Cornerstone Academy

Nonprofit profile at a glance

EIN
208135048
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Arlington, TX, USA
Phone
8173752235
Rating
41
Verdict
MIXED
Rating confidence
Moderate
Sector
Kindergarten, Preschool, Nursery School, Early Admissions
Affiliation
Christianity

Official website

Reported finances

Revenue
$994,005
Expenses
$557,911
Assets
$115,212
Liabilities
$14,704

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • ED HEATHLEY (PRESIDENT)

Highest reported compensation

  • CARLA SMITH (ACADEMY DIRECTOR): $102,500 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Providing nbsp; education nbsp; and nbsp; training nbsp; that nbsp; will nbsp; be nbsp; life nbsp; transforming nbsp; and nbsp; preparing nbsp; students nbsp; for nbsp; lifes nbsp; next nbsp; level

What it reported doing in 2024

Program services accomplishment were increase of staff wages, building renovation, signage for marketing, purchase of new playground equipment, and providing financial assistance to parents for tuition.

Operating model

Revenue model
Earned-program. 77% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

MIXED - Most voting board members are independent and revenue has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 59
  • Accountability: 90
  • Sustainability: 52
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0.4%; rating input score 0
  • Program expense ratio: 0.8%; rating input score 1
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 88.9%; rating input score 89; 4th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 43.9%; rating input score 90; 90th percentile among comparable filings
  • Total-asset coverage ratio: 0.21; rating input score 10; 10th percentile among comparable filings
  • Liabilities to assets ratio: 0.13; rating input score 39; 39th percentile among comparable filings
  • Officer compensation ratio: 18.4%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: -21.8% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: 4.8% per year; rating input score 100; 42nd percentile among comparable filings
  • Asset growth: 20.3% per year; rating input score 100; 82nd percentile among comparable filings

Details

  • Where the money goes: 0.4% of revenue deployed · 0.8% of spending went to programs
  • Governance: 6 of 6 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $3K in reported program spending
  • Leadership: top reported pay $102K · 7 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 18 of 20 current checks pass · 2 findings to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 11 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 1/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 10/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Fund balance restriction sum did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 17/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 39/100.