Skip to content
Nonprofiteer
← CORNERSTONE SCHOOLS ASSOCIATION

Form 990 for tax year 2022

Filed by CORNERSTONE SCHOOLS ASSOCIATION.

Totals

Total revenue
$787,735
Total expenses
$925,544
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$787,710
Investment income
$25
Other revenue
$0
Total assets, end of year
$8,062,742
Total liabilities, end of year
$210,765
Net assets or fund balances, end of year
$7,851,977
Program services expenses (Part IX)
$862,233
Management and general expenses
$63,311
Fundraising expenses
$0
Program service expenses (Part III)
$862,233

Program services were 93.2% 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.

  • 2a · Program service revenue: RENTAL REVENUE- CEG

    total $686,985 · related or exempt $686,985

  • 2b · Program service revenue: SUPPORT SERVICES REVEN

    total $100,725 · related or exempt $100,725

  • 3 · Investment income

    total $25 · excluded $25

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $46,282 · program services $37,513 · management and general $8,769

  • 11g · Fees: other

    total $105,696 · program services $85,669 · management and general $20,027

  • 13 · Office expenses

    total $19,129 · program services $19,007 · management and general $122

  • 14 · Information technology

    total $15,752 · program services $13,933 · management and general $1,819

  • 16 · Occupancy

    total $18,153 · program services $18,153

  • 20 · Interest

    total $14,034 · program services $11,227 · management and general $2,807

  • 22 · Depreciation, depletion and amortization

    total $520,888 · program services $520,888

  • 23 · Insurance

    total $13,769 · program services $13,760 · management and general $9

  • 24a · Other expenses: PROGRAM EXPENSE

    total $147,075 · program services $118,007 · management and general $29,068

  • 24b · Other expenses: REPAIRS AND MAINTENANCE

    total $22,451 · program services $22,130 · management and general $321

  • 24c · Other expenses: BANK SERVICE CHARGES

    total $2,315 · program services $1,946 · management and general $369

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $146,124 · end of year $47,130

  • 2 · Savings and temporary cash investments

    beginning of year $4,298 · end of year $4,132

  • 3 · Pledges and grants receivable

    beginning of year $107,101 · end of year $324,023

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,115 · end of year $7,132

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

    $20,211,921

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

    $12,531,596

  • 10c · Land, buildings and equipment, net

    beginning of year $8,125,400 · end of year $7,680,325

  • 17 · Accounts payable and accrued expenses

    beginning of year $84,292 · end of year $26,073

  • 23 · Secured mortgages and notes payable

    beginning of year $311,960 · end of year $184,692

  • 27 · Net assets without donor restrictions

    beginning of year $7,927,652 · end of year $7,789,818

  • 28 · Net assets with donor restrictions

    beginning of year $62,134 · end of year $62,159

Mission and programs · 2022

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 $862,233 · Revenue $787,710

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Carol Mansfield

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Joe Thorrez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Kathleen Thorrez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Tatiana Grant

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Mike 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
2022
Filed
15 June 2024
IRS schema version
2022v5.0
Source object
202411699349301631

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

The source document this was parsed from is served over the API, which is where bulk and document access live.