Nonprofit · EIN 38-1443369
CORNERSTONE UNIVERSITY
Tax-exempt · GRAND RAPIDS, MI 49525
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| May 31, 2025 | 990 | $47,226,279 | $48,219,533 | -$993,254 | $106,631,231 | $8,928,933 | $97,702,298 |
| May 31, 2024 | 990 | $53,639,419 | $55,326,488 | -$1,687,069 | $105,225,637 | $7,460,401 | $97,765,236 |
Financial details: 990 for the year ended May 31, 2025
Revenue
- Contributions, gifts and grants
- $5,960,537
- of which government grants
- $208,002
- Program service revenue
- $40,919,480
- Investment income
- $180,017
- Net rental income
- $187,261
- Net gain from sales of assets
- -$378,270
- Net income from fundraising events
- -$21,016
- Other revenue
- $166,245
Expenses
- Grants and similar amounts paid
- $9,930,706
- Compensation of officers, directors and key employees
- $1,101,369
- Other salaries and wages
- $17,502,842
- Salaries, compensation and benefits (total)
- $24,044,064
- Professional fundraising fees
- $105,700
- Legal fees
- $339,088
- Accounting fees
- $63,000
- Occupancy
- $1,308,366
- Travel
- $805,184
- Depreciation
- $3,448,674
- Program services (functional)
- $36,667,071
- Management and general (functional)
- $10,143,436
- Fundraising (functional)
- $1,409,026
Balance sheet and other
- Total assets, start of year
- $105,225,637
- Total assets, end of year
- $106,631,231
- Total liabilities, end of year
- $8,928,933
- Net assets, end of year
- $97,702,298
- Land, buildings and equipment
- $71,465,888
- Publicly traded securities
- $18,691,883
- Net assets without donor restrictions
- $51,581,846
- Net assets with donor restrictions
- $46,120,452
- Gross unrelated business income
- $29,848
- Gross receipts
- $51,762,389
- Employees
- 1,117
- Volunteers
- 170
- Year formed
- 1941
- 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 May 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Dr Gerson Moreno-Riano | President Trustee or director, Officer | 50 | $331,836 | $49,493 |
| Heidi Cece | VP Chief of Staff Officer | 50 | $213,873 | $36,923 |
| David Veneklase Start 1023 | VP Finance / CFO Officer | 50 | $245,406 | $5,176 |
| Scott Stewart | Controller & Advancement Officer Highest-paid employee | 50 | $134,655 | $73,598 |
| Donald King | VP for Strategic Initiatives Highest-paid employee | 50 | $177,605 | $30,242 |
| Bradford Sample | VP for Academics Officer | 50 | $145,016 | $21,125 |
| John VerBerkmoes | Sec Dir of Accreditation Highest-paid employee | 50 | $141,138 | $9,880 |
| Jonathan Marko | Asst VP for Academics Highest-paid employee | 50 | $111,774 | $37,298 |
| Misty Emmons | Dean of Health, Science, & Technology Highest-paid employee | 50 | $128,774 | $8,967 |
| David Pray | Trustee, Secretary Trustee or director, Officer | 1 | $0 | $0 |
| Douglas Busch | Trustee, Treasurer Trustee or director, Officer | 1 | $0 | $0 |
| Lori Cook | Trustee, Vice Chair Trustee or director, Officer | 1 | $0 | $0 |
| Rick Koole | Trustee, Chair Trustee or director, Officer | 1 | $0 | $0 |
| Carole Bos | Trustee Trustee or director | 1 | $0 | $0 |
| David Bernd | Trustee Trustee or director | 1 | $0 | $0 |
10 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Dr Albert Meredith | Trustee Trustee or director | 1 | $0 |
| Dr Mark Campbell | Trustee Trustee or director | 1 | $0 |
| Drew Martin | Trustee Trustee or director | 1 | $0 |
| Jeff Baker | Trustee Trustee or director | 1 | $0 |
| Julian Guzman | Trustee Trustee or director | 1 | $0 |
| Kelly Miller | Trustee Trustee or director | 1 | $0 |
| Lee Zuidema | Trustee Trustee or director | 1 | $0 |
| Nathan Vriesman | Trustee Trustee or director | 1 | $0 |
| Patrina Moseley | Trustee Trustee or director | 1 | $0 |
| Steven Hawks | Trustee Trustee or director | 1 | $0 |
990 for the year ended May 31, 2024: 26 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Dr Gerson Moreno-Riano | President Trustee or director, Officer | 50 | $331,369 | $35,835 |
| Heidi Cece | VP Chief of Staff Officer | 50 | $187,200 | $32,729 |
| Scott Stewart | VP CFO Officer | 50 | $127,983 | $63,549 |
| Neil Cummings | AVP Marketing Highest-paid employee | 50 | $125,490 | $22,759 |
| Bradford Sample | VP for Academics Officer | 50 | $136,236 | $8,932 |
| Robert Sack | VP of Advancement Highest-paid employee | 50 | $113,110 | $21,454 |
| Michael Pasquale | Dean School of Ministry Highest-paid employee | 50 | $106,920 | $24,783 |
| John VerBerkmoes | Sec Dir of Accreditation Highest-paid employee | 50 | $130,090 | $0 |
| Jonathan Greer (End 0923) | Seminary Faculty Highest-paid employee | 50 | $114,100 | $1,022 |
| David Veneklase (Start 1023) | VP Finance / CFO Officer | 50 | $50,037 | $0 |
| David Pray | Trustee, Secretary Trustee or director, Officer | 1 | $0 | $0 |
| Douglas Busch | Trustee, Treasurer Trustee or director, Officer | 1 | $0 | $0 |
| Lori Cook | Trustee, Vice Chair Trustee or director, Officer | 1 | $0 | $0 |
| Rick Koole | Trustee, Chair Trustee or director, Officer | 1 | $0 | $0 |
| Carole Bos | Trustee Trustee or director | 1 | $0 | $0 |
| David Bernd | Trustee Trustee or director | 1 | $0 | $0 |
| Dr Albert Meredith | Trustee Trustee or director | 1 | $0 | $0 |
| Dr Mark Campbell | Trustee Trustee or director | 1 | $0 | $0 |
| Drew Martin | Trustee Trustee or director | 1 | $0 | $0 |
| Jeff Baker | Trustee Trustee or director | 1 | $0 | $0 |
| Julian Guzman | Trustee Trustee or director | 1 | $0 | $0 |
| Kelly Miller | Trustee Trustee or director | 1 | $0 | $0 |
| Lee Zuidema | Trustee Trustee or director | 1 | $0 | $0 |
| Nathan Vriesman | Trustee Trustee or director | 1 | $0 | $0 |
| Patrina Moseley | Trustee Trustee or director | 1 | $0 | $0 |
| Steven Hawks | Trustee Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1001 E BELTLINE AVE NE, GRAND RAPIDS, MI 49525-5803
- In care of
- % CONTROLLER
- Principal officer (990 for 2024)
- Gerson Moreno-Riano, 1001 E Beltline NE, Grand Rapids, MI 49525
- Signed the 990
- David Veneklase, VP for Finance/CFO
- Phone
- (616) 949-5300
- Website
- www.cornerstone.edu
- Return prepared by
- Forvis Mazars LLP
Mission
The University, including Cornerstone Theological Seminary, Asia Biblical Theological Seminary, and radio ministries, exists to empower men and women to excel as influencers in our world for Christ by offering a student focused learning community where Jesus Christ is central.
Program accomplishments
- Academic instruction and academic support make up the educational expenses. The university has over 270 full- and part-time staff and faculty. We have just under 2000 students on a 120-acre campus and online.Expenses $23,339,104 · grants $9,930,706 · revenue $31,691,929
- Student services includes campus life and activities including athletics, health counseling services, enrollment services financial aid, etc. Organized activities include summer sports camps, golf outings, special academic and athletic trips, banquets, and other miscellaneous activities.Expenses $7,883,138 · revenue $514,264
- Auxiliaries include room and board, apartment rentals, hospitality and events, and radio ministries. Cornerstone Radio Ministries includes the operations of five noncommercial radio stations WCSG, Grand Rapids with signals also in Kalamazoo, Benton Harbor and Battle Creek. 3,536,960 is included in contribution revenue on Part VIII, Line 1f.Expenses $5,444,830 · revenue $7,826,140
- Other program servicesrevenue $887,147
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 May, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | May 31, 2026 | October 15, 2026 | Not on file |
| 2024 | May 31, 2025 | October 15, 2025 | 990 on file |
| 2023 | May 31, 2024 | October 15, 2024 | 990 on file |
IRS record
- EIN
- 38-1443369
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- School
- Donations deductible (Pub 78)
- Group exemption
- Exempt since
- 1994
- Accounting year ends
- May
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B430)
- Group exemption
- 5193
- Assets (IRS master file)
- $106,631,231
- Income (IRS master file)
- $51,762,389
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | May 2025 | $47,226,279 | $48,219,533 | $106,631,231 | IRS |
| 990-T | May 2025 | – | – | – | IRS |
| 990 | May 2024 | $53,639,419 | $55,326,488 | $105,225,637 | XML |
| 990-T | May 2024 | – | – | – | IRS |
| 990 | May 2023 | $53,411,196 | $53,362,947 | $104,686,388 | IRS |
| 990-T | May 2023 | – | – | – | IRS |
| 990 | May 2022 | $59,861,010 | $56,196,902 | $108,326,203 | IRS |
| 990-T | May 2022 | – | – | – | IRS |
| 990 | May 2021 | – | – | – | IRS |
| 990-T | May 2021 | – | – | – | IRS |
| 990 | May 2019 | – | – | – | 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 38-1443369).
Questions about CORNERSTONE UNIVERSITY
- What is the EIN of CORNERSTONE UNIVERSITY?
- The employer identification number (EIN) of CORNERSTONE UNIVERSITY is 38-1443369.
- Is CORNERSTONE UNIVERSITY tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1994.
- Are donations to CORNERSTONE UNIVERSITY tax-deductible?
- Yes. It is listed in IRS Publication 78 (Group exemption).
- Which annual return does CORNERSTONE UNIVERSITY 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 UNIVERSITY due?
- The return for tax year 2025 (the year ending May 31, 2026) is due October 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did CORNERSTONE UNIVERSITY last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended May 2025.
- Who is the principal officer of CORNERSTONE UNIVERSITY?
- The 990 for the year ended May 31, 2025 names Gerson Moreno-Riano.
- Who are the officers and directors of CORNERSTONE UNIVERSITY?
- The 990 for the year ended May 31, 2025 lists 25 people; 9 received compensation from the organization, the highest $331,836 (Dr Gerson Moreno-Riano, President).
- How much revenue does CORNERSTONE UNIVERSITY have?
- On its 990 for the year ended May 31, 2025 it reported revenue of $47,226,279, expenses of $48,219,533 and total assets of $106,631,231 at year end.
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