Quality Education Institute Inc
- Assets
- $2.5m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 17
- Location
- Winstonsalem, NC
- Founding
- 04/1993
- Data as of
- 06/2020
- EIN
- 56-1775418
Organization Overview
Quality Education Institute Inc is located in Winstonsalem, NC. The organization was established in 1993. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2020, Quality Education Institute Inc employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Quality Education Institute 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 06/2020, Quality Education Institute Inc generated $1.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $1.0m during the year ending 06/2020. While expenses have increased by 9.6% per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE ENTITY IS A SCHOOL SPECIALIZING IN DAYCARE PROVIDING AN EDUCATIONAL CURRICULUM FOR CHILDREN LEADING TO A MORE PRODUCTIVE CITIZEN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE DAYCARE & EDUCATION TO APPROXIMATELY 80 STUDENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2020. ALSO RENTED SPACE TO QUALITY EDUCATION ACADEMY CHARTER SCHOOL, WHICH SERVED APPROXIMATELY 553 STUDENTS DURING THE FISCAL YEAR ENDED 6/30/20.
PROVIDE DAYCARE & EDUCATION TO APPROXIMATELY 80 STUDENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2020. ALSO RENTED SPACE TO QUALITY EDUCATION ACADEMY CHARTER SCHOOL, WHICH SERVED APPROXIMATELY 553 STUDENTS DURING THE FISCAL YEAR ENDED 6/30/20.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jefferson Caruthers Jr Chairman | OfficerTrustee | 1 | $0 |
Tonya Bellanger CEO | Officer | 10 | $0 |
Adolphus Coplin Board Member | Trustee | 0.75 | $0 |
J Luther Covington Board Member | Trustee | 0.75 | $0 |
John Foxworth Board Member | Trustee | 0.75 | $0 |
James Gadson Board Member | Trustee | 0.75 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $721,462 |
| Investment income | $5,236 |
| 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 | $1,017,095 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $584,699 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $45,530 |
| Payroll taxes | $47,990 |
| Fees for services: Management | $1,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,530 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $76,683 |
| Advertising and promotion | $0 |
| Office expenses | $11,517 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $18,276 |
| Travel | $1,250 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $14,604 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $79,115 |
| Insurance | $8,916 |
| All other expenses | $0 |
| Total functional expenses | $1,041,723 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,023,781 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $154,978 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,541,923 |
| 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 | $701,897 |
| Unsecured mortgages and notes payable | $112,800 |
| Other liabilities | $0 |
| Total liabilities | $814,697 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $1,727,226 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Quality Education Institute Inc has recieved totaling $123,520.
| Awarding Organization | Amount |
|---|---|
Smart Start Of Forsyth County Winston Salem, NC PURPOSE: NCPK CCS | $123,520 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ashley Hall Foundation Charleston, SC | $53,552,404 | $18,962,378 |
Heathwood Hall Episcopal School Columbia, SC | $39,181,921 | $20,445,816 |
Brookstone School Inc Columbus, GA | $71,035,506 | $24,481,396 |
Greenville Renewable Energy Education Charter School Greenville, SC | $26,163,515 | $17,750,984 |
Lincoln Charter School Inc Denver, NC | $10,014,512 | $18,722,799 |
Imagine Schools Inc Vienna, VA | $112,554,052 | $31,881,932 |
Savannah Christian Preparatory School Inc Savannah, GA | $28,769,990 | $18,697,901 |
Capstone Education Group Inc Memphis, TN | $24,521,664 | $20,250,688 |
Strong Rock Christian School Inc Locust Grove, GA | $18,179,980 | $18,285,975 |
Fellowship Christian School Inc Roswell, GA | $48,536,188 | $18,034,878 |
Dubois Integrity Academy Inc Riverdale, GA | $36,435,666 | $18,797,787 |
St Francis Day School Inc Roswell, GA | $35,555,718 | $15,564,442 |