Quest Academy Inc

Analysis

Quest Academy Inc is a registered charity in United States, based in Rutherfordton, NC. It received its IRS tax-exemption ruling in April 1994, 32 years ago. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Quest Academy Inc reported income of $1.6m and spending of $1.3m, spending 82% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.3m to $1.6m (+20%), an average of +4.7% a year. Over the whole period it spent 86% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Quest Academy Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 85th percentile within NC. Charities of a similar size with the same main cause include Blindness Support Services ($1.6m), Great Lakes Hemophilia Foundation Inc ($1.6m) and Reins of Life Inc ($1.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $95k (7.4% of expenses). Other salaries and wages came to $762k. At year end it held assets of $2.8m against liabilities of $65k, net assets of $2.7m. It reported 21 employees.