Overview
What is Cornerstone Christian Academy?
Cornerstone Christian Academy is a nonprofit organization situated in Philadelphia, Pennsylvania. Its primary mission is to provide a conducive learning environment for children, particularly those residing in disadvantaged areas. The academy aspires to maintain the highest academic standards and foster spiritual growth. In the school year 2021/22, they offered financial aid to the tune of $1,159,000 to aid the educational needs of low-income inner-city children, enrolling 163 students. The organization currently employs 46 individuals.
Official website here: www.cornerstonephiladelhia.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 95% - Four-Star out of Four Star Rating
Cornerstone Christian Academy has earned a commendable Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance, with a score of 95%. The organization demonstrates high standards in governance, evidenced by an independent board consisting entirely of 20 members, and effective oversight through its audit and oversight committee. Most metrics around financial practices, such as the lack of asset diversion and the establishment of necessary policies, are rated highly, indicating a solid operational foundation.
The charity effectively allocates a significant portion of its budget towards programs, achieving a program expense ratio of over 70%, which speaks to its commitment to mission-driven activities. The organization also maintains an impressive working capital ratio, allowing for stable financial health, which is essential for long-term sustainability. However, it should be noted that the nonprofit has not made its tax form available on its website, which could limit transparency for potential donors and stakeholders.
User reviews from GreatNonprofits could not be fetched, so there is no additional public feedback available at this time. Overall, Cornerstone Christian Academy stands out for its financial integrity and governance, although enhancing transparency could further bolster its community trust.
This AI summary has been generated from information found on Charity Navigator.
Is Cornerstone Christian Academy legitimate?
Cornerstone Christian Academy is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cornerstone Christian Academy submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $186,309
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,403,424
For more financial information, click here
Official website here: www.cornerstonephiladelhia.com
What is the mission statement of Cornerstone Christian Academy?
Cornerstone Christian Academy's mission is centered around educating children, particularly those from disadvantaged backgrounds. It strives to provide an educational environment that upholds the highest standards for academic achievement and spiritual development. The academy is committed to offering financial aid to inner-city children from low-income families, as demonstrated by providing over $1,159,000 in financial aid at the beginning of the 2021/22 school year. As of the same school year, 163 students have been enrolled in the academy.
Official website here: www.cornerstonephiladelhia.com
Who is the CEO of Cornerstone Christian Academy?
Richard Ollinger is the Chairman of Cornerstone Christian Academy. The CEO's salary of Cornerstone Christian Academy is $0 and their total compensation is $0.
Official website here: www.cornerstonephiladelhia.com
What is the revenue of Cornerstone Christian Academy?
Cornerstone Christian Academy's revenue in 2022 was $8,243,681.
Official website here: www.cornerstonephiladelhia.com
Who are the executives of Cornerstone Christian Academy and what are their salaries?
The average compensation at Cornerstone Christian Academy during 2022 was $34,559. There are 46 employees and 150 volunteers at Cornerstone Christian Academy.
Here are 23 key members and their salaries (Cornerstone Christian Academy's CEO's salary is $0 and their total compensation is $0):
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- Compensation: $80,983
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- Compensation: $78,852
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Official website here: www.cornerstonephiladelhia.com
Where can I find the form 990 for Cornerstone Christian Academy?
Cornerstone Christian Academy's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.cornerstonephiladelhia.com
Learn more at the official website: www.cornerstonephiladelhia.com
Mission Statement of Cornerstone Christian Academy
Cornerstone Christian Academy, a nonprofit organization, is committed to educating children, particularly those residing in at-risk neighborhoods. It strives to create an educational environment that upholds the highest standards for academic achievement and spiritual development. The academy provides financial aid to the educational needs of inner-city children from low-income families, as demonstrated by the over $1,159,000 in aid offered at the beginning of the 2021/22 school year. With 163 students enrolled, Cornerstone Christian Academy is dedicated to nurturing the intellectual and spiritual growth of its pupils.
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Impact
October, 2024
Cornerstone Christian Academy plays a vital role in transforming the lives of children, particularly those from at-risk neighborhoods in Philadelphia. By prioritizing educational excellence and spiritual growth, the academy creates an enriching environment for its students.
In the 2021/22 school year, Cornerstone provided over $1,159,000 in financial aid, ensuring that children from low-income families have access to quality education. With an enrollment of 163 students, the academy not only emphasizes academic achievement but also instills strong moral values, empowering the next generation to overcome challenges and thrive. The impactful work of Cornerstone Christian Academy fosters not just educational advancement, but holistic development for children in the community.
This information is meant to be a general summary of Cornerstone Christian Academy. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $167,644
- Program Service Revenue: $1,588,300
- Gross Receipts: $9,593,828
Assets and Liabilities:
- Total Assets: $7,378,915
- Total Liabilities: $216,221
- Net Assets: $7,162,694
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TUITION & FEES
Revenue
$1,560,389
STUDENT TRIPS AND CAMP
Revenue
$27,911
Organization Details
Founding Year
1987
Phone
(610) 539-4136Principal Officer
Richard Ollinger
Main Address
1939 S 58TH STREET, PHILADELPHIA, PA, 19143
NTEE Category
Code: B20Z - Education
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