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Nonprofit · EIN 23-7044656

CORNERSTONE COLLEGE OF VIRGINIA

Tax-exempt · SPOTSYLVANIA, VA 22553

Financials

$2.1M$505K2023$160K$440K2024
Revenue Expenses · by fiscal year end
Financials of CORNERSTONE COLLEGE OF VIRGINIA by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
June 30, 2025990$159,623$440,210-$280,587$1,322,948$7,105$1,315,843
June 30, 2024990$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.

NameTitleHours / weekCompensation
Julie WallacePresident
Officer
40$76,456
Dr Chris VanBuskirkTreasurer
Trustee or director, Officer
10$34,846
Jay FlickingerBoard Member
Trustee or director
2$1,317
Dr Richard BarnettChair
Trustee or director, Officer
2$0
Dr Joseph HolmesVice Chair
Trustee or director, Officer
2$0
Glenn PrescottBoard Member
Trustee or director
2$0
Marlin ChangBoard Member
Trustee or director
2$0
Ryan FlandersBoard Member
Trustee or director
2$0
990 for the year ended June 30, 2024: 7 people
NameTitleHours / weekCompensation
Julie WallacePresident
Officer
40$76,200
Dr Chris VanBuskirkTreasurer
Trustee or director, Officer
10$22,980
Dr Richard BarnettChair
Trustee or director, Officer
2$0
Dr Joseph HolmesBoard Member
Trustee or director
2$0
Christopher VoeglinBoard Member
Trustee or director
2$0
Glenn PrescottBoard Member
Trustee or director
2$0
Marlin ChangBoard 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
Return prepared by
MORROW PC

Mission

Teaching Bible Students

990 for the year ended June 30, 2025

Program accomplishments

  • Teaching Bible Students
    Expenses $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 yearYear endedDueIRS public records
2025June 30, 2026November 16, 2026Not due yet
2024June 30, 2025November 17, 2025990 on file
2023June 30, 2024November 15, 2024990 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

FormYear endedRevenueExpensesAssetsReturn
990June 2025$159,623$440,210$1,322,948XML
990June 2024$2,098,175$505,272$1,541,107XML
990June 2023$141,620$489,928$420,126IRS
990June 2022–––IRS
990June 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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