CORNERSTONE SCHOOL OF SUMMIT INC

EIN: 264382610 501(c)(3) Education

SUMMIT, NJ

Total Revenue
$1,245,931
Total Expenses
$1,115,240
Total Assets
$799,952
Net Assets
$463,037
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2008
Legal Domicile
NJ
Principal Officer
ROBIN FRENCH
Phone
9082774400
Tax Period
2024-09-01 to 2025-08-31

CORNERSTONE SCHOOL OF SUMMIT INC, founded in 2008, is a community nonprofit in the Education sector that reported $1.2M in total revenue in fiscal year 2024. Revenue surged 34% from the prior year, signaling strong growth momentum. Expenses of $1.1M left a modest 10% surplus.

Mission

CORNERSTONE SCHOOL PROMOTES THE DEVELOPMENT OF THE WHOLE CHILD THROUGH A PLAY-BASED CURRICULUM THAT IGNITES CURIOSITY, INSPIRES CREATIVITY, AND PROMOTES CHARACTER. WE ARE COMMITTED TO STRENGTHENING FAMILIES BY OFFERING OPPORTUNITIES FOR DISCUSSIONS, PARENTING AND CHILD DEVELOPMENT WORKSHOPS, AND SOCIAL EVENTS WHERE PARENTS AND CHILDREN CAN CONNECT WITH OTHER MEMBERS OF THE COMMUNITY. CORNERSTONE SCHOOL PROMOTES UNDERSTANDING AND DIVERSITY IN A COMMUNITY THAT IS ENERGIZED BY A VARIETY OF FAITH TRADITIONS AND CULTURES.

Program Service Accomplishments

Program 1
Expenses: $1,092,225 Revenue: $1,057,502

EDUCATIONAL PROGRAMS BASED UPON GUIDING PRINCIPLES:CHILDHOOD IS VALUED AS AN EXCITING TIME FOR EXPLORATION AND GROWTH. CHILDREN ARE EMPOWERED TO TAKE RISKS AND ASK QUESTIONS AS THEY EXPERIMENT WITH...

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EDUCATIONAL PROGRAMS BASED UPON GUIDING PRINCIPLES:CHILDHOOD IS VALUED AS AN EXCITING TIME FOR EXPLORATION AND GROWTH. CHILDREN ARE EMPOWERED TO TAKE RISKS AND ASK QUESTIONS AS THEY EXPERIMENT WITH AN ARRAY OF DEVELOPMENTALLY APPROPRIATE MATERIALS AND ACTIVITIES.CHILDREN ARE INSPIRED TO BECOME LIFELONG LEARNERS AS THEIR NATURAL CURIOSITY LEADS THEM TO SEEK ANSWERS TO THEIR QUESTIONS.CHILDREN EXPERIENCE ENCOURAGEMENT AND ACCEPTANCE AS THEY GROW INTO A DEEPENING UNDERSTANDING OF THEMSELVES AND THE WORLD AROUND THEM.CHILDREN CELEBRATE THE DIVERSITY OF OUR COMMUNITY BY SHARING SONGS, STORIES, AND COOPERATIVE GAMES THAT FOSTER UNDERSTANDING AND ACCEPTANCE.CHILDREN ARE ACTIVE MEMBERS OF THE CLASSROOM COMMUNITY, DEVELOPING PRO-SOCIAL SKILLS AND FORMING POSITIVE RELATIONSHIPS WITH PEERS AND ADULTS.CHILDREN FLOURISH IN AN ENVIRONMENT THAT NURTURES THEIR DEVELOPMENT IN ALL FACETS OF LIFE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $170,717
Program Service Revenue $1,057,502
Investment Income $17,712
Other Revenue $0
TOTAL REVENUE $1,245,931

Expense Breakdown

Grants Paid $20,515
Salaries & Benefits $783,354
Fundraising Expenses $0
Program Expenses $1,092,225
Other Expenses $311,371
TOTAL EXPENSES $1,115,240

Year-over-Year Comparison

2024 2023 Change
Revenue $1,245,931 $930,358 +0.3%
Expenses $1,115,240 $1,054,515 +0.1%
Net Income $130,691 $-124,157 -2.1%
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

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Liquidity & Cash Position

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Governance

Voting Members
8
Independent Members
8
Employees
21
Volunteers
18

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
3
$0
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOANNA CHAN CHAIR 5.00
Officer Director
$0 $0 $0
BOB WHITE TREASURER 5.00
Officer Director
$0 $0 $0
MAY LAU SECRETARY 5.00
Officer Director
$0 $0 $0
JAMIE NANFARA TRUSTEE 2.00
Director
$0 $0 $0
SANG CHOI TRUSTEE 2.00
Director
$0 $0 $0
JENNIFER EPPERLIEN TRUSTEE 2.00
Director
$0 $0 $0
LAUREN RANDALL TRUSTEE 2.00
Director
$0 $0 $0
ELLEN LAZOVICK TRUSTEE 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 $1,245,931 $1,115,240 $799,952 $130,691
2024 $930,358 $1,054,515 $641,660 $-124,157
2023 $1,063,559 $1,007,613 $663,007 $55,946
2022 $1,020,711 $941,369 $647,547 $79,342
2021 $1,004,041 $818,171 $556,060 $185,870
2020 $776,414 $818,766 $396,353 $-42,352
2019 $952,597 $940,871 $502,992 $11,726
2018 $897,944 $823,142 $522,665 $74,802
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