Skip to main content
IRS-authorized e-file provider · not the IRS

Nonprofit · EIN 04-2254705

MASSACHUSETTS HIGHER EDUCATION ASSISTANCE CORPORATION

Also known as AMERICAN STUDENT ASSISTANCE

Tax-exempt · BOSTON, MA 02110

Financials

$113.1M$95.1M2023$153.6M$114.9M2024
Revenue Expenses · by fiscal year end
Financials of MASSACHUSETTS HIGHER EDUCATION ASSISTANCE CORPORATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$153,640,929$114,855,624$38,785,305$1,113,821,909$127,150,763$986,671,146
December 31, 2023990$113,123,004$95,095,168$18,027,836$1,045,185,472$131,181,242$914,004,230
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$448,272
of which government grants
$448,272
Program service revenue
$75,914,640
Investment income
$77,184,436
Net gain from sales of assets
$38,127,917
Other revenue
$93,581

Expenses

Grants and similar amounts paid
$20,394,926
Compensation of officers, directors and key employees
$5,623,520
Other salaries and wages
$9,125,471
Salaries, compensation and benefits (total)
$16,751,195
Professional fundraising fees
$0
Legal fees
$770,583
Accounting fees
$422,259
Occupancy
$1,686,973
Travel
$613,863
Depreciation
$4,198,387
Program services (functional)
$90,637,773
Management and general (functional)
$24,217,851

Balance sheet and other

Total assets, start of year
$1,045,185,472
Total assets, end of year
$1,113,821,909
Total liabilities, end of year
$127,150,763
Net assets, end of year
$986,671,146
Land, buildings and equipment
$8,684,207
Publicly traded securities
$862,136,520
Net assets without donor restrictions
$986,671,146
Gross unrelated business income
$134,203
Gross receipts
$673,029,168
Employees
93
Volunteers
0
Year formed
1956
State of legal domicile
MA

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
JEAN EDDYPRESIDENT/CEO/DIRECTOR
Trustee or director, Officer
40$543,395$37,944
RILWAN MEERANVP MISSION IMPACT INVESTING
Key employee
40$328,463$67,872
ANGELINE L CASTERACOO/CHIEF PEOPLE OFFICER
Officer
40$313,565$69,948
CLAY COLARUSSOCMO & SVP DIGITAL STRATEGY
Key employee
40$297,573$61,350
CAMERON F LOGAN PHDVICE PRESIDENT OF TECHNOLOGY
Key employee
40$281,700$53,897
JOHN CHRISTOPHER SHEEHANVP & GENERAL COUNSEL (UNTIL 12/31/24)
Officer
40$297,658$36,607
ALISA WILKESVP PRODUCT OPERATIONS
Highest-paid employee
40$267,636$64,565
JULIE LAMMERSSVP ADVOCACY & CORP RESP
Key employee
40$258,824$63,573
JUDY GOLDSTEINSVP PUBLIC RELATIONS COMMUNICATIONS
Key employee
40$256,189$47,430
KYLE G MORINVP HEAD OF FINANCE
Key employee
40$245,156$57,339
JAMES G SMITHVICE PRESIDENT OF MARKETING
Highest-paid employee
40$217,719$56,661
ANDREW DYKESR. DIRECTOR OF TECHNOLOGY
Highest-paid employee
40$239,787$25,503
ALAN WHITEVP/RESEARCH & DATA ANALYTICS
Highest-paid employee
40$198,366$58,205
BARBARA MATEZEVP & CFO
Former
40$241,995$11,548
ROBIN M GILBERTVP, PEOPLE & CULTURE
Highest-paid employee
40$201,210$17,279
10 more people on this return
NameTitleHours / weekCompensation
LAWRENCE H GENNARIDIR/CHAIR OF BOARD/CHAIR
Trustee or director, Officer
4$78,500
CAROL FULPDIRECTOR/CHAIR OF COMPENSATION
Trustee or director, Officer
1$70,500
CARLA THOMPSONDIR/CHAIR OF IMPACT INVESTING
Trustee or director
1$60,500
KEN JONESDIR./CHAIR OF AUDIT COMMITTEE
Trustee or director
2$60,500
THOMAS GRAFDIR./CHAIR OF INV COMMITTEE
Trustee or director
1$53,000
ALEX RAPPAPORTDIRECTOR
Trustee or director
1$50,000
MARGARET NGDIRECTOR
Trustee or director
1$50,000
STEPHANIE CRIMMINSDIRECTOR
Trustee or director
1$50,000
DANIEL ACHEAMPONGDIRECTOR
Trustee or director
1$37,500
JD LAROCKDIRECTOR
Trustee or director
1$0
990 for the year ended December 31, 2023: 29 people
NameTitleHours / weekCompensationOther / benefits
JEAN EDDYPRESIDENT/CEO/DIRECTOR
Trustee or director, Officer
40$781,026$35,650
RILWAN MEERANVP MISSION IMPACT INVESTME
Key employee
40$444,111$68,998
ANGELINE L CASTERACHIEF PEOPLE OFFICER
Officer
40$363,958$75,486
CLAY COLARUSSOCMO & SVP DIGITAL STRATEGY
Key employee
40$372,030$58,127
CAMERON F LOGAN PHDVICE PRESIDENT OF TECHNOLOGY
Key employee
40$342,533$62,955
JOHN CHRISTOPHER SHEEHANVP & GENERAL COUNSEL
Officer
40$364,516$38,332
JULIE LAMMERSSVP ADVOCACY CORP RESP
Key employee
40$338,280$63,618
BARBARA MATEZEVP & CFO (UNTIL 5/23)
Officer
40$370,100$27,026
ALISA WILKESVP PRODUCT DEVELOPMENT
Key employee
40$318,738$75,214
JUDY GOLDSTEINSVP PUBLIC RELATIONS COMMUNICATIONS
Key employee
40$334,080$56,603
CARMELA CAPLAINVICE PRESIDENT OF FINANCE
Key employee
40$300,014$38,081
KYLE G MORINVP, HEAD OF FINANCE
Key employee
40$260,605$54,576
JAMES G SMITHVICE PRESIDENT OF MARKETING
Key employee
40$237,467$53,718
ANDREW DYKESR. DIRECTOR OF TECHNOLOGY
Highest-paid employee
40$249,205$23,579
LEE WALDVOGELSR PROGRAM DIR PARTNERS
Highest-paid employee
40$198,911$55,418
ALAN WHITESR. DIR. STR RES DATA ANALYSIS
Highest-paid employee
40$199,050$54,285
MICHAEL D GRANTSENIOR DIRECTOR OF FINANACE
Highest-paid employee
40$202,345$30,911
SANDY DAWKINSPMO PROGRAM DIRECTOR
Highest-paid employee
40$183,531$32,729
LAWRENCE H GENNARIDIR/CHAIR OF BOARD/CHAIR
Trustee or director, Officer
4$75,500$0
CAROL FULPDIRECTOR/CHAIR OF COMPENSATION
Trustee or director, Officer
1$70,500$0
CARLA THOMPSONDIR/CHAIR OF IMPACT INVESTING
Trustee or director
1$60,500$0
KEN JONESDIR./CHAIR OF AUDIT COMMITTEE
Trustee or director
2$60,500$0
THOMAS GRAFDIR./CHAIR OF INV COMMITTEE
Trustee or director
1$53,000$0
ALEX RAPPAPORTDIRECTOR
Trustee or director
1$50,000$0
EMILY MCCANNDIRECTOR
Trustee or director
1$50,000$0
PATTY DIAZ-ANDRADEDIRECTOR
Trustee or director
1$50,000$0
STEPHANIE CRIMMINSDIRECTOR
Trustee or director
1$50,000$0
MARGARET NGDIRECTOR
Trustee or director
1$12,500$0
DANIEL ACHEAMPONGDIRECTOR
Trustee or director
1$12,500$0

Address and contacts

Address (IRS master file)
33 ARCH ST STE 2100, BOSTON, MA 02110-1442
In care of
% FINANCE DEPARTMENT
Principal officer (990 for 2024)
JULIE LAMMERS, 33 ARCH STREET 2100, BOSTON, MA 02110
Signed the 990
JULIE LAMMERS, PRESIDENT & CEO
Phone
(800) 999-9080
Return prepared by
CBIZ ADVISORS LLC

Mission

THE ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS TO PROVIDE ACCESS TO AND CONDUCT ACTIVITIES IN FURTHERANCE OF HIGHER EDUCATION.

990 for the year ended December 31, 2024

Program accomplishments

  • MASSACHUSETTS HIGHER EDUCATION ASSISTANCE CORPORATION (MHEAC) RELIEVES THE BURDENS OF GOVERNMENT AND ASSISTS STUDENTS AND PARENTS IN SUCCESSFULLY COMPLETING A PROGRAM OF HIGHER EDUCATION BY CONTINUING TO ACT AS A GUARANTOR OF STUDENT LOANS MADE BY LENDERS, IN CONNECTION WITH THE FEDERAL HIGHER EDUCATION ACT OF 1965. IN ADDITION, MHEAC ENGAGES IN A VARIETY OF ACTIVITIES IN FURTHERANCE OF HIGHER EDUCATION, INCLUDING HELPING STUDENTS EXPLORE ALTERNATIVE EDUCATION PATHWAYS IN PURSUIT OF SUCCESSFUL AND FULFILLING CAREERS.
    Expenses $24,929,961 · grants $306,148 · revenue $75,914,640
  • MIDDLE AND HIGH SCHOOL ACTIVITIES: MHEAC ENGAGES IN A VARIETY OF ACTIVITIES IN FURTHERANCE OF HIGHER EDUCATION. THE MISSION IS TO HELP STUDENTS KNOW THEMSELVES, KNOW THEIR OPTIONS, AND MAKE INFORMED DECISIONS TO ACHIEVE THEIR EDUCATION AND CAREER GOALS. ASA IS COMMITTED TO HELPING STUDENTS EXPLORE EDUCATION AND CAREER OPTIONS STARTING IN MIDDLE SCHOOL, EXPERIMENT THROUGH HANDS-ON OPPORTUNITIES, AND EXECUTE A PLAN TO MEET THEIR GOALS. ASA'S INNOVATIVE PROGRAMS AND PARTNERSHIPS, COMBINED WITH A ROBUST RESEARCH AGENDA AND ADVOCACY PLATFORM, ENABLE ASA TO PROVIDE MEANINGFUL IMPACT TO YOUNG PEOPLE ON A NATIONAL SCALE.
    Expenses $65,707,812 · grants $20,088,778

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
04-2254705
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (509(a)(2))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
1958
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$1,113,821,909
Income (IRS master file)
$673,029,168

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$153,640,929$114,855,624$1,113,821,909XML
990-TDecember 2024–––IRS
990December 2023$113,123,004$95,095,168$1,045,185,472XML
990-TDecember 2023–––IRS
990December 2022$81,920,356$69,303,434$945,178,364IRS
990-TDecember 2022–––IRS
990December 2021–––IRS
990-TDecember 2021–––IRS
990December 2020–––IRS
990-TDecember 2020–––IRS
990June 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 04-2254705).

Questions about MASSACHUSETTS HIGHER EDUCATION ASSISTANCE CORPORATION

What is the EIN of MASSACHUSETTS HIGHER EDUCATION ASSISTANCE CORPORATION?
The employer identification number (EIN) of MASSACHUSETTS HIGHER EDUCATION ASSISTANCE CORPORATION is 04-2254705.
Is MASSACHUSETTS HIGHER EDUCATION ASSISTANCE CORPORATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1958.
Are donations to MASSACHUSETTS HIGHER EDUCATION ASSISTANCE CORPORATION tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does MASSACHUSETTS HIGHER EDUCATION ASSISTANCE CORPORATION file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of MASSACHUSETTS HIGHER EDUCATION ASSISTANCE CORPORATION due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did MASSACHUSETTS HIGHER EDUCATION ASSISTANCE CORPORATION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of MASSACHUSETTS HIGHER EDUCATION ASSISTANCE CORPORATION?
The 990 for the year ended December 31, 2024 names JULIE LAMMERS.
Who are the officers and directors of MASSACHUSETTS HIGHER EDUCATION ASSISTANCE CORPORATION?
The 990 for the year ended December 31, 2024 lists 25 people; 24 received compensation from the organization, the highest $543,395 (JEAN EDDY, PRESIDENT/CEO/DIRECTOR).
How much revenue does MASSACHUSETTS HIGHER EDUCATION ASSISTANCE CORPORATION have?
On its 990 for the year ended December 31, 2024 it reported revenue of $153,640,929, expenses of $114,855,624 and total assets of $1,113,821,909 at year end.

Other nonprofits in BOSTON

All nonprofits in BOSTON · Massachusetts