CORNERSTONE SCHOOLS ASSOCIATION

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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

1991

Legal Domicile

Principal Officer

MIKE CARR

Phone

3138921860

Tax Period

2024-08-01 to 2025-07-31

CORNERSTONE SCHOOLS ASSOCIATION, founded in 1991, is a small nonprofit in the Education sector that reported $928K in total revenue in fiscal year 2024. Expenses of $2.3M exceeded revenue, resulting in a 148% operating deficit.

Mission

CORNERSTONE WILL, THROUGH PARTNERSHIP WITH FAMILIES, SCHOOLS, THE BUSINESS COMMUNITY, AND A BROAD AND BELOVED COMMUNITY, SUPPORT THE EFFORT TO BUILD A MODEL OF EXCELLENCE IN URBAN EDUCATION BY ENCOURAGING THE CREATION OF CENTERS OF HOPE FOR THE CHILDREN OF DETROIT WHICH WILL PREPARE STUDENTS TO LIVE THE COMPLETE LIFE THROUGH ACADEMICS, ATHLETICS, AND AFTER SCHOOL ACTIVITIES.

Program Service Accomplishments

Program 1

Expenses: $2,131,467 Revenue: $883,707

THE ASSOCIATION FOCUSES ON WAYS TO ASSIST CORNERSTONE EDUCATION GROUP (CEG) IN ITS EDUCATIONAL MISSION AS WELL AS OFFERING CHRIST CENTERED ACTIVITIES TO STUDENTS ARE PARENTS ON A VOLUNTARY BASIS...

THE ASSOCIATION FOCUSES ON WAYS TO ASSIST CORNERSTONE EDUCATION GROUP (CEG) IN ITS EDUCATIONAL MISSION AS WELL AS OFFERING CHRIST CENTERED ACTIVITIES TO STUDENTS ARE PARENTS ON A VOLUNTARY BASIS OUTSIDE OF REGULAR SCHOOL HOURS. THE ASSOCIATION ALSO LEASES FACILITIES TO CEG AT ITS NEVADA CAMPUS AND COLLECTS LICENSING FEES TO FUND ITS MISSION.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $44,366

Program Service Revenue $883,707

Investment Income $12

Other Revenue $0

TOTAL REVENUE $928,085

Expense Breakdown

Grants Paid $1,062,362

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $2,131,467

Other Expenses $1,243,130

TOTAL EXPENSES $2,305,492

Year-over-Year Comparison

	2024	2023	Change
Revenue	$928,085	$911,586	+0.0%
Expenses	$2,305,492	$1,454,919	+0.6%
Net Income	$-1,377,407	$-543,333	+1.5%

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

N/A

Volunteers

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL CARR	PRESIDENT	2.00	Officer Director	$0	$0	$0
KATHLEEN THORREZ	SECRETARY	2.00	Director	$0	$0	$0
CAROL MANSFIELD	TREASURER	2.00	Director	$0	$0	$0
JOE THORREZ	DIRECTOR	2.00	Director	$0	$0	$0
TATIANA GRANT	DIRECTOR	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	$928,085	$2,305,492	$6,990,518	$-1,377,407
2024	$911,586	$1,454,919	$7,402,591	$-543,333
2024	$911,586	$1,454,919	$7,402,591	$-543,333
2023	$787,735	$925,544	$8,062,742	$-137,809
2022	$792,812	$1,125,367	$8,386,038	$-332,555
2021	$1,062,889	$1,377,931	$8,774,826	$-315,042
2020	$1,260,098	$1,196,248	$9,077,445	$63,850
2019	$926,575	$939,415	$9,692,084	$-12,840
2018	$2,525,628	$3,170,838	$10,440,683	$-645,210