Cornerstone Christian Academy Inc
- Assets
- $22.7m
- Revenue
- $7.5m
- Investments
- $0.0
- Employees
- 103
- Location
- Westminster, CO
- Founding
- 05/1999
- Data as of
- 05/2022
- EIN
- 84-1463519
Organization Overview
Cornerstone Christian Academy Inc is located in Westminster, CO. The organization was established in 1999. 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 05/2022, Cornerstone Christian Academy Inc employed 103 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cornerstone Christian Academy Inc 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 05/2022, Cornerstone Christian Academy Inc generated $7.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.5% each year. All expenses for the organization totaled $4.2m during the year ending 05/2022. While expenses have increased by 11.2% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATE STUDENTS FROM KINDERGARTEN THROUGH HIGH SCHOOL IN A GENUINE FAITH ENVIRONMENT THROUGH ACADEMICS, ATHLETICS AND ARTS IN A FORMAL CLASSROOM SITTING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATE STUDENTS FROM KINDERGARTEN THROUGH HIGH SCHOOL IN A GENUINE FAITH ENVIRONMENT THROUGH ACADEMICS, ATHLETICS AND ARTS IN A FORMAL CLASSROOM SETTING.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry Zimbelman Director | Trustee | 40 | $102,781 |
Mitch Doughty Director Of Operations | 40 | $101,328 | |
Diana Durrill Secretary | OfficerTrustee | 25 | $9,240 |
Eric Rakers Director | Trustee | 4 | $500 |
Blake Carlson President | OfficerTrustee | 10 | $0 |
Keith Osborn Director | Trustee | 1 | $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 | $4,479,088 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,479,088 |
| Total Program Service Revenue | $2,996,134 |
| Investment income | $52 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$7,452 |
| Net Income from Fundraising Events | $490 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,524,059 |
| 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. | $109,237 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,086,178 |
| Pension plan accruals and contributions | $38,341 |
| Other employee benefits | $73,884 |
| Payroll taxes | $169,396 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $27,507 |
| 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 | $26,426 |
| Information technology | $28,251 |
| Royalties | $0 |
| Occupancy | $293,159 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $417,243 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $374,385 |
| Insurance | $65,212 |
| All other expenses | $130,690 |
| Total functional expenses | $4,153,760 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,043,513 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,150 |
| 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 | $21,602,079 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $22,650,742 |
| Accounts payable and accrued expenses | $651,555 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $8,487,790 |
| Unsecured mortgages and notes payable | $52,535 |
| Other liabilities | $334,680 |
| Total liabilities | $9,526,560 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $13,124,182 |
| Total liabilities and net assets/fund balances | $22,650,742 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Cornerstone Christian Academy Inc has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: GROWTH | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Heritage Schools Inc American Fork, UT | $76,345,416 | $17,728,637 |
Vail Mountain School Vail, CO | $56,713,678 | $17,984,280 |
Harvest Power Community Development Group Inc Yuma, AZ | $16,728,343 | $18,038,703 |
Sandia School Albuquerque, NM | $27,571,490 | $14,904,182 |
St Annes Episcopal School Inc Denver, CO | $46,260,720 | $15,462,450 |
Highline Academy Incorporation Denver, CO | $14,864,642 | $15,484,851 |
Legacy Traditional School-Phoenix Chandler, AZ | $39,660,573 | $11,666,395 |
Cibecue Community Education Board Inc Cibecue, AZ | $19,497,767 | $20,057,835 |
Aspen Country Day School Inc Aspen, CO | $49,647,660 | $11,714,828 |
Stanley British Primary School Denver, CO | $27,048,051 | $12,840,906 |
Denver Christian Schools Lakewood, CO | $38,547,145 | $10,170,026 |
Colorado Rocky Mountain School Carbondale, CO | $43,266,692 | $11,922,762 |