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Nonprofiteer
← SOUTH CAROLINA QUANTUM ASSOCIATION

Form 990 for tax year 2024

Filed by SOUTH CAROLINA QUANTUM ASSOCIATION.

Totals

Total revenue
$4,919,661
Total expenses
$3,563,530
Contributions and grants received
$4,429,314
Grants paid
$281,700
Program service revenue
$0
Investment income
$490,347
Other revenue
$0
Total assets, end of year
$11,268,986
Total liabilities, end of year
$9,740,619
Net assets or fund balances, end of year
$1,528,367
Program services expenses (Part IX)
$2,431,219
Management and general expenses
$872,861
Fundraising expenses
$259,450
Program service expenses (Part III)
$2,431,219

Program services were 68.2% 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)

    $4,409,614

  • 1f · All other contributions, gifts and grants

    $19,700

  • 3 · Investment income

    total $490,347 · excluded $490,347

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $281,700 · program services $281,700

  • 5 · Compensation of officers, directors and key employees

    total $1,078,522 · program services $493,560 · management and general $483,626 · fundraising $101,336

  • 8 · Pension plan contributions

    total $27,931 · program services $13,264 · management and general $11,724 · fundraising $2,943

  • 9 · Other employee benefits

    total $14,349 · management and general $14,349

  • 10 · Payroll taxes

    total $74,162 · program services $34,505 · management and general $32,624 · fundraising $7,033

  • 11b · Fees: legal

    total $28,842 · program services $9,823 · management and general $19,019

  • 11c · Fees: accounting

    total $66,728 · management and general $66,728

  • 11g · Fees: other

    total $1,421,118 · program services $1,219,278 · management and general $85,111 · fundraising $116,729

  • 12 · Advertising and promotion

    total $173,273 · program services $120,092 · management and general $28,234 · fundraising $24,947

  • 13 · Office expenses

    total $24,173 · program services $5,199 · management and general $18,911 · fundraising $63

  • 14 · Information technology

    total $6,475 · program services $1,384 · management and general $4,860 · fundraising $231

  • 16 · Occupancy

    total $44,030 · management and general $44,030

  • 17 · Travel

    total $54,024 · program services $15,663 · management and general $36,387 · fundraising $1,974

  • 19 · Conferences, conventions and meetings

    total $4,244 · program services $2,667 · management and general $1,368 · fundraising $209

  • 20 · Interest

    total $283 · management and general $283

  • 22 · Depreciation, depletion and amortization

    total $47,845 · program services $23,911 · management and general $19,949 · fundraising $3,985

  • 23 · Insurance

    total $2,161 · management and general $2,161

  • 24a · Other expenses: QUANTUM EVENTS

    total $188,473 · program services $188,473

  • 24b · Other expenses: DUES AND SUBSCRIPTIONS

    total $13,261 · program services $10,000 · management and general $3,261

  • 24c · Other expenses: SPON. (QUANTUM CONF.)

    total $11,700 · program services $11,700

  • 24d · Other expenses: BOARD EXPENSES

    total $236 · management and general $236

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,041,899 · end of year $64,503

  • 2 · Savings and temporary cash investments

    beginning of year $3,190,128 · end of year $206,499

  • 9 · Prepaid expenses and deferred charges

    beginning of year $51,438 · end of year $48,748

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

    $11,666

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

    $1,437

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $10,229

  • 11 · Investments: publicly traded securities

    beginning of year $10,048,223 · end of year $10,126,470

  • 14 · Intangible assets

    beginning of year $29,300 · end of year $615,587

  • 15 · Other assets

    beginning of year $1,500 · end of year $196,950

  • 17 · Accounts payable and accrued expenses

    beginning of year $91,990 · end of year $22,978

  • 19 · Deferred revenue

    beginning of year $14,127,255 · end of year $9,717,641

  • 23 · Secured mortgages and notes payable

    beginning of year $25,500 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $110,243 · end of year $1,527,567

  • 28 · Net assets with donor restrictions

    beginning of year $7,500 · end of year $800

Mission and programs · 2024

Mission

SOUTH CAROLINA QUANTUM ASSOCIATION'S (SCQA) MISSION IS TO CHAMPION THE ADVANCEMENT OF QUANTUM TALENT AND TECHNOLOGY IN SOUTH CAROLINA.

  • EDUCATION (CURRICULUM, TRAINING AND WORKFORCE DEVELOPMENT):THE ORGANIZATION PLANS TO COLLABORATE WITH LEADING TECHNOLOGY PARTNERS TO USE AND DISSEMINATE THEIR QUANTUM PEDAGOGY IN HIGH-SCHOOL AND UNIVERSITY CLASSROOMS TO HELP BUILD, EDUCATE, AND SUPPORT AN INCLUSIVE QUANTUM-SMART WORKFORCE. IT IS FURTHER ANTICIPATED THAT THE ORGANIZATION COULD PROVIDE HIGH-LEVEL ONLINE QUANTUM EDUCATION RESOURCE(S) FOR THE PUBLIC.

    Expenses $1,102,027 · Grants $281,700

  • RESEARCH (AND STARTUP SUPPORT):WE ENCOURAGE PARTNER RESEARCHERS AND EDUCATORS TO SHARE SCHOLARLY RESEARCH ON THEIR FINDINGS.

    Expenses $704,623

  • DISSEMINATION (AND CONVENING):BRING AWARENESS TO THE ORGANIZATION'S MISSION FROM EVERY MEDIUM POSSIBLE AND THIS DOES NOT EXCLUDE DOCUMENTARIES AND PHOTOS OF OUR ACTIVITIES, PROJECTS, PROGRAMS, AND EXPEDITIONS.

    Expenses $624,569

As filed on the 2024 return.

Listed in Part VII

  • Curtis Lee

    SECRETARY

    Total calculated
    $20,000
    From this org
    $20,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Dr Joan Marler

    DIRECTOR

    Total calculated
    $20,000
    From this org
    $20,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Chip Huggins

    DIRECTOR

    Total calculated
    $6,000
    From this org
    $6,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Herbert Drayton III

    TREASURER

    Total calculated
    $20,000
    From this org
    $20,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • James H Hodges

    CHAIR

    Total calculated
    $20,000
    From this org
    $20,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Joe Queenan

    EXECUTIVE DIRECTOR

    Total calculated
    $285,940
    From this org
    $277,046
    From related orgs
    $0
    Other
    $8,894
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $262,500
    Bonus
    $14,546
    Other
    $0
    Deferred
    $8,894
    Nontaxable benefits
    $0
    Filer's total
    $285,940

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 · Compensation committee
  • 3 · Approval by the board or compensation committee

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)

PART I, LINE 3
THE BOARD FORMED AN INDEPENDENT COMPENSATION COMMITTEE WHICH PERFORMED A DETAILED REVIEW USING COMPARABILITY DATA FROM MULTIPLE SOURCES. THE OFFICERS COMPENSATED WERE NOT INVOLVED IN THE DELIBERATIONS OR DECISIONS OF THE COMPENSATION COMMITTEE.

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

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.

  • QLLIANCE

    501(C)(6) · FACILITATING COLLABORATION AND PARTNERSHIP · SC · controlled entity

    Directly controlled by SOUTH CAROLINA QUANTUM ASSOCIATION INC

Provenance

Return type
form_990
Tax year
2024
Filed
12 November 2025
IRS schema version
2024v5.2
Source object
202513179349302876

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