Cause IQ organization profile

Cornerstone Charter Academy

Cornerstone Charter Academy is a charter school based in Miami, FL that was founded in 2010. As of 2019 they had $12 million in revenue and $8.3 million in assets.

Cornerstone Charter Academy's mission is to provide a college preparatory educational environment with a curricular emphasis on biotechnology and life sciences that furthers the philosophy of respect and high expectations for all.

Previous legal names or variations of their name include: City Of Belle Isle Charter Schools.

EIN:

27-2154495

City:

Miami

State:

Florida

Website:

cornerstonecharter.com

Phone:

(407) 608-7171

Twitter:

@cornerstoneduck

Founded:

2010

Type:

501(c)(3)

NTEE:

B29: Charter schools

Revenue:

$12,355,640

Assets:

$8,343,305

Employees:

193

Fiscal year end:

June

Revenue trends:

Asset trends:

Program areas at Cornerstone Charter Academy

City of Belle Isle Charter school Inc provides education for children from kindergarten through twelfth grade. For the fiscal year ended june 30, 2019, 1,460 students were enrolled.

Form 990s for Cornerstone Charter Academy

Fiscal year ending	Date received by IRS	Form	PDF link
2019-06	Sep 3, 2020	990	View PDF
2018-06	May 14, 2019	990	View PDF
2017-06	Oct 16, 2018	990	View PDF
2016-06	Jun 14, 2017	990	View PDF
2015-06	Jun 17, 2016	990	View PDF
...and four more Form 990 PDFs

Financials for Cornerstone Charter Academy

Field	2019	2018	% Change
Federated campaigns	$0	$0
Membership dues	$0	$0
Fundraising event contributions	$0	$0
Related organizations	$0	$0
Government grants (contributions)	$11,883,490	$11,200,616	6.1%
Normal grants, contributions, etc.	$0	$4,800	-100%
<em>Non-cash contributions included in above</em>	$0	$0
Total grants, contributions, etc.	$11,883,490	$11,205,416	6.1%

Field	2019	2018	% Change
Total grants, contributions, etc.	$11,883,490	$11,205,416	6.1%
Program services	$306,330	$274,192	11.7%
Investment income and dividends	$93,366	$43,226	116.0%
Tax-exempt bond proceeds	$0	$0
Royalty revenue	$0	$0
Net rental income	$0	$0
Net gain from sale of non-inventory assets	$0	$0
Net income from fundraising events	$69,986	$5,138	1262.1%
Net income from gaming activities	$0	$0
Net income from sales of inventory	$0	$0
Miscellaneous revenues	$2,468	$18,981	-87.0%
Total revenues	$12,355,640	$11,546,953	7.0%

Field	2019	2018	% Change
Grants to govts. and orgs. in USA	$0	$0
Grants to individuals in USA	$0	$0
Grants to govts., orgs., and individuals outside USA	$0	$0
Benefits paid to or for members	$0	$0
Compensation of current officers, etc.	$0	$0
Compensation not included above, to disqualified persons	$0	$0
Non-officer salaries and wages	$5,659,310	$5,293,072	6.9%
Pension/retirement accruals and contributions	$91,916	$88,344	4.0%
Other employee benefits	$1,065,032	$975,825	9.1%
Payroll taxes	$0	$0
Management fees	$664,200	$643,050	3.3%
Legal fees	$3,298	$21,723	-84.8%
Accounting fees	$26,500	$26,700	-0.7%
Lobbying fees	$0	$0
Pro. fundraising fees	$0	$0
Investment mgmt fees	$0	$0
Other fee-for-service	$373,428	$307,330	21.5%
Advertising and promotion	$0	$0
Office expenses	$0	$0
Information tech. expenses	$0	$0
Royalty expenses	$0	$0
Occupancy	$1,147,307	$929,791	23.4%
Travel	$10,592	$13,902	-23.8%
Public official travel and entertainment	$0	$0
Conferences, meetings, etc.	$0	$0
Interest	$10,021	$3,417	193.3%
Payments to affiliates	$0	$0
Depreciation, amortization, etc.	$938,320	$808,830	16.0%
Insurance	$124,403	$194,478	-36.0%
All other expenses	$1,444,007	$1,374,036	5.1%
Total expenses	$11,558,334	$10,680,498	8.2%

Field	2019	2018	% Change
Cash (non-interest-bearing)	$16,227	$17,299	-6.2%
Savings, short-term investments, etc.	$5,451,000	$4,200,675	29.8%
Pledges and grants receivable	$0	$0
Accounts receivable	$57,836	$21,849	164.7%
Loans receivable from officers, directors, etc.	$0	$0
Loans receivable from other disqualified persons	$0	$0
Notes and loans receivable	$0	$0
Inventories for use	$0	$0
Prepaid expenses and deferred charges	$144,617	$288,401	-49.9%
Buildings, equipment, etc. post-depreciation	$2,673,625	$2,690,533	-0.6%
Investments, publicly traded securities	$0	$0
Investments, other securities	$0	$0
Investments, program-related	$0	$0
Intangible assets	$0	$0
Other assets	$0	$0
Total assets	$8,343,305	$7,218,757	15.6%

Field	2019	2018	% Change
Accounts payable and accrued expenses	$443,489	$261,383	69.7%
Grants payable	$0	$0
Deferred revenue	$0	$0
Tax-exempt bond liabilities	$0	$0
Escrow or custodial account liability	$0	$0
Loans payable to officers and disqualified persons	$0	$0
Secured mortgages and notes payable to unrelated third parties	$0	$0
Unsecured notes and loans payable to unrelated third parties	$191,562	$67,085	185.6%
Other liabilities	$130,600	$109,941	18.8%
Total liabilities	$765,651	$438,409	74.6%

Field	2019	2018	% Change
Unrestricted net assets	$7,577,654	$6,780,348	11.8%
Temporarily restricted net assets	$0	$0
Permanently restricted net assets	$0	$0

Vendors for Cornerstone Charter Academy

Vendor	Services	Amount paid	Date
HLB Gravier LLP	Tax accounting		2020-09-03
█████████ ████████	Software		2019-10-23
█████████	Outsourced management		2019-06-01
█████████ ████ ███	Education Support Provider	$689,400	2019-06-01
███ ███████████	Employee Leasing	$6,679,583	2019-06-01
████ ██████	Energy Services	$183,594	2019-06-01
████ ██ █████ ████	Rental Services	$1,084,808	2019-06-01
███████████ ███████ ███████ ██	Catering Services	$421,574	2019-06-01

Personnel at Cornerstone Charter Academy

Name	Title	Compensation	Most recent data
Dr. Renee Pancoast	Principal	$133,388	Aug. 10, 2020
Mr. Kevin Peyton	Athletic Director	-	Aug. 10, 2020
███ ██████ ███████	Administrative Office Manager	-	Aug. 10, 2020
███ █████ ███ █████	Secretary	$0	Aug. 10, 2020
███████ ██ ███████ ███	Chair	$0	Aug. 10, 2020
█████ ███	Director , Vice Chairman	$0	June 30, 2018

Peer charter schools

	Name	Type	Revenue	Location
1	South Mckeel Academy	501(c)(3)	$8.8 million	Lakeland, FL
2	Palmetto Charter School	501(c)(3)	$3.2 million	Palmetto, FL
3	Downtown Miami Charter School (DMCS)	501(c)(3)	$6.0 million	Miami, FL
4	Eagles Nest Charter Academy	501(c)(3)	$5.8 million	Fort Lauderdale, FL
5	G-Star School of the Arts	501(c)(3)	$7.2 million	Palm Springs, FL
6	Terrace Community School (TCMS)	501(c)(3)	$5.3 million	Thonotosassa, FL
7	Western Academy Charter School (WACS)	501(c)(3)	$4.2 million	Royal Palm Beach, FL
8	Brooks-Debartolo Collegiate High School (BDCHS)	501(c)(3)	$4.5 million	Tampa, FL
9	Coral Reef Montessori Academy	501(c)(3)	$4.5 million	Miami, FL
10	Downtown Doral Charter Elementary School (DDCES)	501(c)(3)	$7.3 million	Doral, FL
11	Suncoast School for Innovative Studies	501(c)(3)	$4.4 million	Sarasota, FL
12	Belmont Academy	501(c)(3)	$4.0 million	Lake City, FL
13	McKeel Academy of Technology	501(c)(3)	$25 million	Lakeland, FL
14	Doral Academy Prep	501(c)(3)	$38 million	Miami, FL
15	Central Charter School	501(c)(3)	$10 million	Lauderdale Lakes, FL
16	Indian River Charter High School (IRCHS)	501(c)(3)	$5.7 million	Vero Beach, FL
17	Berkley Charter School (BCS)	501(c)(3)	$6.4 million	Auburndale, FL
18	Mckeel Elementary Academy	501(c)(3)	$3.2 million	Lakeland, FL
19	Minneola Elementary School	501(c)(3)	$8.0 million	Minneola, FL
20	Pepin Academies	501(c)(3)	$11 million	Riverview, FL
21	Roundlake Lake Elementary School	501(c)(3)	$7.5 million	Mount Dora, FL
22	Plato Academy Schools	501(c)(3)	$24 million	Clearwater, FL
23	Reading Edge Academy	501(c)(3)	$4.5 million	Debary, FL
24	Palm Bay Academy	501(c)(3)	$4.7 million	Palm Bay, FL
25	Seacoast Charter Academy	501(c)(3)	$3.6 million	Jacksonville, FL

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Cause IQ organization profile

Cornerstone Charter Academy

Program areas at Cornerstone Charter Academy

Form 990s for Cornerstone Charter Academy

Financials for Cornerstone Charter Academy

Vendors for Cornerstone Charter Academy

Personnel at Cornerstone Charter Academy

Peer charter schools

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