Nonprofit · EIN 59-2217451
THE CORNERSTONE SCHOOL INC
Tax-exempt · OCALA, FL 34471
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $5,487,796 | $4,677,108 | $810,688 | $8,872,428 | $2,971,805 | $5,900,623 |
| June 30, 2024 | 990 | $4,894,554 | $4,179,923 | $714,631 | $7,997,721 | $2,931,200 | $5,066,521 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $318,837
- Program service revenue
- $5,009,351
- Investment income
- $90,154
- Net gain from sales of assets
- -$2,072
- Net income from fundraising events
- $65,906
- Other revenue
- $69,454
Expenses
- Grants and similar amounts paid
- $98,451
- Compensation of officers, directors and key employees
- $246,203
- Other salaries and wages
- $2,425,461
- Salaries, compensation and benefits (total)
- $3,074,274
- Professional fundraising fees
- $0
- Legal fees
- $14,752
- Accounting fees
- $28,462
- Occupancy
- $341,443
- Depreciation
- $230,485
- Program services (functional)
- $3,157,790
- Management and general (functional)
- $1,519,318
Balance sheet and other
- Total assets, start of year
- $7,997,721
- Total assets, end of year
- $8,872,428
- Total liabilities, end of year
- $2,971,805
- Net assets, end of year
- $5,900,623
- Land, buildings and equipment
- $4,241,802
- Publicly traded securities
- $2,183,588
- Net assets without donor restrictions
- $5,898,123
- Net assets with donor restrictions
- $2,500
- Gross receipts
- $5,558,153
- Employees
- 103
- Volunteers
- 220
- Year formed
- 1982
- State of legal domicile
- FL
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 | Other / benefits |
|---|---|---|---|---|
| INGRID WASSERFALL | DIRECTOR OF SCHOOL Officer | 60 | $224,084 | $7,436 |
| ARA MANOOGIAN | PRESIDENT Trustee or director, Officer | 10 | $0 | $0 |
| ROBERT DAVIES | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| ROBERT ALTMAN | VICE PRESIDENT Trustee or director, Officer | 2 | $0 | $0 |
| DAVID MARTIN | CHAIR OF GOVERNANCE Trustee or director | 1 | $0 | $0 |
| CARA WIECHENS | CHAIR OF DEVELOPMENT Trustee or director | 0.2 | $0 | $0 |
| DARYLE GREEN | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 |
| DANE SCHLINSKY | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| REBECCA GUTHRIE | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| SALLY WATERS | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| KEVIN KEEN | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 |
| JOE JONES | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| JEFF MANTZ | BOARD MEMBER Trustee or director | 4 | $0 | $0 |
| SHANNON SCHAEFFER | BOARD MEMBER Trustee or director | 3 | $0 | $0 |
| SONJA NASSER | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
990 for the year ended June 30, 2024: 17 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| INGRID WASSERFALL | DIRECTOR OF Officer | 65 | $193,201 | $6,876 |
| BONNIE FARR | EXITING PRES Trustee or director, Officer | 1.5 | $0 | $0 |
| ARA MANOOGIAN | PRESIDENT Trustee or director, Officer | 1.5 | $0 | $0 |
| ROBERT DAVIES | TREASURER Trustee or director, Officer | 1.5 | $0 | $0 |
| ROBERT ALTMAN | VICE PRESIDE Trustee or director, Officer | 1.5 | $0 | $0 |
| DAVID MARTIN | CHAIR OF GOV Trustee or director | 1.5 | $0 | $0 |
| CARA WIECHENS | CHAIR OF DEV Trustee or director | 1.5 | $0 | $0 |
| DARYLE GREEN | BOARD MEMBER Trustee or director | 1.5 | $0 | $0 |
| AMY PITTMAN | BOARD MEMBER Trustee or director | 1.5 | $0 | $0 |
| DANE SCHLINSKY | BOARD MEMBER Trustee or director | 1.5 | $0 | $0 |
| JEFF GOLD | BOARD MEMBER Trustee or director | 1.5 | $0 | $0 |
| REBECCA GUTHRIE | BOARD MEMBER Trustee or director | 1.5 | $0 | $0 |
| SALLY WATERS | SECRETARY Trustee or director, Officer | 1.5 | $0 | $0 |
| KEVIN KEEN | EXITING BOAR Trustee or director | 1.5 | $0 | $0 |
| JOE JONES | BOARD MEMBER Trustee or director | 1.5 | $0 | $0 |
| JEFF MANTZ | BOARD MEMBER Trustee or director | 1.5 | $0 | $0 |
| SHANNON SHAELFFER | BOARD MEMBER Trustee or director | 1.5 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 2313 SE LAKE WEIR AVE, OCALA, FL 34471-5434
- Principal officer (990 for 2024)
- INGRID WASSERFALL, 2313 SE LAKE WEIR AVENUE, OCALA, FL 34471
- Signed the 990
- ARA MANOOGIAN, PRESIDENT
- Phone
- (352) 351-8840
- Return prepared by
- PURVIS GRAY & COMPANY LLP
Mission
WE PREPARE STUDENTS FOR SUCCESS IN AN EVER-CHANGING WORLD THROUGH AN INNOVATIVE CURRICULUM AND INSPRIATIONAL TEACHING THAT DEVELOPS A PASSION FOR LEARNING.
Program accomplishments
- TO PROVIDE A PRIVATE EDUCATIONAL ENVIRONMENT FOR PRESCHOOL THROUGH MIDDLE SCHOOL AGED CHILDREN. THE SCHOOL SERVES APPROXIMATELY 309 STUDENTS.Expenses $3,157,790 · grants $98,451 · revenue $5,009,351
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
- 59-2217451
- 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
- 1983
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $8,872,428
- Income (IRS master file)
- $5,558,153
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | – | – | – | IRS |
| 990 | June 2024 | – | – | – | IRS |
| 990 | June 2023 | $4,181,785 | $3,619,633 | $6,804,505 | IRS |
| 990 | June 2022 | $3,668,998 | $3,213,932 | $6,647,373 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | 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 THE CORNERSTONE SCHOOL INC
- What is the EIN of THE CORNERSTONE SCHOOL INC?
- The employer identification number (EIN) of THE CORNERSTONE SCHOOL INC is 59-2217451.
- Is THE CORNERSTONE SCHOOL INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1983.
- Are donations to THE CORNERSTONE SCHOOL INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does THE CORNERSTONE SCHOOL INC 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 THE CORNERSTONE SCHOOL INC 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 THE CORNERSTONE SCHOOL INC 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 THE CORNERSTONE SCHOOL INC?
- The 990 for the year ended June 30, 2025 names INGRID WASSERFALL.
- Who are the officers and directors of THE CORNERSTONE SCHOOL INC?
- The 990 for the year ended June 30, 2025 lists 15 people; 1 received compensation from the organization, the highest $224,084 (INGRID WASSERFALL, DIRECTOR OF SCHOOL).
- How much revenue does THE CORNERSTONE SCHOOL INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $5,487,796, expenses of $4,677,108 and total assets of $8,872,428 at year end.
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