Questa Education Foundation
Meets Standards
Standards For Charity Accountability
Governance
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Board Oversight
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Board Size
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Board Meetings
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Board Compensation
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Conflict of Interest
Measuring Effectiveness
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Effectiveness Policy
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Effectiveness Report
Finances
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Program Expenses
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Fundraising Expenses
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Accumulating Funds
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Audit Report
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Detailed Expense Breakdown
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Accurate Expense Reporting
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Budget Plan
Fundraising & Info
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Truthful Materials
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Annual Report
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Website Disclosures
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Donor Privacy
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Cause Marketing Disclosures
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Complaints
Questa Education Foundation meets the 20 Standards for Charity Accountability.
Stated Purpose:
Questa Foundation for Education help individuals with financial need attain a college education, graduate with less debt, and become contributing members of northeast Indiana's workforce.
Year, State Incorporated:
1946, IN
Originally established over 80 years ago by R. Nelson Snider, principal of South Side High School, and later incorporated as the Fort Wayne Educational Foundation, Questa Foundation continues the tradition of providing affordable student loans and generous scholarships to support students in northeast Indiana as they pursue their college education. In 2007, Questa's board of directors adopted the Questa Scholars Program. The Questa Scholars Program provides up to $20,000 in college loans, over four years, for qualified high school graduates from Adams, Allen, DeKalb, Huntington, Kosciusko, LaGrange, Noble, Steuben, Whitley, Wabash and Wells counties and will forgive up to 50 percent of the loan if a student graduates with a 2.75 cumulative GPA and lives and works in northeast Indiana for at least five years after college. The northeast Indiana region for residency and employment purposes consists of Adams, Allen, DeKalb, Huntington, Kosciusko, LaGrange, Noble, Steuben, Wabash, Wells, and Whitley. The Questa Scholars program is funded by multiple local contributors. The majority of funding for Questa Foundation for Education originated from an endowment by John Milton Rosenthal, Jr. to fund low interest student loans. In 2007, Questa's board of directors agreed to use a significant portion of the Foundation's endowed funding to initiate the Questa Scholars program over a long term. This was done to demonstrate the success of the model to encourage others to join in to support this vital program for our community and region. This unique program requires sustainable multi-year funding. Other funding by local organizations located in northeast Indiana is restricted to specific counties, university institutions and courses of study. In the spirit of total transparency, if you have questions, please feel free to contact us directly at 260.407.6494. Questa Foundation for Education assists young people with financial need to attain a college education, graduate with less debt and become contributing members of northeast Indiana's workforce. The Questa Foundation has evolved its strategies and grown the resources available while maintaining a consistent commitment to the original mission and vision. Currently, the majority of the resources are dedicated towards increasing the access to post secondary education while both reducing the debt and retaining talent in region. This forgivable loan strategy which is also combined with partner institutions of higher education now has approximately 400 students engaged in two year and four year degree programs across Indiana. The loan portion can forgive up to half of loan amount if the student upon graduation lives and works in northeast Indiana for five years. An additional twenty-five percent is upon graduation paid for by the regional partner institution resulting in potential reduction of between 50%-75% of the loan.
For the year ended June 30, 2024, Questa Education Foundation's program expenses were:
| Questa Scholars | $2,980,165 |
| Scholarships | $179,493 |
| Total Program Expenses | $3,159,658 |
Chief Executive
Elizabeth Bushnell, Executive Director
Compensation*
$128,976
Chair of the Board
Ian Boyce, Principal Owner
Chair's Profession / Business Affiliation
Dickmeyer Boyce Financial Management
Board Size
18
Paid Staff Size
10
* Compensation includes annual salary and, if applicable, benefit plans, expense accounts and other allowances.
Method(s) Used:
Direct mail appeals, Door-to-door solicitation, Special events, Grant proposals, Internet, Radio
This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
The following information is based on Questa Education Foundation's audited financial statements for the year ended June 30, 2024.
Source of Funds
| Contributions | $3,582,344 |
| Investment Return | $1,135,095 |
| Administrative Fees | $283,544 |
| Interest Income on Cash Accounts | $110,903 |
| Interest Income on Loans and Late Payment Fees | $42,726 |
| Change in Value of Beneficial Interest in Funds Held at Community Foundations | $23,229 |
| Total Income | $5,177,841 |
Programs: 95% Fundraising: 3% Administrative: 3%
| Total Income | $5,177,841 |
| Total expenses: | $3,337,936 |
| Program expenses | $3,159,658 |
| Fundraising expenses | $92,304 |
| Administrative expenses | $85,974 |
| Other expenses | $0 |
| Income in Excess of Expenses | $1,839,905 |
| Beginning Net Assets | $16,323,942 |
| Other Changes In Net Assets | $0 |
| Ending Net Assets | $18,163,847 |
| Total Liabilities | $218,868 |
| Total Assets | $18,382,715 |
An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the International Association of Better Business Bureaus.
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Meets Standards
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Standards Not Met
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Did Not Disclose
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Review in Progress
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Unable to Verify
Report completed by:
BBB Serving Northern Indiana