Nonprofit · EIN 23-7044656
CORNERSTONE COLLEGE OF VIRGINIA
Tax-exempt · SPOTSYLVANIA, VA 22553
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $159,623 | $440,210 | -$280,587 | $1,322,948 | $7,105 | $1,315,843 |
| June 30, 2024 | 990 | $2,098,175 | $505,272 | $1,592,903 | $1,541,107 | $2,893 | $1,538,214 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $8,881
- Program service revenue
- $91,200
- Investment income
- $59,003
- Net gain from sales of assets
- $1,712
- Other revenue
- $539
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $112,619
- Other salaries and wages
- $119,429
- Salaries, compensation and benefits (total)
- $250,986
- Professional fundraising fees
- $0
- Legal fees
- $208
- Occupancy
- $47,324
- Travel
- $626
- Depreciation
- $1,983
- Program services (functional)
- $421,323
- Management and general (functional)
- $18,887
Balance sheet and other
- Total assets, start of year
- $1,541,107
- Total assets, end of year
- $1,322,948
- Total liabilities, end of year
- $7,105
- Net assets, end of year
- $1,315,843
- Land, buildings and equipment
- $2,213
- Publicly traded securities
- $572,014
- Net assets without donor restrictions
- $1,315,843
- Gross receipts
- $378,210
- Employees
- 20
- Volunteers
- 32
- Year formed
- 1969
- State of legal domicile
- VA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Julie Wallace | President Officer | 40 | $76,456 |
| Dr Chris VanBuskirk | Treasurer Trustee or director, Officer | 10 | $34,846 |
| Jay Flickinger | Board Member Trustee or director | 2 | $1,317 |
| Dr Richard Barnett | Chair Trustee or director, Officer | 2 | $0 |
| Dr Joseph Holmes | Vice Chair Trustee or director, Officer | 2 | $0 |
| Glenn Prescott | Board Member Trustee or director | 2 | $0 |
| Marlin Chang | Board Member Trustee or director | 2 | $0 |
| Ryan Flanders | Board Member Trustee or director | 2 | $0 |
990 for the year ended June 30, 2024: 7 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Julie Wallace | President Officer | 40 | $76,200 |
| Dr Chris VanBuskirk | Treasurer Trustee or director, Officer | 10 | $22,980 |
| Dr Richard Barnett | Chair Trustee or director, Officer | 2 | $0 |
| Dr Joseph Holmes | Board Member Trustee or director | 2 | $0 |
| Christopher Voeglin | Board Member Trustee or director | 2 | $0 |
| Glenn Prescott | Board Member Trustee or director | 2 | $0 |
| Marlin Chang | Board Member Trustee or director | 2 | $0 |
Address and contacts
- Address (IRS master file)
- 7501 GRAHAM ST STE 120, SPOTSYLVANIA, VA 22553-2049
- Principal officer (990 for 2024)
- Julie M Wallace, 7501 Graham Street Suite 120, Spotsylvania Courthous, VA 22553
- Signed the 990
- Julie M Wallace, President
- Phone
- (540) 898-5077
- Website
- www.cornerstonecollege.org
- Return prepared by
- MORROW PC
Mission
Teaching Bible Students
Program accomplishments
- Teaching Bible StudentsExpenses $421,323 · revenue $100,620
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 23-7044656
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- School
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1970
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B58Z)
- Assets (IRS master file)
- $1,322,948
- Income (IRS master file)
- $378,210
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $159,623 | $440,210 | $1,322,948 | XML |
| 990 | June 2024 | $2,098,175 | $505,272 | $1,541,107 | XML |
| 990 | June 2023 | $141,620 | $489,928 | $420,126 | IRS |
| 990 | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 23-7044656).
Questions about CORNERSTONE COLLEGE OF VIRGINIA
- What is the EIN of CORNERSTONE COLLEGE OF VIRGINIA?
- The employer identification number (EIN) of CORNERSTONE COLLEGE OF VIRGINIA is 23-7044656.
- Is CORNERSTONE COLLEGE OF VIRGINIA tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1970.
- Are donations to CORNERSTONE COLLEGE OF VIRGINIA tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does CORNERSTONE COLLEGE OF VIRGINIA file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of CORNERSTONE COLLEGE OF VIRGINIA due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did CORNERSTONE COLLEGE OF VIRGINIA last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of CORNERSTONE COLLEGE OF VIRGINIA?
- The 990 for the year ended June 30, 2025 names Julie M Wallace.
- Who are the officers and directors of CORNERSTONE COLLEGE OF VIRGINIA?
- The 990 for the year ended June 30, 2025 lists 8 people; 3 received compensation from the organization, the highest $76,456 (Julie Wallace, President).
- How much revenue does CORNERSTONE COLLEGE OF VIRGINIA have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $159,623, expenses of $440,210 and total assets of $1,322,948 at year end.
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