Quest Academy Inc
- Assets
- $2.4m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 21
- Location
- Raleigh, NC
- Founding
- 04/1994
- Data as of
- 06/2022
- EIN
- 56-1831343
Organization Overview
Quest Academy Inc is located in Raleigh, NC. The organization was established in 1994. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Quest Academy Inc employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Quest Academy 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, Quest Academy Inc generated $1.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $1.3m during the year ending 06/2022. While expenses have increased by 3.2% 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
PUBLIC CHARTER SCHOOL PROVIDING EDUCATION OF STUDENTS IN GRADES K-8.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATED AS A CHARTER SCHOOL IN RALEIGH, NC SERVING APPROXIMATELY 140 STUDENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brock Lavrack Board Chair | OfficerTrustee | 2 | $0 |
John Medicke Asst Board Chair | OfficerTrustee | 1 | $0 |
Ben Wetzel Board Member | Trustee | 1 | $0 |
John Watson Board Member | Trustee | 1 | $0 |
Libby Emswiler Board Member | Trustee | 1 | $0 |
Loren Hatfield Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,533,127 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,533,127 |
| Total Program Service Revenue | $0 |
| Investment income | $26 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $1,533,153 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $876,382 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $42,468 |
| Payroll taxes | $73,800 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $50 |
| Office expenses | $13,551 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $909 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,508 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $78,632 |
| Insurance | $16,218 |
| All other expenses | $12,472 |
| Total functional expenses | $1,278,575 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $663,706 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,325 |
| 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 | $1,248 |
| Net Land, buildings, and equipment | $1,767,222 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,442,501 |
| Accounts payable and accrued expenses | $10,615 |
| 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 | $10,615 |
| Net assets without donor restrictions | $2,431,886 |
| Net assets with donor restrictions | $0 |
| 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 | $2,442,501 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Quest Academy Inc has recieved totaling $200.
| Awarding Organization | Amount |
|---|---|
Lpl Financial Foundation Inc Boston, MA PURPOSE: OPERATIONAL SUPPORT | $100 |
Lpl Financial Foundation Inc Boston, MA PURPOSE: OPERATIONAL SUPPORT | $100 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Trinity School Inc Atlanta, GA | $133,203,671 | $25,058,941 |
Hammond School Columbia, SC | $54,753,815 | $20,190,119 |
Carolina Day School Inc Asheville, NC | $29,412,889 | $19,874,947 |
Republic Schools Nashville Nashville, TN | $31,048,580 | $24,002,902 |
Congressional School Inc Falls Church, VA | $21,870,095 | $18,184,082 |
Nansemond-Suffolk Academy Association Incorporated Suffolk, VA | $19,895,333 | $17,664,822 |
Summit School Inc Winstonsalem, NC | $46,496,346 | $18,682,492 |
North Cobb Christian School Inc Kennesaw, GA | $44,288,708 | $22,180,039 |
Christian Academy Of Knoxville Inc Knoxville, TN | $16,374,308 | $19,411,697 |
Cornerstone Academy Inc Morristown, TN | $83,376,022 | $25,507,605 |
Piedmont Community Charter School Gastonia, NC | $39,263,540 | $16,321,598 |
Franklin Academy Inc Wake Forest, NC | $23,533,490 | $17,154,874 |