Form 990 for tax year 2022
Filed by CORNERSTONE MINISTRIES INTERNATIONAL.
Totals
- Total revenue
- $2,067,301
- Total expenses
- $1,978,106
- Contributions and grants received
- $2,064,238
- Grants paid
- $1,097,660
- Program service revenue
- $0
- Investment income
- $3,063
- Other revenue
- $0
- Total assets, end of year
- $1,652,340
- Total liabilities, end of year
- $392,571
- Net assets or fund balances, end of year
- $1,259,769
- Program services expenses (Part IX)
- $1,585,322
- Management and general expenses
- $147,826
- Fundraising expenses
- $244,958
- Program service expenses (Part III)
- $1,585,322
Program services were 80.1% 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
$2,064,238
-
1g · Noncash contributions included above
$0
-
3 · Investment income
total $3,063 · related or exempt $3,063 · 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
-
6c · Rental income or loss
real property $0 · personal property $0
-
7c · Gain or loss
securities $0 · other assets $0
-
8a · Fundraising events: contributions included on line 1c
$0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $47,681 · program services $47,681
-
2 · Grants to domestic individuals
total $136,300 · program services $136,300
-
3 · Grants to foreign organizations and individuals
total $913,679 · program services $913,679
-
4 · Benefits paid to or for members
total $0 · program services $0
-
5 · Compensation of officers, directors and key employees
total $115,200 · program services $72,000 · management and general $23,040 · fundraising $20,160
-
6 · Compensation of disqualified persons
total $496,041 · program services $277,384 · management and general $53,709 · fundraising $164,948
-
10 · Payroll taxes
total $46,760 · program services $26,728 · management and general $5,871 · fundraising $14,161
-
11c · Fees: accounting
total $6,465 · management and general $6,465
-
11g · Fees: other
total $10,193 · program services $71 · management and general $10,101 · fundraising $21
-
13 · Office expenses
total $8,782 · program services $2,635 · management and general $1,756 · fundraising $4,391
-
14 · Information technology
total $15,393 · program services $7,500 · management and general $5,109 · fundraising $2,784
-
16 · Occupancy
total $35,382 · program services $3,538 · management and general $24,767 · fundraising $7,077
-
17 · Travel
total $34,708 · program services $26,031 · management and general $3,471 · fundraising $5,206
-
19 · Conferences, conventions and meetings
total $871 · program services $435 · management and general $175 · fundraising $261
-
22 · Depreciation, depletion and amortization
total $13,093 · program services $3,928 · management and general $2,619 · fundraising $6,546
-
24a · Other expenses: STATEMENT 1-OTHER EXPENSES
total $97,558 · program services $67,412 · management and general $10,743 · fundraising $19,403
-
24e · All other expenses
total $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $289,187 · end of year $236,863
-
2 · Savings and temporary cash investments
beginning of year $1,254,090 · end of year $1,357,392
-
4 · Accounts receivable
beginning of year $49,646 · end of year $34,069
-
7 · Other notes and loans receivable
beginning of year $5,000 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $30,000 · end of year $0
-
10a · Land, buildings and equipment: cost or other basis
$261,505
-
10b · Land, buildings and equipment: accumulated depreciation
$237,489
-
10c · Land, buildings and equipment, net
beginning of year $20,222 · end of year $24,016
-
17 · Accounts payable and accrued expenses
beginning of year $0 · end of year $0
-
18 · Grants payable
beginning of year $477,571 · end of year $392,571
-
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 $807,939
-
31 · Retained earnings, endowment or other funds
beginning of year $362,635 · end of year $451,830
Mission and programs · 2022
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 LOCAL 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, 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.
Expenses $342,250 · Grants $192,197
-
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.
Expenses $349,848 · Grants $274,128
-
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.
Expenses $620,989 · Grants $440,895
-
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. WE WERE CONTINUING TO TRAIN NORTH KOREANS WHO ARE STRANDED IN CHINA. WE HAVE TRAINED 19 LEADERS IN CHINA, NORTH KOREA, AND SOUTH KOREA IN 2022. IN 2022, 12 CHURCHES WERE PLANTED IN 6 REGIONS, AND THE NUMBER OF UNDERGROUND BELIEVERS INCREASED BY 34. WE ALSO STARTED TRAINING LEADERS IN SOUTH KOREA TO MOBILIZE NORTH KOREAN DEFECTORS FOR THE NK MISSION. WE IMPLEMENTED DIGITAL METHODS TO TRAIN NORTH KOREAN IN CHINA. WE DELIVERED 4 TABLETS AND 2,004 USB, 20 SD CARDS.
Expenses $173,970 · Grants $150,285
-
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 WIDOW 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, NECESSARY ITEMS. WE ALSO PARTNERSING WITH OTHER MINISTRIES, NGO, MISSIONARIES, AND ORGANIZATIONS. WE WERE ABLE TO PROVIDE SLIGHTLY OVER 160 TONS OF RICE TO OUR CHURCH NETWORK AND HELPERS. 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 $98,265 · Grants $40,153
As filed on the 2022 return.
Listed in Part VII
-
Isaac LeeISAAC LEE
PRESIDENT
- Total calculated
- $57,600
- From this org
- $57,600
- From related orgs
- $0
- Other
- $0
- Hours/week
- 60
-
Peter LeePETER LEE
EXECUTIVE DIRECTOR
- Total calculated
- $57,600
- From this org
- $57,600
- From related orgs
- $0
- Other
- $0
- Hours/week
- 60
-
Y I SongY I SONG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Seounghee KoSEOUNGHEE KO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
C I KimC 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
-
$22,500
LEADERS TRAINING AND MOBILIZING MISSIONARIES
-
$16,010
MISSIONARY TRAINING
-
SUPPORT OF MISSIONARY TRAINING
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 6 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202303099349300450
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.