Form 990 for tax year 2023

Filed by CORNERSTONE SCHOOLS ASSOCIATION.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2023 , filed 27 February 2025. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Those are the same on the two returns, so the amendment changed something else.

Totals

Total revenue: $911,586
Total expenses: $1,454,919
Contributions and grants received: $74,775
Grants paid: $0
Program service revenue: $836,787
Investment income: $24
Other revenue: $0
Total assets, end of year: $7,402,591
Total liabilities, end of year: $93,947
Net assets or fund balances, end of year: $7,308,644
Program services expenses (Part IX): $1,367,321
Management and general expenses: $87,598
Fundraising expenses: $0
Program service expenses (Part III): $1,367,321

Program services were 94.0% 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.

1f · All other contributions, gifts and grants

$74,775
2a · Program service revenue: RENTAL REVENUE- CEG

total $771,365 · related or exempt $771,365
2b · Program service revenue: SUPPORT SERVICES REVEN

total $65,422 · related or exempt $65,422
3 · Investment income

total $24 · excluded $24

Functional expenses

Part IX, the statement of functional expenses.

11b · Fees: legal

total $361,315 · program services $336,032 · management and general $25,283
11c · Fees: accounting

total $53,506 · program services $49,762 · management and general $3,744
11g · Fees: other

total $172,367 · program services $160,306 · management and general $12,061
13 · Office expenses

total $35,021 · program services $25,472 · management and general $9,549
14 · Information technology

total $20,613 · program services $20,613
16 · Occupancy

total $17,710 · program services $17,710
20 · Interest

total $52,979 · program services $30,274 · management and general $22,705
22 · Depreciation, depletion and amortization

total $597,591 · program services $597,591
23 · Insurance

total $20,035 · program services $15,885 · management and general $4,150
24a · Other expenses: REPAIRS AND MAINTENANCE

total $57,182 · program services $54,424 · management and general $2,758
24b · Other expenses: PROGRAM EXPENSE

total $51,877 · program services $50,840 · management and general $1,037
24c · Other expenses: OTHER EXPENSES

total $14,723 · program services $8,412 · management and general $6,311

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $47,130 · end of year $91,186
2 · Savings and temporary cash investments

beginning of year $4,132 · end of year $2,970
3 · Pledges and grants receivable

beginning of year $324,023 · end of year $216,801
9 · Prepaid expenses and deferred charges

beginning of year $7,132 · end of year $0
10a · Land, buildings and equipment: cost or other basis

$20,220,821
10b · Land, buildings and equipment: accumulated depreciation

$13,129,187
10c · Land, buildings and equipment, net

beginning of year $7,680,325 · end of year $7,091,634
17 · Accounts payable and accrued expenses

beginning of year $26,073 · end of year $93,947
23 · Secured mortgages and notes payable

beginning of year $184,692 · end of year $0
27 · Net assets without donor restrictions

beginning of year $7,789,818 · end of year $7,246,461
28 · Net assets with donor restrictions

beginning of year $62,159 · end of year $62,183

Mission and programs · 2023

Mission

CORNERSTONE WILL, THROUGH PARTNERSHIP WITH FAMILIES, SCHOOLS, THE BUSINESS COMMUNITY, AND A BROAD AND BELOVED COMMUNITY, SUPPORT THE EFFORT TO BUILD A MODEL OF EXCELLENCE IN URBAN EDUCATION BY ENCOURAGING THE CREATION OF CENTERS OF HOPE FOR THE CHILDREN OF DETROIT WHICH WILL PREPARE STUDENTS TO LIVE THE COMPLETE LIFE THROUGH ACADEMICS, ATHLETICS AND AFTER SCHOOL ACTIVITIES.

THE ASSOCIATION FOCUSES ON WAYS TO ASSIST CORNERSTONE EDUCATION GROUP ("CEG") IN ITS EDUCATIONAL MISSION AS WELL AS OFFERING CHRIST CENTERED ACTIVITIES TO STUDENTS AND PARENTS ON A VOLUNTARY BASIS OUTSIDE OF REGULAR SCHOOL HOURS. THE ASSOCIATION ALSO LEASES FACILITIES TO CEG AT ITS NEVADA CAMPUS AND COLLECTS LICENSING FEES TO FUND ITS MISSION.

Expenses $1,367,321 · Revenue $836,787

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

Carol MansfieldCAROL MANSFIELD

DIRECTOR

Total calculated

$0

Hours/week

2
Joe ThorrezJOE THORREZ

DIRECTOR

Total calculated

$0

Hours/week

2
Kathleen ThorrezKATHLEEN THORREZ

DIRECTOR

Total calculated

$0

Hours/week

2
Tatiana GrantTATIANA GRANT

DIRECTOR

Total calculated

$0

Hours/week

2
Mike CarrMIKE CARR

CHAIRMAN

Total calculated

$0

Hours/week

2

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

No itemized grants to organizations on this return.

Provenance

Return type: form_990
Tax year: 2023
Filed: 16 December 2024
IRS schema version: 2023v5.1
Source object: 202443519349301559

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