Nonprofit · EIN 20-8135048
CORNERSTONE ACADEMY
Tax-exempt (reinstated) · ARLINGTON, TX 76018
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| August 31, 2025 | 990 | $994,005 | $557,911 | $436,094 | $115,212 | $14,704 | $100,508 |
| August 31, 2024 | 990 | $388,382 | $1,360,256 | -$971,874 | $151,292 | $18,421 | $132,871 |
Financial details: 990 for the year ended August 31, 2025
Revenue
- Contributions, gifts and grants
- $228,441
- of which government grants
- $59,774
- Program service revenue
- $762,126
- Investment income
- $3,438
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $37,640
- Professional fundraising fees
- $0
- Accounting fees
- $18,000
- Travel
- $1,791
- Depreciation
- $18,283
- Program services (functional)
- $4,218
- Management and general (functional)
- $150,131
Balance sheet and other
- Total assets, start of year
- $151,292
- Total assets, end of year
- $115,212
- Total liabilities, end of year
- $14,704
- Net assets, end of year
- $100,508
- Land, buildings and equipment
- $61,427
- Gross receipts
- $994,005
- Employees
- 14
- Volunteers
- 15
- Year formed
- 2007
- State of legal domicile
- TX
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 August 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| CARLA SMITH | ACADEMY DIRECTOR Key employee | 40 | $102,500 |
| ED HEATHLEY | PRESIDENT Officer | 1 | $0 |
| JENNY HOWELL | SECRETARY | 1 | $0 |
| VERA MCKISSIC | BOARD MEMBER Trustee or director | 1 | $0 |
| GERALD ALLEY | BOARD MEMBER Trustee or director | 1 | $0 |
| CHERYL JONES | BOARD MEMBER | – | $0 |
| SAMANTHA SELLS | BOARD MEMBER | 1 | $0 |
990 for the year ended August 31, 2024: 8 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| CARLA SMITH | ACADEMY DIRECTOR Key employee, Highest-paid employee | 1 | $150,000 |
| HESTER HETLEY | BOARD PRESIDENT Officer | 1 | $0 |
| JENNIFRI HOWELL | SECRETARY Officer | 1 | $0 |
| GERALD ALLEY | TREASURER Officer | 4 | $0 |
| WILLIAM DWIGHT MCKISSIC SR | SCHOOL BOARD MEMBER Institutional trustee | 1 | $0 |
| SAMANTHA SELLS | BOARD MEMBER Institutional trustee | 1 | $0 |
| ED HEATLEY | BOARD MEMBER Institutional trustee | 1 | $0 |
| VERA MCKISSIC | BOARD MEMBER Institutional trustee | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 5415 MATLOCK RD, ARLINGTON, TX 76018-1532
- In care of
- % WM DWIGHT MCKISSIC SR
- Principal officer (990 for 2024)
- HESTER HEATLEY, 2928 VELERO, GRAND PRAIRIE, TX 75054
- Signed the 990
- JENNIFRI HOWELL, SECRETARY
- Phone
- (817) 375-2235
- Website
- WWW.CORNERSTONEACADEMYTX.ORG
- Return prepared by
- SHELTONS BOOKKEEPING & TAX SERVICES
Mission
PROVIDING NBSP;EDUCATION NBSP;AND NBSP;TRAINING NBSP;THAT NBSP;WILL NBSP;BE NBSP;LIFE NBSP;TRANSFORMING NBSP;AND NBSP;PREPARING NBSP;STUDENTS NBSP;FOR NBSP;LIFES NBSP;NEXT NBSP;LEVEL
Program accomplishments
- PROGRAM SERVICES ACCOMPLISHMENT WERE INCREASE OF STAFF WAGES, BUILDING RENOVATION, SIGNAGE FOR MARKETING, PURCHASE OF NEW PLAYGROUND EQUIPMENT, AND PROVIDING FINANCIAL ASSISTANCE TO PARENTS FOR TUITION.
- THE PURPOSE OF THE ACADEMY S PROGRAM SERVICES ACCOMPLISHMENTS FOR THE LARGEST PROGRAM SERVICE WAS FOR PIANO LESSONS ADDED.Expenses $3,000
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 August, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | August 31, 2026 | January 15, 2027 | Not due yet |
| 2024 | August 31, 2025 | January 15, 2026 | 990 on file |
| 2023 | August 31, 2024 | January 15, 2025 | 990 on file |
IRS record
- EIN
- 20-8135048
- 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
- 2013
- Accounting year ends
- August
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B21)
- Assets (IRS master file)
- $115,212
- Income (IRS master file)
- $994,005
Revocation and reinstatement
- Exemption revoked
- January 15, 2011
- Posted by the IRS
- September 7, 2011
- Reinstated
- Effective December 15, 2011
From the IRS automatic revocation list: organizations that did not file a required return or e-Postcard for three consecutive years.
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | August 2025 | $994,005 | $557,911 | $115,212 | XML |
| 990 | August 2024 | $388,382 | $1,360,256 | $151,292 | XML |
| 990 | August 2023 | $1,421,329 | $1,206,586 | $774,747 | IRS |
| 990 | August 2022 | – | – | – | IRS |
| 990 | August 2021 | – | – | – | IRS |
| 990 | August 2020 | – | – | – | IRS |
| 990 | August 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 20-8135048).
Questions about CORNERSTONE ACADEMY
- What is the EIN of CORNERSTONE ACADEMY?
- The employer identification number (EIN) of CORNERSTONE ACADEMY is 20-8135048.
- Is CORNERSTONE ACADEMY tax-exempt?
- Yes. The IRS revoked its exemption on January 15, 2011 and reinstated it effective December 15, 2011.
- Are donations to CORNERSTONE ACADEMY tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does CORNERSTONE ACADEMY 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 ACADEMY due?
- The return for tax year 2025 (the year ending August 31, 2026) is due January 15, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did CORNERSTONE ACADEMY last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended August 2025.
- Who is the principal officer of CORNERSTONE ACADEMY?
- The 990 for the year ended August 31, 2025 names HESTER HEATLEY.
- Who are the officers and directors of CORNERSTONE ACADEMY?
- The 990 for the year ended August 31, 2025 lists 7 people; 1 received compensation from the organization, the highest $102,500 (CARLA SMITH, ACADEMY DIRECTOR).
- How much revenue does CORNERSTONE ACADEMY have?
- On its 990 for the year ended August 31, 2025 it reported revenue of $994,005, expenses of $557,911 and total assets of $115,212 at year end.
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