Nonprofit · EIN 38-2995984
CORNERSTONE SCHOOLS ASSOCIATION
Tax-exempt · DETROIT, MI 48234
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| July 31, 2025 | 990 | $928,085 | $2,305,492 | -$1,377,407 | $6,990,518 | $1,547,817 | $5,442,701 |
| July 31, 2024 | 990 (amended) | $911,586 | $1,454,919 | -$543,333 | $7,402,591 | $93,947 | $7,308,644 |
| July 31, 2023 | 990 | $787,735 | $925,544 | -$137,809 | $8,062,742 | $210,765 | $7,851,977 |
Financial details: 990 for the year ended July 31, 2025
Revenue
- Contributions, gifts and grants
- $44,366
- Program service revenue
- $883,707
- Investment income
- $12
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $1,062,362
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $114,625
- Accounting fees
- $54,915
- Travel
- $7,489
- Depreciation
- $633,058
- Program services (functional)
- $2,131,467
- Management and general (functional)
- $174,025
Balance sheet and other
- Total assets, start of year
- $7,402,591
- Total assets, end of year
- $6,990,518
- Total liabilities, end of year
- $1,547,817
- Net assets, end of year
- $5,442,701
- Land, buildings and equipment
- $6,805,965
- Net assets without donor restrictions
- $5,380,506
- Net assets with donor restrictions
- $62,195
- Gross receipts
- $928,085
- Employees
- 0
- Volunteers
- 0
- Year formed
- 1991
- State of legal domicile
- MI
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 July 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MICHAEL CARR | PRESIDENT Trustee or director, Officer | 2 | $0 |
| KATHLEEN THORREZ | SECRETARY Trustee or director | 2 | $0 |
| CAROL MANSFIELD | TREASURER Trustee or director | 2 | $0 |
| JOE THORREZ | DIRECTOR Trustee or director | 2 | $0 |
| TATIANA GRANT | DIRECTOR Trustee or director | 2 | $0 |
990 for the year ended July 31, 2024: 5 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| CAROL MANSFIELD | DIRECTOR Trustee or director | 2 | $0 |
| JOE THORREZ | DIRECTOR Trustee or director | 2 | $0 |
| KATHLEEN THORREZ | DIRECTOR Trustee or director | 2 | $0 |
| TATIANA GRANT | DIRECTOR Trustee or director | 2 | $0 |
| MIKE CARR | CHAIRMAN Officer | 2 | $0 |
990 for the year ended July 31, 2023: 5 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| CAROL MANSFIELD | DIRECTOR Trustee or director | 2 | $0 |
| JOE THORREZ | DIRECTOR Trustee or director | 2 | $0 |
| KATHLEEN THORREZ | DIRECTOR Trustee or director | 2 | $0 |
| TATIANA GRANT | DIRECTOR Trustee or director | 2 | $0 |
| MIKE CARR | CHAIRMAN Officer | 2 | $0 |
Address and contacts
- Address (IRS master file)
- 6861 E NEVADA, DETROIT, MI 48234-2968
- Principal officer (990 for 2024)
- MIKE CARR, 6861 E NEVADA, DETROIT, MI 48234
- Signed the 990
- MIKE CARR, CHAIRMAN OF THE BOARD
- Phone
- (313) 892-1860
- Website
- WWW.CORNERSTONESCHOOLS.ORG
- Return prepared by
- UHY ADVISORS GREAT LAKES INC
Mission
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.
Program accomplishments
- THE ASSOCIATION FOCUSES ON WAYS TO ASSIST CORNERSTONE EDUCATION GROUP (CEG) IN ITS EDUCATIONAL MISSION AS WELL AS OFFERING CHRIST CENTERED ACTIVITIES TO STUDENTS ARE 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.Expenses $2,131,467 · grants $1,062,362 · revenue $883,707
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 July, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | July 31, 2026 | December 15, 2026 | Not due yet |
| 2024 | July 31, 2025 | December 15, 2025 | 990 on file |
| 2023 | July 31, 2024 | December 16, 2024 | 990 on file |
IRS record
- EIN
- 38-2995984
- 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
- 1993
- Accounting year ends
- July
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B20Z)
- Assets (IRS master file)
- $6,990,518
- Income (IRS master file)
- $928,085
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | July 2025 | $928,085 | $2,305,492 | $6,990,518 | XML |
| 990 | July 2024 | $911,586 | $1,454,919 | $7,402,591 | XML |
| 990 | July 2023 | $787,735 | $925,544 | $8,062,742 | XML |
| 990 | July 2022 | $792,812 | $1,125,367 | $8,386,038 | IRS |
| 990 | July 2021 | – | – | – | IRS |
| 990 | July 2020 | – | – | – | IRS |
| 990 | July 2019 | – | – | – | IRS |
| 990 | July 2018 | – | – | – | 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 38-2995984).
Questions about CORNERSTONE SCHOOLS ASSOCIATION
- What is the EIN of CORNERSTONE SCHOOLS ASSOCIATION?
- The employer identification number (EIN) of CORNERSTONE SCHOOLS ASSOCIATION is 38-2995984.
- Is CORNERSTONE SCHOOLS ASSOCIATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1993.
- Are donations to CORNERSTONE SCHOOLS ASSOCIATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does CORNERSTONE SCHOOLS ASSOCIATION 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 SCHOOLS ASSOCIATION due?
- The return for tax year 2025 (the year ending July 31, 2026) is due December 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did CORNERSTONE SCHOOLS ASSOCIATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended July 2025.
- Who is the principal officer of CORNERSTONE SCHOOLS ASSOCIATION?
- The 990 for the year ended July 31, 2025 names MIKE CARR.
- Who are the officers and directors of CORNERSTONE SCHOOLS ASSOCIATION?
- The 990 for the year ended July 31, 2025 lists 5 people; 0 received compensation from the organization.
- How much revenue does CORNERSTONE SCHOOLS ASSOCIATION have?
- On its 990 for the year ended July 31, 2025 it reported revenue of $928,085, expenses of $2,305,492 and total assets of $6,990,518 at year end.
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