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Nonprofiteer
← CORNERSTONE TELEVISION INC

Form 990 for tax year 2022

Filed by CORNERSTONE TELEVISION INC.

Totals

Total revenue
$4,892,228
Total expenses
$4,696,932
Contributions and grants received
$2,667,893
Grants paid
$442,086
Program service revenue
$1,569,404
Investment income
$58,120
Other revenue
$596,811
Total assets, end of year
$10,693,013
Total liabilities, end of year
$269,648
Net assets or fund balances, end of year
$10,423,365
Program services expenses (Part IX)
$2,874,668
Management and general expenses
$1,069,096
Fundraising expenses
$753,168
Program service expenses (Part III)
$2,874,668

Program services were 61.2% 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.

  • 1e · Government grants (contributions)

    $83,711

  • 1f · All other contributions, gifts and grants

    $2,584,182

  • 2a · Program service revenue: AIRTIME-OTHER MINISTRIES

    total $1,541,123 · related or exempt $1,541,123

  • 2b · Program service revenue: REVENUE SHARE INCOME

    total $21,054 · related or exempt $21,054

  • 2c · Program service revenue: SALES OF BOOKS & TAPES

    total $7,227 · related or exempt $7,227

  • 3 · Investment income

    total $109,146 · excluded $109,146

  • 5 · Royalties

    total $1,140 · excluded $1,140

  • 7a · Gross sales of assets other than inventory

    securities $11,292,812

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

    securities $11,336,144 · other assets $7,694

  • 7c · Gain or loss

    securities -$43,332 · other assets -$7,694

  • 7d · Net gain or loss

    total -$51,026 · excluded -$51,026

  • 10a · Gross sales of inventory

    $728,092

  • 10b · Cost of goods sold

    $135,509

  • 10c · Net income from sales of inventory

    total $592,583 · unrelated business $592,583

  • 11a · Other revenue: MISCELLANEOUS

    total $3,088 · excluded $3,088

  • 11e · Other revenue, total

    $3,088

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $213,186 · program services $213,186

  • 3 · Grants to foreign organizations and individuals

    total $228,900 · program services $228,900

  • 5 · Compensation of officers, directors and key employees

    total $179,858 · program services $92,320 · management and general $87,538

  • 7 · Other salaries and wages

    total $1,716,588 · program services $1,090,238 · management and general $408,171 · fundraising $218,179

  • 8 · Pension plan contributions

    total $16,454 · program services $7,996 · management and general $6,415 · fundraising $2,043

  • 9 · Other employee benefits

    total $233,738 · program services $138,598 · management and general $42,335 · fundraising $52,805

  • 10 · Payroll taxes

    total $158,205 · program services $81,891 · management and general $55,836 · fundraising $20,478

  • 11b · Fees: legal

    total $13,736 · management and general $13,736

  • 11c · Fees: accounting

    total $24,250 · management and general $24,250

  • 11g · Fees: other

    total $339,954 · program services $231,990 · management and general $35,512 · fundraising $72,452

  • 13 · Office expenses

    total $181,694 · program services $139,693 · management and general $31,329 · fundraising $10,672

  • 16 · Occupancy

    total $168,705 · program services $154,493 · management and general $14,212

  • 17 · Travel

    total $15,980 · program services $15,649 · management and general $15 · fundraising $316

  • 19 · Conferences, conventions and meetings

    total $2,774 · program services $2,500 · management and general $274

  • 20 · Interest

    total $5,049 · management and general $5,049

  • 22 · Depreciation, depletion and amortization

    total $330,466 · program services $330,466

  • 23 · Insurance

    total $65,023 · program services $3,038 · management and general $61,985

  • 24a · Other expenses: BROADCASTING & PROG. EX

    total $261,797 · program services $37,952 · management and general $110,996 · fundraising $112,849

  • 24b · Other expenses: PRINTING AND PUBLICATIO

    total $155,602 · management and general $611 · fundraising $154,991

  • 24c · Other expenses: ESTIMATED TAX PAYMENTS

    total $120,531 · management and general $120,531

  • 24d · Other expenses: GUESTS AND HONORARIUMS

    total $110,574 · program services $4,219 · management and general $1,681 · fundraising $104,674

  • 24e · All other expenses

    total $153,868 · program services $101,539 · management and general $48,620 · fundraising $3,709

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $475,075 · end of year $676,782

  • 4 · Accounts receivable

    beginning of year $320,437 · end of year $365,913

  • 8 · Inventories for sale or use

    beginning of year $69,782 · end of year $75,846

  • 9 · Prepaid expenses and deferred charges

    beginning of year $51,094 · end of year $52,583

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

    $11,169,309

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

    $6,738,087

  • 10c · Land, buildings and equipment, net

    beginning of year $4,507,718 · end of year $4,431,222

  • 11 · Investments: publicly traded securities

    beginning of year $5,855,306 · end of year $5,025,119

  • 15 · Other assets

    beginning of year $0 · end of year $65,548

  • 17 · Accounts payable and accrued expenses

    beginning of year $150,811 · end of year $165,753

  • 19 · Deferred revenue

    beginning of year $27,871 · end of year $29,733

  • 23 · Secured mortgages and notes payable

    beginning of year $120,000

  • 25 · Other liabilities

    beginning of year $8,821 · end of year $74,162

  • 27 · Net assets without donor restrictions

    beginning of year $10,862,229 · end of year $10,311,216

  • 28 · Net assets with donor restrictions

    beginning of year $109,680 · end of year $112,149

Mission and programs · 2022

Mission

PRODUCTION AND BROADCASTING OF RELIGIOUS AND EDUCATIONAL PROGRAMS.

  • BROADCASTING & PRODUCTION - TELEVISION BROADCASTING OF IN-HOUSE, NATIONALLY SYNDICATED, AND LOCAL RELIGIOUS AND EDUCATIONAL ORIENTED PROGRAMS, SERVING WESTERN AND CENTRAL PENNSYLVANIA AND OTHER PARTS OF THE UNITED STATES.

    Expenses $2,874,668 · Grants $442,086 · Revenue $1,569,404

As filed on the 2022 return.

Listed in Part VII

  • Steve Johnson

    PRESIDENT/CEO

    Total calculated
    $109,423
    From this org
    $100,250
    From related orgs
    $0
    Other
    $9,173
    Hours/week
    40

  • Ms Michelle Agatston

    VICE CHAIRMAN

    Total calculated
    $600
    From this org
    $600
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Paul Bixler

    DIRECTOR

    Total calculated
    $73,495
    From this org
    $67,910
    From related orgs
    $0
    Other
    $5,585
    Hours/week
    1

  • Leon Haynes

    DIRECTOR

    Total calculated
    $450
    From this org
    $450
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Thomas Scott

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Rev Gary Mitrik

    DIRECTOR

    Total calculated
    $28,050
    From this org
    $28,050
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Antonino J Comanici

    DIRECTOR

    Total calculated
    $300
    From this org
    $300
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

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

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2022
Filed
23 June 2023
IRS schema version
2022v5.0
Source object
202301749349301025

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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