CENTER FOR QUALITY EDUCATION

EIN: 521226769 501(c)(3) Education

EARLYSVILLE, VA

Total Revenue
$2,103
Total Expenses
$16,409
Total Assets
$484,667
Net Assets
$484,667
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
1981
Legal Domicile
VA
Principal Officer
L PRESTON THOMAS
Phone
4349736851
Tax Period
2019-07-01 to 2020-06-30

CENTER FOR QUALITY EDUCATION, founded in 1981, is a micro nonprofit in the Education sector that reported $5K in total revenue in fiscal year 2018. Revenue decreased 20% compared to the prior year. Expenses of $21K exceeded revenue, resulting in a 310% operating deficit.

Mission

TUTORING AND RELIGIOUS EDUCATION, TO INCLUDE COUNSELING, CLASSES, AND PUBLISHING.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2019)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $525
Investment Income $494
Other Revenue $1,084
TOTAL REVENUE $2,103

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $14,008
Other Expenses $16,409
TOTAL EXPENSES $16,409

Year-over-Year Comparison

2019 2018 Change
Revenue $2,103 $5,088 -0.6%
Expenses $16,409 $20,886 -0.2%
Net Income $-14,306 $-15,798 -0.1%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
3
Independent Members
3
Employees
N/A
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
2
$0
Total Directors
3
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ROBERT F GALIONE TRUSTEE 1.00
Director
$0 $0 $0
L PRESTON THOMAS PRESIDENT 1.00
Officer Director
$0 $0 $0
KATHERINE W THOMAS VP/SEC/TREAS 1.00
Officer Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2020 $2,103 $16,409 $484,667 $-14,306
2019 $5,088 $20,886 $497,654 $-15,798
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