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

Donor confidence score

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Transparency grade

A

To understand our transparency grade, click here.


Financial efficiency ratings

Sector: K-12 Schools/Academies

CategoryRatingOverall rankSector rank
Overall efficiency rating36 of 11102 of 49
Fund acquisition rating29 of 111112 of 49
Resource allocation rating321 of 111110 of 49
Asset utilization rating37 of 11101 of 49

Financial ratios

Funding ratiosSector median20232022202120202019
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
11%10%11%10%12%14%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
3%5%5%5%5%7%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
16%48%47%47%37%45%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
3%5%5%5%4%6%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
84%52%53%53%63%55%
 
Operating ratiosSector median20232022202120202019
Program expense ratio Program expense ratio =
Program services /
Total expenses
83%86%85%86%87%86%
Spending ratio Spending ratio =
Total expenses /
Total revenue
94%108%99%102%105%101%
Program output ratio Program output ratio =
Program services /
Total revenue
77%94%84%88%92%87%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
6%-8%1%-2%-5%-1%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
4%-66%4%-9%-18%-3%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
14%9%10%9%9%8%
 
Investing ratiosSector median20232022202120202019
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.491.233.313.482.202.39
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
3.158.901.761.941.311.22
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.5910.995.846.742.892.91
 
Liquidity ratiosSector median20232022202120202019
Current ratio Current ratio =
Total current assets /
Total current liabilities
2.791.192.862.708.156.43
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.360.840.350.370.120.16
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
3.540.171.341.123.653.48
 
Solvency ratiosSector median20232022202120202019
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
32%86%20%19%38%13%
Debt ratio Debt ratio =
Debt /
Total assets
9%2%0%0%28%0%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
147%12%24%23%28%36%

Financials

Balance sheet
 
Assets20232022202120202019
Cash$261,865$457,084$359,577$736,216$701,669
Receivables, inventories, prepaids$44,645$2,095$38,321$99,026$59,938
Short-term investments$0$0$0$0$0
Other current assets$0$0$0$0$0
Total current assets$306,510$459,179$397,898$835,242$761,607
Long-term investments$9,900$9,900$9,900$9,900$9,900
Fixed assets$336,530$261,565$285,596$173,627$76,712
Other long-term assets$2,076,201$78,400$78,400$78,400$78,400
Total long-term assets$2,422,631$349,865$373,896$261,927$165,012
Total assets$2,729,141$809,044$771,794$1,097,169$926,619
 
Liabilities20232022202120202019
Payables and accrued expenses$257,636$160,606$147,190$102,475$118,494
Other current liabilities$0$0$0$0$0
Total current liabilities$257,636$160,606$147,190$102,475$118,494
Debt$64,966$0$0$311,385$0
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$2,016,324$0$0$0$0
Total long-term liabilities$2,081,290$0$0$311,385$0
Total liabilities$2,338,926$160,606$147,190$413,860$118,494
 
Net assets20232022202120202019
Without donor restrictions$270,270$514,941$568,607$633,809$769,706
With donor restrictions$119,945$133,497$55,997$49,500$38,419
Net assets$390,215$648,438$624,604$683,309$808,125
 
Revenues and expenses
 
Revenue20232022202120202019
Total contributions$1,499,781$1,264,393$1,232,523$853,711$993,246
Program service revenue$1,610,520$1,437,184$1,390,672$1,426,385$1,200,361
Membership dues$0$0$0$0$0
Investment income($289)$2,246$1,001$5,761$2,393
Other revenue$1,199$0$0$0$0
Total other revenue$1,611,430$1,439,430$1,391,673$1,432,146$1,202,754
Total revenue$3,111,211$2,703,823$2,624,196$2,285,857$2,196,000
 
Expenses20232022202120202019
Program services$2,911,513$2,277,667$2,313,271$2,095,245$1,900,814
Management and general$304,689$268,414$246,680$212,207$174,628
Fundraising$153,232$133,908$122,950$103,221$143,340
Total expenses$3,369,434$2,679,989$2,682,901$2,410,673$2,218,782
 
Change in net assets20232022202120202019
Surplus (deficit)($258,223)$23,834($58,705)($124,816)($22,782)
Other changes in net assets$0$0$0$0$0
Total change in net assets($258,223)$23,834($58,705)($124,816)($22,782)

Compensation

NameTitleCompensation
Dean LuckenbaughExecutive Director$190,296

Compensation data as of: 6/30/2023


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


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