Cornerstone Christian Academy

The information on this page was last updated 3/21/2023. If you see errors or omissions, please email: [email protected]


Summary

Inspiring hope since 1988 for children in Kindergarten through 8th grade.


Contact information

Mailing address:
Cornerstone Christian Academy
1939 S. 58th St.
Philadelphia, PA 19143

Website: wearecornerstone.com

Phone: 215-724-6858

Email: [email protected]


Organization details

EIN: 232499985

CEO/President: Dick Ollinger

Chairman: Kenneth Frazier, Esq

Board size: 17

Founder:

Ruling year: 1988

Tax deductible: Yes

Fiscal year end: 06/30

Member of ECFA: Yes

Member of ECFA since: 2004


Purpose

Our education program is focused on the WHOLE CHILD - mind, body, and spirit. Social emotional learning is integrated into the academic program.


Mission statement

The mission of Conerstone Christian Academy is to educate children, including those from underserved families in an environment that provides the highest standards for the academic achievement and spiritual development. It is our vision to be a model urban Christian school where students are grounded in faith, shaped with Christ-like character, and equipped with knowledge and skills to excel in high school, college, and throughout life.


Statement of faith

We believe that the Bible, comprised of the Old and New Testaments, is inspired by God and is the supreme and final authority in faith and life. We believe in one God existing in three persons: Father, Son and Holy Spirit. We believe in the vicarious death of the Lord Jesus Christ for our sins, the resurrection of His Body, His ascension into Heaven, and his future return to the earth. We believe salvation is available through one's acceptance of Jesus Christ as Lord and Savior. We believe that a New Testament Church is a body of baptized believers associated for worship, learning, service and the spread of the gospel for the establishment of the Kingdom of God and earth.

Donor confidence score

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Transparency grade

A

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Financial efficiency ratings

Sector: K-12 Schools/Academies

CategoryRatingOverall rankSector rank
Overall efficiency rating350 of 111320 of 49
Fund acquisition rating3 of 11142 of 49
Resource allocation rating887 of 111443 of 49
Asset utilization rating445 of 111322 of 49

Financial ratios

Funding ratiosSector median20222021202020192018
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
11%5%9%13%8%13%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
3%4%6%8%6%7%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
16%78%67%60%70%58%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
3%8%8%7%7%7%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
84%22%33%40%30%42%
 
Operating ratiosSector median20222021202020192018
Program expense ratio Program expense ratio =
Program services /
Total expenses
83%71%70%72%72%74%
Spending ratio Spending ratio =
Total expenses /
Total revenue
94%49%79%110%80%114%
Program output ratio Program output ratio =
Program services /
Total revenue
77%35%55%79%58%84%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
6%51%21%-10%20%-14%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
4%59%27%-14%30%-20%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
14%21%22%21%21%20%
 
Investing ratiosSector median20222021202020192018
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.490.550.901.201.151.45
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
3.151.081.171.301.331.81
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.590.591.051.551.542.62
 
Liquidity ratiosSector median20222021202020192018
Current ratio Current ratio =
Total current assets /
Total current liabilities
2.7931.496.8012.7912.537.41
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.360.030.150.080.080.14
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
3.5419.539.787.127.183.95
 
Solvency ratiosSector median20222021202020192018
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
32%3%13%20%6%11%
Debt ratio Debt ratio =
Debt /
Total assets
9%0%0%0%0%3%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
147%177%98%67%82%61%

Financials

Balance sheet
 
Assets20222021202020192018
Cash$530,947$401,344$238,544$175,887$113,875
Receivables, inventories, prepaids$3,044,203$24,725$56,602$6,838$19,450
Short-term investments$3,234,135$3,235,507$1,948,285$2,030,228$1,064,548
Other current assets$0$0$0$0$0
Total current assets$6,809,285$3,661,576$2,243,431$2,212,953$1,197,873
Long-term investments$0$0$0$0$0
Fixed assets$569,630$614,615$668,368$739,920$966,038
Other long-term assets$0$0$0$0$0
Total long-term assets$569,630$614,615$668,368$739,920$966,038
Total assets$7,378,915$4,276,191$2,911,799$2,952,873$2,163,911
 
Liabilities20222021202020192018
Payables and accrued expenses$216,221$170,260$175,435$176,625$161,761
Other current liabilities$0$368,370$0$0$0
Total current liabilities$216,221$538,630$175,435$176,625$161,761
Debt$0$0$0$0$75,000
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$0$0$393,100$0$0
Total long-term liabilities$0$0$393,100$0$75,000
Total liabilities$216,221$538,630$568,535$176,625$236,761
 
Net assets20222021202020192018
Without donor restrictions$2,132,130$2,008,800$1,172,695$1,730,168$1,786,815
With donor restrictions$5,030,564$1,728,761$1,170,569$1,046,080$140,335
Net assets$7,162,694$3,737,561$2,343,264$2,776,248$1,927,150
 
Revenues and expenses
 
Revenue20222021202020192018
Total contributions$6,456,910$3,241,139$1,890,599$2,987,209$1,601,239
Program service revenue$1,588,300$1,398,854$1,182,010$1,179,423$1,093,963
Membership dues$0$0$0$0$0
Investment income$167,644$176,229$63,699$53,523$46,291
Other revenue$30,827$7,871$25,651$18,536$18,950
Total other revenue$1,786,771$1,582,954$1,271,360$1,251,482$1,159,204
Total revenue$8,243,681$4,824,093$3,161,959$4,238,691$2,760,443
 
Expenses20222021202020192018
Program services$2,871,101$2,672,345$2,500,162$2,464,767$2,318,876
Management and general$840,678$858,182$743,526$705,978$620,102
Fundraising$338,345$300,781$243,761$233,368$204,825
Total expenses$4,050,124$3,831,308$3,487,449$3,404,113$3,143,803
 
Change in net assets20222021202020192018
Surplus (deficit)$4,193,557$992,785($325,490)$834,578($383,360)
Other changes in net assets$0$0$0$0$0
Total change in net assets$4,193,557$992,785($325,490)$834,578($383,360)

Compensation

NameTitleCompensation
Richell ManigaultPrincipal$87,819
Stacy NiemkiewiczFinance Director/Treasurer$85,688

Compensation data as of: 6/30/2022


Response from ministry

No response has been provided by this ministry.


The information below was provided to MinistryWatch by the ministry itself. It was last updated 3/21/2023. To update the information below, please email: [email protected]


History


Program accomplishments

170 Students enrolled

18:1 Student/Teacher ratio

98% Of 8th grade graduates earn a high school diploma within four years

75% Of graduates attend college

$1M In student financial aid per year

500+ Donors and volunteers support CCA annually


Needs