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Nonprofiteer
← QUEST ACADEMY INC

Form 990 for tax year 2024

Filed by QUEST ACADEMY INC.

Totals

Total revenue
$1,750,421
Total expenses
$1,447,788
Contributions and grants received
$1,699,411
Grants paid
$0
Program service revenue
$0
Investment income
$39,724
Other revenue
$11,286
Total assets, end of year
$3,254,512
Total liabilities, end of year
$5,847
Net assets or fund balances, end of year
$3,248,665
Program services expenses (Part IX)
$1,132,132
Management and general expenses
$315,656
Fundraising expenses
$0
Program service expenses (Part III)
$1,132,132

Program services were 78.2% 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)

    $1,634,239

  • 1f · All other contributions, gifts and grants

    $65,172

  • 3 · Investment income

    total $39,724 · excluded $39,724

  • 11a · Other revenue: MISCELLANEOUS

    total $11,286 · related or exempt $11,286

  • 11e · Other revenue, total

    $11,286

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $97,575 · program services $97,575

  • 7 · Other salaries and wages

    total $813,057 · program services $725,395 · management and general $87,662

  • 8 · Pension plan contributions

    total $31,822 · program services $31,822

  • 9 · Other employee benefits

    total $53,621 · program services $53,621

  • 10 · Payroll taxes

    total $65,576 · program services $58,375 · management and general $7,201

  • 11b · Fees: legal

    total $890 · program services $445 · management and general $445

  • 11c · Fees: accounting

    total $13,000 · program services $6,500 · management and general $6,500

  • 13 · Office expenses

    total $11,024 · program services $6,928 · management and general $4,096

  • 17 · Travel

    total $134 · management and general $134

  • 22 · Depreciation, depletion and amortization

    total $91,165 · program services $22,791 · management and general $68,374

  • 23 · Insurance

    total $23,175 · program services $3,821 · management and general $19,354

  • 24a · Other expenses: CONTRACTED SERVICES

    total $93,563 · program services $5,611 · management and general $87,952

  • 24b · Other expenses: SUPPLIES

    total $41,384 · program services $25,345 · management and general $16,039

  • 24c · Other expenses: NON-CAPITALIZED EQUIPME

    total $39,223 · program services $39,223

  • 24d · Other expenses: CLEANING/MAINTENANCE

    total $25,977 · program services $23,379 · management and general $2,598

  • 24e · All other expenses

    total $46,602 · program services $31,301 · management and general $15,301

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,117,088 · end of year $1,394,168

  • 4 · Accounts receivable

    beginning of year $6,447 · end of year $10,567

  • 9 · Prepaid expenses and deferred charges

    beginning of year $17,426 · end of year $9,533

  • 10a · Land, buildings and equipment: cost or other basis

    $3,326,181

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,485,937

  • 10c · Land, buildings and equipment, net

    beginning of year $1,815,132 · end of year $1,840,244

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,061 · end of year $5,847

  • 27 · Net assets without donor restrictions

    beginning of year $2,946,032 · end of year $3,248,665

Mission and programs · 2024

Mission

PUBLIC CHARTER SCHEDULE PROVIDING EDUCATION OF STUDENTS IN GRADES K-8.

Activities or mission (Part I)

PUBLIC CHARTER SCHOOL PROVIDING EDUCATION OF STUDENTS IN GRADES K-8.

  • OPERATED AS A CHARTER SCHOOL IN RALEIGH, NC SERVING APPROXIMATELY 140 STUDENTS

    Expenses $1,132,132 · Revenue $11,286

As filed on the 2024 return.

Listed in Part VII

  • Brock Lavrack

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    2

  • John Medicke

    ASST BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Brian Grant

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Erica Schnars

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Kathy Davies

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Memory White

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Elizabeth Readmond

    ADMINISTRATOR

    Total calculated
    $97,575
    From this org
    $97,575
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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
2024
Filed
12 February 2026
IRS schema version
2024v5.5
Source object
202640439349300414

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