Cornerstone Classical Academy Inc

Nonprofit profile at a glance

EIN
832643245
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-N 2018
Location
Jacksonville, FL, USA
Phone
9044818163
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Charter Schools

Official website

Reported finances

Revenue
$14,182,488
Expenses
$11,100,348
Assets
$48,614,350
Liabilities
$42,984,027

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

Leadership & pay

6 people listed

Executive titles in this filing

  • EDI WOHLGEMUTH (EXECUTIVE DIRECTOR)

Highest reported compensation

  • EDI WOHLGEMUTH (EXECUTIVE DIRECTOR): $105,000 total reported compensation

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

Overview

Mission

To operate a public charter school in duval county, Florida.

Operating model

Revenue model
Earned-program. 73% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 92
  • Accountability: 90
  • Sustainability: 75
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.7%; rating input score 78
  • Program expense ratio: 99.3%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 21.7%; rating input score 83; 83rd percentile among comparable filings
  • Total-asset coverage ratio: 4.38; rating input score 83; 83rd percentile among comparable filings
  • Liabilities to assets ratio: 0.88; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 0.9%; rating input score 86; 86th percentile among comparable filings

Growth

  • Program expense growth: 30% per year; rating input score 100; 95th percentile among comparable filings
  • Revenue growth: 35.7% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: 26.5% per year; rating input score 100; 94th percentile among comparable filings

Details

  • Where the money goes: 77.7% of revenue deployed · 99.3% of spending went to programs
  • Governance: 4 of 4 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $11M in reported program spending
  • Leadership: top reported pay $105K · 6 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 7 filed schedules · includes major donors
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.