Cornerstone Christian Academy
- Assets
- $1.3m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 60
- Location
- Abingdon, VA
- Founding
- 01/2011
- Data as of
- 06/2021
- EIN
- 80-0607152
Organization Overview
Cornerstone Christian Academy is located in Abingdon, VA. The organization was established in 2011. 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 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 06/2021, Cornerstone Christian Academy generated $1.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled $1.7m during the year ending 06/2021. While expenses have increased by 6.2% 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
CLASSICAL EDUCATION FOR CHILDREN K THROUGH 12 GRADE LEVELS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED EDUCATION TO STUDENTS FROM THE COMMUNITY IN KINDERGARTEN THROUGH 12TH GRADES.
MISCELLANEOUS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mrs Dana Dando Head Of Scho | Officer | 40 | $70,000 |
Bruce Dando Director | OfficerTrustee | $0 | |
Dr French Moore Director | OfficerTrustee | $0 | |
Henry Looney Director | Trustee | $0 | |
Dr Andy Hawkins Director | Trustee | $0 | |
Alan Davis Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $156,789 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $485,367 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $642,156 |
| Total Program Service Revenue | $1,291,909 |
| Investment income | $318 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$4,977 |
| Net Income from Gaming Activities | $13,182 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,942,588 |
| 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 | $1,186,718 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $91,802 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,090 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $8,479 |
| Office expenses | $26,170 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $55,485 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $14,548 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $17,954 |
| Insurance | $10,919 |
| All other expenses | $105,641 |
| Total functional expenses | $1,707,549 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $55,097 |
| Savings and temporary cash investments | $544,802 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $715,753 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,315,652 |
| Accounts payable and accrued expenses | $522 |
| Grants payable | $0 |
| Deferred revenue | $104,105 |
| 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 | $602,888 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $707,515 |
| Net assets without donor restrictions | $608,137 |
| 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 | $1,315,652 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Cornerstone Christian Academy has recieved totaling $355.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $355 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Heights Inc Potomac, MD | $28,496,015 | $21,762,530 |
The Foundation Schools Largo, MD | $16,377,358 | $19,826,112 |
Carolina Day School Inc Asheville, NC | $29,412,889 | $19,874,947 |
Annapolis Area Christian School Association Inc Severn, MD | $29,091,894 | $17,563,578 |
Norwood School Inc Bethesda, MD | $57,964,554 | $24,196,645 |
Republic Schools Nashville Nashville, TN | $31,048,580 | $24,002,902 |
Congressional School Inc Falls Church, VA | $21,870,095 | $18,184,082 |
Nansemond-Suffolk Academy Association Incorporated Suffolk, VA | $19,895,333 | $17,664,822 |
Summit School Inc Winstonsalem, NC | $46,496,346 | $18,682,492 |
Christian Academy Of Knoxville Inc Knoxville, TN | $16,374,308 | $19,411,697 |
Cornerstone Academy Inc Morristown, TN | $83,376,022 | $25,507,605 |
Lowell School Inc Washington, DC | $42,214,480 | $16,545,938 |