Quest Academy Inc
- Assets
- $20.4m
- Revenue
- $10.9m
- Investments
- $0.0
- Employees
- 0
- Location
- West Haven, UT
- Founding
- 11/2007
- Data as of
- 06/2023
- EIN
- 26-0198425
Organization Overview
Quest Academy Inc is located in West Haven, UT. The organization was established in 2007. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. 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 06/2023, Quest Academy Inc generated $10.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.3% each year. All expenses for the organization totaled $9.4m during the year ending 06/2023. While expenses have increased by 5.0% 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE EDUCATION OF STUDENTS GRADES K-9.
Describe the Organization's Program Activity:
THE EDUCATION OF STUDENTS K-9 IN A TECHNOLOGY RICH ENVIRONMENT INTEGRATING TECHNOLOGY INTO THE CORE CURRICULUM AND INSTRUCTIONAL STRATEGIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven Reeve Board President | OfficerTrustee | 2 | $0 |
Brittney Hale Board Vice President | OfficerTrustee | 2 | $0 |
Brett Greenwell Secretary | OfficerTrustee | 2 | $0 |
Michele Kersey-Smith Financial Coordinator | OfficerTrustee | 2 | $0 |
Shawn Miehlke Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $10,093,017 |
| All other contributions, gifts, grants, and similar amounts not included above | $107,326 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,200,343 |
| Total Program Service Revenue | $429,930 |
| Investment income | $247,663 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $16,410 |
| 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 | $10,894,346 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $810 |
| Fees for services: Accounting | $20,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $733,894 |
| Advertising and promotion | $2,807 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $20,988 |
| Travel | $12,522 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $514,900 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $473,416 |
| Insurance | $24,770 |
| All other expenses | $1,011,708 |
| Total functional expenses | $9,444,208 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $986,045 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $498,807 |
| Accounts receivable, net | $6,203 |
| 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 | $9,078 |
| Net Land, buildings, and equipment | $11,468,219 |
| Investments—publicly traded securities | $7,411,512 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $20,379,864 |
| Accounts payable and accrued expenses | $1,066,185 |
| Grants payable | $0 |
| Deferred revenue | $12,440 |
| Tax-exempt bond liabilities | $12,111,273 |
| 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 | $13,189,898 |
| Net assets without donor restrictions | $5,702,991 |
| Net assets with donor restrictions | $1,486,975 |
| 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 | $20,379,864 |