CORNERSTONE SCHOOLS ASSOCIATION (EIN 382995984) - Form 990 Financial Analysis & Trantor Score

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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

2023-08-01 to 2024-07-31

CORNERSTONE SCHOOLS ASSOCIATION, founded in 1991, is a small nonprofit in the Education sector that reported $912K in total revenue in fiscal year 2023. Revenue grew 16% year-over-year, indicating healthy expansion. Expenses of $1.5M exceeded revenue, resulting in a 60% 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.

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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 (2023)

Revenue Breakdown

Contributions & Grants $74,775

Program Service Revenue $836,787

Investment Income $24

Other Revenue $0

TOTAL REVENUE $911,586

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,367,321

Other Expenses $1,454,919

TOTAL EXPENSES $1,454,919

Year-over-Year Comparison

	2023	2022	Change
Revenue	$911,586	$787,735	+0.2%
Expenses	$1,454,919	$925,544	+0.6%
Net Income	$-543,333	$-137,809	+2.9%

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

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
CAROL MANSFIELD	DIRECTOR	2.00	Director	$0	$0	$0
JOE THORREZ	DIRECTOR	2.00	Director	$0	$0	$0
KATHLEEN THORREZ	DIRECTOR	2.00	Director	$0	$0	$0
TATIANA GRANT	DIRECTOR	2.00	Director	$0	$0	$0
MIKE CARR	CHAIRMAN	2.00	Officer	$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
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

CORNERSTONE SCHOOLS ASSOCIATION