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← SOUTH CAROLINA QUANTUM ASSOCIATION

Form 990 for tax year 2023

Filed by SOUTH CAROLINA QUANTUM ASSOCIATION.

Totals

Total revenue
$928,945
Total expenses
$873,519
Contributions and grants received
$880,245
Grants paid
$500,000
Program service revenue
$0
Investment income
$48,700
Other revenue
$0
Total assets, end of year
$14,362,488
Total liabilities, end of year
$14,244,745
Net assets or fund balances, end of year
$117,743
Program services expenses (Part IX)
$717,153
Management and general expenses
$117,080
Fundraising expenses
$39,286
Program service expenses (Part III)
$717,153

Program services were 82.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $872,745

  • 1f · All other contributions, gifts and grants

    $7,500

  • 3 · Investment income

    total $46,849 · excluded $46,849

  • 7a · Gross sales of assets other than inventory

    securities $10,100,783

  • 7b · Less cost or other basis and sales expenses

    securities $10,098,932

  • 7c · Gain or loss

    securities $1,851

  • 7d · Net gain or loss

    total $1,851 · excluded $1,851

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $500,000 · program services $500,000

  • 5 · Compensation of officers, directors and key employees

    total $131,250 · program services $131,250

  • 11b · Fees: legal

    total $27,485 · program services $7,044 · management and general $20,441

  • 11c · Fees: accounting

    total $14,038 · management and general $14,038

  • 11g · Fees: other

    total $186,895 · program services $78,859 · management and general $68,750 · fundraising $39,286

  • 12 · Advertising and promotion

    total $1,217 · management and general $1,217

  • 13 · Office expenses

    total $371 · management and general $371

  • 14 · Information technology

    total $2,057 · management and general $2,057

  • 16 · Occupancy

    total $3,000 · management and general $3,000

  • 17 · Travel

    total $3,467 · management and general $3,467

  • 19 · Conferences, conventions and meetings

    total $1,280 · management and general $1,280

  • 20 · Interest

    total $775 · management and general $775

  • 23 · Insurance

    total $720 · management and general $720

  • 24a · Other expenses: BANK FEES

    total $823 · management and general $823

  • 24b · Other expenses: RESEARCH EXPENSES

    total $141 · management and general $141

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $175 · end of year $1,041,899

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $3,190,128

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $51,438

  • 11 · Investments: publicly traded securities

    end of year $10,048,223

  • 14 · Intangible assets

    beginning of year $0 · end of year $29,300

  • 15 · Other assets

    beginning of year $0 · end of year $1,500

  • 17 · Accounts payable and accrued expenses

    end of year $91,990

  • 19 · Deferred revenue

    end of year $14,127,255

  • 23 · Secured mortgages and notes payable

    end of year $25,500

  • 27 · Net assets without donor restrictions

    beginning of year $175 · end of year $110,243

  • 28 · Net assets with donor restrictions

    end of year $7,500

Mission and programs · 2023

Mission

SOUTH CAROLINA QUANTUM ASSOCIATION'S (SCQA) MISSION IS TO CHAMPION THE ADVANCEMENT OF QUANTUM TALENT AND TECHNOLOGY IN SOUTH CAROLINA.

  • EDUCATION (CURRICULUM, TRAINING AND WORKFORCE DEVELOPMENT):THE ORGANIZATION PLANS TO COLLABORATE WITH LEADING TECHNOLOGY PARTNERS TO USE AND DISSEMINATE THEIR QUANTUM PEDAGOGY IN HIGH-SCHOOL AND UNIVERSITY CLASSROOMS TO HELP BUILD, EDUCATE, AND SUPPORT AN INCLUSIVE QUANTUM-SMART WORKFORCE. IT IS FURTHER ANTICIPATED THAT THE ORGANIZATION COULD PROVIDE HIGH-LEVEL ONLINE QUANTUM EDUCATION RESOURCE(S) FOR THE PUBLIC.

    Expenses $578,021 · Grants $500,000

  • RESEARCH (AND STARTUP SUPPORT):WE ENCOURAGE PARTNER RESEARCHERS AND EDUCATORS TO SHARE SCHOLARLY RESEARCH ON THEIR FINDINGS.

    Expenses $65,566

  • DISSEMINATION (AND CONVENING):BRING AWARENESS TO THE ORGANIZATION'S MISSION FROM EVERY MEDIUM POSSIBLE AND THIS DOES NOT EXCLUDE DOCUMENTARIES AND PHOTOS OF OUR ACTIVITIES, PROJECTS, PROGRAMS, AND EXPEDITIONS.

    Expenses $73,566

As filed on the 2023 return.

Listed in Part VII

  • Joe Queenan

    PRESIDENT, EXEC. DIRECTOR, CHAIR

    Total calculated
    $131,250
    From this org
    $131,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

  • Chris Heivly

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Aaron Taylor

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

Provenance

Return type
form_990
Tax year
2023
Filed
7 November 2024
IRS schema version
2023v5.1
Source object
202403139349301000

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