Cornerstone Academy And Ministries Inc
- Assets
- $241.4k
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 46
- Location
- Gainesville, FL
- Founding
- 08/2001
- Data as of
- 06/2022
- EIN
- 59-3646631
Organization Overview
Cornerstone Academy And Ministries Inc is located in Gainesville, FL. The organization was established in 2001. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. As of 06/2022, Cornerstone Academy And Ministries Inc employed 46 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cornerstone Academy And Ministries 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 Academy And Ministries Inc generated $1.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $1.1m during the year ending 06/2022. 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
CORNERSTONE ACADEMY'S MISSION IS TO ASSIST IN PROVIDING AN EXCELLENT CLASSICAL EDUCATION AND IN BUILDING GODLY CHARACTER FOUNDED ON A BIBLICAL WORLDVIEW RESULTING IN PASSIONATE DISCIPLES OF JESUS CHRIST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PRIMARY PURPOSE OF CORNERSTONE ACADEMY AND MINISTRIES, INC, IS AS FOLLOWS: 1TO PROVIDE EDUCATIONAL SERVICES INCLUDING BUT NOT LIMITED TO PRESCHOOL, ELEMENTARY, MIDDLE SCHOOL, HIGH SCHOOL AND ADULT EDUCATION. 2OTHER SERVICES MAY INCLUDE BUT ARE NOT LIMITED TO TUTORING, CURRICULUM DEVELOPMENT, CONSULTING, REMEDIATION, TESTING, TRAINING, INTERNET SEMINARS AND WRITTEN MATERIALS. 3 ALL EDUCATION AND SERVICES SHALL BE PREDICATED UPON BIBLICAL CHRISTIAN PRINCIPLES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alberto Ocjoa Director | Trustee | 2 | $0 |
Judy Jones Treasurer | Trustee | 2 | $0 |
Alfredo Palmer President | Trustee | 5 | $0 |
Ethel April Nukunya Director | Trustee | 5 | $0 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,233,292 |
| 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 | $61,130 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,294,422 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $762,964 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $59,265 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,160 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,361 |
| Office expenses | $37,503 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $122,472 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,050 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,254 |
| Insurance | $21,953 |
| All other expenses | $0 |
| Total functional expenses | $1,097,837 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $166,330 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,824 |
| 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 | $1,345 |
| Net Land, buildings, and equipment | $50,865 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,000 |
| Total assets | $241,364 |
| Accounts payable and accrued expenses | $3,388 |
| Grants payable | $0 |
| Deferred revenue | $21,558 |
| 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 | $4,107 |
| Total liabilities | $29,053 |
| Net assets without donor restrictions | $212,311 |
| 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 | $241,364 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Cornerstone Academy And Ministries Inc has recieved totaling $344.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $244 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $100 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University System Of Georgia Foundation Inc Atlanta, GA | $572,651,205 | $27,479,908 |
Atlanta Neighborhood Charter School Inc Atlanta, GA | $8,677,734 | $16,201,042 |
Pinellas County Education Foundation Inc Largo, FL | $46,058,719 | $8,082,359 |
Hephzibah Charter Foundation Inc Hephzibah, GA | $10,181,498 | $8,307,126 |
Foundation Properties Inc Columbus, GA | $108,758,689 | $6,742,153 |
Georgia Student Scholarship Organization Sso Inc Cumming, GA | $4,146,288 | $9,720,252 |
Excelsior Academies Inc Miami, FL | $11,544,923 | $8,167,644 |
Brevard Schools Foundation Inc Viera, FL | $7,221,686 | $4,889,607 |
Imagine - South Broward Inc Sunrise, FL | $1,098,870 | $2,986,588 |
Pure Edge Inc Palm Beach, FL | $739,291 | $2,020,460 |
Alternative Education Foundation Inc Davie, FL | $702,527 | $2,696,201 |
Education Foundation Of Sarasota Co Unty Inc Sarasota, FL | $5,086,867 | $4,227,915 |