Form 990 for tax year 2022
Filed by QUESTA EDUCATION FOUNDATION INC.
Totals
- Total revenue
- $3,065,583
- Total expenses
- $2,254,031
- Contributions and grants received
- $2,650,391
- Grants paid
- $156,492
- Program service revenue
- $215,205
- Investment income
- $199,987
- Other revenue
- $0
- Total assets, end of year
- $16,624,759
- Total liabilities, end of year
- $300,817
- Net assets or fund balances, end of year
- $16,323,942
- Program services expenses (Part IX)
- $2,098,906
- Management and general expenses
- $98,178
- Fundraising expenses
- $56,947
- Program service expenses (Part III)
- $2,098,906
Program services were 93.1% 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.
-
1f · All other contributions, gifts and grants
$2,650,391
-
2a · Program service revenue: Loan administration fees
total $176,057 · related or exempt $176,057
-
2b · Program service revenue: Loan interest & late fees
total $39,148 · related or exempt $39,148
-
3 · Investment income
total $211,278 · excluded $211,278
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7a · Gross sales of assets other than inventory
securities $3,606,490
-
7b · Less cost or other basis and sales expenses
securities $3,617,781
-
7c · Gain or loss
securities -$11,291
-
7d · Net gain or loss
total -$11,291 · excluded -$11,291
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $156,492 · program services $156,492
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $122,652 · program services $68,338 · management and general $8,716 · fundraising $45,598
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $313,165 · program services $306,465 · fundraising $6,700
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $99,062 · program services $84,413 · management and general $12,890 · fundraising $1,759
-
10 · Payroll taxes
total $39,853 · program services $38,259 · management and general $797 · fundraising $797
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $29,514 · program services $14,864 · management and general $14,650
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $39,910 · management and general $39,910
-
11g · Fees: other
total $3,810 · management and general $3,810
-
12 · Advertising and promotion
total $68,305 · program services $67,991 · management and general $82 · fundraising $232
-
13 · Office expenses
total $22,233 · program services $21,201 · management and general $667 · fundraising $365
-
14 · Information technology
total $37,046 · program services $35,564 · management and general $1,111 · fundraising $371
-
15 · Royalties
total $0
-
16 · Occupancy
total $27,754 · program services $26,921 · management and general $833
-
17 · Travel
total $3,588 · program services $2,871 · management and general $179 · fundraising $538
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $39,374 · program services $31,499 · management and general $7,875
-
23 · Insurance
total $1,335 · management and general $1,335
-
24a · Other expenses: Loan Forgiveness
total $1,141,891 · program services $1,141,891
-
24b · Other expenses: Bad Debt Expense
total $98,947 · program services $98,947
-
24c · Other expenses: Miscellaneous Expense
total $9,100 · program services $3,190 · management and general $5,323 · fundraising $587
-
24e · All other expenses
total $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,083,823 · end of year $1,907,219
-
2 · Savings and temporary cash investments
end of year $0
-
3 · Pledges and grants receivable
beginning of year $927,488 · end of year $1,253,955
-
4 · Accounts receivable
beginning of year $3,402,209 · end of year $3,485,382
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $21,532 · end of year $34,688
-
10a · Land, buildings and equipment: cost or other basis
$593,915
-
10b · Land, buildings and equipment: accumulated depreciation
$277,591
-
10c · Land, buildings and equipment, net
beginning of year $83,041 · end of year $316,324
-
11 · Investments: publicly traded securities
beginning of year $8,388,206 · end of year $8,619,204
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
beginning of year $145,613 · end of year $1,007,987
-
17 · Accounts payable and accrued expenses
beginning of year $20,934 · end of year $39,013
-
19 · Deferred revenue
beginning of year $113,856 · end of year $104,964
-
25 · Other liabilities
end of year $156,840
-
27 · Net assets without donor restrictions
beginning of year $9,689,697 · end of year $9,756,687
-
28 · Net assets with donor restrictions
beginning of year $5,227,425 · end of year $6,567,255
Mission and programs · 2022
Mission
Questa Education Foundation helps individuals access post-secondary education, graduate with less debt, and become contributing members of Northeast Indianas workforce.
-
Questa Education Foundation administers the following loan and scholarship programs:During fiscal year 2023, Questa Foundation provided over $1,974,632 in Questa Scholars loans to 439 students from Adams, Allen, DeKalb, Huntington, Kosciuscko, LaGrange, Noble, Steuben, Wabash, Wells and Whitley counties attending college. Students in the Questa Scholars Program are typically eligible to borrow up to $20,000 over four years ($2,500 per semester for up to $5,000 per academic year) for college. Students who graduate college and meet certain residency and employment requirements in northeast Indiana for 1 - 5 years after college typically become eligible to have 50% - 100% of the principal loan balance forgiven over the five years. Please see Schedule O for further information.
Expenses $1,934,990 · Revenue $39,148
-
Questa Education Foundation administers the following grant and scholarship programs: The Venette and Mabel Sites Grant assists current students with financial need who graduated from public Allen County high schools who are in the Questa Scholars Program. Grants are applied to a student's current Questa loan balance and assist with paying down a student's debt. Awards are made based upon academic performance and financial need. Fifty-seven (57) students received $83,000 in Sites scholarship awards during the fiscal year. Please see Schedule O for further information on additional scholarships and grants.
Expenses $163,916 · Grants $156,492 · Revenue $176,057
As filed on the 2022 return.
Listed in Part VII
-
Elizabeth Bushnell PhD
Executive Dir.
- Total calculated
- $124,437
- From this org
- $119,000
- From related orgs
- $0
- Other
- $5,437
- Hours/week
- 40
-
Emily E Pichon JD
Chairman
- Total calculated
- $0
- Hours/week
- 2
-
Ian Boyce CFP
Vice Chairman
- Total calculated
- $0
- Hours/week
- 1
-
Todd Jones CIC
Secretary
- Total calculated
- $0
- Hours/week
- 1
-
Derek Lamle CPA
Treasurer
- Total calculated
- $0
- Hours/week
- 1
-
JoAnne Alvarez EdD
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Allyn P Decker PhD
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Shenita Bolton M ED
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Erin LaCross DNP RN
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Pete Van Baalen
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Edmond O'Neal
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Dave Haist JD
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
James Cashman
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Daniel Solms
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Denice Beights
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Phil Downs PhD
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Brok Lahrman
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Stepanie Veit
Director
- Total calculated
- $0
- Hours/week
- 0.5
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
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 19 December 2023
- IRS schema version
- 2022v5.0
- Source object
- 202313539349300816
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