Quality Education Institute of Durham Inc Q E I D

Nonprofit profile at a glance

EIN
562094779
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
Durham, NC, USA
Phone
9196883535
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Primary, Elementary Schools

Official website

Reported finances

Revenue
$302,989
Expenses
$296,758
Assets
$12,168
Liabilities
$113,877

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • Ricki Fuller (Executive Director)

Highest reported compensation

  • Lasaundra Vines (Principal): $36,000 total reported compensation
  • Maurice Cotton (Finance Director): $11,025 total reported compensation
  • Ricki Fuller (Executive Director): $2,700 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Our mission is to develop the student holistically by creating a god-cenetered environment that is conducive for productive learning fine-tuning character while encouraging each student at their maximum ability through a rigorous curriculum.

What it reported doing in 2024

Elementary school tuition fees and expenses

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 90
  • Accountability: 61
  • Sustainability: 24
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97.9%; rating input score 98
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 85.7%; rating input score 86; 23rd percentile among comparable filings
  • Governance controls: 2 of 9 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 2.1%; rating input score 44; 44th percentile among comparable filings
  • Total-asset coverage ratio: 0.04; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: 9.36; rating input score 0; 0th percentile among comparable filings
  • Officer compensation ratio: 16.8%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: -2.1% per year; rating input score 0; 23rd percentile among comparable filings
  • Revenue growth: 0.4% per year; rating input score 100; 26th percentile among comparable filings
  • Asset growth: -88.5% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 97.9% of revenue deployed · 100% of spending went to programs
  • Governance: 6 of 7 board members independent · 2 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $297K in reported program spending
  • Leadership: top reported pay $36K · 3 people listed
  • Consistency: 40 of 40 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • Moderate — Sustainability: Operating margin scored 44/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 22/100.