MASSACHUSETTS HIGHER EDUCATION ASSISTANCE CORPORATION Charity Report

Public IRS 990 nonprofit record

MASSACHUSETTS HIGHER EDUCATION ASSISTANCE CORPORATION

EIN 04-2254705 · Scholarships & Student Financial Aid (B82)

What they do

THE ORGANIZATIONS PRIMARY EXEMPT PURPOSE is to PROVIDE ACCESS to and CONDUCT ACTIVITIES IN FURTHERANCE of HIGHER EDUCATION.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $78.90 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders25 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

58.99%of revenue went to mission work78.9% of expenses · Program services

$74.76spent for every $100 of revenueRevenue covered expenses this year.

15.76%of revenue went to management and office costs21.1% of expenses

$9.70in assets for every $1 spent this yearSome assets cannot be spent right away.

0.3%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Pay context: The highest compensation shown in this filing is $581,339 for JEAN EDDY (PRESIDENT/CEO/DIRECTOR). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$153,640,929

Mission workProgram services$90,637,77358.99% of revenue78.9% of expenses

ManagementOffice and general costs$24,217,85115.76% of revenue21.1% of expenses

FundraisingAsking for donations0.00% of revenue0.0% of expenses

Revenue left after expensesReported annual surplus$38,785,30525.24% of revenueShown in gray on the chart

Total expenses$114,855,62474.76% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 78.9% mission · 21.1% management · 0.0% fundraisingTotal expenses: 74.76% of revenue

2023Expense mix: 86.5% mission · 13.5% management · 0.0% fundraisingTotal expenses: 84.06% of revenue

2022Expense mix: 88.1% mission · 11.9% management · 0.0% fundraisingTotal expenses: 84.60% of revenue

2021Expense mix: 87.8% mission · 12.2% management · 0.0% fundraisingTotal expenses: 64.40% of revenue

2020Expense mix: 85.5% mission · 14.5% management · 0.0% fundraisingTotal expenses: 84.89% of revenue

2019Expense mix: 90.4% mission · 9.6% management · 0.0% fundraisingTotal expenses: 67.25% of revenue

2017Expense mix: 85.8% mission · 14.1% management · 0.1% fundraisingTotal expenses: 69.76% of revenue

2016Expense mix: 87.1% mission · 12.5% management · 0.4% fundraisingTotal expenses: 90.59% of revenue

Money in and money out

Revenue$153,640,929

Expenses$114,855,624

Annual surplus $38,785,305 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$90,637,773 · 78.9% of expenses

Management and office costs$24,217,851 · 21.1% of expenses

See all reported dollar amounts

Revenue$153,640,929

Expenses$114,855,624

Assets$1,113,821,909

Income$673,029,168

Contributions$448,272

Mission work (program services)$90,637,773

Grants given$57,247,940

Average grant$284,816

Management and general$24,217,851

Executive compensation (total)$4,029,294

Stocks and bonds$862,136,520

Accounting fees$422,259

Investing fees$8,162,047

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

JEAN EDDYPRESIDENT/CEO/DIRECTOR · 40 hrs/week $581,339Base $543,395 · Other $37,944

RILWAN MEERANVP MISSION IMPACT INVESTING · 40 hrs/week $396,335Base $328,463 · Other $67,872

ANGELINE L CASTERACOO/CHIEF PEOPLE OFFICER · 40 hrs/week $383,513Base $313,565 · Other $69,948

CLAY COLARUSSOCMO & SVP DIGITAL STRATEGY · 40 hrs/week $358,923Base $297,573 · Other $61,350

CAMERON F LOGAN PHDVICE PRESIDENT OF TECHNOLOGY · 40 hrs/week $335,597Base $281,700 · Other $53,897

JOHN CHRISTOPHER SHEEHANVP & GENERAL COUNSEL (UNTIL 12/31/24) · 40 hrs/week $334,265Base $297,658 · Other $36,607

ALISA WILKESVP PRODUCT OPERATIONS · 40 hrs/week $332,201Base $267,636 · Other $64,565

JULIE LAMMERSSVP ADVOCACY & CORP RESP · 40 hrs/week $322,397Base $258,824 · Other $63,573

JUDY GOLDSTEINSVP PUBLIC RELATIONS COMMUNICATIONS · 40 hrs/week $303,619Base $256,189 · Other $47,430

KYLE G MORINVP HEAD OF FINANCE · 40 hrs/week $302,495Base $245,156 · Other $57,339

JAMES G SMITHVICE PRESIDENT OF MARKETING · 40 hrs/week $274,380Base $217,719 · Other $56,661

ANDREW DYKESR. DIRECTOR OF TECHNOLOGY · 40 hrs/week $265,290Base $239,787 · Other $25,503

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (25)

JEAN EDDYPRESIDENT/CEO/DIRECTOR

RILWAN MEERANVP MISSION IMPACT INVESTING

ANGELINE L CASTERACOO/CHIEF PEOPLE OFFICER

CLAY COLARUSSOCMO & SVP DIGITAL STRATEGY

CAMERON F LOGAN PHDVICE PRESIDENT OF TECHNOLOGY

JOHN CHRISTOPHER SHEEHANVP & GENERAL COUNSEL (UNTIL 12/31/24)

ALISA WILKESVP PRODUCT OPERATIONS

JULIE LAMMERSSVP ADVOCACY & CORP RESP

JUDY GOLDSTEINSVP PUBLIC RELATIONS COMMUNICATIONS

KYLE G MORINVP HEAD OF FINANCE

JAMES G SMITHVICE PRESIDENT OF MARKETING

ANDREW DYKESR. DIRECTOR OF TECHNOLOGY

ALAN WHITEVP/RESEARCH & DATA ANALYTICS

BARBARA MATEZEVP & CFO

ROBIN M GILBERTVP, PEOPLE & CULTURE

LAWRENCE H GENNARIDIR/CHAIR OF BOARD/CHAIR

CAROL FULPDIRECTOR/CHAIR OF COMPENSATION

CARLA THOMPSONDIR/CHAIR OF IMPACT INVESTING

KEN JONESDIR./CHAIR OF AUDIT COMMITTEE

THOMAS GRAFDIR./CHAIR OF INV COMMITTEE

ALEX RAPPAPORTDIRECTOR

STEPHANIE CRIMMINSDIRECTOR

MARGARET NGDIRECTOR

DANIEL ACHEAMPONGDIRECTOR

JD LAROCKDIRECTOR

About this charity

Recognized since: January 1958
Location: 33 ARCH ST STE 2100, BOSTON, MA 02110-1442
County: Suffolk
In care of: % FINANCE DEPARTMENT
Primary officer: JULIE LAMMERS, PRESIDENT & CEO

How to reach them

WebsiteVisit the charity’s website Phone(800) 999-9080

Filing and classification

Latest tax year: 2024
Tax period began: January 1, 2024
Return type: 990
Tax preparer: CBIZ ADVISORS LLC
NTEE classification: Scholarships & Student Financial Aid (B82)
IRS tax category: Scholarships & Student Financial Aid
Grant-giving organization: Yes