Cornerstone Christian School

EIN: 540925783 501(c)(3)

Chesapeake, VA

Total Revenue
$46,584
Total Expenses
$100,807
Total Assets
$101,513
Net Assets
$101,513
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
1972
Legal Domicile
VA
Principal Officer
Marcelyn Comstock
Phone
7574247230
Tax Period
2019-07-01 to 2020-06-30

Cornerstone Christian School, founded in 1972, is a micro nonprofit that reported $47K in total revenue in fiscal year 2019. Revenue fell 84% from the prior year — a significant decline worth monitoring. Expenses of $101K exceeded revenue, resulting in a 116% operating deficit.

Mission

A Christian school whose mission is to spread the gospel to students, families, and the community. To educate children from 3 years old to grade 3, including academic preparation and Christian values.

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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%)

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Financial Overview (2019)

Revenue Breakdown

Contributions & Grants $16,114
Program Service Revenue $4,378
Investment Income $25,384
Other Revenue $708
TOTAL REVENUE $46,584

Expense Breakdown

Grants Paid $0
Salaries & Benefits $50,903
Fundraising Expenses $0
Program Expenses $59,767
Other Expenses $49,904
TOTAL EXPENSES $100,807

Year-over-Year Comparison

2019 2018 Change
Revenue $46,584 $287,832 -0.8%
Expenses $100,807 $301,761 -0.7%
Net Income $-54,223 $-13,929 +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

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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
3
Independent Members
3
Employees
15
Volunteers
1

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
0
$0
Total Directors
4
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Jake Tromburg Chairman 4.00
Director
$0 $0 $0
Marcy Comstock Scretary 2.00
Director
$0 $0 $0
Linwood Nelms Board member 2.00
Director
$0 $0 $0
Jennifer Gary 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
2020 $46,584 $100,807 $101,513 $-54,223
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