Civic Intelligence

Three Pillars an Educational Services Provider

990 • Fiscal year 2015 • EIN 27-0634528

Jul 01, 2014 to Jun 30, 2015 • Filed on Feb 12, 2016

Organization ProfileWWW.CORNERSTONECHARTERS.ORG

View Organization Page

306 East 4th StreetRoyal Oak, MI 48067

(248) 439-6228

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

74th percentile

0.55x

Higher debt load relative to assets than 74% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

33rd percentile

0.12x

Higher debt load relative to revenue than 33% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Net Margin

33rd percentile

-0.3%

Higher net margin than 33% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

56th percentile

$188,550

Higher top officer pay than 56% of similar nonprofits.

Top officer pay equals 1.9% of source-year revenue.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Asset Growth

58th percentile

3.2%

Faster asset growth than 58% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

81st percentile

22%

Faster revenue growth than 81% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets74th percentile

Assets

Up

$2,321,471

Up $70,960 (+3.2%) from 2014

Net Assets

Down

$1,052,453

Down $33,346 (-3.1%) from 2014

Liabilities

Up

$1,269,018

Up $104,306 (+9.0%) from 2014

Revenue And Expenses
Liabilities / Revenue33rd percentileNet Margin33rd percentile

Revenue

Up

$10,188,507

Up $1,824,759 (+22%) from 2014

Expenses

Up

$10,221,853

Up $2,230,504 (+28%) from 2014

Net Income

Down

-$33,346

Down $405,745 (-109%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth58th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$4.0M$3.0M$2.0M$1.0M$0Assets 2013: $1,562,089Liabilities 2013: $848,689Net Assets 2013: $713,4002013Assets 2014: $2,250,511Liabilities 2014: $1,164,712Net Assets 2014: $1,085,7992014Assets 2015: $2,321,471Liabilities 2015: $1,269,018Net Assets 2015: $1,052,4532015Assets 2016: $2,608,002Liabilities 2016: $1,702,293Net Assets 2016: $905,7092016Assets 2017: $2,805,547Liabilities 2017: $1,522,843Net Assets 2017: $1,282,7042017Assets 2018: $3,594,377Liabilities 2018: $2,295,256Net Assets 2018: $1,299,1212018Assets 2020: $3,980,283Liabilities 2020: $2,600,739Net Assets 2020: $1,379,5442020

Highlighted filing

2015

Assets$2,321,471
Liabilities$1,269,018
Net Assets$1,052,453
Open 2015 Filing

Operations Trend

Revenue Growth81st percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$30M$20M$10M$0-$10MExpenses 2013: $6,131,7162013Revenue 2014: $8,363,748Expenses 2014: $7,991,349Net Income 2014: $372,3992014Revenue 2015: $10,188,507Expenses 2015: $10,221,853Net Income 2015: -$33,3462015Revenue 2016: $11,989,013Expenses 2016: $12,135,757Net Income 2016: -$146,7442016Revenue 2017: $14,194,165Expenses 2017: $13,817,170Net Income 2017: $376,9952017Revenue 2018: $20,449,230Expenses 2018: $20,432,813Net Income 2018: $16,4172018Revenue 2020: $23,212,749Expenses 2020: $24,348,302Net Income 2020: -$1,135,5532020

Highlighted filing

2015

Revenue$10,188,507
Expenses$10,221,853
Net Income-$33,346
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Feb 12, 2016
Return Version
2014v6.0
Gross Receipts
$10,188,507
Mission and Program Overview

Mission

To provide quality educational, operational, financial, and management services to public school academies and other institutions.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$1,285,831$1,576,333▲ $290,502
Cash and Non-Interest-Bearing Accounts$953,180$697,135▼ $256,045
Prepaid Expenses and Deferred Charges$7,700$42,403▲ $34,703
Total Assets$2,250,511$2,321,471▲ $70,960
Other Assets Total$3,800$5,600▲ $1,800
Liabilities
Accounts Payable and Accrued Expenses$794,712$899,018▲ $104,306
Unsecured Notes Loans Payable$370,000$370,000→ $0
Total Liabilities$1,164,712$1,269,018▲ $104,306
Net Assets / Fund Balance
Unrestricted Net Assets$1,085,799$1,052,453▼ $33,346
Total Net Assets Fund Balance$1,085,799$1,052,453▼ $33,346
Total Liabilities and Net Assets / Fund Balance$2,250,511$2,321,471▲ $70,960
Compensation and Service Providers
Top Officer Pay56th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Thomas a WillisCEOFT$151,479$37,071$188,550
Joshua BrittonCOOFT$146,380$27,143$173,523
Eugene SeabornChief Academic OfficerFT$141,107$1,000$142,107
Jill BachleCFOFT$109,797$2,934$112,731
Michael GriffieHigh School PrincipalFT$101,102$7,188$108,290
Ernestine SandersDirector of Special EducationFT$104,567$1,488$106,055

Board Members and Trustees

NameTitle
David BreenBoard President
Kathleen GilmoreBoard Vice President
Robert PulteBoard Member
Larry DentonSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$10,188,507
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$33,617
Change in Net Assets
$-33,346

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,946,507
Revenue Not Reported on Financial Statements
$242,000
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$242,000
Total Revenue per Audited Statements
$9,946,507
Total Revenue per Form 990
$10,188,507
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$9,360,502
Other Expenses$589,351
Grants and Similar Amounts Paid$272,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$6,087,343$540,542-$6,627,885
Other Employee Benefits$1,451,182--$1,451,182
Current Officers, Directors, Trustees, and Key Employees-$666,214-$666,214
Payroll Taxes$504,257$85,917-$590,174
Grants to Domestic Orgs$272,000--$272,000
Conferences and Meetings$113,964--$113,964
Fees for Services Other-$105,848-$105,848
Information Technology-$70,315-$70,315
Occupancy-$49,800-$49,800
Fees for Services Accounting-$42,120-$42,120
Office Expenses-$36,530-$36,530
Pension Plan Contributions-$25,047-$25,047
Insurance-$22,789-$22,789
Advertising-$21,068-$21,068
Fees for Services Legal-$11,217-$11,217
Interest-$11,050-$11,050
All Other Expenses-$10,817-$10,817
Other Expenses-$4,498-$4,498
Travel$1,640--$1,640
Fees for Service Investment Mgmnt Fees-$1,317-$1,317
Total Functional Expenses$8,430,386$1,791,467$0$10,221,853

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$10,221,853
Expenses per Audited Statements$9,979,853
Total Expenses per Audited Statements$9,979,853
Expenses Not Reported on Financial Statements$242,000
Other Expense Adjustments$242,000
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Madison-carver AcademyDetroit, MI115To Support Educational Programming$174,000
Cornerstone Health and Technology SchoolDetroit, MI115To Support Educational Programming$98,000
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
Yes
Audit committee
No
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 A, Line 7A

“Each of the cornerstone academies' board of directors shall appoint or reappoint esp directors to the esp board.”

Form 990, Part VI, Section B, Line 11

“The ceo and cfo will review the form 990 before filing. The board will receive a copy after filing.”

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

“Iso processes and procedures are audited internally and externally every year in addition to regular improvement efforts. If a conflict exists, they recuse themselves from voting on the matter.”

Form 990, Part VI, Section B, Line 15

“In january 2011, the ccs board was presented with a report from rahmberg stover for their compensation process. This report was based on a market analysis they performed, and it provided a base salary system, including job descriptions for all positions in the organization. The salary structure had grades and ranges and formulas to drive future pay increases. Bi-annually this structure is reviewed and adjustments made if deemed necesary. The board approves the compensation and documents it in their meeting minutes. This process was last undertaken in april 2015.”

Form 990, Part VI, Section C, Line 19

“The organization provides copies of its governing documents, conflict of interest policy, and financial statements upon request at the corporate offices.”

Filing and Contact Details

Filer

Filer Name
Three Pillars an Educational Services Provider
EIN
27-0634528
Address
306 EAST 4TH STREET, ROYAL OAK, MI 48067
Doing Business As
Cornerstone Charter Schools

Signing Officer

Name
Thomas Willis
Title
CEO
Phone
2484396228
Signed
2016-02-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Thomas Willis
Formed
2009
Legal Domicile
Mi
Voting Board Members
4
Independent Board Members
4
Employees
177
Volunteers
4

Preparer

Firm
Plante & Moran Pllc
Address
2601 CAMBRIDGE CT SUITE 500, AUBURN HILLS, MI 48326
Preparer
Teresa L Pollock
Phone
2483757100
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“Cornerstone charter schools has been granted tax-exempt status with the internal revenue service (irs) under the provisions of internal revenue code section 501(c)(3) effective june 6, 2012. The organization has requested the irs to apply this tax exemption retroactively to the inception of the organization, but final determination has not yet been received. No amounts have been expensed or accrued for income taxes from inception; however the potential liability for the time period from the date of inception through june 5, 2012 is approximately $165,000. Net income from activities unrelated to cornerstone charter schools' tax-exempt purpose is also subject to taxation. For the years ended june 30, 2015 and 2014, there were no taxes on unrelated business income. Accounting principles generally accepted in the united states of america require management to evaluate tax positions taken by the organization and recognize a tax liability if the organization has taken an uncertain position that more likely than not would not be sustained upon examination by the irs or other applicable taxing authorities. Management has analyzed the tax positions taken by the organization and has concluded that as of june 30, 2014 and june 30, 2015, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the financial statements. The organization is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The organization is subject to income tax examinations for all years since inception.”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“GRANTS 242,000.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“GRANTS 242,000.”

Raw XML AppendixShowing 400 of 489 raw XML fields

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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IRS990/OtherAssetsTotalGrp/BOYAmt03800
IRS990/OtherAssetsTotalGrp/EOYAmt05600
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt01451182
IRS990/OtherEmployeeBenefitsGrp/TotalAmt01451182
IRS990/OtherExpensesGrp/Desc0LICENSE FEES
IRS990/OtherExpensesGrp/Desc1HEALTHCARE TAX
IRS990/OtherExpensesGrp/Desc2SPARK EXPENSES
IRS990/OtherExpensesGrp/Desc3ISO EXPENSES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt055246
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt125942
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt25190
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt34498
IRS990/OtherExpensesGrp/TotalAmt055246
IRS990/OtherExpensesGrp/TotalAmt125942
IRS990/OtherExpensesGrp/TotalAmt25190
IRS990/OtherExpensesGrp/TotalAmt34498
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0540542
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt06087343
IRS990/OtherSalariesAndWagesGrp/TotalAmt06627885
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt085917
IRS990/PayrollTaxesGrp/ProgramServicesAmt0504257
IRS990/PayrollTaxesGrp/TotalAmt0590174
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt025047
IRS990/PensionPlanContributionsGrp/TotalAmt025047
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt07700
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt042403
IRS990/PrincipalOfficerNm0THOMAS WILLIS
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt08357026
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0207500
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt0514473
IRS990/PYOtherRevenueAmt06722
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0372399
IRS990/PYSalariesCompEmpBnftPaidAmt07269376
IRS990/PYTotalExpensesAmt07991349
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt08363748
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-33346
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0MISCELLANEOUS INCOME
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME:
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt010188507
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt08357026
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt06329372
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0243416
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0214109
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt025332430
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0136
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0334
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0167
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0637
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt08037665
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt06722
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt01162
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt0209305
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt032
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0217221
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99150
IRS990ScheduleA/PublicSupportTotal170Amt025332430
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt010188507
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt08357026
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt06329372
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0243416
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0214109
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt025332430
IRS990ScheduleA/TotalSupportAmt025550288
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0242000
IRS990ScheduleD/ExpensesSubtotalAmt09979853
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherExpensesNotIncludedAmt0242000
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0242000
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0242000
IRS990ScheduleD/RevenueSubtotalAmt09946507
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0CORNERSTONE CHARTER SCHOOLS HAS BEEN GRANTED TAX-EXEMPT STATUS WITH THE INTERNAL REVENUE SERVICE (IRS) UNDER THE PROVISIONS OF INTERNAL REVENUE CODE SECTION 501(C)(3) EFFECTIVE JUNE 6, 2012. THE ORGANIZATION HAS REQUESTED THE IRS TO APPLY THIS TAX EXEMPTION RETROACTIVELY TO THE INCEPTION OF THE ORGANIZATION, BUT FINAL DETERMINATION HAS NOT YET BEEN RECEIVED. NO AMOUNTS HAVE BEEN EXPENSED OR ACCRUED FOR INCOME TAXES FROM INCEPTION; HOWEVER THE POTENTIAL LIABILITY FOR THE TIME PERIOD FROM THE DATE OF INCEPTION THROUGH JUNE 5, 2012 IS APPROXIMATELY $165,000. NET INCOME FROM ACTIVITIES UNRELATED TO CORNERSTONE CHARTER SCHOOLS' TAX-EXEMPT PURPOSE IS ALSO SUBJECT TO TAXATION. FOR THE YEARS ENDED JUNE 30, 2015 AND 2014, THERE WERE NO TAXES ON UNRELATED BUSINESS INCOME. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE ORGANIZATION AND RECOGNIZE A TAX LIABILITY IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ORGANIZATION AND HAS CONCLUDED THAT AS OF JUNE 30, 2014 AND JUNE 30, 2015, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. THE ORGANIZATION IS SUBJECT TO INCOME TAX EXAMINATIONS FOR ALL YEARS SINCE INCEPTION.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1GRANTS 242,000.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2GRANTS 242,000.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt010221853
IRS990ScheduleD/TotalRevenuePerForm990Amt010188507
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt09946507
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt09979853
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt098000
IRS990ScheduleI/RecipientTable/CashGrantAmt1174000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0115
IRS990ScheduleI/RecipientTable/IRCSectionDesc1115
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0TO SUPPORT EDUCATIONAL PROGRAMMING
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1TO SUPPORT EDUCATIONAL PROGRAMMING
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0CORNERSTONE HEALTH AND TECHNOLOGY SCHOOL
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1MADISON-CARVER ACADEMY
IRS990ScheduleI/RecipientTable/RecipientEIN0454847915
IRS990ScheduleI/RecipientTable/RecipientEIN1611684134
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt017351 SOUTHFIELD FWY
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt119900 MCINTYRE ST
IRS990ScheduleI/RecipientTable/USAddress/CityNm0DETROIT
IRS990ScheduleI/RecipientTable/USAddress/CityNm1DETROIT
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0MI
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1MI
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd048235
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd148219
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE USE OF FUNDS HAS TO SUPPORT THE ORGANIZATION'S MISSION OF PREPARING STUDENTS TO SUCCEED IN A GLOBAL COMMUNITY. DUE TO THE ORGANIZATION'S INVOLVEMENT IN DAILY OPERATIONS OF RECIPIENT SCHOOLS, THEY ARE ABLE TO DETERMINE THAT FUNDS ARE USED FOR EDUCATIONAL PURSUITS.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleI/Total501c3OrgCnt02
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/CompensationCommitteeInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/IndependentConsultantInd0X
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0151479
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt1146380
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount024972
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount115370
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt11314
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt012099
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt110459
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0THOMAS A WILLIS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1JOSHUA BRITTON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1COO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0188550
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt1173523
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt10
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleJ/WrittenEmploymentContractInd0X
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EACH OF THE CORNERSTONE ACADEMIES' BOARD OF DIRECTORS SHALL APPOINT OR REAPPOINT ESP DIRECTORS TO THE ESP BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CEO AND CFO WILL REVIEW THE FORM 990 BEFORE FILING. THE BOARD WILL RECEIVE A COPY AFTER FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ISO PROCESSES AND PROCEDURES ARE AUDITED INTERNALLY AND EXTERNALLY EVERY YEAR IN ADDITION TO REGULAR IMPROVEMENT EFFORTS. IF A CONFLICT EXISTS, THEY RECUSE THEMSELVES FROM VOTING ON THE MATTER.

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,321,471
Liabilities
$1,269,018
Net assets
$1,052,453
Revenue
$10,188,507
Expenses
$10,221,853
Net income
-$33,346
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.98$2.60$1.38$23.2$24.3$1.14
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.59$2.30$1.30$20.4$20.4$0.02
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.81$1.52$1.28$14.2$13.8$0.38
2016Detailed filing. Detailed filing data is available for this year.$2.61$1.70$0.91$12.0$12.1$0.15
2015Detailed filing. Detailed filing data is available for this year.$2.32$1.27$1.05$10.2$10.2$0.03
2014Detailed filing. Detailed filing data is available for this year.$2.25$1.16$1.09$8.36$7.99$0.37
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.56$0.85$0.71$6.13
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2015 filings • 501(c)3 • $10M-$25M nonprofits