Cornerstone Christian Academy
- Assets
- $3.1m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 60
- Location
- Granbury, TX
- Founding
- 01/2001
- Data as of
- 05/2024
- EIN
- 75-2860937
Organization Overview
Cornerstone Christian Academy is located in Granbury, TX. The organization was established in 2001. 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 05/2024, Cornerstone Christian Academy employed 60 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cornerstone Christian 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 05/2024, Cornerstone Christian Academy generated $2.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.9% each year. All expenses for the organization totaled $2.4m during the year ending 05/2024. While expenses have increased by 9.8% per year over the past 8 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
OPERATION OF PRIVATE CHRISTIAN SCHOOL
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF PRIVATE CHRISTIAN SCHOOL
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Trace Moore President | OfficerTrustee | 2 | $0 |
Michael Carter Vice Preside | OfficerTrustee | 2 | $0 |
Stephanie Kirk Treasurer | OfficerTrustee | 2 | $0 |
Christy Stewart Secretary | OfficerTrustee | 2 | $0 |
Mark Maroney Member | Trustee | 2 | $0 |
Nicole Jennings Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $99,460 |
| All other contributions, gifts, grants, and similar amounts not included above | $93,834 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $193,294 |
| Total Program Service Revenue | $1,896,133 |
| Investment income | $1,079 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $990 |
| Net Rental Income | $30,000 |
| Net Gain/Loss on Asset Sales | -$644 |
| Net Income from Fundraising Events | $44,713 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,170,520 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $800 |
| 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 | $1,476,069 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $129,765 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $17,325 |
| Fees for services: Accounting | $5,110 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $38,123 |
| Advertising and promotion | $1,215 |
| Office expenses | $4,236 |
| Information technology | $18,354 |
| Royalties | $0 |
| Occupancy | $219,476 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $78,223 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $96,869 |
| Insurance | $21,930 |
| All other expenses | $71,427 |
| Total functional expenses | $2,442,086 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $94,992 |
| Savings and temporary cash investments | $33,811 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,968 |
| 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 | $2,754,316 |
| Investments—publicly traded securities | $201,796 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,099,883 |
| Accounts payable and accrued expenses | $2,167 |
| Grants payable | $0 |
| Deferred revenue | $242,820 |
| 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 | $2,238,852 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,055 |
| Total liabilities | $2,488,894 |
| Net assets without donor restrictions | $610,989 |
| 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 | $3,099,883 |