Overview
What is Questa Education Foundation Inc?
Questa Education Foundation Inc, situated in Fort Wayne, Indiana, is a nonprofit organization that focuses on facilitating access to higher education for individuals in northeast Indiana. They offer loan and scholarship programs, such as the Questa Scholars, which provided over $1.9 million to 439 students in 2023 from various counties. The Questa Scholars Program allows students to borrow up to $20,000 over four years, with the possibility of loan forgiveness for those who meet specific residency and employment requirements in the region for 1 to 5 years after graduation. Questa Education Foundation's mission is to help individuals from northeast Indiana attend college, graduate with lower debt, and contribute positively to the local workforce. The foundation has a workforce of 9 dedicated individuals committed to this cause.
Official website here: www.questafoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating 100% - Four-Star out of Four Star Rating
Questa Education Foundation Inc has achieved an outstanding Four-Star rating from Charity Navigator, reflecting a perfect score of 100% in Accountability & Finance. This high rating indicates the organization maintains robust financial practices and transparency, with no noted material diversions of assets. Their commitment to governance is evidenced by a fully independent board and comprehensive policies for conflict of interest and document retention.
The foundation excels in its financial ratios, showcasing an impressive program expense ratio of 89.65%, which suggests that the majority of their funds are directed toward their educational initiatives. Additionally, their fundraising efficiency is commendable, with a minimal cost of just $0.022 to raise a dollar, indicating effective use of resources in raising funds for their mission.
However, while the organization demonstrates exceptional financial health and accountability, further insights into their programmatic impacts or community feedback are not detailed in the available data. Overall, Questa Education Foundation Inc stands as a commendable nonprofit dedicated to its mission with strong financial integrity.
This AI summary has been generated from information found on Charity Navigator.
Is Questa Education Foundation Inc legitimate?
Questa Education Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Questa Education Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $122,652
Professional Fundraising Fees: $0
Other Salaries and Wages: $313,165
For more financial information, click here
Official website here: www.questafoundation.org
What is the mission statement of Questa Education Foundation Inc?
The Questa Education Foundation's mission is centered around assisting individuals in gaining access to post-secondary education. Their goal is to help these individuals graduate with manageable debt and prepare them to become valuable contributors to the workforce in various regions. The foundation accomplishes this by administering loan and scholarship programs, such as the Questa Scholars program, which provides financial aid to students from several counties in Indiana. After graduation, students who meet certain residency and employment requirements in the region for a specified period may become eligible for loan forgiveness, thereby reducing their debt burden significantly.
Official website here: www.questafoundation.org
Who is the CEO of Questa Education Foundation Inc?
Emily E Pichon Jd is the Chairman of Questa Education Foundation Inc.
Official website here: www.questafoundation.org
What is the revenue of Questa Education Foundation Inc?
Questa Education Foundation Inc's revenue in 2023 was $3,065,583.
Official website here: www.questafoundation.org
Who are the executives of Questa Education Foundation Inc and what are their salaries?
The average compensation at Questa Education Foundation Inc during 2023 was $48,424. There are 9 employees and 92 volunteers at Questa Education Foundation Inc.
Here are 18 key members and their salaries:
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Official website here: www.questafoundation.org
Where can I find the form 990 for Questa Education Foundation Inc?
Questa Education Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.questafoundation.org
Learn more at the official website: www.questafoundation.org
Mission Statement of Questa Education Foundation Inc
Questa Education Foundation, a nonprofit organization, is committed to assisting individuals in gaining access to post-secondary education. Its mission is to empower these individuals, enabling them to graduate with reduced debt and ultimately become valuable contributors to Northeast Indiana's workforce. By administering various loan and scholarship programs, Questa Education Foundation provides financial aid to students from several counties, including Adams, Allen, DeKalb, Huntington, Kosciuscko, LaGrange, Noble, Steuben, Wabash, Wells, and Whitley. The organization offers Questa Scholars loans, with eligible students typically able to borrow up to $20,000 over four years, after which they may become eligible for partial or full loan forgiveness if they meet specific residency and employment requirements in Northeast Indiana for a certain period. By fulfilling this mission, Questa Education Foundation plays a crucial role in enhancing educational opportunities and fostering economic growth within the region.
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Impact
October, 2024
Questa Education Foundation Inc profoundly impacts individuals and communities in Northeast Indiana by enhancing access to post-secondary education and supporting students in minimizing their debt burden. In fiscal year 2023 alone, the foundation disbursed over $1,974,632 in Questa Scholars loans to 439 students across multiple counties, enabling them to pursue higher education with greater financial ease.
The foundation offers a structured loan program where students can borrow up to $20,000 over four years, promoting sustained educational engagement by providing $2,500 per semester. This financial support is coupled with a unique loan forgiveness program that incentivizes graduates to remain in the region. By meeting specific residency and employment criteria, these graduates can have 50% to 100% of their loan principal forgiven over five years, fostering a stronger local workforce.
The commitment to helping individuals graduate with less debt not only supports personal financial stability but also contributes to the overall economic health of the region. As these educated individuals enter the workforce, they become vital contributors to the local economy, enhancing both their communities and the broader Northeast Indiana area.
This information is meant to be a general summary of Questa Education Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $199,987
- Program Service Revenue: $215,205
- Gross Receipts: $6,683,364
Assets and Liabilities:
- Total Assets: $16,624,759
- Total Liabilities: $300,817
- Net Assets: $16,323,942
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Loan administration fees
Revenue
$176,057
Loan interest & late fees
Revenue
$39,148
Organization Details
Founding Year
1946
Phone
(260) 407-6494Principal Officer
Emily E Pichon Jd
Main Address
6502 Constitution Drive, Fort Wayne, IN, 46804
Website
www.questafoundation.orgNTEE Category
Code: B120 - Education
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