Quality Education For Minorities Network
- Assets
- $933.6k
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 8
- Location
- Washington, DC
- Founding
- 02/1990
- Data as of
- 06/2022
- EIN
- 52-1665643
Organization Overview
Quality Education For Minorities Network is located in Washington, DC. The organization was established in 1990. According to its NTEE Classification (B28) the organization is classified as: Special Education, under the broad grouping of Education and related organizations. As of 06/2022, Quality Education For Minorities Network employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Quality Education For Minorities Network 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, Quality Education For Minorities Network generated $1.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $1.5m during the year ending 06/2022. 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
QEM SERVES AS A NATIONAL RESOURCE AND CATALYST TO HELP UNITE AND STRENGTHEN EDUCATIONAL RESTRUCTURING EFFORTS FOR THE BENEFIT OF MINORITY CHILDREN, YOUTH, AND ADULTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Davien Burnette Chair | OfficerTrustee | 1 | $0 |
Dr Charles Beady Jr Director | Trustee | 1 | $0 |
Mr Derik Coffey Chair | Trustee | 1 | $0 |
Mr Richard Coleman II Director | Trustee | 1 | $0 |
Mr Ernest Green Treasurer | OfficerTrustee | 1 | $0 |
Dr Leonard Haynes III Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,312,141 |
| All other contributions, gifts, grants, and similar amounts not included above | $313,311 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,625,452 |
| Total Program Service Revenue | $0 |
| Investment income | $17,351 |
| 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 | $1,642,803 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $133,300 |
| 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. | $255,080 |
| Compensation of current officers, directors, key employees. | $92,532 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $244,239 |
| Pension plan accruals and contributions | $6,504 |
| Other employee benefits | $103,030 |
| Payroll taxes | $45,208 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $84,554 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,700 |
| Fees for services: Other | $135,428 |
| Advertising and promotion | $0 |
| Office expenses | $13,581 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $98,115 |
| Travel | $225,564 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $749 |
| Interest | $28 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,416 |
| Insurance | $3,359 |
| All other expenses | $2 |
| Total functional expenses | $1,451,036 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $48 |
| Savings and temporary cash investments | $189,385 |
| Pledges and grants receivable | $295,445 |
| Accounts receivable, net | $5,849 |
| 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 | $7,786 |
| Net Land, buildings, and equipment | $2,071 |
| Investments—publicly traded securities | $406,224 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $26,817 |
| Total assets | $933,625 |
| Accounts payable and accrued expenses | $224,597 |
| Grants payable | $0 |
| Deferred revenue | $121,710 |
| 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 | $346,307 |
| Net assets without donor restrictions | $587,318 |
| 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 | $933,625 |
Grants Awarded
Over the last fiscal year, Quality Education For Minorities Network has awarded $132,300 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
BOWIE STATE UNIVERSITY PURPOSE: RESEARCH | $65,149 |
LLBURGE & ASSOCIATES LLC PURPOSE: RESEARCH | $67,151 |