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Nonprofiteer
← QUEST ACADEMY INC

Form 990 for tax year 2023

Filed by QUEST ACADEMY INC.

Totals

Total revenue
$1,617,091
Total expenses
$1,383,202
Contributions and grants received
$1,617,091
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$2,956,093
Total liabilities, end of year
$10,061
Net assets or fund balances, end of year
$2,946,032
Program services expenses (Part IX)
$1,081,389
Management and general expenses
$301,813
Fundraising expenses
$0
Program service expenses (Part III)
$1,081,389

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)

    $1,617,091

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $92,863 · program services $92,863

  • 7 · Other salaries and wages

    total $794,462 · program services $728,733 · management and general $65,729

  • 9 · Other employee benefits

    total $65,776 · program services $65,776

  • 10 · Payroll taxes

    total $64,439 · program services $53,485 · management and general $10,954

  • 11b · Fees: legal

    total $600 · program services $300 · management and general $300

  • 11c · Fees: accounting

    total $12,000 · program services $6,000 · management and general $6,000

  • 12 · Advertising and promotion

    total $457 · management and general $457

  • 13 · Office expenses

    total $14,000 · program services $9,767 · management and general $4,233

  • 17 · Travel

    total $196 · program services $196

  • 22 · Depreciation, depletion and amortization

    total $88,778 · program services $22,195 · management and general $66,583

  • 23 · Insurance

    total $13,681 · management and general $13,681

  • 24a · Other expenses: CONTRACTED SERVICES

    total $97,902 · program services $7,442 · management and general $90,460

  • 24b · Other expenses: SUPPLIES

    total $57,051 · program services $48,824 · management and general $8,227

  • 24c · Other expenses: NON-CAPITALIZED EQUIPME

    total $29,634 · program services $7,489 · management and general $22,145

  • 24d · Other expenses: UTILITIES

    total $27,960 · program services $25,164 · management and general $2,796

  • 24e · All other expenses

    total $23,403 · program services $13,155 · management and general $10,248

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,001,111 · end of year $1,117,088

  • 4 · Accounts receivable

    beginning of year $4,338 · end of year $6,447

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,925 · end of year $17,426

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

    $3,209,906

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

    $1,394,774

  • 10c · Land, buildings and equipment, net

    beginning of year $1,767,244 · end of year $1,815,132

  • 17 · Accounts payable and accrued expenses

    beginning of year $65,475 · end of year $10,061

  • 27 · Net assets without donor restrictions

    beginning of year $2,712,143 · end of year $2,946,032

Mission and programs · 2023

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 $1,081,389

As filed on the 2023 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

  • Ben Wetzel

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • John Watson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Libby Emswiler

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Loren Hatfield

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Tammy Vinson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Elizabeth Readmond

    ADMINISTRATOR

    Total calculated
    $92,863
    From this org
    $92,863
    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
2023
Filed
3 February 2025
IRS schema version
2023v6.0
Source object
202510349349301691

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