MASSACHUSETTS HIGHER EDUCATION ASSISTANCE CORPORATION
33 ARCH ST STE 2100, BOSTON, MA · IRS data through FY2024
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2024 | $153,640,929 | $114,855,624 | $986,671,146 |
| FY2023 | $113,123,004 | $95,095,168 | $914,004,230 |
| FY2022 | $81,920,356 | $69,303,434 | $819,598,838 |
| FY2021 | $124,087,298 | $79,908,993 | $945,187,314 |
| FY2020 | $83,119,077 | $70,563,660 | $810,208,047 |
| FY2019 | $127,223,003 | $85,562,817 | $731,730,642 |
| FY2018 | $124,045,497 | $86,528,850 | $604,014,418 |
| FY2017 | $147,686,758 | $133,793,648 | $535,821,535 |
| FY2016 | $164,797,110 | $124,142,289 | $456,015,588 |
| FY2015 | $176,374,512 | $138,603,816 | $430,600,382 |
| FY2014 | $265,705,373 | $169,255,963 | $388,000,136 |
| FY2013 | $233,562,352 | $184,982,412 | $325,614,084 |
| FY2012 | $238,064,824 | $173,126,102 | $261,832,625 |
| FY2011 | $198,105,750 | $124,185,429 | $194,177,400 |
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $448,272 | 1% |
| Program service revenue | $75,914,640 | 99% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $90,637,773 | 79% |
| Management & general | $24,217,851 | 21% |
| Fundraising | $0 | 0% |
What the numbers show
- Program service revenue made up 99% of total revenue in FY2024.
- Program services accounted for 79% of functional expenses, management & general 21%, and fundraising 0%.
- 79% of functional expenses went to program services in FY2024.
- Net assets covered about 103.1 months of expenses at the end of the reporting year.
- Total revenue fell from $198,105,750 in FY2011 to $153,640,929 in FY2024, Revenue increased in 6 and decreased in 7 of 13 year-over-year comparisons.
- Revenue covered expenses in each of the 14 reported years, FY2011 to FY2024.
- The highest revenue on record here is $265,705,373 in FY2014.
- Net assets grew from $194,177,400 to $986,671,146 between FY2011 and FY2024.
- Donations are generally tax-deductible (public charity).
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
PROVIDE ACCESS TO AND CONDUCT ACTIVITIES IN FURTHERANCE OF HIGHER EDUCATION.
IRS status
| Ruling year | 1958 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Donations | Donations are generally tax-deductible (public charity). |
Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded September 20, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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