Cornerstone Child Development Center INC FY2024 filing

Tax-deductible

Louisville, KY501(c)(3)EIN 61-1474064Revenue $2.4M in FY2024

On file with the IRScornerstonechild.org211 Browns Ln, 40207-3215 · Louisville, KYTax-exempt since Aug 2005Publicly supported — 509(a)(2)

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To provide young children ages 6 weeks through 5 years old with Development and educational activities and learning experiences.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
$205K 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

FY2024 · 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
4 of 5
filings with a surplus
Average surplus $150K a year · 7% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$205K
to officers and key staff · 9% of spending
Looks good: pay to officers and key staff is 9% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
7 mo
of spending, in cash
Looks good: 7.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $6K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2.5M
71% of total assets
Worth a look: liabilities are 71% of assets; over 65%.
Pt X · Ln 26
Independent board members
16
of 16 voting members
Looks good: 16 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.4M
-2% vs prior year
Spent
$2.2M
To programs
100%
Net assets
$1.0M
By yearFY2021–FY2025
Revenue
$2.4M
FY2024▼ -2%
Tap a bar for its year
Revenue by fiscal year
FY2021$1.8M
FY2022$2.3M
FY2023$2.4M
FY2024$2.4M
FY2025$2.2M
Expenses
$2.2M
FY2024▲ +6%
Tap a bar for its year
Expenses by fiscal year
FY2021$1.6M
FY2022$2.1M
FY2023$2.1M
FY2024$2.2M
FY2025$2.3M
Net assets
$1.0M
FY2024▲ +14%
Tap a bar for its year
Net assets by fiscal year
FY2021$359K
FY2022$569K
FY2023$880K
FY2024$1.0M
FY2025$863K

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 2005.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $2.2M

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

16 people listed on the 990; $205K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Executive Direc
$136,524Pt VII · Sec A
Assistant Direc
$68,159Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

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

NameFY2025FY2024FY2023FY2022FY2021
Bridget Yates$137,628$136,524$121,883$115,250$99,613
Sandy Bertke$68,870$68,159$60,604——
Sandy Betke———$55,473—
Kim Cox———$44,824—

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.

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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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Offers young children developmental and educational activities and learning experiences.

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Provided by the organization

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1 program · $2.2M · in their own filed words · FY2023
01

Provided children with developmental and educational activities and learning experiences.

$2.2Mprogram 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
Total grants receivedfrom 1 funder$6K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$2.4M
Ln 12
Fees for servicesLn 2g$2.1M
Gifts and grantsLn 1h$264K
Other incomeLn 4–11$5K
Money outPt IX
$2.2M
Ln 25
Programscol B$2.2M
Owns and owesPt X
$1.0M
net assets · Ln 32
Cash and savingsLn 1–2$1.4M
Total assetsLn 16$3.5M
LiabilitiesLn 26$2.5M
PeoplePt VI, VII
16
listed · VII A
PaidVII A2
Voting boardVI 1a16
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$264K
Fees for servicesLn 2g$2.1M
Investment incomeLn 3$3K
Other incomeLn 4–11$5K
Total revenueLn 12$2.4M
Assets in detailPt X, end of year
CashLn 1$1.4M
Cash and savings togetherLn 1–2$1.4M
Land, buildings, equipmentLn 10c$136K
Other assetsLn 15$2.0M
Total assetsLn 16$3.5M
LiabilitiesLn 26$2.5M
Net assetsLn 32$1.0M
OperationsPt I, VI
EmployeesI 573
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$1.2M$1.4M
Land, buildings, equipmentLn 10c$141K$136K
Total assetsLn 16$1.4M$3.5M
LiabilitiesLn 26$510K$2.5M
Net assetsLn 32$880K$1.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$205K$205K
Other salaries and wagesLn 7$1.3M$1.3M
Other employee benefitsLn 9$87K$87K
Payroll taxesLn 10$112K$112K
Legal feesLn 11b$4K$4K
Accounting feesLn 11c$2K$2K
Advertising and promotionLn 12$622$622
OccupancyLn 16$234K$234K
InterestLn 20$26K$26K
Depreciation, depletion and amortizationLn 22$14K$14K
InsuranceLn 23$18K$18K
Other expenses (24a–d)Ln 24$264K$264K
All other expensesLn 24e$4K$4K
Total functional expensesLn 25$2.2M$2.2M$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $2.2M$2.3M−$142K$863K 990 PDF
FY2024 Viewing $2.4M$2.2M$126K$1.0M 990 PDF
FY2023 $2.4M$2.1M$310K$880K 990 PDF
FY2022 $2.3M$2.1M$210K$569K 990 PDF
FY2021 $1.8M$1.6M$246K$359K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $2,351,957 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $651,133$263,602
I-9 Program service revenuePrior year $1,749,859$2,080,420
I-10 Investment incomePrior year $1,770$2,750
I-11 Other revenuePrior year $8,286$5,185
I-12 Total revenuePrior year $2,411,048$2,351,957
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 $1,595,343$1,658,429
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $505,394$567,626
I-18 Total expensesPrior year $2,100,737$2,226,055
I-19 Revenue less expensesPrior year $310,311$125,902
Part VI · Governance 16 of 16 board members independent, 2 to look at
VI-1a Voting members of the governing body16
VI-1b Independent voting members16
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $2,351,957 across 6 lines filed
VIII-1f All other contributions, gifts and grants$263,602
VIII-1h Total contributions, gifts and grants$263,602
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,080,420$2,080,420
VIII-3 Investment incomeUnrelated business $2,750$2,750
VIII-8 Net income from fundraising eventsExcluded from tax $5,185$5,185
VIII-12 Total revenueRelated to mission $2,080,420 · Unrelated business $2,750 · Excluded from tax $5,185$2,351,957
Part IX · Statement of functional expenses $2,226,055 across 13 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $204,683$204,683
IX-7 Other salaries and wagesPrograms $1,254,699$1,254,699
IX-9 Other employee benefitsPrograms $86,962$86,962
IX-10 Payroll taxesPrograms $112,085$112,085
IX-11b Legal feesPrograms $3,888$3,888
IX-11c Accounting feesPrograms $1,755$1,755
IX-12 Advertising and promotionPrograms $622$622
IX-16 OccupancyPrograms $234,349$234,349
IX-20 InterestPrograms $26,460$26,460
IX-22 Depreciation, depletion and amortizationPrograms $13,816$13,816
IX-23 InsurancePrograms $18,013$18,013
IX-24 Other expenses (24a–d)Programs $264,373$264,373
IX-24e All other expensesPrograms $4,350$4,350
IX-25 Total functional expensesPrograms $2,226,055 · Management $0 · Fundraising $0$2,226,055
Part X · Balance sheet $3,492,661 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $1,247,620$1,362,750
X-4 Accounts receivableStart of year $588$32,642
X-9 Prepaid expenses and deferred chargesStart of year $1,186$1,336
X-10c Land, buildings and equipment, netStart of year $140,522$135,799
X-15 Other assetsStart of year $0$1,960,134
X-16 Total assetsStart of year $1,389,916$3,492,661
X-17 Accounts payable and accrued expensesStart of year $10,407$25,156
X-24 Unsecured notes and loans payableStart of year $500,000$500,000
X-25 Other liabilitiesStart of year $0$1,962,094
X-26 Total liabilitiesStart of year $510,407$2,487,250
X-32 Total net assets or fund balancesStart of year $879,509$1,005,411
X-33 Total liabilities and net assetsStart of year $1,389,916$3,492,661
Part XI · Reconciliation of net assets $1,005,411 net assets at year end
XI-1 Total revenue$2,351,957
XI-2 Total expenses$2,226,055
XI-3 Revenue less expenses$125,902
XI-4 Net assets at start of year$879,509
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,005,411

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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