Higher Quest Foundation Inc
Higher Quest Foundation Inc. reports $300,000 in revenue with minimal expenses in its latest filing.
EIN: 203406697 · Goose Creek, SC · NTEE: T30 · Updated: 2026-03-28
Is Higher Quest Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Higher Quest Foundation Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Higher Quest Foundation Inc
Higher Quest Foundation Inc (EIN: 203406697) is a nonprofit organization based in Goose Creek, SC, classified under NTEE code T30. The organization reported total revenue of $300K and total assets of $432K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Higher Quest Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Higher Quest Foundation Inc is a small nonprofit that has been operating for 20 years, with 11 years of IRS 990 filings on record (2011–2021). Revenue has grown at a compound annual rate of 22.0%.
Key Financial Metrics (2021)
From the most recent IRS 990 filing on record:
| Total Revenue | $300K |
| Total Expenses | $1K |
| Surplus / Deficit | +$299K |
| Total Assets | $432K |
| Net Assets | $432K |
| Operating Margin | 99.5% |
| Months of Reserves | 3701.4 months |
Financial Health Grade: A
In 2021, Higher Quest Foundation Inc reported a surplus of $299K with revenue exceeding expenses, holds 3701.4 months of operating reserves (strong position).
Financial Trends
Over 11 years of filings (2011–2021), Higher Quest Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 22.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2021 | +1064.5% | -75.3% | +223.1% |
| 2019 | -185.1% | -35.0% | -18.8% |
| 2018 | -17.2% | -54.7% | +3.0% |
| 2017 | +101.8% | +153.7% | -7.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Higher Quest Foundation Inc with a Mission Score of 70 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Higher Quest Foundation Inc allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2021)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $299K, with revenue exceeding expenses.
Executive Compensation Analysis
No officer compensation has been reported across all available filings, suggesting a volunteer-led organization or that compensation is not being reported under the 'officer compensation' line item, which could obscure true administrative costs.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Higher Quest Foundation Inc's IRS 990 filings:
- Extremely low expense ratio in 202112, making program efficiency difficult to assess.
- Inconsistent revenue generation over multiple periods, including negative revenue in 201912.
- Lack of reported officer compensation across all filings, potentially obscuring leadership costs.
Strengths
The following positive indicators were identified for Higher Quest Foundation Inc:
- Strong asset growth from $133,847 to $432,445 in the latest period.
- Zero reported liabilities across all filings, indicating a healthy balance sheet.
- Significant revenue increase in the latest filing ($300,000), suggesting increased donor support or funding.
Frequently Asked Questions about Higher Quest Foundation Inc
Is Higher Quest Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Higher Quest Foundation Inc (EIN: 203406697) some concerns. Mission Score: 70/100. 3 red flags identified, 3 strengths noted.
How does Higher Quest Foundation Inc spend its money?
Higher Quest Foundation Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Higher Quest Foundation Inc tax-deductible?
Higher Quest Foundation Inc is registered as a tax-exempt nonprofit (EIN: 203406697). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Why were expenses so low ($1,402) compared to revenue ($300,000) in the 202112 filing?
The significant disparity between revenue and expenses in 202112 suggests that the organization either retained a large portion of its income for future use or that its operational costs are extremely low, which requires further clarification on how funds are being utilized or accumulated.
How does Higher Quest Foundation Inc. operate without reporting any officer compensation?
The consistent reporting of 0% officer compensation across all filings indicates that the organization may be entirely volunteer-run at the executive level, or that compensation is being reported under other expense categories, which would impact transparency.
What programs or activities did the $1,402 in expenses support in 202112?
With such minimal expenses, it's unclear what specific programmatic or administrative activities were funded. Further detail would be needed to understand the impact of these expenditures.
What caused the negative revenue of $-16,419 in the 201912 period?
A negative revenue figure typically indicates a return of funds, significant losses, or adjustments that exceeded incoming contributions. Understanding the cause is crucial for assessing financial stability.
Filing History
IRS 990 filing history for Higher Quest Foundation Inc showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2011–2021), Higher Quest Foundation Inc's revenue has grown by 628.2%, moving from $41K to $300K. Total assets increased by 1162.1% over the same period, from $34K to $432K. Total functional expenses fell by 89.6%, from $13K to $1K. In its most recent filing year (2021), Higher Quest Foundation Inc reported a surplus of $299K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2021 | $300K | $1K | $432K | $0 | — | View 990 |
| 2020 | $26K | $6K | $134K | $0 | — | — |
| 2019 | $-16,419 | $10K | $114K | $0 | — | View 990 |
| 2018 | $19K | $15K | $140K | $0 | — | View 990 |
| 2017 | $23K | $34K | $136K | $0 | — | View 990 |
| 2016 | $12K | $13K | $146K | $0 | — | View 990 |
| 2015 | $18K | $35K | $147K | $0 | — | View 990 |
| 2014 | $15K | $15K | $162K | $0 | — | View 990 |
| 2013 | $13K | $17K | $164K | $0 | — | View 990 |
| 2012 | $147K | $13K | $167K | $0 | — | View 990 |
| 2011 | $41K | $13K | $34K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2021: Revenue of $300K, expenses of $1K, and assets of $432K (revenue +1064.5% year-over-year).
- 2020: Revenue of $26K, expenses of $6K, and assets of $134K.
- 2019: Revenue of $-16,419, expenses of $10K, and assets of $114K (revenue -185.1% year-over-year).
- 2018: Revenue of $19K, expenses of $15K, and assets of $140K (revenue -17.2% year-over-year).
- 2017: Revenue of $23K, expenses of $34K, and assets of $136K (revenue +101.8% year-over-year).
- 2016: Revenue of $12K, expenses of $13K, and assets of $146K (revenue -37.1% year-over-year).
- 2015: Revenue of $18K, expenses of $35K, and assets of $147K (revenue +21.1% year-over-year).
- 2014: Revenue of $15K, expenses of $15K, and assets of $162K (revenue +14.2% year-over-year).
- 2013: Revenue of $13K, expenses of $17K, and assets of $164K (revenue -90.9% year-over-year).
- 2012: Revenue of $147K, expenses of $13K, and assets of $167K (revenue +255.8% year-over-year).
- 2011: Revenue of $41K, expenses of $13K, and assets of $34K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Higher Quest Foundation Inc:
Data Sources and Methodology
This transparency report for Higher Quest Foundation Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.