Institute For Quality Education Inc
- Assets
- $13.6m
- Revenue
- $14.9m
- Investments
- $0.0
- Employees
- 9
- Location
- Indianapolis, IN
- Founding
- 11/1991
- Data as of
- 06/2022
- EIN
- 35-1836687
Organization Overview
Institute For Quality Education Inc is located in Indianapolis, IN. The organization was established in 1991. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 06/2022, Institute For Quality Education Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Institute For Quality Education Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Institute For Quality Education Inc generated $14.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled $13.5m during the year ending 06/2022. While expenses have increased by 8.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Institute For Quality Education Inc has awarded 1,081 individual grants totaling $65,996,060. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE TUITION ASSISTANCE TO LOW-INCOME FAMILIES FOR PRIMARY AND SECONDARY EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIP GRANTING ORGANIZATION, WHICH IS CERTIFIED BY THE INDIANA DEPARTMENT OF EDUCATION, GRANTS SCHOOL SCHOLARSHIPS TO CHILDREN TO ASSIST IN TUITION AND FEES. FOR THE YEAR ENDED 6/30/2022, 6,948 STUDENTS RECIEVED SCHOLARSHIPS.
IN ADDITION TO PROVIDING TUITION ASSISTANCE TO LOW INCOME FAMILIES, THE ORGANIZATION SERVES WORKS WITH OVER 85% OF THE CHARTER SCHOOLS IN THE STATE BY CONVENING AND LEADING THE INDIANA CHARTER SCHOOL NETWORK.
THE ORGANIZATION WORKS TO DEVELOP, ADVOCATE AND IMPLEMENT K-12 EDUCATION POLICIES AT THE STATE LEVEL TO HELP SUPPORT EDUCATIONAL FREEDOM FOR ALL HOOSIER FAMILIES AND EDUCATORS. THE ORGANIZATION WORKS TO EDUCATE FAMILIES, EDUCATORS, COMMUNITY LEADERS CITIZENS, AND POLICY MAKERS IN THE IMPORTANCE OF ACCESS TO A HIGH QUALITY EDUCATION FOR ALL OF INDIANA'S STUDENTS SO THEY EACH MAY LEARN IN AN ENVIRONMENT THAT BEST MEETS THEIR UNIQUE LEARNING NEEDS AND ALLOWS THEM THE OPPORTUNITY TO REACH THEIR FULL POTENTIAL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Al Hubbard Chairman | OfficerTrustee | 1 | $0 |
Dan Elsener Board Member | Trustee | 1 | $0 |
Robert Enlow Board Member | Trustee | 1 | $0 |
Heather Willey Harris Board Member | Trustee | 1 | $0 |
Neil Pickett Board Member | Trustee | 1 | $0 |
Jeff Knight Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $140,250 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $14,740,636 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,880,886 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $12,000 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,892,886 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,729,476 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $167,014 |
| Compensation of current officers, directors, key employees. | $15,031 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $904,635 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $53,372 |
| Fees for services: Lobbying | $61,855 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,231,353 |
| Office expenses | $227,827 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $86,061 |
| Travel | $50,523 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,967 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $13,517,083 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,379,087 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $165,000 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,171 |
| Net Land, buildings, and equipment | $9,313 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,075 |
| Total assets | $13,566,646 |
| Accounts payable and accrued expenses | $121,302 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $121,302 |
| Net assets without donor restrictions | $3,912,753 |
| Net assets with donor restrictions | $9,532,591 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $13,566,646 |
Grants Awarded
Over the last fiscal year, Institute For Quality Education Inc has awarded $10,651,261 in support to 160 organizations.
| Grant Recipient | Amount |
|---|---|
SAINT STANILAUS KOSKA CATHOLIC SCHOOL PURPOSE: EDUCATION | $7,500 |
NATIVITY OF OUR SAVIOR CATHOLIC SCHOOL PURPOSE: EDUCATION | $8,000 |
SAINT MARY CATHEDRAL SCHOOL - LCSS PURPOSE: EDUCATION | $67,633 |
SAINT LAWRENCE ELEMENTARY SCHOOL - LCSS PURPOSE: EDUCATION | $50,859 |
SAINT PAUL CATHOLIC SCHOOL - VALPARAISO PURPOSE: EDUCATION | $25,000 |
SAINT BONIFACE SCHOOL - LCSS PURPOSE: EDUCATION | $6,802 |