Cornerstone Academy
- Assets
- $159.9k
- Revenue
- $593.9k
- Investments
- $0.0
- Employees
- 24
- Location
- Snohomish, WA
- Founding
- 05/2008
- Data as of
- 06/2020
- EIN
- 65-1308343
Organization Overview
Cornerstone Academy is located in Snohomish, WA. The organization was established in 2008. 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 06/2020, Cornerstone Academy employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cornerstone Academy 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 06/2020, Cornerstone Academy generated $593.9k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.3% each year . All expenses for the organization totaled $506.1k during the year ending 06/2020. While expenses have increased by 10.0% 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
CORNERSTONE ACADEMY'S MISSION IS TO PROVIDE A CLASSICAL, CHRISTIAN EDUCATION THAT IS PARENT SUPPORTED, STUDENT CENTERED AND POWERED BY PASSIONATE EDUCATORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TEACHERS ARE OUR BIGGEST RESOURCE FOR THE SCHOOL'S SUCCESS. WE INTENTIONALLY SELECT TEACHERS WHO ARE BEST ABLE TO SUPPORT AND FURTHER OUR MISSION.
FUNCTIONING DAY TO DAY IN OUR FACILITY IS A CRUCIAL PART OF OUR SCHOOL'S FUNCTION AND MEETING THE MISSION.
THE CURRICULUM AND ACTIVITIES CORNERSTONE USES FOR THE STUDENT'S LEARNING IS VERY IMPORTANT TO THE LONG TERM SUCCESS OF MEETING OUR GRADUATION GOALS.
TEACHERS ARE OUR BIGGEST RESOURCE FOR THE SCHOOL'S SUCCESS. WE INTENTIONALLY SELECT TEACHERS WHO ARE BEST ABLE TO SUPPORT AND FURTHER OUR MISSION.
FUNCTIONING DAY TO DAY IN OUR FACILITY IS A CRUCIAL PART OF OUR SCHOOL'S FUNCTION AND MEETING THE MISSION.
THE CURRICULUM AND ACTIVITIES CORNERSTONE USES FOR THE STUDENT'S LEARNING IS VERY IMPORTANT TO THE LONG TERM SUCCESS OF MEETING OUR GRADUATION GOALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kristofer Hvattum Dean Of Students & Secondary Teacher | Officer | 30 | $62,000 |
Tracy Whitfield Director Of Operations | Officer | 30 | $48,589 |
Michelle Jones Head Of School | Officer | 30 | $17,736 |
Hillary Starr Board Officer | Trustee | 1 | $0 |
Sarah Tainter Board Officer | Trustee | 1 | $0 |
Chuck Whitfield Board Officer | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| 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 | $593,891 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $63,079 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $128,325 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $189,560 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $33,562 |
| 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 | $0 |
| Office expenses | $16,514 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $55,195 |
| 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 | $3,354 |
| Insurance | $3,131 |
| All other expenses | $0 |
| Total functional expenses | $506,060 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $149,585 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,953 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $159,905 |
| Accounts payable and accrued expenses | $62,076 |
| Grants payable | $0 |
| Deferred revenue | $5,050 |
| 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 | $67,126 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $92,779 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Cornerstone Academy has recieved totaling $5,470.
| Awarding Organization | Amount |
|---|---|
American Endowment Foundation Hudson, OH PURPOSE: PROGRAMS | $5,470 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Evergreen School Shoreline, WA | $54,109,732 | $18,688,724 |
University Child Development School Seattle, WA | $35,789,355 | $15,422,217 |
Seattle Country Day School Seattle, WA | $55,770,404 | $17,470,349 |
St Thomas School Medina, WA | $79,286,782 | $15,883,490 |
French American School Of Puget Sound Mercer Island, WA | $16,865,271 | $13,425,838 |
The Open Window School Bellevue, WA | $36,380,827 | $12,092,167 |
Gresham Arthur Academy Public Charter School Portland, OR | $14,718,484 | $9,208,791 |
Kings Way Christian Schools Vancouver, WA | $6,224,718 | $10,439,261 |
The Bertschi School Seattle, WA | $29,979,926 | $9,759,275 |
Northwest Christian Schools Inc Colbert, WA | $28,921,822 | $10,264,854 |
Meridian School Seattle, WA | $11,104,364 | $8,438,770 |
Santiam Christian Schools Adair Village, OR | $11,670,742 | $5,933,883 |