Cornerstone Christian Academy Of Mclean County Inc, Cornerstone Christian Academy in Bloomington, Illinois (IL)

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Cornerstone Christian Academy Of Mclean County Inc, Cornerstone Christian Academy
Employer Identification Number (EIN)364164644
Name of OrganizationCornerstone Christian Academy Of Mclean County Inc
Secondary NameCornerstone Christian Academy
In Care of NameBecky Shamess
AddressPO BOX 1608, Bloomington, IL 61702-1608
ActivitiesNursery school
SubsectionEducational Organization
Ruling Date10/1997
DeductibilityContributions are deductible
FoundationSchool
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2012
Assets$5,000,000 to $9,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$7,071,507
Amount of Income$2,930,646
Form 990 Revenue Amount$2,930,646
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Kindergarten, Preschool, Nursery School, Early Admissions


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Amount of income in 2012: $2,930,646
Cornerstone Christian Academy Of Mclean County Inc, Cornerstone Christian Academy: 

 $2,930,646
Other organizations performing similar types of work: 

 $316,606

Assets in 2012: $7,071,507
Cornerstone Christian Academy Of Mclean County Inc, Cornerstone Christian Academy: 

 $7,071,507
Other organizations performing similar types of work: 

 $181,844

Expenses in 2007: $2,763,875
This organization: 

 $2,763,875
Other organizations performing similar types of work: 

 $3,350,510

Income to expenses ratio in 2007: 1.1
Cornerstone Christian Academy Of Mclean County Inc, Cornerstone Christian Academy: 

 1.1
Other organizations performing similar types of work: 

 1.0

Expenses allocated to program services in 2007: 86.0%
This organization: 

 86.0%
Other organizations performing similar types of work: 

 81.2%

Number of employees in 2007: 66
This organization: 

 66
Other organizations performing similar types of work: 

 51

Employees paid over $50,000 in 2007: 3.0%
This organization: 

 3.0%
Other organizations performing similar types of work: 

 5.3%

Grants share in income in 2007: 22.6%
Cornerstone Christian Academy Of Mclean County Inc, Cornerstone Christian Academy: 

 22.6%
Other organizations performing similar types of work: 

 11.1%

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Expenses for 2007

Functional Expenses for 2007 ($)

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
200220032004200520062007
Total revenue$2,124,781$1,691,000$2,197,413$2,615,652$3,530,811$2,910,028
Contributions, gifts, grants, and similar amounts received$997,271$449,143$361,829$586,024$1,244,440$658,033
Contributions to donor advised funds$0$0
Direct public support$997,271$449,143$361,829$586,024$1,244,440$658,033
Indirect public support$0$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0
Program service revenue including government fees and contracts$1,114,107$1,234,706$1,828,613$2,022,056$2,262,211$2,220,160
Membership dues and assessments$0$0$0$0$0$0
Interest on savings and temporary cash investments$12,295$6,315$0$0$11,367$8,275
Dividends and interest from securities$0$0$6,066$6,910$11,871$22,795
Net rental income or (loss)$0$836$905$662$922$765
Gross rents$0$5,750$5,175$5,175$5,944$6,138
Less: rental expenses$0$4,914$4,270$4,513$5,022$5,373
Other investment income$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$1,108$0$0$0$0$0
Gross amount from sales of assets other than inventory$20,787$0$0$0$0$0
Less: cost or other basis and sales expenses$19,679$0$0$0$0$0
Net income or (loss) from special events and activities$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0
Total expenses$1,259,180$1,731,997$2,290,386$2,531,105$2,744,652$2,763,875
Program services$1,191,097$1,584,376$2,144,591$2,388,516$2,389,264$2,375,916
Management and general$68,083$147,621$145,795$142,589$355,388$387,959
Fundraising$0$0$0$0$0$0
Payments to affiliates$0$0$0$0$0$0
Net assets or fund balances at end of year$2,989,914$2,948,917$2,855,944$2,940,491$3,728,747$3,870,955
Excess or (deficit) for the year$865,601$-40,997$-92,973$84,547$786,159$146,153
Net assets or fund balances at beginning of year$2,124,313$2,989,914$2,948,917$2,855,944$2,940,491$3,728,747
Other changes in net assets or fund balances$0$0$0$0$2,097$-3,945
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$2,763,875$2,375,916$387,959$0
Grants paid from donor advised funds$0
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$114,872$0$114,872$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$1,646,925$1,392,186$254,739$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$85,485$85,485$0$0
Payroll taxes$141,707$141,707$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$0$0$0$0
Legal fees$0$0$0$0
Supplies$5,557$5,557$0$0
Telephone$0$0$0$0
Postage and shipping$0$0$0$0
Occupancy$75,362$75,362$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$0$0$0$0
Travel$0$0$0$0
Conferences, conventions, and meetings$7,132$7,132$0$0
Interest$182,190$182,190$0$0
Depreciation, depletion, etc.$141,355$141,355$0$0
Other expenses not covered above$363,290$344,942$18,348$0
Balance Sheets
200220032004200520062007
Total assets$3,879,465$6,481,619$6,221,593$6,089,276$6,783,661$8,593,382
Cash - non-interest-bearing$200,720$153,033$42,247$0$24,944$0
Savings and temporary cash investments$626,398$205,162$128,460$67,766$165,049$267,118
Accounts receivable less allowance for doubtful accounts$5,222$4,691$14,085$17,129$22,794$1,687,348
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0
Grants receivable$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0$0
Inventories for sale or use$0$0$0$0$0$0
Prepaid expenses and deferred charges$0$0$0$0$0$0
Investments - publicly-traded securities$663,835$0
Investments - other securities$0$0$0$0$0$114,685
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0
Investments - other$0$0$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$3,047,125$6,118,733$6,036,801$6,004,381$5,907,039$6,524,231
Other assets, including program-related investments$0$0$0$0$0$0
Total liabilities$889,551$3,532,702$3,365,649$3,148,785$3,054,914$4,722,427
Accounts payable and accrued expenses$50,766$144,702$21,624$21,518$27,437$34,922
Grants payable$0$0$0$0$0$0
Deferred revenue$0$0$74,224$103,576$115,676$1,851,853
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0
Tax-exempt bond liabilities$838,783$3,388,000$3,269,801$3,022,801$0$0
Mortgages and other notes payable$0$0$0$0$2,911,801$2,803,801
Other liabilities$2$0$0$890$0$31,851
Total liabilities and net assets/fund balances$3,879,465$6,481,619$6,221,593$6,089,276$6,783,661$8,593,382
Total net assets or fund balances$2,989,914$2,948,917$2,855,944$2,940,491$3,728,747$3,870,955
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
200220032004200520062007
Total revenue$2,124,781$1,691,000$2,197,413$2,615,652$3,530,811$2,910,028
Total revenue, gains, and other support per audited financial statements$2,124,781$1,695,914$2,202,588$2,620,827$3,537,930$2,911,456
Other expenses$0$4,914$5,175$5,175$7,119$1,428
Net unrealized gains on investments$0$0$0$0$2,097$-3,945
Donated services and use of facilities$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0
Other$0$4,914$5,175$5,175$5,022$5,373
Other revenue$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0
Other$0$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
200220032004200520062007
Total expenses$1,259,180$1,731,997$2,290,386$2,531,105$2,744,652$2,763,875
Total expenses and losses per audited financial statements$1,259,180$1,736,911$2,294,656$2,535,618$2,749,674$2,769,248
Other revenue$0$4,914$4,270$4,513$5,022$5,373
Donated services and use of facilities$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0
Losses$0$0$0$0$0$0
Other$0$4,914$4,270$4,513$5,022$5,373
Other expenses$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0
Other$0$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
40$61,697$0$0
40$53,175$0$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings10
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 200666
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$765$0$2,251,230
Program service revenue
Program service revenue 1000000$000$0$5,200
Program service revenue 2000000$000$0$2,214,960
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$000$0$8,275
Dividends and interest from securities000000$000$0$22,795
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed propertyCrop production$76500$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
Enter the total number of donor advised funds owned at the end of the tax year$0
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that receives a substantial part of its support from a governmental unit or from the general public
Support Schedule
200120022003200420052006
Total$2,890,153$2,124,781$1,691,000$2,197,413$2,615,652$3,530,811
Gifts, grants, and contributions received$1,962,920$997,271$449,143$361,829$586,024$1,244,440
Membership fees received$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$909,584$1,114,107$1,234,706$1,828,613$2,022,056$2,262,211
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$17,649$13,403$6,315$6,066$6,910$23,238
Net income from unrelated business activities not included above$0$0$836$905$662$922
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0
Other income$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Unrelated Trade or Business Income (for 2009)
IncomeExpensesNet
Total$61,381$5,412$726
Gross receipts or sales less returns and allowances$0$0$0
Cost of goods sold$0$0$0
Gross profit$0$0$0
Capital gain net income$0$0$0
Net gain$0$0$0
Capital loss deduction for trusts$0$0$0
Income (loss) from partnerships and S corporations$0$0$0
Rent income$61,381$0$0
Unrelated debt-financed income$0$0$0
Interest, annuities, royalties, and rents from controlled organizations$0$0$0
Investment income of a section 501(c)(7), (9), or (17) organization$0$0$0
Exploited exempt activity income$0$0$0
Advertising income$0$0$0
Other income$0$0$0
Deductions Not Taken Elsewhere (for 2009)
Total deductions$0
Compensation of officers, directors, and trustees$0
Salaries and wages$0
Repairs and maintenance$0
Bad debts$0
Interest$0
Taxes and licenses$0
Charitable contributions$0
Depreciation$0
Depletion$0
Contributions to deferred compensation plans$0
Employee benefit programs$0
Excess exempt expenses$0
Excess readership costs$0
Other deductions$0
Unrelated business taxable income$0
Unrelated business taxable income before net operating loss deduction$726
Net operating loss deduction$0
Unrelated business taxable income before specific deduction$726
Specific deduction$1,000
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Organizations performing similar types of work
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1Grand Rapids Christian Schools1508 Alexander St Se, Grand Rapids, MI 49506-3200MI1970-06$50,813,482
2Pine School Inc12350 Se Federal Hwy, Hobe Sound, FL 33455-5515FL1970-08$37,971,547
3Rowland Hall-St Marks School720 S Guardsman Way, Salt Lake Cty, UT 84108-1374UT1969-05$22,066,845
4Chestnut Hill School428 Hammond St, Chestnut Hill, MA 02467-1229MA1959-03$10,735,613
5Akiba Academy Of Dallas12324 Merit Dr, Dallas, TX 75251-2222TX1964-02$6,533,679
6Rogers Park Montessori School1800 W Balmoral Ave, Chicago, IL 60640-1002IL1967-09$4,934,904
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9Waldorf Association Of Portland Inc2300 Se Harrison St, Milwaukie, OR 97222-7527OR1983-03$3,554,799
10Cornerstone Christian Academy Of Mclean County Inc, Cornerstone Christian AcademyPO BOX 1608, Bloomington, IL 61702-1608IL1997-10$2,930,646
11Deerfield Montessori School3140 Riverwoods Rd, Riverwoods, IL 60015-1669IL1969-04$2,716,927
12Countryside Montessori Schools Inc1985 Pfingsten Rd, Northbrook, IL 60062-5853IL1972-02$2,351,635
13Parkview Montessori School Inc805 N Burning Bush Ln, Mt Prospect, IL 60056-1913IL1977-05$1,944,510
14Country Meadows Montessori School6151 Washington St, Gurnee, IL 60031-5307IL1983-07$1,545,012
15Crystal Lake Montessori School3013 S Country Club Rd, Woodstock, IL 60098-8017IL1985-03$1,356,110
16Childrens Learning World A Montessori School Inc8101 W Golf Rd, Niles, IL 60714-1110IL1971-06$1,354,098
17Buffalo Grove Montessori School Inc950 Ellen Dr, Buffalo Grove, IL 60089-3707IL1985-10$1,351,306
18Highland Park Community Nursery School And Day Care Center1850 Green Bay Rd, Highland Park, IL 60035-3136IL1952-04$1,070,692
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Number of organizations performing similar types of work
Alaska8
Alabama6
Arkansas8
Arizona13
California193
Colorado41
Connecticut35
District of Columbia5
Delaware4
Florida29
Georgia19
Hawaii10
Iowa12
Idaho3
Illinois59
Indiana18
Kansas5
Kentucky13
Louisiana9
Massachusetts92
Maryland41
Maine9
Michigan50
Minnesota20
Missouri17
Mississippi11
Montana4
North Carolina34
North Dakota4
Nebraska1
New Hampshire18
New Jersey55
New Mexico13
Nevada1
New York122
Ohio67
Oklahoma7
Oregon26
Pennsylvania47
Rhode Island5
South Carolina4
South Dakota1
Tennessee19
Texas42
Utah10
Virginia39
Vermont15
Washington43
Wisconsin36
West Virginia5
Wyoming5
International3
Total1,356

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