Massachusetts Higher Education Assistance Corporation
501(c)(3) Donations tax-deductible
79% goes to programs $0 to raise $100 Strong reserves Growing revenue
Massachusetts Higher Education Assistance Corporation is a 501(c)(3) organization based in Boston, Massachusetts, registered in 1958, with $153,640,929 in FY2024 revenue. CharityIndex grades it A, and it directs about 79% of spending to programs.
33 Arch St Ste 2100, Boston, MA, 02110 EIN 04-2254705 Since 1958
Revenue (FY2024)
$153.6M
▲ 35.8% vs prior year
Expenses (FY2024)
$114.9M
Net assets
$986.7M
Employees
93
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
AProgram efficiency40% of the rating79% to programs · $0 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Massachusetts Higher Education Assistance Corporation: 79% to programs · $0 to raise $100 earns a A on this criterion. See the exact thresholds →
B+Financial health25% of the rating103 mo reserves · +25% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Massachusetts Higher Education Assistance Corporation: 103 mo reserves · +25% margin earns a B+ on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Massachusetts Higher Education Assistance Corporation: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Massachusetts Higher Education Assistance Corporation: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
Provide access to and conduct activities in furtherance of higher education.
What they do
Middle and high school activities: mheac engages in a variety of activities in furtherance of higher education. the mission is to help students know themselves, know their options, and make informed decisions to achieve their education and career goals. asa is committed to helping students explore education and career options starting in middle school, experiment through hands-on opportunities, and execute a plan to meet their goals. asa's innovative programs and partnerships, combined with a robust research agenda and advocacy platform, enable asa to provide meaningful impact to young people on a national scale.
Contact & location
- Address
- 33 Arch St Ste 2100, Boston, MA, 02110
- City
- Boston
- State
- Massachusetts
- Category
- —
- Subcategory
- —
- Phone
- …
- Website
- …
Financial trends
Revenue declined from $265.7M (FY2013) to $153.6M (FY2024) across 11 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $127.2MNet assets $986.7M
Operating margin
25.2%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$1.1B
Total liabilities
$127.2M
Net assets
$986.7M
Salaries & benefits
$16.8M
15% of expenses
Board members
11
10 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $153,640,929▲35.8% | $114,855,624▲20.8% | $986,671,146▲8.0% | $1,113,821,909▲6.6% | 990 |
| 2023 | $113,123,004▲38.1% | $95,095,168▲37.2% | $914,004,230▲11.5% | $1,045,185,472▲10.6% | 990 |
| 2022 | $81,920,356▼34.0% | $69,303,434▼13.3% | $819,598,838▼13.3% | $945,178,364▼13.3% | 990 |
| 2021 | $124,087,298▲49.3% | $79,908,993▲13.2% | $945,187,314▲16.7% | $1,090,709,677▲31.7% | 990 |
| 2020 | $83,119,077▼34.7% | $70,563,660▼17.5% | $810,208,047▲10.7% | $828,363,737▲10.2% | 990 |
| 2019 | $127,223,003▲2.6% | $85,562,817▼1.1% | $731,730,642▲21.1% | $751,861,840▲17.8% | 990 |
| 2017 | $124,045,497▼16.0% | $86,528,850▼35.3% | $604,014,418▲12.7% | $638,276,258▲8.8% | 990 |
| 2016 | $147,686,758▼10.4% | $133,793,648▲7.8% | $535,821,535▲17.5% | $586,643,442▲14.7% | 990 |
| 2015 | $164,797,110▼6.6% | $124,142,289▼10.4% | $456,015,588▲5.9% | $511,519,912▲8.6% | 990 |
| 2014 | $176,374,512▼33.6% | $138,603,816▼18.1% | $430,600,382▲11.0% | $471,225,108▲7.5% | 990 |
| 2013 | $265,705,373 | $169,255,963▼8.5% | $388,000,136▲19.2% | $438,151,601▲16.7% | 990 |
| 2012 | — | $184,982,412▲6.8% | $325,614,084▲24.4% | $375,475,421▲17.7% | 990 |
| 2011 | — | $173,126,102▲39.4% | $261,832,625▲34.8% | $319,114,168▲35.6% | 990 |
| 2010 | — | $124,185,429▲3.9% | $194,177,400▲61.9% | $235,276,009▲38.1% | 990 |
| 2009 | — | $119,512,124 | $119,935,192 | $170,423,324 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Jean Eddy — $543,395 (0.47% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Jean Eddy | President/ceo/director | 40 | $543,395 |
| Rilwan Meeran | Vp Mission Impact Investing | 40 | $328,463 |
| Angeline L Castera | Coo/chief People Officer | 40 | $313,565 |
| John Christopher Sheehan | Vp & General Counsel (until 12/31/24) | 40 | $297,658 |
| Clay Colarusso | Cmo & Svp Digital Strategy | 40 | $297,573 |
| Cameron F Logan Phd | Vice President of Technology | 40 | $281,700 |
| Alisa Wilke | Svp Product Operations | 40 | $267,636 |
| Julie Lammers | Svp Advocacy & Corp Resp | 40 | $258,824 |
| Judy Goldstein | Svp Public Relations Communications | 40 | $256,189 |
| Kyle G Morin | Vp Head of Finance | 40 | $245,156 |
| Barbara Matez | Evp & Cfo | 40 | $241,995 |
| Andrew Dyke | Sr. Director of Technology | 40 | $239,787 |
| James G Smith | Vice President of Marketing | 40 | $217,719 |
| Robin M Gilbert | Vp, People & Culture | 40 | $201,210 |
| Alan White | Vp/research & Data Analytics | 40 | $198,366 |
| Lawrence H Gennari | Dir/chair of Board/chair | 4 | $78,500 |
| Carol Fulp | Director/chair of Compensation | 1 | $70,500 |
| Carla Thompson | Dir/chair of Impact Investing | 1 | $60,500 |
| Ken Jones | Dir./chair of Audit Committee | 2 | $60,500 |
| Thomas Graf | Dir./chair of Inv Committee | 1 | $53,000 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Ecmc | Guarantor Services | $27,913,253 |
| Wunderman Thompson LLC | Data Engineering | $3,596,552 |
| Alliants Limited | Data Engineering | $3,251,752 |
| Tiktok Inc | Social Media | $2,083,613 |
| PA Consulting Group | Consulting Services | $1,244,221 |
Grants received · $50K total
1 grant to Massachusetts Higher Education Assistance Corporation totaling $50K, reported by foundations on their Schedule I filings.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Boston Foundation Inc | Education | 2015 | $50,000 |
Grants made · $20.3M in FY2024
50 grants totaling $20.3M in FY2024 — showing the 15 largest. All grants made by Massachusetts Higher Education Assistance Corporation →
| Recipient | Purpose | Amount |
|---|---|---|
| Jobs For the Future Inc | Postsecondary pathways | $5,000,000 |
| Network For Teaching Entrepreneurship | Skill-building/social capital | $4,448,985 |
| New Venture Fund | Career exploration | $1,500,000 |
| Big Picture Company Inc | Digital innovation | $600,000 |
| Caps Network Inc | Work-based learning | $527,000 |
| Rodel Charitable Foundation De | Career exploration | $500,000 |
| Sparknc | Work-based learning | $500,000 |
| Us Chamber of Commerce Foundation | Digital innovation | $500,000 |
| America Succeeds | Skill-building/social capital | $450,000 |
| Naf | Work-based learning | $400,000 |
| Big Thought | Digital innovation | $375,000 |
| National Rural Education Association | Career exploration | $360,250 |
| Gps Education Partners Inc | Work-based learning | $300,000 |
| Coalition For Career Development Center | Influencing change | $280,000 |
| Icouldbe Org Inc | Digital innovation | $220,000 |
Frequently asked questions
- Is Massachusetts Higher Education Assistance Corporation a legitimate nonprofit?
- Yes. Massachusetts Higher Education Assistance Corporation is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 04-2254705, based in Boston, Massachusetts. Donations are tax-deductible.
- What is Massachusetts Higher Education Assistance Corporation's EIN?
- Massachusetts Higher Education Assistance Corporation's Employer Identification Number (EIN) is 04-2254705.
- How much revenue does Massachusetts Higher Education Assistance Corporation report?
- Massachusetts Higher Education Assistance Corporation reported $153,640,929 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Massachusetts Higher Education Assistance Corporation's spending goes to programs?
- Massachusetts Higher Education Assistance Corporation spends about 79% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Massachusetts Higher Education Assistance Corporation have?
- CharityIndex grades Massachusetts Higher Education Assistance Corporation A, based on program efficiency and fundraising cost.
- How much does Massachusetts Higher Education Assistance Corporation's highest-paid employee make?
- The highest reported compensation on Massachusetts Higher Education Assistance Corporation's latest Form 990 is $543,395, paid to Jean Eddy (President/ceo/director).
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Explore more
Data for Massachusetts Higher Education Assistance Corporation (EIN 04-2254705) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.