2023-02-10T12:55:12-08:00 2022-06-30 010727068 Targeted Services PC 709 Clay Street Suite 102 Fort Wayne IN 46802 990 2021-07-01 356025795 Questa Education Foundation Inc QUES 2604076494 6502 Constitution Drive Fort Wayne IN 46804 Derek Lamle CPA Treasurer 2023-02-10 true Derek Lamle CPA 999009999 Patricia Oppor P00234243 2602033121 2 AAL1 IAL1 FAL1 2021 2023-03-07 01:45:13Z Emily E Pichon JD 6502 Constitution Drive Fort Wayne IN 46804 6133166 false X www.questafoundation.org X 1946 IN Questa Education Foundation helps individuals access post-secondary education, graduate with less debt, and become contributing members of Northeast Indianas workforce. 15 15 6 63 0 1355184 2380243 103572 136665 664548 740475 0 2123304 3257383 154440 143730 0 480989 498416 0 48527 976375 803412 1611804 1445558 511500 1811825 16034452 15051912 34714 134790 15999738 14917122 Questa Education Foundation helps individuals access post-secondary education, graduate with less debt, and become contributing members of Northeast Indianas workforce. false false 1092689 136665 Questa Education Foundation administers the following loan and scholarship programs:During fiscal year 2022, Questa Foundation provided over $1,682,832 in Questa Scholars loans to 357 students from Adams, Allen, DeKalb, Huntington, Kosciuscko, LaGrange, Noble, Steuben, Wabash, Wells and Whitley counties, Indiana (and surrounding areas based on partnerships) attending college. Students in the Questa Scholars Program are eligible to borrow up to $20,000 over four years ($2,500 per semester for up to $5,000 per academic year) for college. Students who graduate college and meet certain residency and employment requirements in northeast Indiana for up to five years after college become eligible to have 50% of the principal loan balance forgiven over the five years. Please see Schedule O for further information. 149955 143730 Questa Education Foundation administers the following grant and scholarship programs:The Venette and Mabel Sites Grant assists current students with financial need who graduated from public Allen County high schools who are in the Questa Scholars Program. Grants are applied to a student's current Questa loan balance and assist with paying down a student's debt. Awards are made based upon academic performance and financial need. Sixty-six (66) students received $88,750 in Sites scholarship awards during the fiscal year. Please see Schedule O for further information on additional scholarships and grants. 1242644 true true false false false false false false false true true false false false false true true false false false false false false false false false false false true false false false false false false false false false false false false false false false false false false true 124 0 true 6 true false false false false false false false 0 false false false false false false false X 15 15 false false false false false false false true true false false true true true true true true true true false IN X X Ryan Shepherd 2604076494 6502 Constitution Drive Fort Wayne IN 46804 Elizabeth Bushnell PhD Executive Dir. 40.00 0.00 X 118999 0 5437 Emily E Pichon JD Chairman 2.00 0.00 X X 0 0 0 Ian Boyce CFP Vice Chairman 1.00 0.00 X X 0 0 0 Todd Jones CIC Secretary 1.00 0.00 X X 0 0 0 Derek Lamle CPA Treasurer 1.00 0.00 X X 0 0 0 JoAnne Alvarez EdD Director 0.50 0.00 X 0 0 0 Allyn P Decker PhD Director 0.50 0.00 X 0 0 0 Shenita Bolton M ED Director 0.50 0.00 X 0 0 0 Erin LaCross DNP RN Director 0.50 0.00 X 0 0 0 Pete Van Baalen Director 0.50 0.00 X 0 0 0 Edmond O'Neal Director 0.50 0.00 X 0 0 0 Dave Haist JD Director 0.50 0.00 X 0 0 0 Gary Gatman Director 0.50 0.00 X 0 0 0 Daniel Solms Director 0.50 0.00 X 0 0 0 Mark Scudder JD Director 0.50 0.00 X 0 0 0 Stepanie Veit Director 0.50 0.00 X 0 0 0 118999 5437 1 false false false None 0 2380243 2380243 Loan administration fees 522291 93396 93396 Loan interest & late fees 522291 43269 43269 136665 150742 150742 0 0 0 3465516 2875783 589733 589733 589733 0 0 0 0 3257383 136665 740475 0 143730 143730 0 0 123608 68382 10455 44771 0 254921 190300 64621 13529 12499 1030 67458 60578 5261 1619 38900 37344 778 778 0 0 21073 10418 10655 0 0 43116 43116 1838 1838 36672 36402 78 192 11815 11301 371 143 25748 24718 773 257 0 21863 21208 655 917 734 46 137 0 0 0 0 28024 22419 5605 6077 6077 Loan forgiveness 599194 599194 Unclassified 7075 3417 3028 630 0 1445558 1242644 154387 48527 894524 2083823 0 831270 927488 4139824 3402209 0 0 0 0 13963 21532 323656 240615 76500 83041 9698857 8101137 0 0 0 379514 432682 16034452 15051912 23256 20934 11458 113856 34714 134790 X 11750732 9689697 4249006 5227425 15999738 14917122 16034452 15051912 X 1811825 -2894441 X false true X true false X 911799 1157934 1359206 1355184 2380243 7164366 0 0 911799 1157934 1359206 1355184 2380243 7164366 1043496 6120870 175234 199446 340544 664148 740475 2119847 0 0 9284213 0.65930 0.59070 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 696022 -108241 20000 567781 568762 5782 146478 25000 696022 542696 14525 21541 10000 568762 512364 12274 28058 10000 542696 490481 31883 10000 512364 0.05000 0.95000 true false false 323656 240615 83041 83041 X 1318826 -1895441 -1895441 3214267 43116 43116 3257383 1445558 1445558 1445558 Part V, Line 4: Intended uses of the endowment fund. The intended use of the endowment funds is to generate earnings and gains from which scholarships may be awarded as described in the succeeding paragraphs. Gregory Hosler Wilson Grant provides scholarship assistance to graduates of Allen County high schools who are Questa Scholars and demonstrate significant financial need. Recipients must have completed two semesters of college and evidence an exceptional work ethic and a high measure of perseverance. Four (4) students received a Wilson scholarship for a total of $10,000 during the fiscal year. Walter and Lucile Beckman Grant provides scholarship assistance to Questa Scholars who are pursuing education and/or social science degrees. Recipients must have completed two semesters of college and have a GPA of at least 3.0. Four (4) students received Beckman scholarships during the fiscal year for a total of $10,000. Part X : FIN48 Footnote The Foundation is exempt from income tax under Section 501(c)(3) of the Internal Revenue Code, and qualifies for the 50 percent charitable deduction limitation. The Foundation has been classified as an organization that is not a private foundation under Section 509(a) of the Internal Revenue Code. The Foundation is also exempt from state income taxes. true 0 0 Scholarships 108 143730 Grantmaker's Description of How Grants are Used The Virgil J. and Mildred C. Roy and the Edward C. Dodez scholarships are made directly payable to the U.S. Department of Education accredited colleges and universities at which the students attend. The Gregory Hosler Wilson and the Walter and Lucile Beckman grants are made directly payable to the students' educational institutions. Funds from the Venette and Mabel Sites Foundation are made directly payable to the students' educational institutions. Form 990, Part VI, Line 11b: Form 990 Review Process The completed Form 990 is prepared by a contracted CPA, in consultation with management, and forwarded to the Treasurer and to the finance and audit committee for review. Once reviewed, Form 990 is provided to the Board of Directors prior to filing. Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts Board members are required to complete a Conflict of Interest form and abstain from voting on measures that come before the board that reflect a conflict of interest. This occurs on an ongoing basis in both committee and full board meetings. Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management The Executive Committee performs benchmarking against other non-profit organizations, as well as other foundations, via information found in the Charitable Advisors Northeast Indiana Nonprofit Salary Summary. From this information, a salary range is set for the Executive Director position that is within a reasonable range. The employee benefit package is a component of compensation and is benchmarked against other companies, including non-profit organizations via Charitable Advisors Northeast Indiana Nonprofit Salary Summary and Board member knowledge of other organizations' executive benefit packages. Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees N/A; no other officers or key employees are compensated. Form 990, Part VI, Line 19: Other Organization Documents Publicly Available Questa Education Foundation makes its Articles of Incorporation, Bylaws, Conflict of Interest policy and annual audited financial statements available to the public upon request. These items may be viewed by the public at Questa's office at 6502 Constituion Drive, Fort Wayne, Indiana during normal business hours (8:00 a.m. - 4:30 p.m.) Monday through Friday. Other Changes In Net Assets Or Fund Balances - Other Decreases Change in beneficial interest investment = -$15594 Other Changes In Net Assets Or Fund Balances - Other Decreases Cumulative Change of Accounting Principle = -$999000 Other Changes In Net Assets Or Fund Balances - Other Decreases Net unrealized loss on investments = -$1879847 Part III, line 4a (continued) Questa Education Foundation assists residents of Adams, Allen, DeKalb, Huntington, Kosciusko, LaGrange, Noble, Steuben, Wabash, Wells and Whitley counties, Indiana (and surrounding areas based on partnerships) in the pursuit of post-secondary certificates and degrees. The Foundation awards loans and scholarships to students currently enrolled in U.S. Department of Education accredited colleges and universities in the state of Indiana who are pursuing certificates, associate's or bachelor's degrees. The Foundation also is involved in seeking to retain college graduates in northeast Indiana with a debt forgiveness program that incentivizes college graduates to reside and work in northeast Indiana after graduation from college. All loan and scholarship recipients are selected by the staff and or board of directors through a competitive application review and evaluation process that considers financial need and academic merit. Students in the contemporary Questa Scholars Program are eligible to borrow $2,500 per semester for up to $5,000 per academic year. The contemporary program funds students pursuing a certificate, an associate's or bachelor's degree. Part III, line 4b (continued) Other Scholarships and Grants: The Virgil J. and Mildred C. Roy Nursing Scholarship assists students who are enrolled in Allen County, Indiana schools of nursing (University of Saint Francis, IUFW, Manchester University, Trine University and Ivy Tech Community College), pursuing an R.N. degree. Twenty-three (23) students received $11,000 in Roy scholarship awards during the fiscal year. The Edward C. Dodez Scholarship provides financial support to Indiana students who attend Dartmouth College. Nine (9) students received $20,000 in Dodez scholarship awards during the fiscal year. Gregory Hosler Wilson Grant provides scholarship assistance to graduates of Allen County high schools who are Questa Scholars and demonstrate significant financial need. Recipients must have completed two semesters of college and evidence an exceptional work ethic and a high measure of perseverance. Four (4) students received Wilson scholarships for a total of $10,000 during the fiscal year. Walter and Lucile Beckman Grant provides scholarship assistance to Questa Scholars who are pursuing education and/or social science degrees. Recipients must have completed two semesters of college and have a GPA of at least 3.0. Four (4) student received Beckman scholarships during the fiscal year, for a total of $10,000.