Cornerstone Academy Inc in Los Angeles, California (CA)

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Cornerstone Academy Inc
Employer Identification Number (EIN)770547474
Name of OrganizationCornerstone Academy Inc
In Care of NameJacinda S Herrera
Address7651 S Central Ave, Los Angeles, CA 90001-2945
SubsectionCharitable Organization
Ruling Date12/2000
DeductibilityContributions are not deductible
FoundationSchool
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2011
Assets$500,000 to $999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$514,019
Amount of Income$2,106,869
Form 990 Revenue Amount$2,106,869


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Financial snapshot ($)

Functional expenses for 2011

Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2011)
Total revenue$2,106,869
Contributions, Gifts, Grants and Other Similar Amounts$2,106,869
Program Service Revenue$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$0
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net gain from sales of assets other than inventory$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$0
Statement of Functional Expenses (for 2011)
Total functional expenses$2,295,403
Compensation of current officers, directors, trustees, and key employees$15,000
Other salaries and wages$1,055,974
Payroll taxes$29,681
Professional fundraising services$0
Other$1,194,748
Balance Sheet (for 2011)
Total assets$514,019
Total liabilities$230,078
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$0
Other$230,078
Total net assets or fund balances$283,941
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2011)
The organization is not a private foundation because it is:A school described in section 170(b)(1)(A)(ii)
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