Cornerstone Bible Institute

Organization Overview

Cornerstone Bible Institute is located in Hot Springs, SD. The organization was established in 1993. According to its NTEE Classification (X21) the organization is classified as: Protestant, under the broad grouping of Religion-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cornerstone Bible Institute 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 06/2023, Cornerstone Bible Institute generated $170.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (12.9%) each year. All expenses for the organization totaled $189.3k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (9.9%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

RELIGIOUS EDUCATION: THE BIBLE INSTITUTE OFFERS A 3 YEAR DEGREE (96 HOURS) IN BIBLE STUDIES, WITH MINORS IN PASTORAL MINISTRIES, MISSIONS, CHRISTIAN EDUCATION, AND MUSIC STUDIES. THE INSTITUTE SERVES ABOUT 36 FULL AND PART-TIME STUDENTS

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE BIBLE INSTITUTE OFFERS A 3 YEAR DEGREE (96 HOURS) IN BIBLE STUDIES, WITH MINORS IN PASTORAL MINISTRIES, MISSIONS, CHRISTIAN EDUCATION, AND MUSIC STUDIES. THE INSTITUTE SERVES ABOUT 36 FULL AND PART-TIME STUDENTS.


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Board, Officers & Key Employees

Name (title)Compensation
Matt Parker
Vice President
$0
David Brewer
Secretary
$0
Steven Deford
President
$0
Steve Johnson
Treasurer
$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$169,795
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$169,795
Total Program Service Revenue$0
Investment income $785
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 $170,580

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