Quality Education Academy
- Assets
- $4.7m
- Revenue
- $8.1m
- Investments
- $0.0
- Employees
- 122
- Location
- Winston Salem, NC
- Founding
- 06/1999
- Data as of
- 06/2021
- EIN
- 56-2017872
Organization Overview
Quality Education Academy is located in Winston Salem, NC. The organization was established in 1999. 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 06/2021, Quality Education Academy employed 122 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Quality Education Academy 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 06/2021, Quality Education Academy generated $8.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.6% each year. All expenses for the organization totaled $7.3m during the year ending 06/2021. While expenses have increased by 9.0% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
OPERATION OF A PUBLIC CHARTER SCHOOL
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED EDUCATION TO APPROXIMATELY 553 STUDENTS IN FORSYTH COUNTY, NC FOR THE FISCAL YEAR ENDED JUNE 30, 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tonya Bellanger CEO | OfficerTrustee | 40 | $109,331 |
Jefferson Caruthers Chairman | OfficerTrustee | 2.5 | $0 |
Adolphus Coplin Director | Trustee | 1 | $0 |
John Foxworth Director | Trustee | 1 | $0 |
Roy Oliphant Director | Trustee | 1 | $0 |
Kendra March Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,672,152 |
| All other contributions, gifts, grants, and similar amounts not included above | $30,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,702,152 |
| Total Program Service Revenue | $6,223,756 |
| Investment income | $19,510 |
| 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 | $8,077,543 |
| 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. | $146,480 |
| Compensation of current officers, directors, key employees. | $146,480 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,375,927 |
| Pension plan accruals and contributions | $47,028 |
| Other employee benefits | $327,400 |
| Payroll taxes | $338,938 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $47,415 |
| Fees for services: Accounting | $12,550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $445,161 |
| Advertising and promotion | $7,784 |
| Office expenses | $79,900 |
| Information technology | $249,764 |
| Royalties | $0 |
| Occupancy | $600,472 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $54,619 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $47,807 |
| Insurance | $32,065 |
| All other expenses | $52,127 |
| Total functional expenses | $7,302,066 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,293,998 |
| Savings and temporary cash investments | $75,201 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $103,812 |
| 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 |
| Net Land, buildings, and equipment | $1,027,558 |
| Investments—publicly traded securities | $1,226,519 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,727,088 |
| Accounts payable and accrued expenses | $1,211 |
| 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 | $4,502 |
| Other liabilities | $0 |
| Total liabilities | $5,713 |
| Net assets without donor restrictions | $4,721,375 |
| 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 | $4,727,088 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Quality Education Academy has recieved totaling $8,000.
| Awarding Organization | Amount |
|---|---|
Winston-Salem Foundation Winstonsalem, NC PURPOSE: 1 GRANT(S) FOR VARYING PURPOSES | $8,000 |
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 |