Nellie Mae Education Foundation Inc
85% goes to programs Strong reserves Declining revenue
Nellie Mae Education Foundation Inc is a 501(c)(3) organization based in Quincy, Massachusetts, registered in 1988, with $40,949,471 in FY2024 revenue. CharityIndex grades it A, and it directs about 85% of spending to programs.
1250 Hancock St Ste 701n, Quincy, MA, 02169 EIN 04-2755323 Since 1988
Revenue (FY2024)
$40.9M
▲ 91.2% vs prior year
Education median: $200K
Expenses (FY2024)
$30.0M
Net assets
$532.5M
Employees
19
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 rating85% to programs
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 Nellie Mae Education Foundation Inc: 85% to programs earns a A on this criterion. See the exact thresholds →
B+Financial health25% of the rating213 mo reserves · +27% 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 Nellie Mae Education Foundation Inc: 213 mo reserves · +27% 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 Nellie Mae Education Foundation Inc: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 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 Nellie Mae Education Foundation Inc: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
Show this grade on your website
A live seal — it updates automatically when the grade changes and links donors to this verified profile.
Mission
Prioritize grants to ensure all youth have access to an excellent and equitable public education.
Contact & location
- Address
- 1250 Hancock St Ste 701n, Quincy, MA, 02169
- City
- Quincy
- State
- Massachusetts
- Category
- Education
- Subcategory
- Support Foundations & Fundraising
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $28.7M (FY2020) to $40.9M (FY2024) across 5 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $10.5MNet assets $532.5M
Operating margin
26.8%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$543.0M
Total liabilities
$10.5M
Net assets
$532.5M
Salaries & benefits
$2.6M
9% of expenses
Board members
15
15 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $40,949,471▲91.2% | $29,994,105▲29.9% | $532,531,509▲4.9% | $543,039,688▲4.5% | 990 |
| 2023 | $21,415,739▼7.9% | $23,090,325▼12.3% | $507,829,372▲8.3% | $519,417,333▲7.5% | 990 |
| 2022 | $23,248,571▼75.4% | $26,327,764▲13.0% | $469,114,365▼17.4% | $483,194,914▼17.5% | 990 |
| 2021 | $94,584,276▲230% | $23,289,401▼46.0% | $568,271,131▲11.4% | $585,493,964▲9.8% | 990 |
| 2020 | $28,672,878 | $43,160,448 | $510,073,558 | $533,194,184 | 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: Dr Gisele Shorter — $513,803 (1.71% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Dr Gisele Shorter | President & Ceo | 60 | $513,803 |
| Michael Carey | Vp of Finance (until June 2024) | 40 | $347,146 |
| Jessica Spohn | Dir. of Grantmaking (until 1/19/24) | 40 | $269,031 |
| Marcos Popovich | Program Director, Grantmaking | 40 | $182,378 |
| Paul Marsh | It Manager | 40 | $171,507 |
| Stephanie Cheney | Sr Manager, Grants & Programs | 40 | $147,567 |
| Erin Brouillette | Chief Financial Officer | 40 | $135,245 |
| Alexis Harewood | Senior Program Officer | 40 | $129,176 |
| Warren Simmons | Director | 2 | $39,000 |
| Elsa Nunez | Director | 2 | $27,000 |
| John Remondi | Director | 2 | $27,000 |
| Betty Francisco | Director | 2 | $24,000 |
| Colleen Quint | Director | 1 | $24,000 |
| Dania Vazquez | Director | 2 | $24,000 |
| Deborah Jewell-sherman | Director | 2 | $24,000 |
| Elizabeth Hilpman | Director | 2 | $24,000 |
| John Jackson | Director | 2 | $24,000 |
| Prabal Chakrabarti | Director | 2 | $24,000 |
| Debra Humphreys | Director | 1 | $20,000 |
| Makeeba Mccreary | Director | 1 | $20,000 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Prime Bucholz | Investment Management | $298,427 |
| Tammy Dowley-blackman Group | Management Consulting | $283,012 |
| Kinlaw Consulting Inc | Consulting | $226,034 |
| Aafcpas | Accounting | $194,640 |
| Nonprofit Hr Solutions | Employment/staffing | $124,229 |
Grants received · $500K total
1 grant to Nellie Mae Education Foundation Inc totaling $500K, reported by foundations on their Schedule I filings.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Silicon Valley Community Foundation | Education | 2022 | $500,000 |
Grants made · $21.0M in FY2024
140 grants totaling $21.0M in FY2024 — showing the 15 largest. All grants made by Nellie Mae Education Foundation Inc →
| Recipient | Purpose | Amount |
|---|---|---|
| The Bridgespan Group Inc | Capacity building accelerator provider | $2,995,000 |
| Fsg Inc | Systems transformation: bridge strategy | $1,323,915 |
| Brown University of Providence | Education research infrastructure initiative: new knowledge, innovations, and training in new england | $850,000 |
| Fund For the City of New York Inc | Launch of the center for youth and the future of work and a national study | $600,000 |
| New Venture Fund | Operating support - communities for just schools fund | $500,000 |
| Roger Williams University | Ri movement building | $500,000 |
| National State Teachers of the Year Inc | Empowered educator voices fellows | $460,000 |
| The Bridgespan Group Inc | Convening capacity building accelerator participants | $455,000 |
| New Venture Fund | Leading now - superintendent support to build public engagement skills | $300,000 |
| Foundation For Louisiana | Sponsoring executive leadership experiences for bipoc leaders | $300,000 |
| The Bridgespan Group Inc | Field building for equitable systems change | $275,000 |
| Rockefeller Philanthropy Advisors Inc | Partnership for learning 2024-26 | $274,500 |
| Education Resource Strategies Inc | New england cohort for k-12 resource equity | $265,000 |
| The Leadership Academy Inc | Scaling equitable practice in portland public schools | $264,618 |
| Mid Atlantic Equity Consortium Inc | Advancing systems: transformation for education justice | $264,213 |
Similar organizations in Education
Education
Dana Hall Schools
Wellesley, MA
$40.9M
Bannual revenue
Education
Winsor School Inc
Boston, MA
$41.2M
Bannual revenue
Education
Fessenden School
West Newton, MA
$41.8M
Bannual revenue
Education
The Trustees of Anatolia College
Boston, MA
$39.5M
Bannual revenue
Education
Franklin W Olin College of Engineering Inc
Needham, MA
$39.0M
Dannual revenue
Education
Proteus Fund Inc
Waltham, MA
$43.2M
B+annual revenue
Education
Brooks School
North Andover, MA
$38.4M
Bannual revenue
Education
University of Massachusetts Amherst Foundation Inc
Amherst, MA
$37.8M
Cannual revenue
Education
Trustees of the Lawrence Academy At Groton
Groton, MA
$37.8M
Bannual revenue
Education
Allen-chase Foundation
Deerfield, MA
$37.6M
Bannual revenue
Compare Nellie Mae Education Foundation Inc
Frequently asked questions
- Is Nellie Mae Education Foundation Inc a legitimate nonprofit?
- Yes. Nellie Mae Education Foundation Inc is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 04-2755323, based in Quincy, Massachusetts. Donations are tax-deductible.
- What is Nellie Mae Education Foundation Inc's EIN?
- Nellie Mae Education Foundation Inc's Employer Identification Number (EIN) is 04-2755323.
- How much revenue does Nellie Mae Education Foundation Inc report?
- Nellie Mae Education Foundation Inc reported $40,949,471 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Nellie Mae Education Foundation Inc's spending goes to programs?
- Nellie Mae Education Foundation Inc spends about 85% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Nellie Mae Education Foundation Inc have?
- CharityIndex grades Nellie Mae Education Foundation Inc A, based on program efficiency and fundraising cost.
- How much does Nellie Mae Education Foundation Inc's highest-paid employee make?
- The highest reported compensation on Nellie Mae Education Foundation Inc's latest Form 990 is $513,803, paid to Dr Gisele Shorter (President & Ceo).
More nonprofits in Quincy
Explore more
Data for Nellie Mae Education Foundation Inc (EIN 04-2755323) 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.