INDIANA SECONDARY MARKET FOR EDUCATION LOANS INC Charity Report

Public IRS 990 nonprofit record

INDIANA SECONDARY MARKET FOR EDUCATION LOANS INC

EIN 31-0995844 · Public & Societal Benefit (W600)

What they do

for OVER 40 YEARS, INDIANA SECONDARY MARKET for EDUCATION LOANS, INC. (D/B/A "INVESTED") HAS PROVIDED INDIANA STUDENTS and FAMILIES CRITICAL RESOURCES and ADVISING SERVICES to PLAN and FINANCE EDUCATION AFTER HIGH SCHOOL. AS INDIANAS ONLY STATE-BASED, NONPROFIT STUDENT-LOAN-MAKING and FINANCIAL-LITERACY ORGANIZATION, INVESTED PLAYS A CRUCIAL ROLE SERVING ALL INDIANA STUDENTS and FAMILIES BEFORE, DURING, and AFTER THEIR POST-SECONDARY STUDIES to MAKE POST-SECONDARY EDUCATIONAL ATTAINMENT AFFORDABLE. INVESTED PROVIDES STUDENTS and FAMILIES VARIOUS SERVICES THROUGH ITS STUDENT LOAN PROGRAM and ITS FINANCIAL AID LITERACY and ADVISING PROGRAMS, ALL AT NO COST to STUDENTS, THEIR FAMILIES, or INDIANA TAXPAYERS.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $75.00 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 leaders16 people are listed in the latest report.

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

Money made simple

61.05%of revenue went to mission work75.0% of expenses · Program services

$81.42spent for every $100 of revenueRevenue covered expenses this year.

20.37%of revenue went to management and office costs25.0% of expenses

$19.26in assets for every $1 spent this yearSome assets cannot be spent right away.

0.7%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 $506,699 for JOSEPH WOOD (CEO & PRESIDENT). 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$16,015,983

Mission workProgram services$9,778,03161.05% of revenue75.0% of expenses

ManagementOffice and general costs$3,262,18120.37% of revenue25.0% of expenses

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

Revenue left after expensesReported annual surplus$2,975,77118.58% of revenueShown in gray on the chart

Total expenses$13,040,21281.42% 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: 75.0% mission · 25.0% management · 0.0% fundraisingTotal expenses: 81.42% of revenue

2023Expense mix: 82.1% mission · 17.9% management · 0.0% fundraisingTotal expenses: 108.34% of revenue

Money in and money out

Revenue$16,015,983

Expenses$13,040,212

Annual surplus $2,975,771 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)$9,778,031 · 75.0% of expenses

Management and office costs$3,262,181 · 25.0% of expenses

See all reported dollar amounts

Revenue$16,015,983

Expenses$13,040,212

Assets$251,203,412

Income$29,970,932

Contributions$105,000

Mission work (program services)$9,778,031

Grants given$7,225,000

Average grant$1,445,000

Management and general$3,262,181

Stocks and bonds$116,498,833

Accounting fees$71,190

Investing fees$260,724

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

JOSEPH WOODCEO & PRESIDENT · 40 hrs/week $506,699Base $469,900 · Other $36,799

LINAE DEVAISHERCFO & VP · 40 hrs/week $322,297Base $300,751 · Other $21,546

WILLIAM WOZNIAKVP OF MARKETING · 40 hrs/week $258,256Base $222,588 · Other $35,668

PATRICK JASON MCGREWVP OF EXTERNAL MANAGEMENT · 40 hrs/week $237,312Base $200,885 · Other $36,427

CYNTHIA STONEROCKSENIOR FINANCIAL ANALYST · 40 hrs/week $153,602Base $121,625 · Other $31,977

MATTHEW KRIEGLENDING, BUS. DEV. MNGR. · 40 hrs/week $139,649Base $109,160 · Other $30,489

SUSAN MAYBERRYADV. & OUTREACH MNGR. · 40 hrs/week $139,542Base $109,046 · Other $30,496

CHARLES E SCHALLIOLCHAIRPERSON · 2 hrs/week $7,448

MATTHEW MURPHYTREASURER · 1 hrs/week $3,332

CAROL DAMICOSECRETARY · 1 hrs/week $3,136

DOUG BROWNBOARD MEMBER · 1 hrs/week $1,960

JIM SNYDERBOARD MEMBER · 1 hrs/week $1,764

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 (16)

JOSEPH WOODCEO & PRESIDENT

LINAE DEVAISHERCFO & VP

WILLIAM WOZNIAKVP OF MARKETING

PATRICK JASON MCGREWVP OF EXTERNAL MANAGEMENT

CYNTHIA STONEROCKSENIOR FINANCIAL ANALYST

MATTHEW KRIEGLENDING, BUS. DEV. MNGR.

SUSAN MAYBERRYADV. & OUTREACH MNGR.

CHARLES E SCHALLIOLCHAIRPERSON

MATTHEW MURPHYTREASURER

CAROL DAMICOSECRETARY

DOUG BROWNBOARD MEMBER

JIM SNYDERBOARD MEMBER

TOM GUEVARABOARD MEMBER

BETSY WILEYBOARD MEMBER

FRED PAYNEVICE CHAIRPERSON

MARSHAWN WOLLEYBOARD MEMBER

About this charity

Recognized since: January 1981
Location: 301 PENNSYLVANIA PKWY STE 360, CARMEL, IN 46280-1680
County: Hamilton
In care of: JOSEPH V WOOD
Primary officer: JOSEPH V WOOD, PRESIDENT

How to reach them

WebsiteVisit the charity’s website Phone(317) 715-9000

Filing and classification

Latest tax year: 2024
Tax period began: July 1, 2024
Return type: 990
Tax preparer: KSM BUSINESS SERVICES INC
NTEE classification: Public & Societal Benefit (W600)
IRS tax category: Civic and Social Organizations
Grant-giving organization: Yes