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Nonprofiteer
← EDUCATIONQUEST FOUNDATION INC

Form 990 for tax year 2024

Filed by EDUCATIONQUEST FOUNDATION INC.

Totals

Total revenue
$3,724,578
Total expenses
$1,619,580
Contributions and grants received
$2,999,700
Grants paid
$1,577,000
Program service revenue
$712,636
Investment income
$12,242
Other revenue
$0
Total assets, end of year
$14,074,068
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$14,074,068
Program services expenses (Part IX)
$1,577,000
Management and general expenses
$42,580
Fundraising expenses
$0
Program service expenses (Part III)
$1,577,000

Program services were 97.4% 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.

  • 1d · Related organizations

    $2,999,700

  • 2a · Program service revenue: PROGRAM SERVICE INCOME

    total $712,636 · related or exempt $712,636

  • 3 · Investment income

    total $12,242 · excluded $12,242

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,577,000 · program services $1,577,000

  • 11c · Fees: accounting

    total $2,700 · management and general $2,700

  • 11f · Fees: investment management

    total $39,155 · management and general $39,155

  • 13 · Office expenses

    total $725 · management and general $725

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $10,337 · end of year $10,303

  • 2 · Savings and temporary cash investments

    beginning of year $85,760 · end of year $214,857

  • 4 · Accounts receivable

    beginning of year $46,851 · end of year $42,869

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,667 · end of year $1,667

  • 13 · Investments: program-related

    beginning of year $11,828,507 · end of year $13,804,372

  • 27 · Net assets without donor restrictions

    beginning of year $11,973,122 · end of year $14,074,068

Mission and programs · 2024

Mission

IMPROVE ACCESS TO HIGHER EDUCATION IN NEBRASKA.

Activities or mission (Part I)

IMPROVING ACCESS TO HIGHER EDUCATION IN NEBRASKA. THE CORPORATION PARTICIPATES IN ACTIVITIES WHICH ADVANCE EDUCATION IN NEBRASKA INCLUDING THE ACQUISITION OF STUDENT LOAN PORTFOLIOS IN VARIOUS FORMS. THE IRS HAS DETERMINED PURSUANT TO A PRIVATE LETTER RULING DATED 3/31/98 THAT THIS ACTIVITY WILL FURTHER THE CORPORATION'S EXEMPT STATUS UNDER SECTION 501(C)(3).

  • SCHOLARSHIP AWARDS TO STUDENTS ATTENDING QUALIFIED POST-SECONDARY INSTITUTIONS OF HIGHER EDUCATION IN THE STATE OF NEBRASKA (AWARDED BY FORMULA ON AN OBJECTIVE, NONDISCRIMINATORY BASIS).

    Expenses $1,577,000 · Grants $1,577,000 · Revenue $712,636

As filed on the 2024 return.

Listed in Part VII

  • Craig Ames

    CHAIRMAN

    Total calculated
    $18,500
    From this org
    $0
    From related orgs
    $18,500
    Other
    $0
    Hours/week
    1

  • Michael Green

    DIRECTOR

    Total calculated
    $10,750
    From this org
    $0
    From related orgs
    $10,750
    Other
    $0
    Hours/week
    1

  • Wendy Boyer

    DIRECTOR

    Total calculated
    $11,250
    From this org
    $0
    From related orgs
    $11,250
    Other
    $0
    Hours/week
    1

  • Debbie Cooper

    DIRECTOR

    Total calculated
    $10,000
    From this org
    $0
    From related orgs
    $10,000
    Other
    $0
    Hours/week
    1

  • Kelly Leeper

    DIRECTOR

    Total calculated
    $12,000
    From this org
    $0
    From related orgs
    $12,000
    Other
    $0
    Hours/week
    1

  • Thomas Smith

    DIRECTOR

    Total calculated
    $21,000
    From this org
    $0
    From related orgs
    $21,000
    Other
    $0
    Hours/week
    1

  • Elizabeth S Koop

    PRESIDENT/CEO

    Total calculated
    $453,234
    From this org
    $0
    From related orgs
    $389,373
    Other
    $63,861
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $341,845 related
    Bonus
    $0 + $47,000 related
    Other
    $0 + $528 related
    Deferred
    $0 + $38,769 related
    Nontaxable benefits
    $0 + $25,092 related
    Filer's total
    $0 + $453,234 related

  • Jennifer Strand

    DIRECTOR

    Total calculated
    $11,500
    From this org
    $0
    From related orgs
    $11,500
    Other
    $0
    Hours/week
    1

  • Daphne Hall

    SENIOR VICE PRESIDENT

    Total calculated
    $204,764
    From this org
    $0
    From related orgs
    $183,814
    Other
    $20,950
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $163,536 related
    Bonus
    $0 + $19,750 related
    Other
    $0 + $528 related
    Deferred
    $0 + $19,441 related
    Nontaxable benefits
    $0 + $1,509 related
    Filer's total
    $0 + $204,764 related

  • Michael J Timmins

    CFO/SENIOR VICE PRESIDENT

    Total calculated
    $228,403
    From this org
    $0
    From related orgs
    $174,327
    Other
    $54,076
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $173,799 related
    Bonus
    $0
    Other
    $0 + $528 related
    Deferred
    $0 + $39,909 related
    Nontaxable benefits
    $0 + $14,167 related
    Filer's total
    $0 + $228,403 related

  • Eric Drumheller

    VICE PRESIDENT

    Total calculated
    $169,570
    From this org
    $0
    From related orgs
    $127,429
    Other
    $42,141
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $112,751 related
    Bonus
    $0 + $14,000 related
    Other
    $0 + $678 related
    Deferred
    $0 + $27,406 related
    Nontaxable benefits
    $0 + $14,735 related
    Filer's total
    $0 + $169,570 related

  • Regan Anson

    VP OF COMMUNICATION

    Total calculated
    $156,158
    From this org
    $0
    From related orgs
    $123,840
    Other
    $32,318
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $109,662 related
    Bonus
    $0 + $13,500 related
    Other
    $0 + $678 related
    Deferred
    $0 + $17,883 related
    Nontaxable benefits
    $0 + $14,435 related
    Filer's total
    $0 + $156,158 related

  • Jodi Benjamin

    CHIEF FINANCIAL OFFICER

    Total calculated
    $47,442
    From this org
    $0
    From related orgs
    $41,298
    Other
    $6,144
    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. 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

  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 4B
TAX-EXEMPT ELIGIBLE 457B PLAN (PLAN SECTION 1.36(B) ELIZABETH KOOP
PART I LINE 7:
EMPLOYEE'S RECEIVE BONUSES FOR EMPLOYEE PERFORMANCE AGAINST STATED INDIVIDUAL GOALS.

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

The 10 largest by cash amount. The API serves every itemized grant.

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.

Provenance

Return type
form_990
Tax year
2024
Filed
5 August 2026
IRS schema version
2024v5.5
Source object
202622249349302612

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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