Civic Intelligence

Cornerstone Christian Academy Inc.

EIN 31-1549327 • 501(c)3 • Willoughby Hills, OH

Pub. 78 Eligible

Profile

Cornerstone operates a k4 through 12th grade education program for 472 students, providing a complete educational experience to the youth of our surrounding communities. Cca educates students with life skills and knowledge they need to successfully navigate and lead in our world.

2846 Som Center RdWilloughby Hills, OH 44094

www.ccacornerstone.com

Siviq Scores

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

Liabilities / Assets

82nd percentile

0.56x

Higher debt load relative to assets than 82% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

80th percentile

0.70x

Higher debt load relative to revenue than 80% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2023

Net Margin

73rd percentile

20%

Higher net margin than 73% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

86th percentile

31%

Faster asset growth than 86% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2023

Revenue Growth

68th percentile

18%

Faster revenue growth than 68% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2023

Assets

Down

$2,997,391

Down $2,426,037 (-45%) from 2023

Liabilities

Down

$490,273

Down $2,553,634 (-84%) from 2023

Net Assets

Up

$2,507,118

Up $127,597 (+5.4%) from 2023

Revenue

Up

$4,391,762

Up $69,829 (+1.6%) from 2023

Expenses

Up

$4,264,165

Up $793,190 (+23%) from 2023

Net Income

Down

$127,597

Down $723,361 (-85%) from 2023

Trend Graphs

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2015: $959,016Liabilities 2015: $101,065Net Assets 2015: $857,9512015Assets 2021: $3,158,678Liabilities 2021: $1,966,720Net Assets 2021: $1,191,9582021Assets 2022: $4,672,108Liabilities 2022: $3,143,545Net Assets 2022: $1,528,5632022Assets 2023: $5,423,428Liabilities 2023: $3,043,907Net Assets 2023: $2,379,5212023Assets 2024: $2,997,391Liabilities 2024: $490,273Net Assets 2024: $2,507,1182024

Highlighted filing

2024

Assets$2,997,391
Liabilities$490,273
Net Assets$2,507,118

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2015: $2,118,116Expenses 2015: $2,294,435Net Income 2015: -$176,3192015Revenue 2021: $3,123,197Expenses 2021: $2,876,721Net Income 2021: $246,4762021Revenue 2022: $3,484,936Expenses 2022: $3,148,331Net Income 2022: $336,6052022Revenue 2023: $4,321,933Expenses 2023: $3,470,975Net Income 2023: $850,9582023Revenue 2024: $4,391,762Expenses 2024: $4,264,165Net Income 2024: $127,5972024

Highlighted filing

2024

Revenue$4,391,762
Expenses$4,264,165
Net Income$127,597

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Nov 8, 2024
Return Version
2023v5.0
Gross Receipts
$4,391,762
Mission and Program Overview

Mission

Cornerstone operates a k4 through 12th grade education program for 472 students, providing a complete educational experience to the youth of our surrounding communities. Cca educates students with life skills and knowledge they need to successfully navigate and lead in our world.

Cornerstone christian academy was incorporated in 2000 as a non-profit organization for the purpose of operating a private christian school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$2,200,065$2,191,896▼ $8,169
Land, Buildings, and Equipment, Net$548,026$661,692▲ $113,666
Cash and Non-Interest-Bearing Accounts$166,145$98,806▼ $67,339
Prepaid Expenses and Deferred Charges$82,388--
Accounts Receivable$2,426,804$44,997▼ $2,381,807
Total Assets$5,423,428$2,997,391▼ $2,426,037
Liabilities
Mortgage Notes Payable Secured by Investment Property$348,027$323,949▼ $24,078
Deferred Revenue$2,658,841$142,267▼ $2,516,574
Accounts Payable and Accrued Expenses$37,039$24,057▼ $12,982
Total Liabilities$3,043,907$490,273▼ $2,553,634
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,379,521$2,492,443▲ $112,922
Net Assets With Donor Restrictions-$14,675-
Total Net Assets Fund Balance$2,379,521$2,507,118▲ $127,597
Total Liabilities and Net Assets / Fund Balance$5,423,428$2,997,391▼ $2,426,037

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$363,284$328,362$212,800
Leasehold Improvements$15,802$346,662$23,703
Buildings$84,587$151,260$23,222
Land$198,019--
Compensation and Service Providers

Board Members and Trustees

NameTitle
JAMES O'LEARYPresident
Dan HuffmanDirector/tru
Julie BelichDirector/tru
Lenora PriceDirector/tru
Randy VerdiDirector/tru
Carole TerkelsenSecretary
Charles RuthTreasurer
Richard HansenVice-preside
Revenue and Support

Revenue Composition

Contributions and Grants
$42,117
Program Service Revenue
$4,204,748
Investment Income
$89,592
Other Revenue
$55,305
All Other Contributions
$42,117
Change in Net Assets
$127,597
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,673,527
Other Expenses$1,590,638
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,566,435$655,286-$2,221,721
Occupancy$509,423$56,602-$566,025
Other Employee Benefits$182,691$74,621-$257,312
All Other Expenses$211,184--$211,184
Payroll Taxes$115,131$47,025-$162,156
Other Expenses$91,099--$91,099
Office Expenses$40,960$21,653-$62,613
Depreciation Depletion$52,396--$52,396
Information Technology$35,160$3,907-$39,067
Pension Plan Contributions$22,960$9,378-$32,338
Insurance$12,273$1,363-$13,636
Fees for Services Other$8,042$3,283-$11,325
Fees for Services Accounting$510$2,040-$2,550
Total Functional Expenses$3,389,007$875,158$0$4,264,165
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
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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, Page 6, Part VI, Line 11B

Form 990 and related schedules are prepared by an outside accountant using the information provided by the organization's cfo. Form 990 is then presented to and approved by the board of directors prior to submission.

Form 990, Page 6, Part VI, Line 12C

Conflict of interest statements are updated and reviewed annually or as changes occur.

Form 990, Page 6, Part VI, Line 15A

The board of directors approves the salaries of upper management. Wage comparability studies have been used in the past for evaluating salaries of upper managements.

Form 990, Page 6, Part VI, Line 15B

The board of directors approves the salaries of upper management. Wage comparability studies have been used in the past for evaluating salaries of upper managements.

Form 990, Page 6, Part VI, Line 19

The organization's governing documents, conflict of interest policy, and financial statements are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Cornerstone Christian Academy
EIN
31-1549327
Phone
4409439260
Address
2846 SOM CENTER RD, WILLOUGHBY HILLS, OH 44094

Signing Officer

Name
Lenora Price
Title
Director/trustee
Phone
4409439260
Signed
2024-11-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
JAMES O'LEARY
Formed
2000
Legal Domicile
Oh
Voting Board Members
8
Independent Board Members
8
Employees
87
Volunteers
47

Preparer

Firm
Gallovic Granito and Co Ltd
Address
8518 MENTOR AVE SUITE A, MENTOR, OH 44060-5838
Preparer
Sam Calic
Phone
4409511173
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Cornerstone christian academy (cca) operates a k4 through 12th grade education program for approximately 500 students, providing a complete educational experience to the youth of our surrounding communities. Cca educates students with life skills and knowledge they need to successfully navigate and lead in our world.

Form 990, Page 1, Part I, Line 6

Volunteers are primarily parents and they help with fellowhip activities, classroom assistance, and support of events and activities.

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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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IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0212800
IRS990ScheduleD/LandGrp/BookValueAmt0198019
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0198019
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt015802
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IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0CORNERSTONE CHRISTIAN ACADEMY PUBLICIZES ITS NONDISCRIMATION POLICY ON ITS WEBSITE, IN MEDIA ADVERTISING, AND ON ADMISSIONS AND EMPLOYMENT LITERATURE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1CORNERSTONE CHRISTIAN ACADEMY RECEIVES FUNDING FROM THE OHIO DEPARTMENT OF EDUCATION FOR EDCHOICE SCHOLARSHIPS, ADMINISTRATIVE COST REIMBURSEMENT, AND OTHER EXPENSE REIMBURSEMENTS.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 6
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0CORNERSTONE CHRISTIAN ACADEMY (CCA) OPERATES A K4 THROUGH 12TH GRADE EDUCATION PROGRAM FOR APPROXIMATELY 500 STUDENTS, PROVIDING A COMPLETE EDUCATIONAL EXPERIENCE TO THE YOUTH OF OUR SURROUNDING COMMUNITIES. CCA EDUCATES STUDENTS WITH LIFE SKILLS AND KNOWLEDGE THEY NEED TO SUCCESSFULLY NAVIGATE AND LEAD IN OUR WORLD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1VOLUNTEERS ARE PRIMARILY PARENTS AND THEY HELP WITH FELLOWHIP ACTIVITIES, CLASSROOM ASSISTANCE, AND SUPPORT OF EVENTS AND ACTIVITIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 AND RELATED SCHEDULES ARE PREPARED BY AN OUTSIDE ACCOUNTANT USING THE INFORMATION PROVIDED BY THE ORGANIZATION'S CFO. FORM 990 IS THEN PRESENTED TO AND APPROVED BY THE BOARD OF DIRECTORS PRIOR TO SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONFLICT OF INTEREST STATEMENTS ARE UPDATED AND REVIEWED ANNUALLY OR AS CHANGES OCCUR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD OF DIRECTORS APPROVES THE SALARIES OF UPPER MANAGEMENT. WAGE COMPARABILITY STUDIES HAVE BEEN USED IN THE PAST FOR EVALUATING SALARIES OF UPPER MANAGEMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE BOARD OF DIRECTORS APPROVES THE SALARIES OF UPPER MANAGEMENT. WAGE COMPARABILITY STUDIES HAVE BEEN USED IN THE PAST FOR EVALUATING SALARIES OF UPPER MANAGEMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/BuildTS02024-10-15 13:58:12Z
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR/TRUSTEE
ReturnHeader/BusinessOfficerGrp/PhoneNum04409439260
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-08
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