Nellie Mae Education Foundation Inc
1250 Hancock St Ste 701n, Quincy, MA · IRS data through FY2024
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2024 | $40,949,471 | $29,994,105 | $532,531,509 |
| FY2023 | $21,415,739 | $23,090,325 | $507,829,372 |
| FY2022 | $23,248,571 | $26,327,764 | $469,114,365 |
| FY2021 | $94,584,276 | $23,289,401 | $568,271,131 |
| FY2020 | $28,672,878 | $43,160,448 | $510,073,558 |
| FY2019 | $13,725,485 | $29,304,784 | $495,873,385 |
| FY2018 | $27,688,584 | $36,238,805 | $454,050,863 |
| FY2017 | $18,681,727 | $40,083,082 | $518,068,814 |
| FY2016 | $18,551,439 | $37,678,141 | $487,332,552 |
| FY2015 | $22,120,245 | $27,692,639 | $494,086,080 |
| FY2014 | $23,687,429 | $25,695,670 | $532,392,171 |
| FY2013 | $16,421,889 | $24,321,610 | $532,392,389 |
| FY2012 | $6,175,774 | $19,130,961 | $479,939,233 |
| FY2011 | $6,219,061 | $21,260,618 | $440,045,323 |
Form 990 filings
The returns filed by Nellie Mae Education Foundation Inc (EIN 04-2755323), including Form 990 PDFs and e-file data by year, are available in ProPublica's Nonprofit Explorer. The figures on this page come from IRS data files built from those returns.
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $0 | 0% |
| Program service revenue | $0 | 0% |
| Other revenue | $40,949,471 | 100% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $25,558,135 | 85% |
| Management & general | $4,435,970 | 15% |
| Fundraising | $0 | 0% |
What the numbers show
- Other revenue made up 100% of total revenue in FY2024.
- Program services accounted for 85% of functional expenses, management & general 15%, and fundraising 0%.
- 85% of functional expenses went to program services in FY2024. That is higher than 62.6% of 182 Education organizations in MA.
- Net assets covered about 213.1 months of expenses at the end of the reporting year. That puts it in the 91st percentile among 2334 Education organizations in MA.
- Total revenue was higher than 96.8% of 2371 Education organizations in MA.
- Total revenue rose from $6,219,061 in FY2011 to $40,949,471 in FY2024. Revenue increased in 7 and decreased in 6 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 12 of 14 reported years (FY2011, FY2012, FY2013, FY2014, FY2015, FY2016, FY2017, FY2018, FY2019, FY2020, FY2022, FY2023).
- The highest revenue on record here is $94,584,276 in FY2021.
- Net assets grew from $440,045,323 to $532,531,509 between FY2011 and FY2024.
- Contributions and grants made up 6% of revenue in FY2011 and 0% in FY2024.
- Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (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
PRIORITIZE GRANTS TO ENSURE ALL YOUTH HAVE ACCESS TO AN EXCELLENT AND EQUITABLE PUBLIC EDUCATION.
IRS status
| Ruling year | 1988 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | B120 — Education (in MA) |
| Donations | Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity). |
Similar organizations
- Dana Hall Schools — Wellesley, MA · $40,943,815
- Franklin W Olin College of Engineering Inc — Needham, MA · $40,842,979
- Allen-Chase Foundation — Deerfield, MA · $39,464,477
- Fay School Inc — Southborough, MA · $38,921,534
- Proteus Fund Inc — Waltham, MA · $43,200,431
- Cushing Academy Trustees — Ashburnham, MA · $38,480,990
- Winsor School Inc — Boston, MA · $43,443,149
- Trustees of the Lawrence Academy at Groton — Groton, MA · $37,753,408
Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded November 4, 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.
Think something here is wrong or should be removed? Use the contact form — we act on removal requests within 30 days.