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← CORNERSTONE MINISTRIES INTERNATIONAL

Form 990 for tax year 2023

Filed by CORNERSTONE MINISTRIES INTERNATIONAL.

Totals

Total revenue
$2,669,894
Total expenses
$2,637,372
Contributions and grants received
$2,666,790
Grants paid
$1,737,817
Program service revenue
$0
Investment income
$3,104
Other revenue
$0
Total assets, end of year
$1,292,292
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$1,292,292
Program services expenses (Part IX)
$2,152,692
Management and general expenses
$190,342
Fundraising expenses
$294,338
Program service expenses (Part III)
$2,152,692

Program services were 81.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $2,666,790

  • 1g · Noncash contributions included above

    $0

  • 3 · Investment income

    total $3,104 · related or exempt $3,104 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $0 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 7a · Gross sales of assets other than inventory

    securities $0 · other assets $0

  • 7b · Less cost or other basis and sales expenses

    securities $0 · other assets $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 7d · Net gain or loss

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0 · unrelated business $0 · excluded $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $204,647 · program services $204,647

  • 2 · Grants to domestic individuals

    total $108,425 · program services $108,425

  • 3 · Grants to foreign organizations and individuals

    total $1,424,745 · program services $1,424,745

  • 5 · Compensation of officers, directors and key employees

    total $115,200 · program services $51,840 · management and general $23,040 · fundraising $40,320

  • 6 · Compensation of disqualified persons

    total $495,100 · program services $237,626 · management and general $87,893 · fundraising $169,581

  • 9 · Other employee benefits

    total $1,865 · program services $1,119 · management and general $373 · fundraising $373

  • 10 · Payroll taxes

    total $46,688 · program services $28,760 · management and general $7,095 · fundraising $10,833

  • 11b · Fees: legal

    total $7,535 · management and general $7,535

  • 11c · Fees: accounting

    total $7,269 · management and general $7,269

  • 11g · Fees: other

    total $238 · management and general $238

  • 13 · Office expenses

    total $6,342 · program services $1,118 · management and general $2,053 · fundraising $3,171

  • 14 · Information technology

    total $16,729 · program services $8,439 · management and general $4,814 · fundraising $3,476

  • 15 · Royalties

    total $34,832 · program services $3,483 · management and general $24,383 · fundraising $6,966

  • 16 · Occupancy

    total $52,903 · program services $39,677 · management and general $5,290 · fundraising $7,936

  • 19 · Conferences, conventions and meetings

    total $291 · program services $146 · management and general $58 · fundraising $87

  • 22 · Depreciation, depletion and amortization

    total $13,047 · program services $3,914 · management and general $2,609 · fundraising $6,524

  • 24a · Other expenses: Other Expenses

    total $101,516 · program services $38,753 · management and general $17,692 · fundraising $45,071

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $236,863 · end of year $277,042

  • 2 · Savings and temporary cash investments

    beginning of year $1,357,392 · end of year $999,936

  • 4 · Accounts receivable

    beginning of year $34,069

  • 7 · Other notes and loans receivable

    beginning of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0

  • 10a · Land, buildings and equipment: cost or other basis

    $265,851

  • 10b · Land, buildings and equipment: accumulated depreciation

    $250,537

  • 10c · Land, buildings and equipment, net

    beginning of year $24,016 · end of year $15,314

  • 17 · Accounts payable and accrued expenses

    beginning of year $0

  • 18 · Grants payable

    beginning of year $392,571 · end of year $0

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $807,939 · end of year $924,847

  • 31 · Retained earnings, endowment or other funds

    beginning of year $451,830 · end of year $367,445

Mission and programs · 2023

Mission

TO SEEK THE LOST SHEEPS OF GOD AND COMFORT THEM, MAKE THE DISCIPLES OF JESUS CHRIST, AND TO WORK TOGETHER IN HOLY SPIRIT, TO BUILD THE KINGDOM OF GOD IN THE GOSPEL RESTRICTED NATIONS WHERE CHRISTIANS ARE BEING PERSECUTED BECAUSE OF THEIR FAITH IN JESUS CHRIST.

Activities or mission (Part I)

PROPOGATING THE GOSPEL OF JESUS CHRIST IN THE GOSPEL RESTRICTED NATIONS BY DELIVERING BIBLES, RAISING UP MISSIONAL LEADERS, TRAINING AND SENDING OUT MISSIONARIES, PLANTING CHURCHES, AND CARRYING OUT EVANGELISM WITH HUMANITARIAN ASSISTANCES.

  • DELIVERING BIBLES AND CHRISTIAN LITERATURES TO PERSECUTED CHURCHES IN THE GOSPEL RESTRICTED NATIONS SUCH AS NORTH KOREA, CHINA, MINOIRITIES IN CHINA, ISLAMIC NATIONS, AND ISRAEL WITH THE COMBINED EFFORT OF OTHER PARTNERING MINISTRIES, MISSION ORGANIZATIONS, AND INDIVIDUAL MISSIONARIES. HAVE DISTRIBUTED 46,951 BIBLES INCLUDING 34,221 CHINESE BIBLES, 11,132 NORTH KOREAN BIBLES, 1,598 HEBREW AND 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 BROADCASTING 546 HOURS OVER SHORT AND MEDIUM WAVE 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 THE SHORT WAVE 60 MINUTES PER EVERY DAY AND PRODUCED 90 MINUTES WORSHIP SERVICE AND BROADCAST ON SUNDAY AND OTHER BIBLE TEACHING 30 MINUTES ON WEDNESDAY ON AM FREQUENCY.

    Expenses $266,080 · Grants $145,148

  • 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. 552 STUDENTS TOOK CLASSES ON-LINE AND OFF-LINE AT 10 TEACHING SITES IN 8 CITIES, 86 STUDENTS GRADUATED FROM 8 TEACHING SITES. WE PROVIDED SCHOLARSHIPS TO 15 STUDENTS, ADDITIONALLY SUPPORTED THE INSUFFICIENT FINANCES OF 2 BRANCH TEACHING SITES, AND SUPPORTED LOCAL PASTORS WHO ARE SERVING AS A LOCAL LEADER FOR CHURCH PLANTING AND MISSION. 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. WE DISTRIBUTED NEWSLETTERS AND PRAYER LETTERS TO INFORM THE NEEDS OF SUPPORTING LEADERS AND CURRENT SITUATION OF THE PERSECUTED CHURCH IN THE RESTRICTED NATIONS.

    Expenses $527,758 · Grants $460,510

  • 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 787 PARTICIPANTS. A TOTAL OF 389 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. IN 2023, 4,751 PEOPLE ACCEPTED JESUS AS THEIR SAVIOUR THROUGH EVANGELISM PROGRAMS IN LAOS, CAMBODIA, MYANMAR, AND VIETNAM. AMONG THEM, WORKERS ARE PREPARING BASES FOR MISSIONS TO CHINA AND NORTH KOREA.

    Expenses $636,674 · Grants $483,965

  • NETWORKING WITH THE EXISTING LOCAL LEADERS AND PASTORS OF THE PERSECUTED CHURCH IN NORTH KOREA AND CHINA TO ASSIST THEM FURTHERING IN CHURCH PLANTING AND PASTORING CHURCHES IN THEIR COMMUNITIES. WE HAVE FACILITATED AND ASSISTED THOSE PASTORS WHO WERE WILLING TO PLANT A CHURCH IN THEIR NEIGHBORHOOD. DURING THE PANDEMIC PERIOD, TRAVEL BETWEEN NORTH KOREA AND CHINA WAS RESTRICTED. YET, WE WERE CONTINUING TO TRAIN NORTH KOREANS WHO ARE STRANDED IN CHINA. WE HAVE TRAINED 34 LEADERS IN CHINA, NORTH KOREA, AND SOUTH KOREA IN 2023. IN 2023, 10 CHURCHES WERE PLANTED IN 7 REGIONS, AND THE NUMBER OF UNDERGROUND BELIEVERS INCREASED BY 29. WE ALSO HAVE STARTED TRAINING LEADERS IN SOUTH KOREA TO MOBILIZE NORTH KOREAN DEFECTORS FOR THE NK MISSION. WE IMPLEMENTED DIGITAL METHODS TO TRAIN NORTH KOREANS IN CHINA. IN 2023, GOD HAS ALLOWED TO SEND 2,688 SD CARDS, 1,000 USBS CONTAINING BIBLES AND THE TRAINING MATERIALS.

    Expenses $401,638 · Grants $379,894

  • PROVIDING HUMANITARIAN ASSISTANCE TO NEEDY PEOPLE IN NORTH KOREA, REFUGEES OF NORTH KOREA IN CHINA ALONG THE BORDER, DEFECTORS OF NORTH KOREA IN SOUTH KOREA, NORTH KOREAN ORPHANS AND NK WIDOWS IN CHINA, AND OTHER NATIONS. THROUGH HUMANITARIAN ASSISTANCE, WE SHARED THE LOVE OF JESUS CHRIST AND TO MEET THEIR IMMEDIATE SURVIVAL NEEDS. WE ASSISTED THE NEEDY PEOPLE IN THE GOSPEL RESTRICTED NATIONS WITH FOODS, CLOTHES, MEDICINES, BASIC HUMAN NECESSARY ITEMS. WE ALSO PARTNERSING WITH OTHER MINISTRIES, NGO, MISSIONARIES, AND ORGANIZATIONS. WE WERE ABLE TO PROVIDE TO OUR CHURCH NETWORK AND HELPERS. RICE WAS DELIVERED TO 228 FAMILIES AND 800 BELIEVERS AND NEIGHBORS THROUGH CHURCH NETWORKS. WE HAVE HELPED TO PROVIDE FOODS TO ORPHANS. WE SENT CHRISTMAS GIFTS TO NORTH KOREAN CHILDREN. WE ALSO HAVE PROVIDED HUMAN BASIS NECESSITY ITEMS TO THOSE NORTH KOREANS IN CHINA, RUSSIA, AND MONGOLIA TO SHARE THE GOSPEL OF JESUS CHRIST.

    Expenses $320,542 · Grants $268,299

As filed on the 2023 return.

Listed in Part VII

  • Isaac Lee

    PRESIDENT

    Total calculated
    $57,600
    From this org
    $57,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    60

  • Peter Lee

    EXECUTIVE DIRECTOR

    Total calculated
    $57,600
    From this org
    $57,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    60

  • Y I Song

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Seounghee Ko

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • C I Kim

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

  • NEW KOREA FOUNDATION INTERNATIONAL

    $40,000

    LEADERS TRAINING AND MISSIONARY SUPPORT

  • CHINA HARVEST

    $21,000

    LEADERS TRAINING AND MOBILIZING MISSIONARIES

  • ADVANCING NATIVE MISSION

    $13,028

    LEADERS TRAINING

  • KRIN INTERNATIONAL

    $12,819

    MISSIONARY TRAINING

  • KOREA GOSPEL BROADCASTING

    $6,000

    SUPPORT OF BROADCASTING TO THE RESTRICTED NATIONS

Provenance

Return type
form_990
Tax year
2023
Filed
11 November 2024
IRS schema version
2023v5.0
Source object
202403159349300505

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