Cornerstone Ministries International
- Assets
- $1.7m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 14
- Location
- Tustin, CA
- Founding
- 09/1992
- Data as of
- 12/2022
- EIN
- 91-1550156
Organization Overview
Cornerstone Ministries International is located in Tustin, CA. The organization was established in 1992. According to its NTEE Classification (Q33) the organization is classified as: International Relief, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2022, Cornerstone Ministries International employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cornerstone Ministries International 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 12/2022, Cornerstone Ministries International generated $2.1m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $2.0m during the year ending 12/2022. While expenses have increased by 2.8% per year over the past 5 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
PROPOGATING THE GOSPEL OF JESUS CHRIST IN THE GOSPEL RESTRICTED NATIONS BY DELIVERING BIBLES, RAISING UP LOCAL LEADERS, TRAINING AND SENDING OUT MISSIONARIES, PLANTING CHURCHES, AND CARRYING OUT EVANGELISM WITH HUMANITARIAN ASSISTANCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DELIVERING BIBLES AND CHRISTIAN LITERATURES TO PERSECUTED CHURCHES IN THE GOSPEL RESTRICTED NATIONS SUCH AS NORTH KOREA, CHINA, ISLAMIC NATIONS, AND ISRAEL WITH THE COMBINED EFFORT OF OTHER PARTNERING MINISTRIES, MISSION ORGANIZATIONS, AND INDIVIDUAL MISSIONARIES. HAVE DISTRIBUTED 31,403 BIBLES INCLUDING 10,130 CHINESE BIBLES, 6,602 NORTH KOREAN BIBLES, 2,736 HEBREW BIBLES, 308 ARABIC BIBLES, AND 10,038 MYANMAR BIBLES. WE HAVE PUBLISHED THE 'SOUTH AND NORTH KOREAN PARALLEL BIBLE' SO THAT NORTH KOREAN REFUGEES LIVING IN SOUTH KOREA CAN READ THE NORTH KOREAN BIBLES IN PARALLEL WITH THE SOUTH KOREAN BIBLE. WE PRINTED NORTH KOREAN BIBLES INCLUDING THE PARALLEL BIBLES IN PREPARATION FOR THE OPENING OF NORTH KOREA. WE ARE ALSO BROADCASTING OVER SHORT WAVE AND APPS TO REACH BELIEVERS AND CHRISTIAN LEADERS IN NORTH KOREA AND OVERSEAS. WE READ NORTH KOREAN BIBLES AT DICTATING SPEEED OVER RADIO. WE PRODUCED AND BROADCASTED OVER SHORT WAVE 60 MINUTES PER EVERY DAY AND 90 MINUTES ON SUNDAY. WE PRODUCED 90 MINUTES WORSHIP SERVICE ON SUNDAY AND 30 MINUTES ON WEDNESDAY ON AM FREQUENCY.
RAISING UP LEADERS IN THE RESTRICTED NATIONS FOR THEM TO MINISTER TO PROPOGATING THE GOSPEL OF JESUS CHRIST BY HAVING BIBLES SCHOOL, SEMINARIES TEACHING, AND CONFERENCES ALONG WITH THE OTHER MINISTRIES, MISSIONARIES, AND ORGANIZATIONS. EQUIP POTENTIAL LEADERS AMONG KOREAN LIVING IN KOREA AND LIVING AROUND THE WORLD TO ENTER INTO THE RESTRICTED MISSION FIELD. 631 STUDENTS TOOK CLASSES ON-LINE AND OFF-LINE AT 9 TEACHING SITES IN 8 CITIES, 70 STUDENTS GRADUATED FROM 6 TEACHING SITES. TOTAL 5,846 HOURS OF TEACHING WERE TAUGHT BY 212 LECTURERS. WE CONTINUED TO SUPPORT A THEOLOGICAL COLLEGE IN INDIA AND PROVIDED LEADER'S TRAINING IN VIETNAM AND SUPPORTED OTHER MISSION ORGANIZATIONS FOR LEADERSHIP TRAINING IN ISRAEL. IN THE FIELD, COVID-19 BECAME AN OPPORTUNITY RATHER THAN A CRISIS. WE DISTRIBUTED NEWSLETTERS AND PRAYER LETTERS TO INFORM THE NEEDS OF SUPPORTING LEADERS AND CURRENT SITUATION OF THE PERSECUTED CHURCH IN THE RESTRICTED NATIONS.
FACILITATING AND SUPPORTING MISSIONARIES FOR NETWORKING AND PARTNERING WITH OTHER MINISTRIES AND TRAINING PEOPLE TO BE MISSIONARIES IN KOREA AND IN THE RESTRICTED NATIONS. THE MISSION CONFERNCES WERE HELD IN JANUARY AND JULY WITH 887 PARTICIPANTS. A TOTAL OF 444 PEOPLE WERE TRAINED IN 10-12 WEEKS LONG COURSES TO PREPARE TO GO TO MISSION FIELD. THESE COURSES INCLUDES INNER HEALING, WORSHIP AND PRAISE, BIBLICAL FOUNDATION FOR MISSION, COMMUNITY DEVELOPMENT PROGRAM AS WELL AS INTERNATIONAL DIASTER RESPONSE CLASSES. DURING THE PADENMIC PERIOD, CHINESE LOCAL CARRIED OUT TRAINING IN 3 TEACHINGS SITES FOR 32 LEADERS. AT THE MISSION CENTER IN ISRAEL, WE HAD PRINTED OVER 83,000 EVANGELISTIC TRACTS AND DISTRIBUTED OVER 7,300. IN INDO-CHINA WE ARE PREACHING THE GOSPEL TO LOCALS INCLUDING CHINESE IMMIGRANTS, PREPARING BASES FOR MISSIONS TO CHINA AND NORTH KOREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Isaac Lee President | Officer | 60 | $57,600 |
Peter Lee Executive Director | Officer | 60 | $57,600 |
Y I Song Director | Trustee | 0 | $0 |
Seounghee Ko Director | Trustee | 0 | $0 |
C I Kim Director | Trustee | 0 | $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 | $2,064,238 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,064,238 |
| Total Program Service Revenue | $0 |
| Investment income | $3,063 |
| 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 | $2,067,301 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $47,681 |
| Grants and other assistance to domestic individuals. | $136,300 |
| Grants and other assistance to Foreign Orgs/Individuals | $913,679 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $115,200 |
| Compensation of current officers, directors, key employees. | $23,040 |
| Compensation to disqualified persons | $496,041 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $46,760 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,465 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,193 |
| Advertising and promotion | $0 |
| Office expenses | $8,782 |
| Information technology | $15,393 |
| Royalties | $0 |
| Occupancy | $35,382 |
| Travel | $34,708 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $871 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,093 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,978,106 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $236,863 |
| Savings and temporary cash investments | $1,357,392 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $34,069 |
| 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 | $24,016 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,652,340 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $392,571 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $392,571 |
| 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 | $807,939 |
| Retained earnings, endowment, accumulated income, or other funds | $451,830 |
| Total liabilities and net assets/fund balances | $1,652,340 |
Grants Awarded
Over the last fiscal year, Cornerstone Ministries International has awarded $47,681 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
KRIN INTERNATIONAL PURPOSE: MISSIONARY TRAINING | $16,010 |
CHINA HARVEST PURPOSE: LEADERS TRAINING AND MOBILIZING MISSIONARIES | $22,500 |
CORNERSTONE INTERNATIONAL UNIVERSITY PURPOSE: SUPPORT OF MISSIONARY TRAINING | $9,171 |