Cornerstone University
76% goes to programs $24 to raise $100 Strong reserves Declining revenue
Cornerstone University is a 501(c)(3) organization based in Grand Rapids, Michigan, registered in 1994, with $47,226,279 in FY2024 revenue. CharityIndex grades it B+, and it directs about 76% of spending to programs.
1001 E Beltline Ave Ne, Grand Rapids, MI, 49525 EIN 38-1443369 Since 1994
Revenue (FY2024)
$47.2M
▼ 12.0% vs prior year
Education median: $200K
Expenses (FY2024)
$48.2M
Net assets
$97.7M
Employees
1,117
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B+
BProgram efficiency40% of the rating76% to programs · $24 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Cornerstone University: 76% to programs · $24 to raise $100 earns a B on this criterion. See the exact thresholds →
B+Financial health25% of the rating24 mo reserves · -2% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Cornerstone University: 24 mo reserves · -2% margin earns a B+ on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Cornerstone University: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Cornerstone University: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
Cornerstone university 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.
What they do
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.
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.
Contact & location
- Address
- 1001 E Beltline Ave Ne, Grand Rapids, MI, 49525
- City
- Grand Rapids
- State
- Michigan
- Category
- Education
- Subcategory
- Colleges & Universities
- Phone
- …
- Website
- …
Financial trends
Revenue declined from $63.7M (FY2013) to $47.2M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $8.9MNet assets $97.7M
Operating margin
-2.1%
Spent more than it raised in the latest fiscal year.
Total assets
$106.6M
Total liabilities
$8.9M
Net assets
$97.7M
Salaries & benefits
$24.0M
50% of expenses
Board members
17
16 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $47,226,279▼12.0% | $48,219,533▼12.8% | $97,702,298▼0.1% | $106,631,231▲1.3% | 990 |
| 2023 | $53,639,419▲0.4% | $55,326,488▲3.7% | $97,765,236 | $105,225,637▲0.5% | 990 |
| 2022 | $53,411,196▼10.8% | $53,362,947▼5.0% | $97,767,002▼0.4% | $104,686,388▼3.4% | 990 |
| 2021 | $59,861,010▲3.1% | $56,196,902▲11.9% | $98,183,471▲2.1% | $108,326,203▼0.3% | 990 |
| 2020 | $58,079,674▲4.9% | $50,218,529▼1.7% | $96,119,886▲10.1% | $108,650,867▲6.9% | 990 |
| 2019 | $55,341,460▲2.4% | $51,083,926▼0.9% | $87,312,531▲5.0% | $101,647,008▲1.8% | 990 |
| 2018 | $54,068,050▼15.0% | $51,532,223▼5.1% | $83,131,645▲2.7% | $99,878,742▲3.9% | 990 |
| 2017 | $63,603,179▲1.3% | $54,282,332▼3.8% | $80,946,860▲12.8% | $96,113,221▲3.8% | 990 |
| 2016 | $62,802,645▼4.3% | $56,404,972▼2.5% | $71,780,384▲10.5% | $92,637,829▲3.1% | 990 |
| 2015 | $65,632,400▲8.0% | $57,831,305▲2.5% | $64,951,788▲12.9% | $89,809,530▲6.4% | 990 |
| 2014 | $60,791,206▼4.6% | $56,422,282▲1.1% | $57,533,878▲7.5% | $84,413,235▲9.1% | 990 |
| 2013 | $63,692,790 | $55,824,764▲2.1% | $53,519,504▲18.1% | $77,354,122▲15.1% | 990 |
| 2012 | — | $54,678,080▲5.3% | $45,304,120▲15.6% | $67,206,317▲16.9% | 990 |
| 2011 | — | $51,937,218▲20.5% | $39,185,923▲19.7% | $57,466,414▲11.8% | 990 |
| 2010 | — | $43,117,285 | $32,740,036 | $51,420,330 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Dr Gerson Moreno-riano — $331,836 (0.69% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Dr Gerson Moreno-riano | President | 50 | $331,836 |
| David Veneklase Start 1023 | Vp Finance / Cfo | 50 | $245,406 |
| Heidi Cece | Vp Chief of Staff | 50 | $213,873 |
| Donald King | Vp For Strategic Initiatives | 50 | $177,605 |
| Bradford Sample | Vp For Academics | 50 | $145,016 |
| John Verberkmoes | Sec Dir of Accreditation | 50 | $141,138 |
| Scott Stewart | Controller & Advancement Officer | 50 | $134,655 |
| Misty Emmons | Dean of Health, Science, & Technology | 50 | $128,774 |
| Jonathan Marko | Asst Vp For Academics | 50 | $111,774 |
| Carole Bos | Trustee | 1 | — |
| David Bernd | Trustee | 1 | — |
| David Pray | Trustee, Secretary | 1 | — |
| Douglas Busch | Trustee, Treasurer | 1 | — |
| Dr Albert Meredith | Trustee | 1 | — |
| Drew Martin | Trustee | 1 | — |
| Dr Mark Campbell | Trustee | 1 | — |
| Jeff Baker | Trustee | 1 | — |
| Julian Guzman | Trustee | 1 | — |
| Kelly Miller | Trustee | 1 | — |
| Lee Zuidema | Trustee | 1 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Michigan Software Labs | Software Development | $2,262,560 |
| Google Inc | Advertising | $1,211,803 |
| Slingshot LP | Textbook/mail Service | $947,410 |
| Gordon Food Service | Food Supplier | $786,309 |
| Entheon Institute LLC | Academic Consulting Services | $515,309 |
Grants received · $13.6M total
76 grants to Cornerstone University totaling $13.6M, reported by foundations on their Schedule I filings — showing the 15 most recent.
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Frequently asked questions
- Is Cornerstone University a legitimate nonprofit?
- Yes. Cornerstone University is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 38-1443369, based in Grand Rapids, Michigan. Donations are tax-deductible.
- What is Cornerstone University's EIN?
- Cornerstone University's Employer Identification Number (EIN) is 38-1443369.
- How much revenue does Cornerstone University report?
- Cornerstone University reported $47,226,279 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Cornerstone University's spending goes to programs?
- Cornerstone University spends about 76% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Cornerstone University have?
- CharityIndex grades Cornerstone University B+, based on program efficiency and fundraising cost.
- How much does Cornerstone University's highest-paid employee make?
- The highest reported compensation on Cornerstone University's latest Form 990 is $331,836, paid to Dr Gerson Moreno-riano (President).
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Data for Cornerstone University (EIN 38-1443369) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.