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
Transparency grade
A
To understand our transparency grade, click here.
Financial efficiency ratings
Sector: K-12 Schools/Academies
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 278 of 1077 | 20 of 48 |
| Fund acquisition rating | | 39 of 1078 | 14 of 48 |
| Resource allocation rating | | 921 of 1078 | 44 of 48 |
| Asset utilization rating | | 215 of 1077 | 9 of 48 |
Financial ratios
| Funding ratios | Sector median | 2020 | 2019 | 2018 | 2017 | 2016 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 12% | 13% | 8% | 13% | 13% | 2% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 3% | 8% | 6% | 7% | 7% | 2% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 15% | 60% | 70% | 58% | 55% | 68% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 3% | 7% | 7% | 7% | 7% | 1% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 85% | 40% | 30% | 42% | 45% | 32% |
| Operating ratios | Sector median | 2020 | 2019 | 2018 | 2017 | 2016 |
Program expense ratio Program expense ratio = Program services / Total expenses | 82% | 72% | 72% | 74% | 72% | 64% |
Spending ratio Spending ratio = Total expenses / Total revenue | 95% | 110% | 80% | 114% | 107% | 107% |
Program output ratio Program output ratio = Program services / Total revenue | 75% | 79% | 58% | 84% | 77% | 69% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 5% | -10% | 20% | -14% | -7% | -7% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 5% | -14% | 30% | -20% | -9% | -7% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 14% | 21% | 21% | 20% | 21% | 34% |
| Investing ratios | Sector median | 2020 | 2019 | 2018 | 2017 | 2016 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.44 | 1.20 | 1.15 | 1.45 | 1.35 | 0.96 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 3.21 | 1.30 | 1.33 | 1.81 | 1.70 | 2.42 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.64 | 1.55 | 1.54 | 2.62 | 2.31 | 2.31 |
| Liquidity ratios | Sector median | 2020 | 2019 | 2018 | 2017 | 2016 |
Current ratio Current ratio = Total current assets / Total current liabilities | 3.43 | 12.79 | 12.53 | 7.41 | 8.80 | 5.63 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.29 | 0.08 | 0.08 | 0.14 | 0.11 | 0.18 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 3.98 | 7.12 | 7.18 | 3.95 | 4.61 | 4.27 |
| Solvency ratios | Sector median | 2020 | 2019 | 2018 | 2017 | 2016 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 35% | 20% | 6% | 11% | 7% | 7% |
Debt ratio Debt ratio = Debt / Total assets | 16% | 0% | 0% | 3% | 0% | 0% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 136% | 67% | 82% | 61% | 69% | 97% |
Financials
| Balance sheet | |||||
| Assets | 2020 | 2019 | 2018 | 2017 | 2016 |
| Cash | $238,544 | $175,887 | $113,875 | $409,460 | $916,216 |
| Receivables, inventories, prepaids | $56,602 | $6,838 | $19,450 | $68,717 | $168,353 |
| Short-term investments | $1,948,285 | $2,030,228 | $1,064,548 | $959,918 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $2,243,431 | $2,212,953 | $1,197,873 | $1,438,095 | $1,084,569 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 |
| Fixed assets | $668,368 | $739,920 | $966,038 | $1,013,588 | $1,044,748 |
| Other long-term assets | $0 | $0 | $0 | $0 | $490,565 |
| Total long-term assets | $668,368 | $739,920 | $966,038 | $1,013,588 | $1,535,313 |
| Total assets | $2,911,799 | $2,952,873 | $2,163,911 | $2,451,683 | $2,619,882 |
| Liabilities | 2020 | 2019 | 2018 | 2017 | 2016 |
| Payables and accrued expenses | $175,435 | $176,625 | $161,761 | $163,328 | $190,573 |
| Other current liabilities | $0 | $0 | $0 | $0 | $2,224 |
| Total current liabilities | $175,435 | $176,625 | $161,761 | $163,328 | $192,797 |
| Debt | $0 | $0 | $75,000 | $0 | $0 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $393,100 | $0 | $0 | $0 | $0 |
| Total long-term liabilities | $393,100 | $0 | $75,000 | $0 | $0 |
| Total liabilities | $568,535 | $176,625 | $236,761 | $163,328 | $192,797 |
| Net assets | 2020 | 2019 | 2018 | 2017 | 2016 |
| Without donor restrictions | $1,172,695 | $1,730,168 | $1,786,815 | $2,185,691 | $96,055 |
| With donor restrictions | $1,170,569 | $1,046,080 | $140,335 | $102,664 | $2,331,030 |
| Net assets | $2,343,264 | $2,776,248 | $1,927,150 | $2,288,355 | $2,427,085 |
| Revenues and expenses | |||||
| Revenue | 2020 | 2019 | 2018 | 2017 | 2016 |
| Total contributions | $1,890,599 | $2,987,209 | $1,601,239 | $1,727,335 | $1,595,052 |
| Program service revenue | $1,182,010 | $1,179,423 | $1,093,963 | $1,337,759 | $721,701 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $63,699 | $53,523 | $46,291 | $46,359 | $22,604 |
| Other revenue | $25,651 | $18,536 | $18,950 | $5,141 | $5,098 |
| Total other revenue | $1,271,360 | $1,251,482 | $1,159,204 | $1,389,259 | $749,403 |
| Total revenue | $3,161,959 | $4,238,691 | $2,760,443 | $3,116,594 | $2,344,455 |
| Expenses | 2020 | 2019 | 2018 | 2017 | 2016 |
| Program services | $2,500,162 | $2,464,767 | $2,318,876 | $2,388,115 | $1,609,025 |
| Management and general | $743,526 | $705,978 | $620,102 | $712,690 | $858,351 |
| Fundraising | $243,761 | $233,368 | $204,825 | $218,757 | $37,325 |
| Total expenses | $3,487,449 | $3,404,113 | $3,143,803 | $3,319,562 | $2,504,701 |
| Change in net assets | 2020 | 2019 | 2018 | 2017 | 2016 |
| Surplus (deficit) | ($325,490) | $834,578 | ($383,360) | ($202,968) | ($160,246) |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | ($325,490) | $834,578 | ($383,360) | ($202,968) | ($160,246) |
Compensation
| Name | Title | Compensation |
| Richard R Ollinger | President/CEO | $89,280 |
| Stacy Niemkiewicz | Finance Director/Treasurer | $71,715 |
| Deborah Lee | Principal | $67,650 |
Compensation data as of: 6/30/2019
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