Sallie Mae Fund
- Assets
- $7.9m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Newark, DE
- Founding
- 08/1998
- Data as of
- 12/2021
- EIN
- 52-2015381
Organization Overview
Sallie Mae Fund is located in Newark, DE. The organization was established in 1998. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sallie Mae Fund is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Sallie Mae Fund generated $3.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 60.5% each year . All expenses for the organization totaled $1.6m during the year ending 12/2021. While expenses have increased by 53.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Sallie Mae Fund has awarded 65 individual grants totaling $3,712,123. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
KIDS2COLLEGE- KIDS2COLLEGE IS THE FUND'S EARLY-COLLEGE AWARENESS PROGRAM. THIS SIX-SESSION CURRICULUM IS TOUGHT WITHIN SCHOOLS AND COMMUNITY GROUPS TO MIDDLE SCHOOL STUDENTS AND ENCOURAGES THEM TO START THINKING ABOUT COLLEGE. THE FUND:-CONTINUED TO PROVIDE TRAINING TO COLLEGE-ACCESS PARTNERS NATIONWIDE.-CONTINUED TO OFFER ITS NATIONAL CORE CURRICULUM AND ONLINE COMMUNITY TO SUPPOET PROGRAM PARTNERS.-REACHED ROUGHLY 50,000 STUDENTS WITH APPROCIMATELY 450 PARTNER SCHOOLS/ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Antoine Oakley Vice President | 25 | $0 | |
Jon Witter Director | 0.5 | $0 | |
Nic Jafarieh Director | 0.5 | $0 | |
Bonnie Beasley President/director | 0.5 | $0 | |
Christina Vogel Treasurer | 15 | $0 | |
Anne Milen Secretary | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $3,000,000 |
| Interest on Savings | $18,212 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $3,018,212 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $156,288 |
| Total operating and administrative expenses | $203,308 |
| Contributions, gifts, grants paid | $1,425,564 |
| Total expenses and disbursements | $1,628,872 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,627 |
| Savings and temporary cash investments | $7,928,887 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $7,937,514 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Sallie Mae Fund has awarded $1,425,564 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
Washington, DC PURPOSE: GENERAL OPERATING EXPENSES | $1,025,000 |
(HACU) HISPANIC ASSOC OF COLLEGES & UNIVERSITIES PURPOSE: GENERAL OPERATING EXPENSES | $125,000 |
Los Angeles, CA PURPOSE: GENERAL OPERATING EXPENSES | $125,000 |
FOLDS OF HONOR PURPOSE: GENERAL OPERATING EXPENSES | $50,000 |
GEORGETOWN COLLEGE PURPOSE: GENERAL OPERATING EXPENSES | $50,000 |
NETWORK FOR GOOD PURPOSE: GENERAL OPERATING EXPENSES | $29,173 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Sallie Mae Fund has recieved totaling $5,714.
| Awarding Organization | Amount |
|---|---|
Home Neighborly Service Of Denver Denver, CO PURPOSE: General Support | $5,714 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lindley Academy Charter School At Birney Philadelphia, PA | $8,724,796 | $15,521,412 |
Tech Impact Philadelphia, PA | $10,895,345 | $15,289,025 |
Tikva Corp West Caldwell, NJ | $10,446,184 | $12,711,125 |
Stemcivics Inc Ewing Township, NJ | $5,738,931 | $13,034,787 |
Neighbours Inc Highland Park, NJ | $4,396,049 | $11,744,083 |
Pillar College Inc Newark, NJ | $2,566,944 | $11,593,625 |
Csdc Property Corporation Hanover, MD | $98,381,398 | $10,915,076 |
Lehigh Valley Charter High School For The Arts Bethlehem, PA | $5,854,757 | $11,587,241 |
Charter Schools Development Corporation Hanover, MD | $137,072,204 | $25,530,553 |
Robert Benjamin Wiley Community Charter School Erie, PA | $5,943,995 | $8,110,042 |
Midland School North Branch, NJ | $16,197,805 | $7,668,515 |
Teaneck Community Charter School A New Jersey Nonprofit Corporation Teaneck, NJ | $2,956,346 | $7,502,418 |