Civic Intelligence

Massachusetts Higher Education Assistance Corporation

990 • Fiscal year 2023 • EIN 04-2254705

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 11, 2024

Organization ProfileWWW.ASA.ORG

View Organization Page

33 Arch Street 2100Boston, MA 02110

(617) 728-4549

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

24th percentile

0.13x

Higher debt load relative to assets than 24% of similar nonprofits.

2023 filings • 501(c)3 • $1B+ nonprofits • Source year 2023

Liabilities / Revenue

75th percentile

1.16x

Higher debt load relative to revenue than 75% of similar nonprofits.

2023 filings • 501(c)3 • $1B+ nonprofits • Source year 2023

Net Margin

80th percentile

16%

Higher net margin than 80% of similar nonprofits.

2023 filings • 501(c)3 • $1B+ nonprofits • Source year 2023

Top Officer Pay

21st percentile

$816,676

Higher top officer pay than 21% of similar nonprofits.

Top officer pay equals 0.7% of source-year revenue.

2023 filings • 501(c)3 • $1B+ nonprofits • Source year 2023

Asset Growth

75th percentile

11%

Faster asset growth than 75% of similar nonprofits.

2023 filings • 501(c)3 • $1B+ nonprofits • Annualized from 2022 to 2023

Revenue Growth

93rd percentile

38%

Faster revenue growth than 93% of similar nonprofits.

2023 filings • 501(c)3 • $1B+ nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets24th percentile

Assets

Up

$1,045,185,472

Up $100,007,108 (+11%) from 2022

Net Assets

Up

$914,004,230

Up $94,405,392 (+12%) from 2022

Liabilities

Up

$131,181,242

Up $5,601,716 (+4.5%) from 2022

Revenue And Expenses
Liabilities / Revenue75th percentileNet Margin80th percentile

Revenue

Up

$113,123,004

Up $31,202,648 (+38%) from 2022

Expenses

Up

$95,095,168

Up $25,791,734 (+37%) from 2022

Net Income

Up

$18,027,836

Up $5,410,914 (+43%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth75th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5B$1.0B$500M$0Assets 2010: $170,423,324Liabilities 2010: $50,488,132Net Assets 2010: $119,935,1922010Assets 2011: $235,276,009Liabilities 2011: $41,098,609Net Assets 2011: $194,177,4002011Assets 2012: $319,114,168Liabilities 2012: $57,281,543Net Assets 2012: $261,832,6252012Assets 2013: $375,475,421Liabilities 2013: $49,861,337Net Assets 2013: $325,614,0842013Assets 2014: $438,151,601Liabilities 2014: $50,151,465Net Assets 2014: $388,000,1362014Assets 2015: $471,225,108Liabilities 2015: $40,624,726Net Assets 2015: $430,600,3822015Assets 2016: $511,519,912Liabilities 2016: $55,504,324Net Assets 2016: $456,015,5882016Assets 2017: $586,643,442Liabilities 2017: $50,821,907Net Assets 2017: $535,821,5352017Assets 2018: $638,276,258Liabilities 2018: $34,261,840Net Assets 2018: $604,014,4182018Assets 2019: $751,861,840Liabilities 2019: $20,131,198Net Assets 2019: $731,730,6422019Assets 2020: $828,363,737Liabilities 2020: $18,155,690Net Assets 2020: $810,208,0472020Assets 2021: $1,090,709,677Liabilities 2021: $145,522,363Net Assets 2021: $945,187,3142021Assets 2022: $945,178,364Liabilities 2022: $125,579,526Net Assets 2022: $819,598,8382022Assets 2023: $1,045,185,472Liabilities 2023: $131,181,242Net Assets 2023: $914,004,2302023Assets 2024: $1,113,821,909Liabilities 2024: $127,150,763Net Assets 2024: $986,671,1462024

Highlighted filing

2023

Assets$1,045,185,472
Liabilities$131,181,242
Net Assets$914,004,230
Open 2023 Filing

Operations Trend

Revenue Growth93rd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$300M$200M$100M$0Expenses 2010: $119,512,1242010Expenses 2011: $124,185,4292011Expenses 2012: $173,126,1022012Revenue 2013: $233,562,352Expenses 2013: $184,982,412Net Income 2013: $48,579,9402013Revenue 2014: $265,705,373Expenses 2014: $169,255,963Net Income 2014: $96,449,4102014Revenue 2015: $176,374,512Expenses 2015: $138,603,816Net Income 2015: $37,770,6962015Revenue 2016: $164,797,110Expenses 2016: $124,142,289Net Income 2016: $40,654,8212016Revenue 2017: $147,686,758Expenses 2017: $133,793,648Net Income 2017: $13,893,1102017Revenue 2018: $124,045,497Expenses 2018: $86,528,850Net Income 2018: $37,516,6472018Revenue 2019: $127,223,003Expenses 2019: $85,562,817Net Income 2019: $41,660,1862019Revenue 2020: $83,119,077Expenses 2020: $70,563,660Net Income 2020: $12,555,4172020Revenue 2021: $124,087,298Expenses 2021: $79,908,993Net Income 2021: $44,178,3052021Revenue 2022: $81,920,356Expenses 2022: $69,303,434Net Income 2022: $12,616,9222022Revenue 2023: $113,123,004Expenses 2023: $95,095,168Net Income 2023: $18,027,8362023Revenue 2024: $153,640,929Expenses 2024: $114,855,624Net Income 2024: $38,785,3052024

Highlighted filing

2023

Revenue$113,123,004
Expenses$95,095,168
Net Income$18,027,836
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 11, 2024
Return Version
2023v5.1
Gross Receipts
$493,638,295
Mission and Program Overview

Mission

The organization's primary exempt purpose is to provide access to and conduct activities in furtherance of higher education.

Provide access to and conduct activities in furtherance of higher education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$741,454,651$833,758,586▲ $92,303,935
Investments Other Securities$87,409,909$135,920,618▲ $48,510,709
Savings and Temporary Cash Investments$69,101,017--
Accounts Receivable$3,695,536$30,766,313▲ $27,070,777
Cash and Non-Interest-Bearing Accounts$16,092,362$21,873,231▲ $5,780,869
Land, Buildings, and Equipment, Net$10,675,387$9,775,222▼ $900,165
Prepaid Expenses and Deferred Charges$1,923,992$1,587,803▼ $336,189
Total Assets$945,178,364$1,045,185,472▲ $100,007,108
Other Assets Total$14,825,510$11,503,699▼ $3,321,811
Liabilities
Unsecured Notes Loans Payable$99,155,703$99,258,561▲ $102,858
Accounts Payable and Accrued Expenses$24,912,577$30,328,718▲ $5,416,141
Other Liabilities$1,511,246$1,593,963▲ $82,717
Total Liabilities$125,579,526$131,181,242▲ $5,601,716
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$819,598,838$914,004,230▲ $94,405,392
Total Net Assets Fund Balance$819,598,838$914,004,230▲ $94,405,392
Total Liabilities and Net Assets / Fund Balance$945,178,364$1,045,185,472▲ $100,007,108

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$7,350,339$7,805,906$15,156,245
Leasehold Improvements$2,408,380$1,291,959$3,700,339
Equipment$16,503$582,199$598,702
Other Securities$16,927,908--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$158,237,174$-158,237,174---
2020$138,154,558-▲ $20,082,616-$158,237,174
2019$112,546,240-▲ $25,611,554-$138,154,558
Compensation and Service Providers
Top Officer Pay21st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jean EddyPresident/CEO/directorFT$490,880$325,796$816,676
Rilwan MeeranVP Mission Impact InvestmeFT$284,681$228,428$513,109
Angeline L CasteraChief People OfficerFT$267,516$171,928$439,444
Clay ColarussoCMO & SVP Digital StrategyFT$266,350$163,807$430,157
Cameron F Logan PhdVice President of TechnologyFT$262,671$142,817$405,488
John Christopher SheehanVP & General CounselFT$270,774$132,074$402,848
Julie LammersSVP Advocacy Corp RespFT$241,350$160,548$401,898
Barbara MatezEvp & CFO (until 5/23)FT$228,060$169,066$397,126
Alisa WilkeSVP Product DevelopmentFT$232,796$161,156$393,952
Judy GoldsteinSVP Public Relations CommunicationsFT$239,916$150,767$390,683
Carmela CaplainVice President of FinanceFT$220,330$117,765$338,095
Kyle G MorinVP, Head of FinanceFT$191,445$123,736$315,181
James G SmithVice President of MarketingFT$196,705$94,480$291,185
Andrew DykeSr. Director of TechnologyFT$212,565$60,219$272,784
Lee WaldvogelSr Program Director PartnersFT$161,325$93,004$254,329
Alan WhiteSr. Director Str Res Data AnalysisFT$167,840$85,495$253,335
Michael D GrantSenior Director of FinanaceFT$168,205$65,051$233,256
Sandy DawkinsPmo Program DirectorFT$155,119$61,141$216,260
Lawrence H GennariDir/chair of Board/chair-$75,500-$75,500
Carol FulpDirector/chair of Compensation-$70,500-$70,500
Ken JonesDir./chair of Audit Committee-$60,500-$60,500
Carla ThompsonDir/chair of Impact Investing-$60,500-$60,500
Thomas GrafDir./chair of Inv Committee-$53,000-$53,000
Alex RappaportDirector-$50,000-$50,000
Emily MccannDirector-$50,000-$50,000
Patty Diaz-andradeDirector-$50,000-$50,000
Stephanie CrimminsDirector-$50,000-$50,000
Daniel AcheampongDirector-$12,500-$12,500
Margaret NgDirector-$12,500-$12,500

Highest Paid Contractors

ContractorServicesLocationCompensation
EcmcGuarantor Services111 WASHINGTON AVENUE SOUTH, Minneapolis, MN 55401, Uk$19,950,208
Devito Verdi INCConsulting Services330 HUDSON ST 16TH FLOOR, New York, NY 10013$3,100,059
Tiktok INCSocial MediaPO BOX 894476, Los Angeles, CA 90189$2,188,458
Alliants LimitedData Engineering30 3RD STREET, San Francisco, CA 94103$1,872,031
Tapjoy INCSocial Media-$1,822,822
Revenue and Support

Revenue Composition

Contributions and Grants
$410,773
Program Service Revenue
$85,077,064
Investment Income
$27,481,673
Other Revenue
$153,494
Change in Net Assets
$18,027,836

Audited Revenue Reconciliation

Revenue per Audited Statements
$109,465,507
Revenue Not Reported on Financial Statements
$3,657,497
Revenue Not Reported on Form 990
$76,375,248
Total Revenue per Audited Statements
$185,840,755
Total Revenue per Form 990
$113,123,004
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$70,295,808
Salaries, Compensation, and Employee Benefits$15,549,019
Grants and Similar Amounts Paid$9,250,341
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising$12,180,597--$12,180,597
Grants to Domestic Orgs$9,250,341--$9,250,341
Other Salaries and Wages$6,268,607$1,567,152-$7,835,759
Current Officers, Directors, Trustees, and Key Employees$4,005,369$1,531,026-$5,536,395
Information Technology$3,122,533$780,632-$3,903,165
Fees for Service Investment Mgmnt Fees$115,802$3,686,447-$3,802,249
Depreciation Depletion$2,754,047$688,511-$3,442,558
Interest$2,220,687$555,171-$2,775,858
Other Expenses$2,084,641$521,160-$2,605,801
All Other Expenses$1,549,910$387,477-$1,937,387
Occupancy$1,535,302$383,824-$1,919,126
Insurance$1,068,430$267,107-$1,335,537
Fees for Services Management$954,419$242,398-$1,196,817
Other Employee Benefits$913,999$228,500-$1,142,499
Payroll Taxes$827,494$206,872-$1,034,366
Fees for Services Legal$732,160$183,040-$915,200
Travel$517,997$129,499-$647,496
Fees for Services Accounting$224,888$56,222-$281,110
Office Expenses$146,438$36,609-$183,047
Total Functional Expenses$82,249,843$12,845,325$0$95,095,168

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$95,095,168
Expenses per Audited Statements$91,437,671
Total Expenses per Audited Statements$91,437,671
Expenses Not Reported on Financial Statements$3,657,497
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
New Venture Fund - Catalyze ChallengeWashington, DC501(c)(3)Career Exploration$1,500,000
Network for Teaching EntrepreneurshipNew York, NY501(c)(3)Career Exploration$1,000,000
Rodel Foundation of DelawareWilmington, DE501(c)(3)Career Exploration$566,666
Big Picture LearningProvidence, RI501(c)(3)Work-based Learning$500,000
Free to Dream InstituteLos Angeles, CA501(c)(3)Influencing Change$500,000
New Profit IncBoston, MA501(c)(3)Postsecondary Pathways$500,000
US Chamber of Commerce FoundationWashington, DC501(c)(3)Work-based Learning$500,000
NafNew York, NY501(c)(3)Work-based Learning$400,000
Gps Education Partners IncWaukesha, WI501(c)(3)Work-based Learning$300,000
Icouldbe IncNew York, NY501(c)(3)Career Exploration$220,000
Connected the National Center for College and CareerBerkeley, CA501(c)(3)Postsecondary Pathways$200,000
Mastery Transcript ConsortiumWinchester, MA501(c)(3)Work-based Learning$200,000
The Center for Black Educator DevelopmentElkins Park, PA501(c)(3)Career Exploration$200,000
Apprentice LearningJamaica Plain, MA501(c)(3)Work-based Learning$150,000
Benjamin Franklin Cummings Institute of TechnologyBoston, MA501(c)(3)Postsecondary Pathways$150,000
Community ShareTucson, AZ501(c)(3)Work-based Learning$150,000
The Massachusetts Alliance for Early CollegeWeston, MA501(c)(3)Postsecondary Pathways$150,000
Caps Network IncOverland Park, KS501(c)(3)Work-based Learning$145,000
Bric FoundationNorth Hollywood, CA501(c)(3)Career Exploration$125,000
Chica ProjectQuincy, MA501(c)(3)Work-based Learning$100,000
Flare Education IncCambridge, MA501(c)(3)Work-based Learning$100,000
International Rescue CommitteeNew York, NY501(c)(3)Career Exploration$100,000
Junior Acheivement of Greater BostonBoston, MA501(c)(3)Career Exploration$100,000
Rennie Center for Education Research and PolicyBoston, MA501(c)(3)Education Research$100,000
America SucceedsDenver, CO501(c)(3)Career Readiness$50,000
The Massachusetts Alliance for Early CollegeWeston, MA501(c)(3)Postsecondary Pathways$25,000
Cobble Hill Farm Education & Rescue Center IncWilliamstown, MA501(c)(3)Work-based Learning$10,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Reserve for Contingencies$1,381,782
Other$212,181
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 4

“The organization's governing documents were modified in order to align with the organization's supporting organization status.”

Form 990, Part VI, Section B, Line 11B

“The form 990 is prepared by cbiz mhm, llc our national tax services firm with information provided by the accounting manager and vice president, head of finance. The form 990 is reviewed by the accounting manager, vice president, head of finance, vice president general counsel, and the president/ceo. The fully completed form 990 is provided to the audit committee for review and approval and then provided to the entire board of directors for review and approval before it is electronically submitted to the internal revenue service.”

Form 990, Part VI, Section B, Line 12C

“All officers, board members and key employees shall annually sign a statement which affirms that the person; has received a copy of the conflicts of interest policy, has read and understands the policy, and has agreed to comply with the policy. In addition, each director, principal officer and member of a committee with board-assigned powers shall list his or her business affiliations, including memberships on boards of other non-profit institutions, and shall also disclose any business relationships that members of his or her family have or are seeking with american student assistance. He or she shall also update the statement as appropriate during the year.”

Form 990, Part VI, Section B, Line 15

“Compensation reviews for the top management officials (president/ceo, executive vice president and cfo) and members of senior management staff are conducted annually by the compensation committee of the board of directors. Senior management staff consists of all vice presidents and managing directors of the organization. Periodically, an in-depth market benchmarking study is compiled for each senior staff position, including the ceo and cfo, utilizing published, independent, third-party compensation surveys to compare current base salaries and total compensation with the same or similar positions in the boston geographic area, in similar-sized organizations, primarily in the financial services, education and not-for-profit sectors. On a bi-annual basis, the human resources department also examines form 990 data from similar organizations and also obtains a separate compensation analysis with comparative market data from an independent compensation consultant. This comparability data is synthesized into a detailed report with the market ranges and each incumbent's position in the range and includes comparative base salary and total compensation market data. This report is presented to the president/ceo and the cfo who consider the data and make decisions regarding individual senior management merit salary increases. The ceo presents the full report along with their performance reviews and salary recommendations to the members of the compensation committee comprised of independent board members. The compensation committee discusses the ceo's decisions for senior management staff. The ceo also reviews and makes a merit salary increase recommendation for the cfo, which is also presented to the compensation committee for their review and approval. The full board of directors uses the comparative market data to review and establish the compensation of the president/ceo. Any annual incentive bonus plans, though discretionary, are also approved in advance by the compensation committee and any payouts are determined by the compensation committee based on the results of previously established goals and criteria, overall company performance, comparison to market data, and subject to an annual cap. The deliberations and decisions of the compensation committee are recorded contemporaneously in the meeting minutes which are recorded and preserved by the special assistant to the president, along with the analysis data. Key employees are not included in the above-described compensation approval process. They are included in the overall process which includes employees under their management.”

Form 990, Part VI, Section C, Line 19

“The governing documents, conflict of interest policy and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Massachusetts Higher Education
EIN
04-2254705
Phone
6177284549
Address
33 ARCH STREET 2100, BOSTON, MA 02110
Doing Business As
American Student Assistance

Signing Officer

Name
Barbara Matez
Title
President/CEO/treasurer
Phone
6177284549
Signed
2024-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jean Eddy
Formed
1956
Legal Domicile
Ma
Voting Board Members
12
Independent Board Members
11
Employees
99
Volunteers
0

Preparer

Firm
Cbiz Advisors LLC
Address
500 BOYLSTON STREET, BOSTON, MA 02116
Preparer
Craig Klein
Phone
6177610600
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2

“The organization undetook a commitment to provide funding to its supporting organization.”

Financial Statement Notes

PART V, LINE 4:

“Asa previously established asa fund llc ("asa fund", also referred to as "new programs"), a single member llc established to hold funds designated by the board as a quasi-endowment for the benefit of the new programs. During 2021, asa's board of directors resolved to close asa fund as a separate entity and to transfer all assets and liabilities back to asa.”

PART X, LINE 2:

“Asa accounts for the effect of any uncertain tax positions based on a "more likely than not" threshold to the recognition of the tax positions being sustained based on the technical merits of the position under scrutiny by the applicable taxing authority. If a tax position or positions are deemed to result in uncertainties of those positions, the unrecognized tax benefit is estimated based on a "cumulative probability assessment" that aggregates the estimated tax liability for all uncertain tax positions. Asa has identified its tax status as a tax-exempt entity, its determination of which activities are related and unrelated and its presentation of certain net operating loss carryforwards as its only significant tax positions. Asa, however, has determined that its position relative to tax status or determination of which activities are related and unrelated does not result in an uncertainty requiring recognition. The position on loss carryforwards is uncertain and thus such carryforwards have not been recognized as tax assets. Asa is not currently under examination by any taxing jurisdiction. Asa's federal and state tax returns are generally open for examination for three years following the date filed.”

Raw XML AppendixShowing 400 of 1,334 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt3ALLIANTS LIMITED
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt4TAPJOY INC
IRS990/ContractorCompensationGrp/ServicesDesc0GUARANTOR SERVICES
IRS990/ContractorCompensationGrp/ServicesDesc1CONSULTING SERVICES
IRS990/ContractorCompensationGrp/ServicesDesc2SOCIAL MEDIA
IRS990/ContractorCompensationGrp/ServicesDesc3DATA ENGINEERING
IRS990/ContractorCompensationGrp/ServicesDesc4SOCIAL MEDIA
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IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt0410773
IRS990/CYGrantsAndSimilarPaidAmt09250341
IRS990/CYInvestmentIncomeAmt027481673
IRS990/CYOtherExpensesAmt070295808
IRS990/CYOtherRevenueAmt0153494
IRS990/CYProgramServiceRevenueAmt085077064
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IRS990/CYSalariesCompEmpBnftPaidAmt015549019
IRS990/CYTotalExpensesAmt095095168
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt0113123004
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IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DelegationOfMgmtDutiesInd00
IRS990/DepreciationDepletionGrp/ManagementAndGeneralAmt0688511
IRS990/DepreciationDepletionGrp/ProgramServicesAmt02754047
IRS990/DepreciationDepletionGrp/TotalAmt03442558
IRS990/Desc0MASSACHUSETTS HIGHER EDUCATION ASSISTANCE CORPORATION (MHEAC) RELIEVES THE BURDENS OF GOVERNMENT AND ASSISTS STUDENTS AND PARENTS IN SUCCESSFULLY COMPLETING A PROGRAM OF HIGHER EDUCATION BY CONTINUING TO ACT AS A GUARANTOR OF STUDENT LOANS MADE BY LENDERS, IN CONNECTION WITH THE FEDERAL HIGHER EDUCATION ACT OF 1965. IN ADDITION, MHEAC ENGAGES IN A VARIETY OF ACTIVITIES IN FURTHERANCE OF HIGHER EDUCATION, INCLUDING HELPING STUDENTS EXPLORE ALTERNATIVE EDUCATION PATHWAYS IN PURSUIT OF SUCCESSFUL AND FULFILLING CAREERS.
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IRS990/DocumentRetentionPolicyInd01
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IRS990/DonorRstrOrQuasiEndowmentsInd00
IRS990/ElectionOfBoardMembersInd00
IRS990/EmployeeCnt099
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IRS990/ExpenseAmt027359833
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditPerformedInd01
IRS990/FederalGrantAuditRequiredInd01
IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt056222
IRS990/FeesForServicesAccountingGrp/ProgramServicesAmt0224888
IRS990/FeesForServicesAccountingGrp/TotalAmt0281110
IRS990/FeesForServicesLegalGrp/ManagementAndGeneralAmt0183040
IRS990/FeesForServicesLegalGrp/ProgramServicesAmt0732160
IRS990/FeesForServicesLegalGrp/TotalAmt0915200
IRS990/FeesForServicesManagementGrp/ManagementAndGeneralAmt0242398
IRS990/FeesForServicesManagementGrp/ProgramServicesAmt0954419
IRS990/FeesForServicesManagementGrp/TotalAmt01196817
IRS990/FeesForSrvcInvstMgmntFeesGrp/ManagementAndGeneralAmt03686447
IRS990/FeesForSrvcInvstMgmntFeesGrp/ProgramServicesAmt0115802
IRS990/FeesForSrvcInvstMgmntFeesGrp/TotalAmt03802249
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IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt435650
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt100
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt110
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1275486
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1327026
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1438332
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1575214
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1662955
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1738081
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1858127
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1953718
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt2056603
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt2163618
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt2254576
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt2368998
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt2454285
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt2523579
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt2655418
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt2732729
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt2830911
IRS990/Form990PartVIISectionAGrp/PersonNm0ALEX RAPPAPORT
IRS990/Form990PartVIISectionAGrp/PersonNm1CARLA THOMPSON
IRS990/Form990PartVIISectionAGrp/PersonNm2CAROL FULP
IRS990/Form990PartVIISectionAGrp/PersonNm3EMILY MCCANN
IRS990/Form990PartVIISectionAGrp/PersonNm4JEAN EDDY
IRS990/Form990PartVIISectionAGrp/PersonNm5KEN JONES
IRS990/Form990PartVIISectionAGrp/PersonNm6LAWRENCE H GENNARI
IRS990/Form990PartVIISectionAGrp/PersonNm7PATTY DIAZ-ANDRADE
IRS990/Form990PartVIISectionAGrp/PersonNm8STEPHANIE CRIMMINS
IRS990/Form990PartVIISectionAGrp/PersonNm9THOMAS GRAF
IRS990/Form990PartVIISectionAGrp/PersonNm10MARGARET NG
IRS990/Form990PartVIISectionAGrp/PersonNm11DANIEL ACHEAMPONG
IRS990/Form990PartVIISectionAGrp/PersonNm12ANGELINE L CASTERA
IRS990/Form990PartVIISectionAGrp/PersonNm13BARBARA MATEZ
IRS990/Form990PartVIISectionAGrp/PersonNm14JOHN CHRISTOPHER SHEEHAN
IRS990/Form990PartVIISectionAGrp/PersonNm15ALISA WILKE
IRS990/Form990PartVIISectionAGrp/PersonNm16CAMERON F LOGAN PHD
IRS990/Form990PartVIISectionAGrp/PersonNm17CARMELA CAPLAIN
IRS990/Form990PartVIISectionAGrp/PersonNm18CLAY COLARUSSO
IRS990/Form990PartVIISectionAGrp/PersonNm19JAMES G SMITH
IRS990/Form990PartVIISectionAGrp/PersonNm20JUDY GOLDSTEIN
IRS990/Form990PartVIISectionAGrp/PersonNm21JULIE LAMMERS
IRS990/Form990PartVIISectionAGrp/PersonNm22KYLE G MORIN
IRS990/Form990PartVIISectionAGrp/PersonNm23RILWAN MEERAN
IRS990/Form990PartVIISectionAGrp/PersonNm24ALAN WHITE
IRS990/Form990PartVIISectionAGrp/PersonNm25ANDREW DYKE
IRS990/Form990PartVIISectionAGrp/PersonNm26LEE WALDVOGEL
IRS990/Form990PartVIISectionAGrp/PersonNm27SANDY DAWKINS
IRS990/Form990PartVIISectionAGrp/PersonNm28MICHAEL D GRANT
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt050000
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt160500
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt270500
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt350000
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt4781026
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt560500
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt675500
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt750000
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt850000
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt953000
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt1012500
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt12363958
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt13370100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt14364516
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt15318738
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt16342533
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt17300014
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt18372030
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt19237467
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20334080
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt21338280
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt22260605
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt23444111
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt24199050
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt25249205
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt26198911
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt27183531
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt28202345
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt170
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt180
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt190
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt200
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt210
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt220
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt230
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt240
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt250
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt260
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt270
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt280
IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIR/CHAIR OF IMPACT INVESTING
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR/CHAIR OF COMPENSATION
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4PRESIDENT/CEO/DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIR./CHAIR OF AUDIT COMMITTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIR/CHAIR OF BOARD/CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIR./CHAIR OF INV COMMITTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12CHIEF PEOPLE OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt13EVP & CFO (UNTIL 5/23)
IRS990/Form990PartVIISectionAGrp/TitleTxt14VP & GENERAL COUNSEL
IRS990/Form990PartVIISectionAGrp/TitleTxt15SVP PRODUCT DEVELOPMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt16VICE PRESIDENT OF TECHNOLOGY
IRS990/Form990PartVIISectionAGrp/TitleTxt17VICE PRESIDENT OF FINANCE
IRS990/Form990PartVIISectionAGrp/TitleTxt18CMO & SVP DIGITAL STRATEGY
IRS990/Form990PartVIISectionAGrp/TitleTxt19VICE PRESIDENT OF MARKETING
IRS990/Form990PartVIISectionAGrp/TitleTxt20SVP PUBLIC RELATIONS COMMUNICATIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt21SVP ADVOCACY CORP RESP
IRS990/Form990PartVIISectionAGrp/TitleTxt22VP, HEAD OF FINANCE
IRS990/Form990PartVIISectionAGrp/TitleTxt23VP MISSION IMPACT INVESTME
IRS990/Form990PartVIISectionAGrp/TitleTxt24SR. DIR. STR RES DATA ANALYSIS
IRS990/Form990PartVIISectionAGrp/TitleTxt25SR. DIRECTOR OF TECHNOLOGY
IRS990/Form990PartVIISectionAGrp/TitleTxt26SR PROGRAM DIR PARTNERS
IRS990/Form990PartVIISectionAGrp/TitleTxt27PMO PROGRAM DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt28SENIOR DIRECTOR OF FINANACE
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IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
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IRS990/GamingActivitiesInd00
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IRS990/GrantAmt0205817
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IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
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IRS990/GrossReceiptsAmt0493638295
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IRS990/IndivRcvdGreaterThan100KCnt041
IRS990/IndoorTanningServicesInd00
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IRS990/InfoInScheduleOPartVIInd0X
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IRS990/InformationTechnologyGrp/ProgramServicesAmt03122533
IRS990/InformationTechnologyGrp/TotalAmt03903165
IRS990/InsuranceGrp/ManagementAndGeneralAmt0267107
IRS990/InsuranceGrp/ProgramServicesAmt01068430
IRS990/InsuranceGrp/TotalAmt01335537
IRS990/InterestGrp/ManagementAndGeneralAmt0555171
IRS990/InterestGrp/ProgramServicesAmt02220687
IRS990/InterestGrp/TotalAmt02775858
IRS990/InvestmentIncomeGrp/ExclusionAmt025613152
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt025612907
IRS990/InvestmentIncomeGrp/UnrelatedBusinessRevenueAmt0-245
IRS990/InvestmentInJointVentureInd00
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IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt0135920618
IRS990/InvestmentsPubTradedSecGrp/BOYAmt0741454651
IRS990/InvestmentsPubTradedSecGrp/EOYAmt0833758586
IRS990/IRPDocumentCnt064
IRS990/IRPDocumentW2GCnt00
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IRS990/LandBldgEquipBasisNetGrp/EOYAmt09775222
IRS990/LandBldgEquipCostOrOtherBssAmt019455286
IRS990/LegalDomicileStateCd0MA
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt0380515291
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS TO PROVIDE ACCESS TO AND CONDUCT ACTIVITIES IN FURTHERANCE OF HIGHER EDUCATION.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt0819598838
IRS990/NetAssetsOrFundBalancesEOYAmt0914004230
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt01868766
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt01868766
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt076375248

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,045,185,472
Liabilities
$131,181,242
Net assets
$914,004,230
Revenue
$113,123,004
Expenses
$95,095,168
Net income
$18,027,836
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,114$127$987$154$115$38.8
2023Detailed filing. Detailed filing data is available for this year.$1,045$131$914$113$95.1$18.0
2022Detailed filing. Detailed filing data is available for this year.$945$126$820$81.9$69.3$12.6
2021Detailed filing. Detailed filing data is available for this year.$1,091$146$945$124$79.9$44.2
2020Detailed filing. Detailed filing data is available for this year.$828$18.2$810$83.1$70.6$12.6
2019Detailed filing. Detailed filing data is available for this year.$752$20.1$732$127$85.6$41.7
2018Detailed filing. Detailed filing data is available for this year.$638$34.3$604$124$86.5$37.5
2017Detailed filing. Detailed filing data is available for this year.$587$50.8$536$148$134$13.9
2016Detailed filing. Detailed filing data is available for this year.$512$55.5$456$165$124$40.7
2015Detailed filing. Detailed filing data is available for this year.$471$40.6$431$176$139$37.8
2014Detailed filing. Detailed filing data is available for this year.$438$50.2$388$266$169$96.4
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$375$49.9$326$234$185$48.6
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$319$57.3$262$173
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$235$41.1$194$124
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$170$50.5$120$120