The Cornerstone School Inc
- Assets
- $6.2m
- Revenue
- $3.4m
- Investments
- $0.0
- Employees
- 72
- Location
- Ocala, FL
- Founding
- 04/1983
- Data as of
- 06/2021
- 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 06/2021, Cornerstone School Inc employed 72 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 06/2021, Cornerstone School Inc generated $3.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.8% each year. All expenses for the organization totaled $3.0m during the year ending 06/2021. While expenses have increased by 6.8% 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
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 | $120,625 |
Bonnie Farr President | OfficerTrustee | 5 | $0 |
Kathy Frances Vice-Preside | OfficerTrustee | 0.5 | $0 |
Angie Jones Secretary | OfficerTrustee | 0.5 | $0 |
Jaclyn Berg Treasurer | OfficerTrustee | 2 | $0 |
David Martin Chair Of Gov | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $41,073 |
| Related organizations | $0 |
| Government grants | $102,511 |
| All other contributions, gifts, grants, and similar amounts not included above | $167,091 |
| Noncash contributions included in lines 1a–1f | $16,023 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $310,675 |
| Total Program Service Revenue | $3,059,730 |
| Investment income | $1,672 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $448 |
| Net Income from Fundraising Events | $14,184 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,387,864 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $170,961 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $140,877 |
| Compensation of current officers, directors, key employees. | $140,877 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,541,510 |
| Pension plan accruals and contributions | $20,178 |
| Other employee benefits | $122,395 |
| Payroll taxes | $123,130 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $17,861 |
| Fees for services: Accounting | $18,996 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $11,283 |
| Office expenses | $110,729 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $205,688 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,196 |
| Interest | $106,043 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $161,496 |
| Insurance | $84,484 |
| All other expenses | $45,445 |
| Total functional expenses | $2,993,845 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,463,132 |
| Savings and temporary cash investments | $687,680 |
| Pledges and grants receivable | $56,166 |
| Accounts receivable, net | $30,570 |
| 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 | $20,172 |
| Net Land, buildings, and equipment | $3,948,356 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $42,265 |
| Other assets | $0 |
| Total assets | $6,248,341 |
| Accounts payable and accrued expenses | $84,766 |
| Grants payable | $0 |
| Deferred revenue | $419,555 |
| 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 | $2,409,348 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,913,669 |
| Net assets without donor restrictions | $3,332,172 |
| Net assets with donor restrictions | $2,500 |
| 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 | $6,248,341 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that The Cornerstone School Inc has recieved totaling $55,175.
| Awarding Organization | Amount |
|---|---|
Mantz Foundation Inc Ocala, FL PURPOSE: TECHNOLOGY NEEDS | $50,000 |
M Austin Davis Foundation Inc Jacksonville, FL PURPOSE: UNSPECIFIED | $5,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $175 |
Endowment Analysis
| Beg. Balance | $2,500 |
| Ending Balance | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Trinity School Inc Atlanta, GA | $133,203,671 | $25,058,941 |
Carrollwood Day School Education Inc Tampa, FL | $44,857,641 | $20,567,249 |
Kipp Jacksonville Inc Jacksonville, FL | $9,839,108 | $19,518,543 |
Randolph School Huntsville, AL | $69,168,210 | $21,425,432 |
Renaissance Arts And Education Inc Palmetto, FL | $29,910,781 | $21,492,050 |
Lakeland Christian School Inc Lakeland, FL | $60,596,367 | $29,249,240 |
Alfred B Maclay Jr Day School Tallahassee, FL | $28,425,288 | $17,967,088 |
North Cobb Christian School Inc Kennesaw, GA | $44,288,708 | $22,180,039 |
Palm Beach Day Academy Inc Palm Beach, FL | $39,954,020 | $18,116,482 |
Rabbi Harry H Epstein School Inc Sandy Springs, GA | $8,141,821 | $15,062,509 |
The Alfred And Adele Davis Academy Inc Atlanta, GA | $60,440,379 | $18,707,941 |
Stratford Academy Inc Macon, GA | $32,525,377 | $15,089,989 |