Quality Education Academy

EIN: 562017872 501(c)(3) Education

Winston Salem, NC

Total Revenue
$8,985,113
Total Expenses
$9,630,110
Total Assets
$3,743,620
Net Assets
$3,560,633
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1997
Legal Domicile
NC
Principal Officer
Tamara Turner
Phone
3367440804
Tax Period
2022-07-01 to 2023-06-30

Quality Education Academy, founded in 1997, is a community nonprofit in the Education sector that reported $9.0M in total revenue in fiscal year 2022.

Mission

Operation of a public charter school.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $2,135,033
Program Service Revenue $6,850,080
Investment Income $0
Other Revenue $0
TOTAL REVENUE $8,985,113

Expense Breakdown

Grants Paid $0
Salaries & Benefits $6,186,896
Fundraising Expenses $0
Program Expenses $8,036,733
Other Expenses $3,443,214
TOTAL EXPENSES $9,630,110

Year-over-Year Comparison

2022 2021 Change
Revenue $8,985,113 $9,300,319 0.0%
Expenses $9,630,110 $9,816,064 0.0%
Net Income $-644,997 $-515,745 +0.3%
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

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
9
Independent Members
8
Employees
130
Volunteers
50

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
1
$0
Total Directors
9
$107,000
Key Employees
1
$107,000
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Tamara Turner CEO 040.00
Director Key Emp
$107,000 $0 $107,000
Dr Jefferson Caruthers Chairman 002.50
Officer Director
$0 $0 $0
Adolphus Coplin Board Member 001.00
Director
$0 $0 $0
J Luther Covington Board Member 001.00
Director
$0 $0 $0
John Foxworth Board Member 001.00
Director
$0 $0 $0
James Gadson Board Member 001.00
Director
$0 $0 $0
Ronald Jessup Board Member 001.00
Director
$0 $0 $0
Dr Kendra March Board Member 001.00
Director
$0 $0 $0
Walter Weathers Board Member 001.00
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
2025 No data No data No data No data
2024 No data No data No data No data
2023 $8,985,113 $9,630,110 $3,743,620 $-644,997
2022 $9,300,319 $9,816,064 $4,413,479 $-515,745
2021 $8,077,543 $7,302,066 $4,727,088 $775,477
2020 $5,860,891 $6,731,509 $4,607,378 $-870,618
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