Cornerstone Classical Academy
- Assets
- $17.3m
- Revenue
- $8.4m
- Investments
- $0.0
- Employees
- 97
- Location
- Jacksonville, FL
- Founding
- 08/2019
- Data as of
- 06/2023
- EIN
- 83-2643245
Organization Overview
Cornerstone Classical Academy is located in Jacksonville, FL. The organization was established in 2019. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2023, Cornerstone Classical Academy employed 97 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cornerstone Classical 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 06/2023, Cornerstone Classical Academy generated $8.4m in total revenue. All expenses for the organization totaled $7.5m during the year ending 06/2023. While expenses have increased by 93.8% per year over the past 4 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE A PUBLIC CHARTER SCHOOL IN DUVAL COUNTY, FLORIDA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO OPERATE A PUBLIC CHARTER SCHOOL IN DUVAL COUNTY, FLORIDA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lindsay Hoyt Board Chair | Trustee | 1 | $0 |
Dawn Kell Treasurer | Trustee | 1 | $0 |
David Wood Secretary | Trustee | 1 | $0 |
Sally Lutz Member | Trustee | 1 | $0 |
Dawn Oehmann Principal | Officer | 40 | $0 |
Edi Wohlgemuth Executive Director | Officer | 40 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Endless Summer Roofing Roofing Repairs | 6/29/23 | $128,090 |
School Financial Services Accounting/payroll | 6/29/23 | $126,017 |
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 | $6,912,888 |
| 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 | $87,335 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,430,688 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,024,400 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $324,117 |
| Insurance | $0 |
| All other expenses | $2,227,037 |
| Total functional expenses | $7,513,526 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,716,222 |
| Savings and temporary cash investments | $559,660 |
| Pledges and grants receivable | $159,444 |
| Accounts receivable, net | $763 |
| 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 | $14,325 |
| Net Land, buildings, and equipment | $14,865,207 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $17,315,621 |
| Accounts payable and accrued expenses | $362,488 |
| Grants payable | $0 |
| Deferred revenue | $52,059 |
| Tax-exempt bond liabilities | $16,960,000 |
| 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 | $17,374,547 |
| 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 | -$2,094,793 |
| Retained earnings, endowment, accumulated income, or other funds | $2,035,867 |
| Total liabilities and net assets/fund balances | $17,315,621 |