Civic Intelligence

Cornerstone Academy Preparatory School

EIN 26-4073462 • 501(c)3 • San Jose, CA

Profile

Cornerstone academy preparatory school prepares scholars in kindergarten through grade six to excel in college preparatory secondary schools and beyond. Cornerstone academy provides a structured, rigorous education emphasizing literacy and mathematics that lays the foundation for academic success.

1598 Lucretia AveSan Jose, CA 95122

cornerstoneacademysj.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

38th percentile

0.02x

Higher debt load relative to assets than 38% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

31st percentile

0.01x

Higher debt load relative to revenue than 31% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

76th percentile

23%

Higher net margin than 76% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

77th percentile

$127,190

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 2.6% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

91st percentile

56%

Faster asset growth than 91% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

81st percentile

43%

Faster revenue growth than 81% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets38th percentile

Assets

Up

$3,188,564

Up $1,138,633 (+56%) from 2015

Liabilities

Down

$63,019

Down $13,197 (-17%) from 2015

Net Assets

Up

$3,125,545

Up $1,151,830 (+58%) from 2015

Operations
Liabilities / Revenue31st percentileNet Margin76th percentile

Revenue

Up

$4,980,286

Up $1,490,559 (+43%) from 2015

Expenses

Up

$3,828,456

Up $1,217,816 (+47%) from 2015

Net Income

Up

$1,151,830

Up $272,743 (+31%) from 2015

Trend Graphs

Balance Sheet Trend

Asset Growth91st percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$4.0M$3.0M$2.0M$1.0M$0Assets 2013: $887,400Liabilities 2013: $204,298Net Assets 2013: $683,1022013Assets 2014: $1,224,326Liabilities 2014: $129,698Net Assets 2014: $1,094,6282014Assets 2015: $2,049,931Liabilities 2015: $76,216Net Assets 2015: $1,973,7152015Assets 2016: $3,188,564Liabilities 2016: $63,019Net Assets 2016: $3,125,5452016

Highlighted filing

2016

Assets$3,188,564
Liabilities$63,019
Net Assets$3,125,545
Open 2016 Filing

Operations Trend

Revenue Growth81st percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0Expenses 2013: $1,749,2422013Revenue 2014: $2,894,486Expenses 2014: $2,482,960Net Income 2014: $411,5262014Revenue 2015: $3,489,727Expenses 2015: $2,610,640Net Income 2015: $879,0872015Revenue 2016: $4,980,286Expenses 2016: $3,828,456Net Income 2016: $1,151,8302016

Highlighted filing

2016

Revenue$4,980,286
Expenses$3,828,456
Net Income$1,151,830
Open 2016 Filing

Filings

Most recent year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,188,564
Liabilities
$63,019
Net assets
$3,125,545
Revenue
$4,980,286
Expenses
$3,828,456
Net income
$1,151,830
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2016Detailed filing. Detailed filing data is available for this year.$3.19$0.06$3.13$4.98$3.83$1.15
2015Detailed filing. Detailed filing data is available for this year.$2.05$0.08$1.97$3.49$2.61$0.88
2014Detailed filing. Detailed filing data is available for this year.$1.22$0.13$1.09$2.89$2.48$0.41
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.89$0.20$0.68$1.75
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Jan 16, 2017
Return Version
2015v3.0
Gross Receipts
$4,980,286
Mission and Program Overview

Mission

Cornerstone academy preparatory school prepares scholars in kindergarten through grade six to excel in college preparatory secondary schools and beyond. Cornerstone academy provides a structured, rigorous education emphasizing literacy and mathematics that lays the foundation for academic success.

To prepare scholars in kindergarten through grade three to excel in college prepatory.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,653,658$2,598,771▲ $945,113
Accounts Receivable$344,564$527,862▲ $183,298
Prepaid Expenses and Deferred Charges$51,709$61,931▲ $10,222
Total Assets$2,049,931$3,188,564▲ $1,138,633
Liabilities
Accounts Payable and Accrued Expenses$76,216$63,019▼ $13,197
Total Liabilities$76,216$63,019▼ $13,197
Net Assets / Fund Balance
Unrestricted Net Assets$1,921,033$2,938,369▲ $1,017,336
Temporarily Rstr Net Assets$52,682$187,176▲ $134,494
Total Net Assets Fund Balance$1,973,715$3,125,545▲ $1,151,830
Total Liabilities and Net Assets / Fund Balance$2,049,931$3,188,564▲ $1,138,633
Compensation and Service Providers
Top Officer Pay77th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Shara HegdeExecutive DirectorFT$127,190$127,190

Board Members and Trustees

NameTitle
Allison PutnamChair
Ann RoyMember
Brandon PaigeMember
Danh LeMember
Hanz SchmitzMember
Lily TangMember
Priya GhandikotaMember
Revenue and Support

Revenue Composition

Contributions and Grants
$4,980,286
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$100,975
Change in Net Assets
$1,151,830

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,980,286
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$4,980,286
Total Revenue per Form 990
$4,980,286
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,628,385
Other Expenses$1,200,071
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,979,733$95,534-$2,075,267
Other Employee Benefits$408,243$17,685-$425,928
Current Officers, Directors, Trustees, and Key Employees$127,190--$127,190
Travel$91,371--$91,371
All Other Expenses$3,789$40,043-$43,832
Other Expenses$40,190$238,946-$40,190
Total Functional Expenses$3,205,287$623,169$0$3,828,456

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,828,456
Total Expenses per Audited Statements$3,828,456
Total Expenses per Form 990$3,828,456
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

“Line 11a explanation - the auditor will provide a copy to be reviewed by the charter school's board before finalizing.”

Form 990, Part VI, Section B, Line 12C

“Prior to voting on any board members or bringing on potential employees, cornerstone academy always looks for potential conflicts of interest between candidates and the organization. None have come to light. However, we specify in our policy that any potential conflicts must be disclosed to the executive director and/or board of directors immediately.”

Form 990, Part VI, Section B, Line 15

“The executive director's compensation is determined by the board of directors who conducts a full performance evaluation yearly and considers external factors (anonymous staff survey, audit etc). This is conducted in a closed session during a general board meeting. Board officers do not receive any compensation. The process for compensating the school's key official is detailed above.”

Form 990, Part VI, Section C, Line 19

“The school makes its board-approved documents available for the public at the monthly board meetings. In addition, these documents are available upon request at the school.”

Filing and Contact Details

Filer

Filer Name
Cornerstone Academy Preparatory School
EIN
26-4073462
Phone
4083613876
Address
1598 LUCRETIA AVE, SAN JOSE, CA 95122

Signing Officer

Name
Shara Hedge
Title
Executive Director
Phone
4083613876
Signed
2017-01-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Allison Putnam
Formed
2010
Legal Domicile
CA
Voting Board Members
7
Independent Board Members
7
Employees
51
Volunteers
50

Preparer

Firm
Squar Milner Llp
Address
11717 BERNARDO PLAZA COURT SUITE, 215, SAN DIEGO, CA 92128
Preparer
James a Rotherham CPA
Phone
8584875751
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The process has not changed.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0LINE 11A EXPLANATION - THE AUDITOR WILL PROVIDE A COPY TO BE REVIEWED BY THE CHARTER SCHOOL'S BOARD BEFORE FINALIZING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PRIOR TO VOTING ON ANY BOARD MEMBERS OR BRINGING ON POTENTIAL EMPLOYEES, CORNERSTONE ACADEMY ALWAYS LOOKS FOR POTENTIAL CONFLICTS OF INTEREST BETWEEN CANDIDATES AND THE ORGANIZATION. NONE HAVE COME TO LIGHT. HOWEVER, WE SPECIFY IN OUR POLICY THAT ANY POTENTIAL CONFLICTS MUST BE DISCLOSED TO THE EXECUTIVE DIRECTOR AND/OR BOARD OF DIRECTORS IMMEDIATELY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE EXECUTIVE DIRECTOR'S COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS WHO CONDUCTS A FULL PERFORMANCE EVALUATION YEARLY AND CONSIDERS EXTERNAL FACTORS (ANONYMOUS STAFF SURVEY, AUDIT ETC). THIS IS CONDUCTED IN A CLOSED SESSION DURING A GENERAL BOARD MEETING. BOARD OFFICERS DO NOT RECEIVE ANY COMPENSATION. THE PROCESS FOR COMPENSATING THE SCHOOL'S KEY OFFICIAL IS DETAILED ABOVE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE SCHOOL MAKES ITS BOARD-APPROVED DOCUMENTS AVAILABLE FOR THE PUBLIC AT THE MONTHLY BOARD MEETINGS. IN ADDITION, THESE DOCUMENTS ARE AVAILABLE UPON REQUEST AT THE SCHOOL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE PROCESS HAS NOT CHANGED.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt052682
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0187176
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt02049931
IRS990/TotalAssetsEOYAmt03188564
IRS990/TotalAssetsGrp/BOYAmt02049931
IRS990/TotalAssetsGrp/EOYAmt03188564
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt04980286
IRS990/TotalEmployeeCnt051
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0623169
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03205287
IRS990/TotalFunctionalExpensesGrp/TotalAmt03828456
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt076216
IRS990/TotalLiabilitiesEOYAmt063019
IRS990/TotalLiabilitiesGrp/BOYAmt076216
IRS990/TotalLiabilitiesGrp/EOYAmt063019
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01973715
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03125545
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt03205287
IRS990/TotalReportableCompFromOrgAmt0127190
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt04980286
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt050
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02049931
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03188564
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt091371
IRS990/TravelGrp/TotalAmt091371
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01921033
IRS990/UnrestrictedNetAssetsGrp/EOYAmt02938369
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01598 LUCRETIA AVE
IRS990/USAddress/CityNm0SAN JOSE
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd095122
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0CORNERSTONEACADEMYSJ.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0SHARA HEDGE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum04083613876
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-01-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CORNERSTONE ACADEMY PREPARATORY SCHOOL
ReturnHeader/Filer/BusinessNameControlTxt0CORN
ReturnHeader/Filer/EIN0264073462
ReturnHeader/Filer/PhoneNum04083613876
ReturnHeader/Filer/USAddress/AddressLine1Txt01598 LUCRETIA AVE
ReturnHeader/Filer/USAddress/CityNm0SAN JOSE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd095122
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0330835986
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SQUAR MILNER LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt011717 BERNARDO PLAZA COURT SUITE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine2Txt0215
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SAN DIEGO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd092128
ReturnHeader/PreparerPersonGrp/PhoneNum08584875751
ReturnHeader/PreparerPersonGrp/PreparationDt02017-01-16
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JAMES A ROTHERHAM CPA
ReturnHeader/ReturnTs02017-01-16T10:57:37-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

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