Cornerstone College & Seminary

Nonprofit profile at a glance

EIN
237044656
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Spotsylvania Courthous, VA, USA
Phone
5408985077
Rating
82
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$159,623
Expenses
$440,210
Assets
$1,322,948
Liabilities
$7,105

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

Leadership & pay

8 people listed

Executive titles in this filing

  • Julie Wallace (President)

Highest reported compensation

  • Julie Wallace (President): $76,456 total reported compensation
  • Dr Chris VanBuskirk (Treasurer): $34,846 total reported compensation
  • Jay Flickinger (Board Member): $1,317 total reported compensation

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

Overview

Mission

Teaching Bible Students

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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. Expenses are high relative to revenue and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 90
  • Accountability: 78
  • Sustainability: 28
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 95.7%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 71.4%; rating input score 71; 19th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -175.8%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 3.01; rating input score 69; 69th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 49; 49th percentile among comparable filings
  • Officer compensation ratio: 25.6%; rating input score 14; 14th percentile among comparable filings

Growth

  • Program expense growth: -3.7% per year; rating input score 0; 19th percentile among comparable filings
  • Revenue growth: 16.8% per year; rating input score 100; 84th percentile among comparable filings
  • Asset growth: 21.1% per year; rating input score 100; 86th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 95.7% of spending went to programs
  • Governance: 5 of 7 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $421K in reported program spending
  • Leadership: top reported pay $76K · 8 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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 — Sustainability: Operating margin scored 1/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Officer compensation ratio scored 14/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 49/100.