Quality Education Academy

Analysis

Quality Education Academy is a registered charity in United States, based in Winston Salem, NC. It received its IRS tax-exemption ruling in June 1999, 27 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Quality Education Academy reported income of $9.0m and spending of $9.6m, spending 107% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $6.2m to $9.0m (+45%), an average of +9.7% a year. The sharpest change came in the year to June 2021, when income rose by 38%. Over the whole period it spent 102% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Quality Education Academy sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within NC. Charities of a similar size with the same main cause include Christian School at Castle Hills ($9.0m), Ethical Community Charter School ($9.0m) and Chapter One NFP ($9.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 24% and program service revenue 76% of the total. Other salaries and wages came to $5.4m. At year end it held assets of $3.7m against liabilities of $183k, net assets of $3.6m. It reported 130 employees.