Questa Foundation For Education Inc
- Assets
- $15.1m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 6
- Location
- Fort Wayne, IN
- Founding
- 12/1951
- Data as of
- 06/2022
- 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 06/2022, Questa Foundation For Education Inc employed 6 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 06/2022, Questa Foundation For Education Inc generated $3.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.1% each year. All expenses for the organization totaled $1.4m during the year ending 06/2022. While expenses have increased by 4.8% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
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 2022, QUESTA FOUNDATION PROVIDED OVER $1,682,832 IN QUESTA SCHOLARS LOANS TO 357 STUDENTS FROM ADAMS, ALLEN, DEKALB, HUNTINGTON, KOSCIUSCKO, LAGRANGE, NOBLE, STEUBEN, WABASH, WELLS AND WHITLEY COUNTIES, INDIANA (AND SURROUNDING AREAS BASED ON PARTNERSHIPS) ATTENDING COLLEGE. STUDENTS IN THE QUESTA SCHOLARS PROGRAM ARE 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 UP TO FIVE YEARS AFTER COLLEGE BECOME ELIGIBLE TO HAVE 50% 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. SIXTY-SIX (66) STUDENTS RECEIVED $88,750 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 | $118,999 |
Emily E Pichon JD Chairman | OfficerTrustee | 2 | $0 |
Ian Boyce CFP Vice Chairman | OfficerTrustee | 1 | $0 |
Todd Jones CIC Secretary | OfficerTrustee | 1 | $0 |
Derek Lamle CPA Treasurer | OfficerTrustee | 1 | $0 |
Joanne Alvarez Edd 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 | $2,380,243 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,380,243 |
| Total Program Service Revenue | $136,665 |
| Investment income | $150,742 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $589,733 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,257,383 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $143,730 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $123,608 |
| Compensation of current officers, directors, key employees. | $10,455 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $254,921 |
| Pension plan accruals and contributions | $13,529 |
| Other employee benefits | $67,458 |
| Payroll taxes | $38,900 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,073 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $43,116 |
| Fees for services: Other | $1,838 |
| Advertising and promotion | $36,672 |
| Office expenses | $11,815 |
| Information technology | $25,748 |
| Royalties | $0 |
| Occupancy | $21,863 |
| Travel | $917 |
| 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 | $28,024 |
| Insurance | $6,077 |
| All other expenses | $0 |
| Total functional expenses | $1,445,558 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,083,823 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $927,488 |
| Accounts receivable, net | $3,402,209 |
| 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 | $21,532 |
| Net Land, buildings, and equipment | $83,041 |
| Investments—publicly traded securities | $8,101,137 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $432,682 |
| Total assets | $15,051,912 |
| Accounts payable and accrued expenses | $20,934 |
| Grants payable | $0 |
| Deferred revenue | $113,856 |
| 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 | $134,790 |
| Net assets without donor restrictions | $9,689,697 |
| Net assets with donor restrictions | $5,227,425 |
| 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 | $15,051,912 |
Grants Recieved
Over the last fiscal year, we have identified 16 grants that Questa Foundation For Education Inc has recieved totaling $1,245,358.
| Awarding Organization | Amount |
|---|---|
Aws Foundation Inc Fort Wayne, IN PURPOSE: TEACHER SHORTAGES | $597,692 |
8020 Foundation Tr Fort Wayne, IN PURPOSE: MANUFACTURING SCHOLARSHIPS | $165,000 |
8020 Foundation Tr Fort Wayne, IN PURPOSE: MANUFACTURING SCHOLARSHIPS | $165,000 |
Sites Designated Charities Tr Las Vegas, NV PURPOSE: GENERAL OPERATING | $98,952 |
8020 Foundation Tr Fort Wayne, IN PURPOSE: MANUFACTURING SCHOLARSHIPS | $82,500 |
Olive B Cole Foundation Inc Fort Wayne, IN PURPOSE: SCHOLARSHIPS | $38,500 |
Endowment Analysis
| Beg. Balance | $696,022 |
| Earnings | -$108,241 |
| Grants | $20,000 |
| Ending Balance | $567,781 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Northern School District Tr Nsdt Ashland, WI | $7,100,055 | $19,700,380 |
Kentucky Educational Development Corporation Ashland, KY | $6,070,827 | $11,298,796 |
Cristo Rey Network Chicago, IL | $14,102,009 | $11,695,592 |
City Colleges Of Chicago Foundation Chicago, IL | $22,678,364 | $14,327,610 |
Big Ten Academic Alliance Champaign, IL | $13,766,841 | $9,203,675 |
Kidsmart Saint Louis, MO | $4,061,844 | $8,307,759 |
Northwest Foundation Inc Maryville, MO | $55,922,802 | $14,720,589 |
Holy Family Ministries Chicago, IL | $16,241,007 | $8,503,495 |
Middlebury Community Schools Employee Benefit Trust Middlebury, IN | $1,426,617 | $4,992,187 |
Drexel Funds Milwaukee, WI | $18,531,220 | $8,522,964 |
Indianapolis Public Schools Education Foundation Inc Indianapolis, IN | $8,991,095 | $5,839,882 |
North Central States Regional Council Of Carpenters Trng Fund Eau Claire, WI | $10,404,488 | $4,232,713 |