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Institute for Quality Education Inc

EIN 35-1836687 · Indianapolis, IN

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthFair64 out of 100GovernanceStrong90 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

THE ORGANIZATION PROVIDES TUITION ASSISTANCE TO LOW-INCOME STUDENTS, SERVES AS A MODEL FOR RESEARCH AND LEGISLATION, AND ENCOURAGES ALL SCHOOLS TO IMPROVE BY INTRODUCING COMPETITION INTO THE SYSTEM. THE ORGANIZATION CONDUCTS RESEARCH AND ANALYSIS ABOUT THE PRIMARY (K-12) EDUCATIONAL SYSTEM IN INDIANA INCLUDING BUT NOT LIMITED TO SCHOOL CHOICE AS IT EXISTS IN MANY FORMS THROUGHOUT THE UNITED STATES AND ELSEWHERE; AND EDUCATES THE GENERAL PUBLIC AND, IN PARTICULAR, INDIANA RESIDENTS ABOUT THE PRIMARY (K-12) EDUCATIONAL SYSTEM IN INDIANA AND THEIR EDUCATIONAL OPTIONS.

Income
$14.6 million
Spending
$15.6 million
Spent on programs
97%
Reserves
3 months of spending
Largest source of income
donations and private grants, 100%
Employees
11
Volunteers
7
Highest pay
$223,234, president

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Fair: 64 out of 100. Higher than 54% of charities in its peer group (education, $10m to $100m).

  • Reserves

    20 of 35

    Spendable reserves would cover 3.0 months of spending.

  • Debt

    20 of 20

    It owes 2% of what it owns.

  • Living within its means

    4 of 15

    Spending exceeded income by 7% of income.

  • Income trend

    5 of 15

    Income fell 11% on the year before.

  • Spending floor

    15 of 15

    97% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 90 out of 100. Higher than 25% of charities in its peer group (education, $10m to $100m).

  • Independent board

    25 of 25

    7 of 7 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    0 of 10

    Did not give the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (3)
  1. $15.1 million spent. SCHOLARSHIP GRANTING ORGANIZATION, WHICH IS CERTIFIED BY THE INDIANA DEPARTMENT OF EDUCATION, GRANTS SCHOOL SCHOLARSHIPS TO CHILDREN TO ASSIST IN TUITION AND FEES. FOR THE YEAR ENDED 6/30/2025, 6,224 STUDENTS RECIEVED SCHOLARSHIPS.
  2. IN ADDITION TO PROVIDING TUITION ASSISTANCE TO LOW INCOME FAMILIES, THE ORGANIZATION SERVES WORKS WITH OVER 85% OF THE CHARTER SCHOOLS IN THE STATE BY CONVENING AND LEADING THE INDIANA CHARTER SCHOOL NETWORK.
  3. THE ORGANIZATION WORKS TO DEVELOP, ADVOCATE AND IMPLEMENT K-12 EDUCATION POLICIES AT THE STATE LEVEL TO HELP SUPPORT EDUCATIONAL FREEDOM FOR ALL HOOSIER FAMILIES AND EDUCATORS. THE ORGANIZATION WORKS TO EDUCATE FAMILIES, EDUCATORS, COMMUNITY LEADERS CITIZENS, AND POLICY MAKERS IN THE IMPORTANCE OF ACCESS TO A HIGH QUALITY EDUCATION FOR ALL OF INDIANA'S STUDENTS SO THEY EACH MAY LEARN IN AN ENVIRONMENT THAT BEST MEETS THEIR UNIQUE LEARNING NEEDS AND ALLOWS THEM THE OPPORTUNITY TO REACH THEIR FULL POTENTIAL.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending June 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since November 1991.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.