Cornerstone Schools of Washington, DC 
The information on this page was last updated 4/11/2023. If you see errors or omissions, please email: [email protected]
Summary
Hope and Academic Excellence in the Nation's Capital.
Contact information
Mailing address:
Cornerstone Schools of Washington, DC
3742 Ely Place, SE
Washington, DC 20019
Website: cornerstone-schools.org
Phone: (202) 575-0027
Email: [email protected]
Organization details
EIN: 522084049
CEO/President: Dean Luckenbaugh
Chairman: Jeff Wood
Board size: 12
Founder:
Ruling year: 1998
Tax deductible: Yes
Fiscal year end: 07/31
Member of ECFA: Yes
Member of ECFA since: 2004
Purpose
Through implementing our mission, our graduates and students at Cornerstone will show growth in our Lions values.
Love: Grow in knowledge, understanding, and love for Christ and the Scriptures, consistently applying a Biblical framework to issues in their own lives and the world by seeing God's image reflected in people and His creation and practicing the fruit of the Spirit in life and community, loving their neighbors as themselves.
Integrity: Possess the social skills to live with integrity, taking personal responsibility, being a peacemaker, and capably resolving conflict. Exhibit a curious mind, pursuit of excellence, love for learning and consistent habits of scholarship.
Opportunity: Capably engage many different subject areas including literature, science, and the arts. Pursue and establish personal vision and post-graduate plan with a sense of God's calling and engaging in activities that develop their unique talents. Develop practical life skills to navigate life, including personal finance and employment practices.
Nobility: Master foundational skills in reading, math, writing and speaking, practice a diligent work ethic and a growth mindset, and engage peers and adults for support and conversation. Exhibit service-oriented leadership skills within the school and in the community
Strength: Possess the tools of learning to engage any work with confidence, capability and creativity. Meet life's challenges, and resiliently and joyfully excel, flourishing in a world that can be opposed to them due to their faith, race, or background.
Mission statement
Through a partnership of family, school, and community, Cornerstone provides a Christ-centered, nurturing, and academically robust education forming the children of Washington, D.C. in the habits of faith, love, and learning essential to becoming wise, compassionate, and virtuous leaders who serve others in light of Christ and His Truth.
Statement of faith
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 | | 27 of 1077 | 3 of 48 |
| Fund acquisition rating | | 113 of 1078 | 17 of 48 |
| Resource allocation rating | | 128 of 1078 | 5 of 48 |
| Asset utilization rating | | 85 of 1077 | 3 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% | 12% | 14% | 11% | 7% | 5% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 3% | 5% | 7% | 5% | 3% | 3% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 15% | 37% | 45% | 47% | 46% | 52% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 3% | 4% | 6% | 7% | 4% | 3% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 85% | 63% | 55% | 53% | 54% | 48% |
| Operating ratios | Sector median | 2020 | 2019 | 2018 | 2017 | 2016 |
Program expense ratio Program expense ratio = Program services / Total expenses | 82% | 87% | 86% | 85% | 88% | 89% |
Spending ratio Spending ratio = Total expenses / Total revenue | 95% | 105% | 101% | 77% | 95% | 88% |
Program output ratio Program output ratio = Program services / Total revenue | 75% | 92% | 87% | 66% | 83% | 78% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 5% | -5% | -1% | 23% | 5% | 12% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 5% | -18% | -3% | 70% | 37% | 131% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 14% | 9% | 8% | 8% | 8% | 8% |
| Investing ratios | Sector median | 2020 | 2019 | 2018 | 2017 | 2016 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.44 | 2.20 | 2.39 | 2.08 | 4.03 | 3.84 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 3.21 | 1.31 | 1.22 | 1.13 | 1.27 | 1.29 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.64 | 2.89 | 2.91 | 2.36 | 5.12 | 4.97 |
| Liquidity ratios | Sector median | 2020 | 2019 | 2018 | 2017 | 2016 |
Current ratio Current ratio = Total current assets / Total current liabilities | 3.43 | 8.15 | 6.43 | 9.05 | 1.94 | 1.29 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.29 | 0.12 | 0.16 | 0.11 | 0.51 | 0.78 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 3.98 | 3.65 | 3.48 | 4.53 | 1.14 | 0.54 |
| Solvency ratios | Sector median | 2020 | 2019 | 2018 | 2017 | 2016 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 35% | 38% | 13% | 10% | 41% | 60% |
Debt ratio Debt ratio = Debt / Total assets | 16% | 28% | 0% | 0% | 0% | 0% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 136% | 28% | 36% | 43% | 15% | 10% |
Financials
| Balance sheet | |||||
| Assets | 2020 | 2019 | 2018 | 2017 | 2016 |
| Cash | $736,216 | $701,669 | $802,804 | $300,819 | $294,845 |
| Receivables, inventories, prepaids | $99,026 | $59,938 | $8,962 | $27,584 | $6,340 |
| Short-term investments | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $835,242 | $761,607 | $811,766 | $328,403 | $301,185 |
| Long-term investments | $9,900 | $9,900 | $9,900 | $9,900 | $9,900 |
| Fixed assets | $173,627 | $76,712 | $20,549 | $0 | $0 |
| Other long-term assets | $78,400 | $78,400 | $78,400 | $78,400 | $78,400 |
| Total long-term assets | $261,927 | $165,012 | $108,849 | $88,300 | $88,300 |
| Total assets | $1,097,169 | $926,619 | $920,615 | $416,703 | $389,485 |
| Liabilities | 2020 | 2019 | 2018 | 2017 | 2016 |
| Payables and accrued expenses | $102,475 | $118,494 | $89,708 | $169,089 | $234,290 |
| Other current liabilities | $0 | $0 | $0 | $0 | $0 |
| Total current liabilities | $102,475 | $118,494 | $89,708 | $169,089 | $234,290 |
| Debt | $311,385 | $0 | $0 | $0 | $0 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $0 | $0 | $0 | $0 | $0 |
| Total long-term liabilities | $311,385 | $0 | $0 | $0 | $0 |
| Total liabilities | $413,860 | $118,494 | $89,708 | $169,089 | $234,290 |
| Net assets | 2020 | 2019 | 2018 | 2017 | 2016 |
| Without donor restrictions | $633,809 | $769,706 | $830,907 | $247,614 | $155,195 |
| With donor restrictions | $49,500 | $38,419 | $0 | $0 | $0 |
| Net assets | $683,309 | $808,125 | $830,907 | $247,614 | $155,195 |
| Revenues and expenses | |||||
| Revenue | 2020 | 2019 | 2018 | 2017 | 2016 |
| Total contributions | $853,711 | $993,246 | $1,185,603 | $815,574 | $886,889 |
| Program service revenue | $1,426,385 | $1,200,361 | $1,248,909 | $844,293 | $702,098 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $5,761 | $2,393 | ($3,389) | $104 | $0 |
| Other revenue | $0 | $0 | $66,318 | $113,067 | $111,384 |
| Total other revenue | $1,432,146 | $1,202,754 | $1,311,838 | $957,464 | $813,482 |
| Total revenue | $2,285,857 | $2,196,000 | $2,497,441 | $1,773,038 | $1,700,371 |
| Expenses | 2020 | 2019 | 2018 | 2017 | 2016 |
| Program services | $2,095,245 | $1,900,814 | $1,636,584 | $1,479,802 | $1,325,887 |
| Management and general | $212,207 | $174,628 | $152,966 | $141,117 | $124,688 |
| Fundraising | $103,221 | $143,340 | $124,598 | $59,700 | $46,666 |
| Total expenses | $2,410,673 | $2,218,782 | $1,914,148 | $1,680,619 | $1,497,241 |
| Change in net assets | 2020 | 2019 | 2018 | 2017 | 2016 |
| Surplus (deficit) | ($124,816) | ($22,782) | $583,293 | $92,419 | $203,130 |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | ($124,816) | ($22,782) | $583,293 | $92,419 | $203,130 |
Compensation
| Name | Title | Compensation |
| Derrick Max | Executive Director | $131,720 |
Compensation data as of: 7/31/2019
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 4/11/2023. To update the information below, please email: [email protected]
History
For a timeline, visit: https://www.cornerstone-schools.org/history
Program accomplishments
We are proud to have established a solid record of academic development and success. Cornerstone provides a college scholarship of up to $22,000 over four years for graduates who have a 3.5 GPA in High School and maintain a 3.0 GPA in college.
Over 90% of our graduates have gone on to pursue higher education, attending the following colleges and universities and being accepted by many more:
University of Maryland
Marymount University
Morgan State University
North Carolina Central
Radford University
St. John's University
Trinity Washington University
Wilmington University
West Virginia University
Xavier University of Louisiana
Art Institute, Washington, DC
Bowie State
Carver College
Coppin State University
University of Dayton
University of Delaware
University of the District of Columbia
George Mason University
George Washington University
Indiana Tech
Liberty University