Educationquest Foundation Inc
- Assets
- $10.5m
- Revenue
- $538.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Lincoln, NE
- Founding
- 03/1979
- Data as of
- 09/2021
- EIN
- 47-0606382
Organization Overview
Educationquest Foundation Inc is located in Lincoln, NE. The organization was established in 1979. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Educationquest Foundation 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 09/2021, Educationquest Foundation Inc generated $538.1k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 17.0% each year . All expenses for the organization totaled $1.6m during the year ending 09/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Educationquest Foundation Inc has awarded 162 individual grants totaling $10,637,361. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
IMPROVING ACCESS TO HIGHER EDUCATION IN NEBRASKA. THE CORPORATION PARTICIPATES IN ACTIVITIES WHICH ADVANCE EDUCATION IN NEBRASKA INCLUDING THE ACQUISITION OF STUDENT LOAN PORTFOLIOS IN VARIOUS FORMS. THE IRS HAS DETERMINED PURSUANT TO A PRIVATE LETTER RULING DATED 3/31/98 THAT THIS ACTIVITY WILL FURTHER THE CORPORATION'S EXEMPT STATUS UNDER SECTION 501(C)(3).
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIP AWARDS TO STUDENTS ATTENDING QUALIFIED POST-SECONDARY INSTITUTIONS OF HIGHER EDUCATION IN THE STATE OF NEBRASKA (AWARDED BY FORMULA ON AN OBJECTIVE, NONDISCRIMINATORY BASIS).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Craig Ames Chairman | OfficerTrustee | 1 | $0 |
Elizabeth S Koop President/ceo/director | OfficerTrustee | 40 | $0 |
Michael J Timmins Cfo/senior Vice President | Officer | 40 | $0 |
Daphne Hall Senior Vice President | Officer | 40 | $0 |
Eric Drumheller Vice President | Officer | 40 | $0 |
Wendy Boyer Director | Trustee | 1 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $525,097 |
| Investment income | $12,983 |
| 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 | $538,080 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,567,052 |
| 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 | $0 |
| Fees for services: Accounting | $2,970 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $33,478 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $991 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,604,491 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,849 |
| Savings and temporary cash investments | $286,741 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $54,459 |
| 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 | $1,667 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $10,111,603 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,465,319 |
| Accounts payable and accrued expenses | $0 |
| 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 | $1,636,355 |
| Total liabilities | $1,636,355 |
| Net assets without donor restrictions | $8,828,964 |
| 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 | $10,465,319 |
Grants Awarded
Over the last fiscal year, Educationquest Foundation Inc has awarded $1,491,572 in support to 22 organizations.
| Grant Recipient | Amount |
|---|---|
Lincoln, NE PURPOSE: SCHOLARSHIPS | $698,500 |
Omaha, NE PURPOSE: SCHOLARSHIPS | $137,252 |
Lincoln, NE PURPOSE: SCHOLARSHIPS | $117,500 |
Hastings, NE PURPOSE: SCHOLARSHIPS | $61,500 |
Wayne, NE PURPOSE: SCHOLARSHIPS | $58,100 |
NORTHEAST COMMUNITY COLLEGE FOUNDATION PURPOSE: SCHOLARSHIPS | $52,600 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nebraska Student Loan Program Inc Lincoln, NE | $230,624,169 | $45,453,979 |
Kansas City Scholars Inc Kansas City, MO | $5,810,030 | $12,156,402 |
Des Moines Golf And Country Club West Des Moines, IA | $24,329,403 | $13,657,003 |
Waitt Foundation North Sioux City, SD | $157,175,219 | $6,009,824 |
Scholarship Foundation Of St Louis St Louis, MO | $49,025,721 | $11,563,775 |
Western Union Foundation Inc Denver, CO | $4,087,172 | $7,099,166 |
Rsm Us Foundation Davenport, IA | $13,920,904 | $7,669,329 |
Foundation For Educational Funding Lincoln, NE | $161,530,703 | $9,132,107 |
Western States Learning Corporation Cheyenne, WY | $7,278,085 | $6,097,150 |
Prosperity Denver Fund Denver, CO | $29,340,017 | $14,622,453 |
Reisher Family Foundation Lakewood, CO | $521,642,537 | $444,544,338 |
Papillion Lavista Schools Foundation Papillion, NE | $9,484,528 | $7,053,869 |