Cornerstone College & Seminary (EIN 237044656) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1969

Legal Domicile

Principal Officer

Julie M Wallace

Phone

5408985077

Tax Period

2023-07-01 to 2024-06-30

Cornerstone College of Virginia, founded in 1967, is a small nonprofit in the Education sector that reported $358K in total revenue in fiscal year 2020. Revenue fell 38% from the prior year — a significant decline worth monitoring. Expenses of $520K exceeded revenue, resulting in a 45% operating deficit.

Mission

Teaching Bible Students

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $108,132

Program Service Revenue $83,126

Investment Income $1,900,606

Other Revenue $6,311

TOTAL REVENUE $2,098,175

Expense Breakdown

Grants Paid $0

Salaries & Benefits $264,835

Fundraising Expenses $0

Program Expenses $494,316

Other Expenses $240,437

TOTAL EXPENSES $505,272

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,098,175	$141,620	+13.8%
Expenses	$505,272	$489,928	+0.0%
Net Income	$1,592,903	$-348,308	-5.6%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$99,180

Total Directors

$22,980

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Dr Richard Barnett	Chair	2.00	Officer Director	$0	$0	$0
Dr Joseph Holmes	Board Member	2.00	Director	$0	$0	$0
Dr Chris VanBuskirk	Treasurer	10.00	Officer Director	$22,980	$0	$22,980
Julie Wallace	President	40.00	Officer	$76,200	$0	$76,200
Christopher Voeglin	Board Member	2.00	Director	$0	$0	$0
Glenn Prescott	Board Member	2.00	Director	$0	$0	$0
Marlin Chang	Board Member	2.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$2,098,175	$505,272	$1,541,107	$1,592,903
2023	$141,620	$489,928	$420,126	$-348,308
2022	$377,765	$566,289	$442,779	$-188,524
2021	$358,367	$520,113	$682,473	$-161,746

Cornerstone College & Seminary