2025-02-28T16:04:40-06:00 2024-07-31 390859910 BAKER TILLY ADVISORY GROUP LP 790 N WATER ST SUITE 2000 MILWAUKEE WI 53202 990 2023-08-01 382995984 CORNERSTONE SCHOOLS ASSOCIATION CORN 3138921860 6861 E NEVADA DETROIT MI 48234 MIKE CARR CHAIRMAN OF THE BOARD 3138921860 2025-02-27 1 1 SHELBY NETZ CPA P01405265 4147775500 2025-02-26 2023 2025-03-06 01:10:19Z X MIKE CARR 6861 E NEVADA DETROIT MI 48234 911586 0 X WWW.CORNERSTONESCHOOLS.ORG X 1991 MI 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. 4 4 0 4 0 0 0 74775 787710 836787 25 24 0 0 787735 911586 0 0 0 0 0 0 0 0 0 925544 1454919 925544 1454919 -137809 -543333 8062742 7402591 210765 93947 7851977 7308644 X 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. 0 0 1367321 836787 THE ASSOCIATION FOCUSES ON WAYS TO ASSIST CORNERSTONE EDUCATION GROUP ("CEG") IN ITS EDUCATIONAL MISSION AS WELL AS OFFERING CHRIST CENTERED ACTIVITIES TO STUDENTS AND PARENTS ON A VOLUNTARY BASIS OUTSIDE OF REGULAR SCHOOL HOURS. THE ASSOCIATION ALSO LEASES FACILITIES TO CEG AT ITS NEVADA CAMPUS AND COLLECTS LICENSING FEES TO FUND ITS MISSION. 1367321 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 4 4 1 0 0 0 0 0 0 1 1 0 0 1 1 0 1 1 1 0 0 0 X X MIKE CARR 3138921860 6861 E NEVADA DETROIT MI 48234 X CAROL MANSFIELD DIRECTOR 2.00 X 0 0 0 JOE THORREZ DIRECTOR 2.00 X 0 0 0 KATHLEEN THORREZ DIRECTOR 2.00 X 0 0 0 TATIANA GRANT DIRECTOR 2.00 X 0 0 0 MIKE CARR CHAIRMAN 2.00 X 0 0 0 0 0 0 0 0 0 0 0 74775 74775 RENTAL REVENUE- CEG 532000 771365 771365 SUPPORT SERVICES REVEN 611710 65422 65422 836787 24 24 911586 836787 0 24 X 361315 336032 25283 53506 49762 3744 172367 160306 12061 35021 25472 9549 20613 20613 17710 17710 52979 30274 22705 597591 597591 20035 15885 4150 REPAIRS AND MAINTENANCE 57182 54424 2758 PROGRAM EXPENSE 51877 50840 1037 OTHER EXPENSES 14723 8412 6311 1454919 1367321 87598 0 47130 91186 4132 2970 324023 216801 7132 0 20220821 13129187 7680325 7091634 8062742 7402591 26073 93947 184692 0 210765 93947 X 7789818 7246461 62159 62183 7851977 7308644 8062742 7402591 -543333 0 X X 1 X 0 1 0 X 264420 120032 74775 459227 264420 120032 74775 459227 238496 220731 3836 4027 40 25 24 7952 335 335 467514 4353114 0.47210 0.55270 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 62159 24 0 62183 62134 25 0 62159 118775 40 56681 62134 226585 4027 111837 118775 249279 3868 26562 226585 1.00000 0 0 16984258 11050347 5933911 1611913 502681 1109232 1286305 1257493 28812 338345 318666 19679 7091634 X PART V, LINE 4: NET ASSETS WITH DONOR RESTRICTIONS WERE RELEASED FROM DONOR RESTRICTIONS BY INCURRING EXPENSES SATISFYING THE RESTRICTED PURPOSES OR BY OCCURRENCE OF EVENTS SPECIFIED BY THE DONORS AND WERE RECLASSIFIED TO NET ASSETS WITHOUT DONOR RESTRICTION FOR OPERATIONS AND PROGRAMS. PART X, LINE 2: THE ASSOCIATION IS A NONPROFIT CORPORATION AND IS EXEMPT FROM INCOME TAXES UNDER PROVISIONS OF INTERNAL REVENUE CODE SECTION 501(A) RELATING TO NONPROFIT ORGANIZATIONS, SUCH AS AN ORGANIZATION DESCRIBED IN INTERNAL REVENUE CODE SECTION 501(C)(3). ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE ASSOCIATION AND RECOGNIZE A TAX LIABILITY IF THE ASSOCIATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ASSOCIATION AND HAS CONCLUDED THAT AS OF JULY 31, 2024 AND 2023, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE ASSOCIATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. FORM 990, PART VI, SECTION A, LINE 2 KATHLEEN AND JOE THORREZ ARE MARRIED. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED AND APPROVED BY THE CHAIR OF THE BOARD PRIOR TO FILING. EACH BOARD MEMBER RECEIVES A COPY OF THE FORM 990 BEFORE THE RETURN IS FILED AND HAS AN OPPORTUNITY TO REVIEW AND COMMENT. FORM 990, PART VI, SECTION B, LINE 12C AS A MEMBER OF INDEPEDENT SCHOOLS ASSOCIATION OF CENTRAL STATES (ISACS), CSA SUBSCRIBES TO THEIR BEST PRACTICES GUIDELINES. IF WE WERE TO HAVE A CONFLICT, THE BOARD CHAIR WOULD FOLLOW THE ISACS GUIDELINES. THE BOARD FOLLOWS ISO STANDARDS AND COMPLETES MONTHLY VENDOR REVIEWS TO MONITOR POSSIBLE CONFLICTS. THE CONFLICT OF INTEREST POLICY COVERS BOARD MEMBERS AND ALL EMPLOYEES OF THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 15 THE CEO POSITION WAS ELIMINATED SEVERAL YEARS AGO, AND THE ORGANIZATION'S TOP MANAGEMENT OFFICAL IS COMPENSATED REASONABLY. FORM 990, PART VI, SECTION C, LINE 19 REQUESTS CAN BE MADE IN WRITING OR VIA EMAIL ALSO FINANCIALS AND FORM 990 ARE NOW POSTED AT OUR WEBSITE. FORM 990, PART IX, LINE 11G PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 160,306. MANAGEMENT AND GENERAL EXPENSES 12,061. TOTAL EXPENSES 172,367. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. FORM 990, PAGE 1, ITEM B: THE ORGANIZATION IS AMENDING ITS ORIGINALLY TIMELY-FILED FORM 990 FOR THE PERIOD ENDED JULY 31, 2024 TO ACCOUNT FOR ACTUAL AMOUNTS PAID TO CONTRACTORS. AS SUCH, THE FOLLOWING CHANGES HAVE BEEN REFLECTED IN THE AMENDED RETURN: 1. FORM 990, PART VII, SECTION B - REMOVAL OF CONTRACTOR LISTING AS AMOUNTS PAID FOR SERVICES RENDERED DID NOT EXCEED $100,000 TO ANY ONE CONTRACTOR DURING THE REPORTING PERIOD.