Questa Foundation For Education Inc
- Assets
- $18.4m
- Revenue
- $4.6m
- Investments
- $0.0
- Employees
- 12
- Location
- Fort Wayne, IN
- Founding
- 12/1951
- Data as of
- 06/2024
- EIN
- 35-6025795
Organization Overview
Questa Foundation For Education Inc is located in Fort Wayne, IN. The organization was established in 1951. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. As of 06/2024, Questa Foundation For Education Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Questa Foundation For 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 06/2024, Questa Foundation For Education Inc generated $4.6m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 20.3% each year . All expenses for the organization totaled $3.4m during the year ending 06/2024. While expenses have increased by 15.9% per year over the past 5 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
QUESTA EDUCATION FOUNDATION HELPS INDIVIDUALS ACCESS POST-SECONDARY EDUCATION, GRADUATE WITH LESS DEBT, AND BECOME CONTRIBUTING MEMBERS OF NORTHEAST INDIANAS WORKFORCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
QUESTA EDUCATION FOUNDATION ADMINISTERS THE FOLLOWING LOAN AND SCHOLARSHIP PROGRAMS:DURING FISCAL YEAR 2024, QUESTA FOUNDATION PROVIDED OVER $3,180,167 IN QUESTA SCHOLARS LOANS TO 552 STUDENTS PRIMARILY FROM ADAMS, ALLEN, DEKALB, HUNTINGTON, KOSCIUSCKO, LAGRANGE, NOBLE, STEUBEN, WABASH, WELLS AND WHITLEY COUNTIES ATTENDING COLLEGE. STUDENTS IN THE QUESTA SCHOLARS PROGRAM ARE TYPICALLY ELIGIBLE TO BORROW UP TO $20,000 OVER FOUR YEARS ($2,500 PER SEMESTER FOR UP TO $5,000 PER ACADEMIC YEAR) FOR COLLEGE. STUDENTS WHO GRADUATE COLLEGE AND MEET CERTAIN RESIDENCY AND EMPLOYMENT REQUIREMENTS IN NORTHEAST INDIANA FOR 1 - 5 YEARS AFTER COLLEGE TYPICALLY BECOME ELIGIBLE TO HAVE 50% - 100% OF THE PRINCIPAL LOAN BALANCE FORGIVEN OVER THE FIVE YEARS. PLEASE SEE SCHEDULE O FOR FURTHER INFORMATION.
QUESTA EDUCATION FOUNDATION ADMINISTERS THE FOLLOWING GRANT AND SCHOLARSHIP PROGRAMS: THE VENETTE AND MABEL SITES GRANT ASSISTS CURRENT STUDENTS WITH FINANCIAL NEED WHO GRADUATED FROM PUBLIC ALLEN COUNTY HIGH SCHOOLS WHO ARE IN THE QUESTA SCHOLARS PROGRAM. GRANTS ARE APPLIED TO A STUDENT'S CURRENT QUESTA LOAN BALANCE AND ASSIST WITH PAYING DOWN A STUDENT'S DEBT. AWARDS ARE MADE BASED UPON ACADEMIC PERFORMANCE AND FINANCIAL NEED. FIFTY-SEVEN (57) STUDENTS RECEIVED $83,000 IN SITES SCHOLARSHIP AWARDS DURING THE FISCAL YEAR. PLEASE SEE SCHEDULE O FOR FURTHER INFORMATION ON ADDITIONAL SCHOLARSHIPS AND GRANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth Bushnell PHD Executive Dir. | Officer | 40 | $123,323 |
Ian Boyce CFP Chairman | OfficerTrustee | 2 | $0 |
Dave Haist JD Vice Chairman | OfficerTrustee | 1 | $0 |
Joanne Alvarez Edd Secretary | OfficerTrustee | 1 | $0 |
Derek Lamle CPA Treasurer | OfficerTrustee | 1 | $0 |
Celeste Stevens Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,582,343 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,582,343 |
| Total Program Service Revenue | $326,270 |
| Investment income | $376,261 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $268,740 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,553,614 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $170,320 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $133,897 |
| Compensation of current officers, directors, key employees. | $9,515 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $426,868 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $114,035 |
| Payroll taxes | $50,279 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $285 |
| Fees for services: Accounting | $32,180 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $43,361 |
| Fees for services: Other | $23,653 |
| Advertising and promotion | $96,516 |
| Office expenses | $19,469 |
| Information technology | $36,005 |
| Royalties | $0 |
| Occupancy | $36,000 |
| Travel | $3,993 |
| 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 | $77,291 |
| Insurance | $3,726 |
| All other expenses | $0 |
| Total functional expenses | $3,381,296 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,181,188 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,363,311 |
| Accounts receivable, net | $3,885,628 |
| 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 | $28,386 |
| Net Land, buildings, and equipment | $97,709 |
| Investments—publicly traded securities | $9,471,094 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $355,399 |
| Total assets | $18,382,715 |
| Accounts payable and accrued expenses | $27,609 |
| Grants payable | $0 |
| Deferred revenue | $65,965 |
| 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 | $125,294 |
| Total liabilities | $218,868 |
| Net assets without donor restrictions | $10,722,369 |
| Net assets with donor restrictions | $7,441,478 |
| 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 | $18,382,715 |