-Preside | OfficerTrustee | 0.5 | $0 |
Robert Davies Treasurer | OfficerTrustee | 0.5 | $0 |
Angie Jones Secretary | OfficerTrustee | 0.5 | $0 |
David Martin Chair Of Gov | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $159,464 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $116,651 |
| Noncash contributions included in lines 1a–1f | $40,827 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $276,115 |
| Total Program Service Revenue | $3,446,154 |
| Investment income | $1,008 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$55,096 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,668,998 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $89,493 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $154,965 |
| Compensation of current officers, directors, key employees. | $154,965 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,587,035 |
| Pension plan accruals and contributions | $24,994 |
| Other employee benefits | $97,032 |
| Payroll taxes | $126,218 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,601 |
| Fees for services: Accounting | $23,453 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $14,972 |
| Office expenses | $156,580 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $235,210 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $32,118 |
| Interest | $106,382 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $188,330 |
| Insurance | $97,407 |
| All other expenses | $71,467 |
| Total functional expenses | $3,213,932 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,076,321 |
| Savings and temporary cash investments | $502,780 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $32,873 |
| 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 | $13,260 |
| Net Land, buildings, and equipment | $3,977,455 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $37,184 |
| Other assets | $7,500 |
| Total assets | $6,647,373 |
| Accounts payable and accrued expenses | $145,462 |
| Grants payable | $0 |
| Deferred revenue | $385,668 |
| 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 | $2,326,505 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,857,635 |
| Net assets without donor restrictions | $3,785,538 |
| Net assets with donor restrictions | $4,200 |
| 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 | $6,647,373 |