Quest Academy

Nonprofit profile at a glance

EIN
561831343
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Raleigh, NC, USA
Phone
9198410441
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,750,421
Expenses
$1,447,788
Assets
$3,254,512
Liabilities
$5,847

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

Leadership & pay

7 people listed

Highest reported compensation

  • ELIZABETH READMOND (ADMINISTRATOR): $97,575 total reported compensation

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

Overview

Mission

Public charter schedule providing education of students in grades k-8.

What it reported doing in 2024

Operated as a charter school in raleigh, nc serving approximately 140 students

Operating model

Revenue model
Grant-funded. 93% of the money available for current operations came from government grants.
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 - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 62
  • Transparency & Controls: 90
  • Accountability: 90
  • Sustainability: 69
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 65.5%; rating input score 65
  • Program expense ratio: 78.2%; rating input score 78
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 17.3%; rating input score 73; 73rd percentile among comparable filings
  • Total-asset coverage ratio: 2.25; rating input score 68; 68th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 78; 78th percentile among comparable filings
  • Officer compensation ratio: 6.7%; rating input score 48; 48th percentile among comparable filings

Growth

  • Program expense growth: 4% per year; rating input score 100; 37th percentile among comparable filings
  • Revenue growth: 4.6% per year; rating input score 100; 41st percentile among comparable filings
  • Asset growth: 0.9% per year; rating input score 100; 21st percentile among comparable filings

Details

  • Where the money goes: 65.5% of revenue deployed · 78.2% of spending went to programs
  • Governance: 6 of 6 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.1M in reported program spending
  • Leadership: top reported pay $98K · 7 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 6 filed schedules
  • Filing history: 9 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 48/100.