The mission of Cornerstone Academy is to provide students with an intentionally small Christian high school experience that is personalized, comprehensive, and leads toward a diploma, a Christian moral code, and tools for self-sufficiency.

501(c)(3) charity; gifts are tax-deductible.
78¢ of each $1 spent went to programs.
$80K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average deficit $900 a year · under 1% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
78%
of spending
Looks good: 78% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$80K
to officers and key staff · 23% of spending
Worth a look: pay to officers and key staff is 23% of spending; over 20%.
Pt VII · Sec A
5 mo
of spending, in cash
Looks good: 4.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
5
named funders · $97K
Looks good: 5 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$44K
20% of total assets
Looks good: liabilities are 20% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$343K
-25% vs prior year
Spent
$343K
To programs
78%
Net assets
$172K
By yearFY2021–FY2025
Revenue
$343K
FY2023▼ -25%
Tap a bar for its year
Revenue by fiscal year
FY2021$382K
FY2022$458K
FY2023$343K
FY2024$340K
FY2025$245K
Expenses
$343K
FY2023▼ -19%
Tap a bar for its year
Expenses by fiscal year
FY2021$357K
FY2022$422K
FY2023$343K
FY2024$320K
FY2025$330K
Net assets
$172K
FY2023-0.1%
Tap a bar for its year
Net assets by fiscal year
FY2021$137K
FY2022$172K
FY2023$172K
FY2024$192K
FY2025$107K

From the FY2023 Form 990 (year ending June 2023) · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 1996.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

78 cents of each dollar spent went to programs.

Program services 78% · $266K Management & general 16% · $56K Fundraising 6% · $21K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

9 people listed on the 990; $80K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$55,416Pt VII · Sec A
$24,166Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice-President
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Vice-Treasurer
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A

Jeffrey Fields’s $70K as Principal is at the 62nd percentile of top reported officer pay among 1613 $100K–1M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021
Jeffrey Fields$70,000$70,000———
Jeffery Fields——$55,416——
Jim Wilkes———$28,638$27,670
William Seitz—$22,000$24,166$17,223$16,641

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Cornerstone Academy executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Offers a personalized Christian high school education for self-sufficiency.

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Provided by the organization

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1 program · $266K · in their own filed words · FY2022
01

Cornerstone academy provides students with an intentionally small christian high school experience that is personalized, comprehensive, and leads toward a diploma, a christian moral code, and tools for SELF-SUFFICIENCY.THE cornerstone academy work study program (the "work study program") was formed during the fiscal year ended june 30…

$266Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
See all 5 funders →

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$343K
Ln 12
Gifts and grantsLn 1h$234K
Fees for servicesLn 2g$68K
Other incomeLn 4–11$40K
Money outPt IX
$343K
Ln 25
Programscol B$266K
Managementcol C$56K
Fundraisingcol D$21K
Owns and owesPt X
$172K
net assets · Ln 32
Cash and savingsLn 1–2$132K
Total assetsLn 16$216K
LiabilitiesLn 26$44K
PeoplePt VI, VII
9
listed · VII A
PaidVII A2
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$234K
Fees for servicesLn 2g$68K
Other incomeLn 4–11$40K
Total revenueLn 12$343K
Assets in detailPt X, end of year
CashLn 1$132K
Cash and savings togetherLn 1–2$132K
Land, buildings, equipmentLn 10c$43K
Total assetsLn 16$216K
LiabilitiesLn 26$44K
Net assetsLn 32$172K
OperationsPt I, VI
EmployeesI 57
VolunteersI 66
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$138K$132K
Land, buildings, equipmentLn 10c$47K$43K
Total assetsLn 16$197K$216K
LiabilitiesLn 26$24K$44K
Net assetsLn 32$172K$172K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$221K$184K$22K$16K
Payroll taxesLn 10$17K$15K$2K$1K
Office expensesLn 13$11K$11K
OccupancyLn 16$36K$30K$4K$3K
Depreciation, depletion and amortizationLn 22$5K$4K$522$379
InsuranceLn 23$4K$1K$2K$94
Other expenses (24a–d)Ln 24$28K$17K$10K$1K
All other expensesLn 24e$20K$15K$5K
Total functional expensesLn 25$343K$266K$56K$21K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $245K$330K−$85K$107K 990 PDF
FY2024 $340K$320K$20K$192K 990 PDF
FY2023 Viewing $343K$343K−$228$172K 990 PDF
FY2022 $458K$422K$36K$172K 990 PDF
FY2021 $382K$357K$25K$137K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $342,767 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $263,464$234,473
I-9 Program service revenuePrior year $58,596$67,996
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $135,862$40,298
I-12 Total revenuePrior year $457,922$342,767
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $262,911$238,605
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $159,256$104,390
I-18 Total expensesPrior year $422,167$342,995
I-19 Revenue less expensesPrior year $35,755−$228
Part VI · Governance 9 of 9 board members independent, 1 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $342,767 across 6 lines filed
VIII-1f All other contributions, gifts and grants$234,473
VIII-1h Total contributions, gifts and grants$234,473
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $67,996$67,996
VIII-8 Net income from fundraising eventsExcluded from tax $40,271$40,271
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $27$27
VIII-12 Total revenueRelated to mission $68,023 · Unrelated business $0 · Excluded from tax $40,271$342,767
Part IX · Statement of functional expenses $342,995 across 8 lines filed
IX-7 Other salaries and wagesPrograms $183,768 · Management $21,647 · Fundraising $15,699$221,114
IX-10 Payroll taxesPrograms $14,537 · Management $1,712 · Fundraising $1,242$17,491
IX-13 Office expensesManagement $11,275$11,275
IX-16 OccupancyPrograms $30,335 · Management $3,573 · Fundraising $2,592$36,500
IX-22 Depreciation, depletion and amortizationPrograms $4,435 · Management $522 · Fundraising $379$5,336
IX-23 InsurancePrograms $1,096 · Management $2,486 · Fundraising $94$3,676
IX-24 Other expenses (24a–d)Programs $16,678 · Management $9,958 · Fundraising $1,152$27,788
IX-24e All other expensesPrograms $15,102 · Management $4,713$19,815
IX-25 Total functional expensesPrograms $265,951 · Management $55,886 · Fundraising $21,158$342,995
Part X · Balance sheet $215,996 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $137,905$131,677
X-4 Accounts receivableStart of year $790$35,106
X-9 Prepaid expenses and deferred chargesStart of year $11,277$5,830
X-10c Land, buildings and equipment, netStart of year $46,784$43,383
X-16 Total assetsStart of year $196,756$215,996
X-17 Accounts payable and accrued expensesStart of year $24,470$43,938
X-26 Total liabilitiesStart of year $24,470$43,938
X-27 Net assets without donor restrictionsStart of year $172,286$172,058
X-32 Total net assets or fund balancesStart of year $172,286$172,058
X-33 Total liabilities and net assetsStart of year $196,756$215,996
Part XI · Reconciliation of net assets $172,058 net assets at year end
XI-1 Total revenue$342,767
XI-2 Total expenses$342,995
XI-3 Revenue less expenses−$228
XI-4 Net assets at start of year$172,286
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$172,058

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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