Nellie Mae Education Foundation Inc

Analysis

Nellie Mae Education Foundation Inc is a registered charity in United States, based in Quincy, MA. It received its IRS tax-exemption ruling in September 1988, 38 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Nellie Mae Education Foundation Inc reported income of $21.4m and spending of $23.1m, spending 108% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income fell from $27.7m to $21.4m (-23%), an average of -5.0% a year. The sharpest change came in the year to December 2021, when income rose by 230%. Over the whole period it spent 87% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Nellie Mae Education Foundation Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within MA. Charities of a similar size with the same main cause include Illinois State University Foundation ($21.4m), Stark County District Library ($21.4m) and Communities in Schools of Houston Inc ($21.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.9% of the total. Compensation of current officers, directors and key employees was $1.8m (8.0% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $519.4m against liabilities of $11.6m, net assets of $507.8m. It reported 21 employees.