Education Loan Finance Inc
12700 Kingston Pike, Knoxville, TN · IRS data through FY2024
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2024 | $152,761,053 | $134,960,317 | $672,959,704 |
| FY2023 | $155,521,982 | $119,011,760 | $649,606,295 |
| FY2022 | $139,396,971 | $102,869,647 | $614,974,318 |
| FY2021 | $227,234,757 | $79,925,696 | $563,291,807 |
| FY2020 | $88,334,723 | $73,118,374 | $408,097,706 |
| FY2019 | $117,815,563 | $90,918,439 | $386,758,240 |
| FY2018 | $113,365,042 | $91,502,267 | $360,817,875 |
| FY2017 | $109,353,854 | $90,187,897 | $335,543,039 |
| FY2016 | $137,871,262 | $113,561,795 | $368,299,852 |
| FY2015 | $162,510,667 | $132,168,757 | $343,990,385 |
| FY2014 | $149,655,849 | $111,761,623 | $313,648,475 |
| FY2013 | $118,574,447 | $90,387,877 | $275,754,249 |
| FY2012 | $145,460,804 | $79,267,645 | $248,053,122 |
| FY2011 | $71,560,990 | $56,460,261 | $212,919,031 |
Form 990 filings
The returns filed by Education Loan Finance Inc (EIN 62-1586836), 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 | $11,137,062 | 7% |
| Program service revenue | $102,413,903 | 67% |
| Other revenue | $39,210,088 | 26% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $130,604,027 | 97% |
| Management & general | $4,356,290 | 3% |
| Fundraising | $0 | 0% |
What the numbers show
- Program service revenue made up 67% of total revenue in FY2024.
- Program services accounted for 97% of functional expenses, management & general 3%, and fundraising 0%.
- 97% of functional expenses went to program services in FY2024. That is higher than 95% of 100 Education organizations in TN.
- Net assets covered about 59.8 months of expenses at the end of the reporting year. That puts it in the 84th percentile among 1048 Education organizations in TN.
- Total revenue was higher than 99.3% of 1061 Education organizations in TN.
- Total revenue rose from $71,560,990 in FY2011 to $152,761,053 in FY2024. Revenue increased in 7 and decreased in 6 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 $227,234,757 in FY2021.
- Net assets grew from $212,919,031 to $672,959,704 between FY2011 and FY2024.
- Contributions and grants made up 0% of revenue in FY2011 and 7% 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
PROVIDES FUNDING FOR POSTSECONDARY STUDENT LOANS AND GRANTS FOR SCHOLARSHIPS THROUGH ITS SUBSIDIARY.
IRS status
| Ruling year | 1996 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | B82 — Education (in TN) |
| Donations | Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity). |
Similar organizations
- Rhodes College — Memphis, TN · $177,972,908
- Union University — Jackson, TN · $113,725,836
- Trevecca Nazarene University — Nashville, TN · $95,946,476
- Ensworth School — Nashville, TN · $83,745,106
- Freed-Hardeman University — Henderson, TN · $78,463,666
- KIPP Nashville — Nashville, TN · $71,997,127
- Christian Brothers University — Memphis, TN · $71,692,855
- Meharry Medical College — Nashville, TN · $234,140,557
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.