Sallie Mae Fund
- Assets
- $5.3m
- Revenue
- $358.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Newark, DE
- Founding
- 08/1998
- Data as of
- 12/2023
- 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 12/2023, Sallie Mae Fund generated $358.0k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 14.0% each year . All expenses for the organization totaled $1.5m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Sallie Mae Fund has awarded 86 individual grants totaling $6,804,698. 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
2023
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 |
|---|---|---|---|
Jennifer Byers President | 0.5 | $0 | |
Antoine Oakley Vice President | 0.5 | $0 | |
Anne Milen Left Board In 2023 Secretary | 5 | $0 | |
Patrick Chaing Secretary | 0.5 | $0 | |
Christina Vogel Treasurer | 15 | $0 | |
Lori Aiken Left Board In 2023 Director | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $326,955 |
| 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 | $31,002 |
| Total Revenue | $357,957 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $4,000 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $21,962 |
| Contributions, gifts, grants paid | $1,486,763 |
| Total expenses and disbursements | $1,508,725 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,477 |
| Savings and temporary cash investments | $5,322,687 |
| 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 | $5,326,164 |
| 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 $1,486,763 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
BOTTOM LINE PURPOSE: GENERAL OPERATING EXPENSES | $25,000 |
BOYS AND GIRLS CLUB OF GREATER SALT LAKE PURPOSE: GENERAL OPERATING EXPENSES | $25,000 |
BOYS AND GIRLS CLUB OF DELAWARE PURPOSE: GENERAL OPERATING EXPENSES | $60,000 |
DC PREP PURPOSE: GENERAL OPERATING EXPENSES | $25,000 |
DELAWARE STATE UNIVERSITY PURPOSE: GENERAL OPERATING EXPENSES | $225,000 |
EPSILON ZETA BOULE FOUNDATION PURPOSE: GENERAL OPERATING EXPENSES | $35,000 |