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Nonprofiteer
← QUEST FORWARD ACADEMY INC

Form 990 for tax year 2022

Filed by QUEST FORWARD ACADEMY INC.

Totals

Total revenue
$7,494,709
Total expenses
$5,676,592
Contributions and grants received
$6,665,000
Grants paid
$0
Program service revenue
$797,902
Investment income
$31,807
Other revenue
$0
Total assets, end of year
$4,229,896
Total liabilities, end of year
$78,787
Net assets or fund balances, end of year
$4,151,109
Program services expenses (Part IX)
$5,652,485
Management and general expenses
$24,107
Fundraising expenses
$0
Program service expenses (Part III)
$5,652,485

Program services were 99.6% 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

    $6,665,000

  • 2a · Program service revenue: Tuition

    total $797,902 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $31,807 · unrelated business $0 · excluded $31,807

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $367,008 · program services $367,008 · management and general $0 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $2,655,822 · program services $2,655,822 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $15,024 · program services $15,024 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $227,532 · program services $227,532 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $226,067 · program services $226,067 · management and general $0 · fundraising $0

  • 11a · Fees: management

    total $207,383 · program services $207,383 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $1,541 · program services $0 · management and general $1,541 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 12 · Advertising and promotion

    total $198,309 · program services $198,309 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $65,885 · program services $65,885 · management and general $0 · fundraising $0

  • 14 · Information technology

    total $8,610 · program services $8,610 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $890,138 · program services $890,138 · management and general $0 · fundraising $0

  • 17 · Travel

    total $7,917 · program services $7,917 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $243,089 · program services $243,089 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $98,238 · program services $98,238 · management and general $0 · fundraising $0

  • 24a · Other expenses: Bus and Field Trips

    total $229,661 · program services $229,661 · management and general $0 · fundraising $0

  • 24b · Other expenses: Supplies

    total $67,774 · program services $67,774 · management and general $0 · fundraising $0

  • 24c · Other expenses: Student Meals

    total $49,443 · program services $49,443 · management and general $0 · fundraising $0

  • 24d · Other expenses: Equipment

    total $25,285 · program services $25,285 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $91,866 · program services $69,300 · management and general $22,566 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $170,894 · end of year $29,610

  • 2 · Savings and temporary cash investments

    beginning of year $100,289 · end of year $2,187,772

  • 4 · Accounts receivable

    beginning of year $3,278 · end of year $0

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

    $3,138,505

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

    $1,125,991

  • 10c · Land, buildings and equipment, net

    beginning of year $2,220,649 · end of year $2,012,514

  • 15 · Other assets

    beginning of year $5,091

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,718 · end of year $1,680

  • 25 · Other liabilities

    beginning of year $95,618 · end of year $77,107

  • 27 · Net assets without donor restrictions

    beginning of year $2,400,865 · end of year $4,151,109

Mission and programs · 2022

Mission

Operation of private secondary school(s).

  • Revenues are tuition fees collected from students. Expenses relate to on=going operating expense of owning and operating two secondary schools include such expenses as teacher and administration payroll, occupany, insurance and regulatory compliance expenses.

    Expenses $5,652,485 · Grants $600 · Revenue $797,902

As filed on the 2022 return.

Listed in Part VII

  • J Joe Ricketts

    Director and CEO

    Total calculated
    $0
    Hours/week
    1

  • Alfred Levitt

    President and General Counsel

    Total calculated
    $0
    Hours/week
    1

  • Ray Ravaglia

    Chief Learning Officer

    Total calculated
    $387,630
    From this org
    $0
    From related orgs
    $387,630
    Other
    $0
    Hours/week
    17

    Schedule J breakdown matched by us

    Base
    $0 + $387,630 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $387,630 related

  • Michael Brown

    Director QF Omaha

    Total calculated
    $200,681
    From this org
    $194,465
    From related orgs
    $0
    Other
    $6,216
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $194,465
    Bonus
    $0
    Other
    $0
    Deferred
    $6,216
    Nontaxable benefits
    $162
    Filer's total
    $200,843

  • Sheri Simpson

    Director QF Santa Rosa

    Total calculated
    $167,327
    From this org
    $162,307
    From related orgs
    $0
    Other
    $5,020
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $162,307
    Bonus
    $0
    Other
    $0
    Deferred
    $5,020
    Nontaxable benefits
    $1,602
    Filer's total
    $168,929

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Pt I Line 1a
Employees who provide evidence of health club membership recieve a taxable fringe benefit of $100/year to defray the cost of such membership.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • Hugo Enteprises LLC

    Unrelated · Holding company · NE · 0% owned · share of income $0 · share of assets $0

    Directly controlled by J Joe Ricketts

  • JJR Enterprises LLC

    Unrelated · Holding company · NE · 0% owned · share of income $0 · share of assets $0

    Directly controlled by J Joe Ricketts

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • HE Management Company

    S · Holding company · DE · 0% owned · share of income $0 · share of assets $0

    Directly controlled by No

Provenance

Return type
form_990
Tax year
2022
Filed
12 May 2024
IRS schema version
2022v5.0
Source object
202441339349301209

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