Nonprofit · EIN 31-1832330
CORNERSTONE PREPARATORY ACADEMY
Tax-exempt · ACWORTH, GA 30101
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $3,448,990 | $3,780,636 | -$331,646 | $10,907,316 | $6,070,118 | $4,837,198 |
| June 30, 2024 | 990 | $3,726,340 | $3,649,579 | $76,761 | $11,590,292 | $6,421,448 | $5,168,844 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $32,735
- Program service revenue
- $3,312,898
- Investment income
- $81,812
- Net income from fundraising events
- $21,545
- Other revenue
- $21,545
Expenses
- Grants and similar amounts paid
- $0
- Other salaries and wages
- $1,891,086
- Salaries, compensation and benefits (total)
- $2,106,911
- Professional fundraising fees
- $0
- Legal fees
- $325
- Accounting fees
- $11,500
- Depreciation
- $275,004
- Program services (functional)
- $3,034,159
- Management and general (functional)
- $746,477
Balance sheet and other
- Total assets, start of year
- $11,590,292
- Total assets, end of year
- $10,907,316
- Total liabilities, end of year
- $6,070,118
- Net assets, end of year
- $4,837,198
- Land, buildings and equipment
- $6,496,214
- Net assets without donor restrictions
- $4,837,198
- Gross receipts
- $3,448,990
- Employees
- 79
- Volunteers
- 0
- Year formed
- 2004
- State of legal domicile
- GA
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 |
|---|---|---|---|
| ERIK SPEER | BOARD CHAIRMAN Trustee or director | 1 | $0 |
| BRYAN GALAT | DIRECTOR Trustee or director | 1 | $0 |
| CHRISTIAN PITTS | TREASURER Trustee or director | 1 | $0 |
| ALISON LUKE | DIRECTOR Trustee or director | 1 | $0 |
| ANDREW BAINES | VICE CHAIR Trustee or director | 1 | $0 |
| JEANETTE KESSLER | DIRECTOR Trustee or director | 1 | $0 |
| KENN BAKER | DIRECTOR Trustee or director | 1 | $0 |
| FRED BORDERS | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended June 30, 2024: 8 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ERIK SPEER | BOARD CHAIRMAN Trustee or director | 1 | $0 |
| BRYAN GALAT | DIRECTOR Trustee or director | 1 | $0 |
| CHRISTIAN PITTS | TREASURER Trustee or director | 1 | $0 |
| ALISON LUKE | DIRECTOR Trustee or director | 1 | $0 |
| ANDREW BAINES | VICE CHAIR Trustee or director | 1 | $0 |
| JEANETTE KESSLER | DIRECTOR Trustee or director | 1 | $0 |
| KENN BAKER | DIRECTOR Trustee or director | 1 | $0 |
| FRED BORDERS | DIRECTOR Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 3588 HICKORY GROVE RD NW, ACWORTH, GA 30101-3720
- In care of
- % JEANNE BORDERS
- Principal officer (990 for 2024)
- DAVID RAINES, 3588 HICKORY GROVE ROAD, ACWORTH, GA 30101
- Signed the 990
- DAVID RAINES, HEAD OF SCHOOL
- Phone
- (770) 529-7077
- Return prepared by
- NICHOLS CAULEY ADVISORY GROUP LLC
Mission
TO PROVIDE STUDENTS (GRADES K-12) WITH A COMPREHENSIVE COLLEGE-PREPARATORY EDUCATION FROM A CHRISTIAN PERSPECTIVE, DEVELOPING THE STUDENT'S INDEPENDENT STUDY SKILLS, WORK ETHIC AND STUDY HABITS CRITICAL TO COLLEGE STUDENTS.
Program accomplishments
- APPROXIMATELY 500 STUDENTS WERE SERVED AND PROVIDED WITH ELEMENTARY AND/OR SECONDARY SCHOOL EDUCATION - PROVIDED IN CHRISTIAN BASED, PARENT-INVOLVED AND TRADITIONALLY INSTRUCTED CLASSROOM SETTINGS.Expenses $3,034,159 · revenue $3,312,898
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
- 31-1832330
- 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
- 2004
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B20)
- Assets (IRS master file)
- $10,907,316
- Income (IRS master file)
- $3,448,990
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | – | – | – | IRS |
| 990 | June 2024 | – | – | – | IRS |
| 990 | June 2023 | $3,803,234 | $3,631,402 | $11,973,787 | IRS |
| 990 | June 2022 | $3,860,564 | $3,312,152 | $11,938,695 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 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.
Questions about CORNERSTONE PREPARATORY ACADEMY
- What is the EIN of CORNERSTONE PREPARATORY ACADEMY?
- The employer identification number (EIN) of CORNERSTONE PREPARATORY ACADEMY is 31-1832330.
- Is CORNERSTONE PREPARATORY ACADEMY tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2004.
- Are donations to CORNERSTONE PREPARATORY ACADEMY tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does CORNERSTONE PREPARATORY 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 PREPARATORY ACADEMY 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 PREPARATORY ACADEMY 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 PREPARATORY ACADEMY?
- The 990 for the year ended June 30, 2025 names DAVID RAINES.
- Who are the officers and directors of CORNERSTONE PREPARATORY ACADEMY?
- The 990 for the year ended June 30, 2025 lists 8 people; 0 received compensation from the organization.
- How much revenue does CORNERSTONE PREPARATORY ACADEMY have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $3,448,990, expenses of $3,780,636 and total assets of $10,907,316 at year end.
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