Nonprofit · EIN 31-0995844
INDIANA SECONDARY MARKET FOR EDUCATION LOANS INC
Tax-exempt · CARMEL, IN 46280
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $16,015,983 | $13,040,212 | $2,975,771 | $251,203,412 | $71,292,496 | $179,910,916 |
| June 30, 2024 | 990 | $16,573,697 | $17,955,703 | -$1,382,006 | $241,352,522 | $67,477,911 | $173,874,611 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $7,882,623
- Investment income
- $8,133,360
- Net gain from sales of assets
- $3,330,051
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $479,000
- Compensation of officers, directors and key employees
- $885,704
- Other salaries and wages
- $1,311,346
- Salaries, compensation and benefits (total)
- $2,759,324
- Professional fundraising fees
- $0
- Legal fees
- $310,142
- Accounting fees
- $71,190
- Occupancy
- $115,238
- Travel
- $54,316
- Depreciation
- $58,876
- Program services (functional)
- $9,778,031
- Management and general (functional)
- $3,262,181
Balance sheet and other
- Total assets, start of year
- $241,352,522
- Total assets, end of year
- $251,203,412
- Total liabilities, end of year
- $71,292,496
- Net assets, end of year
- $179,910,916
- Land, buildings and equipment
- $315,691
- Publicly traded securities
- $116,498,833
- Net assets without donor restrictions
- $178,788,916
- Net assets with donor restrictions
- $1,122,000
- Gross receipts
- $29,970,932
- Employees
- 17
- Volunteers
- 0
- Year formed
- 1980
- State of legal domicile
- IN
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 June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JOSEPH WOOD | CEO & PRESIDENT Officer | 40 | $469,900 | $36,799 |
| LINAE DEVAISHER | CFO & VP Officer | 40 | $300,751 | $21,546 |
| WILLIAM WOZNIAK | VP OF MARKETING Highest-paid employee | 40 | $222,588 | $35,668 |
| PATRICK JASON MCGREW | VP OF EXTERNAL MANAGEMENT Highest-paid employee | 40 | $200,885 | $36,427 |
| CYNTHIA STONEROCK | SENIOR FINANCIAL ANALYST Highest-paid employee | 40 | $121,625 | $31,977 |
| MATTHEW KRIEG | LENDING, BUS. DEV. MNGR. Highest-paid employee | 40 | $109,160 | $30,489 |
| SUSAN MAYBERRY | ADV. & OUTREACH MNGR. Highest-paid employee | 40 | $109,046 | $30,496 |
| CHARLES E SCHALLIOL | CHAIRPERSON Trustee or director, Officer | 2 | $7,448 | $0 |
| MATTHEW MURPHY | TREASURER Trustee or director, Officer | 1 | $3,332 | $0 |
| CAROL D'AMICO | SECRETARY Trustee or director, Officer | 1 | $3,136 | $0 |
| DOUG BROWN | BOARD MEMBER Trustee or director | 1 | $1,960 | $0 |
| TOM GUEVARA | BOARD MEMBER Trustee or director | 1 | $1,764 | $0 |
| JIM SNYDER | BOARD MEMBER Trustee or director | 1 | $1,764 | $0 |
| BETSY WILEY | BOARD MEMBER Trustee or director | 1 | $1,568 | $0 |
| FRED PAYNE | VICE CHAIRPERSON Trustee or director, Officer | 1 | $1,372 | $0 |
1 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MARSHAWN WOLLEY | BOARD MEMBER Trustee or director | 1 | $1,372 |
990 for the year ended June 30, 2024: 21 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JOSEPH WOOD | CEO & PRESIDENT Officer | 40 | $470,611 | $34,722 |
| LINAE DEVAISHER | CFO & VP Officer | 40 | $299,453 | $20,694 |
| WILLIAM WOZNIAK | VP OF MARKETING Highest-paid employee | 40 | $207,671 | $32,864 |
| PATRICK JASON MCGREW | VP OF EXTERNAL MANAGEMENT Highest-paid employee | 40 | $202,980 | $31,388 |
| CYNTHIA STONEROCK | SENIOR FINANCIAL ANALYST Highest-paid employee | 40 | $115,711 | $29,331 |
| EUGENE JOHNSON | PROGRAM DIRECTOR Highest-paid employee | 40 | $116,551 | $6,714 |
| MATTHEW MURPHY | VICE CHAIRPERSON, TREASURER Trustee or director, Officer | 1 | $12,514 | $0 |
| CHARLES E SCHALLIOL | CHAIRPERSON Trustee or director, Officer | 2 | $12,156 | $0 |
| MICHAEL T VEA | BOARD MEMBER Trustee or director | 1 | $9,230 | $0 |
| ANTHONY ARMSTRONG | BOARD MEMBER Trustee or director | 1 | $8,926 | $0 |
| DAVID B SKINNER | BOARD MEMBER Trustee or director | 1 | $7,926 | $0 |
| CAROL D'AMICO | SECRETARY Trustee or director, Officer | 1 | $7,230 | $0 |
| C TODD RICHARDSON | BOARD MEMBER Trustee or director | 1 | $6,250 | $0 |
| BRETT MERRITT | BOARD MEMBER Trustee or director | 1 | $5,534 | $0 |
| DIANA H HAMILTON | BOARD MEMBER Trustee or director | 1 | $4,142 | $0 |
| DOUG BROWN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| TOM GUEVARA | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| FRED PAYNE | VICE CHAIRPERSON Trustee or director, Officer | 1 | $0 | $0 |
| JIM SNYDER | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| BETSY WILEY | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| MARSHAWN WOLLEY | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 301 PENNSYLVANIA PKWY STE 360, CARMEL, IN 46280-1680
- Principal officer (990 for 2024)
- JOSEPH V WOOD, 301 PENNSYLVANIA PARKWAY 360, INDIANAPOLIS, IN 46280
- Signed the 990
- JOSEPH V WOOD, PRESIDENT
- Phone
- (317) 715-9000
- Website
- WWW.INVESTEDINDIANA.ORG
- Return prepared by
- KSM BUSINESS SERVICES INC
Mission
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 INDIANA'S 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.
Program accomplishments
- IN FISCAL YEAR 2025, THROUGH ITS FINANCIAL AID LITERACY AND ADVISING SERVICES, INVESTED CONDUCTED 1,060 IN-PERSON EVENTS AT PARTNER SCHOOLS FOR 94,454 ATTENDEES, AND PROVIDED DIRECT ONE-ON-ONE SUPPORT TO 16,358 INDIVIDUALS. INFORMATION DISCUSSED AND SHARED DURING GROUP EVENTS AND INDIVIDUAL SESSIONS INCLUDES, BUT IS NOT LIMITED TO:- MATERIALS AND INFORMATION: DEMONSTRATING THE VALUE PROPOSITION OF POSTSECONDARY CREDENTIALS AND DEGREES;- RESOURCES: DEMYSTIFYING INFORMATION BARRIERS, AND ASSISTANCE CAREFULLY NAVIGATING AVAILABLE GRANTS, SCHOLARSHIPS, COST SAVINGS, AND OPTIMAL FUNDING OPTIONS TO MEET POSTSECONDARY EDUCATION NEEDS AND CAREER GOALS; AND - ASSISTANCE: ACCESSING INDIANA'S EXCEPTIONALLY GENEROUS STATE FINANCIAL AID PROGRAM, AS WELL AS FEDERAL RESOURCES THROUGH PROGRAMS LIKE FREE APPLICATION FOR STUDENT AID (FAFSA) COMPLETION EVENTS, AND ONGOING CONCIERGE-STYLE GUIDANCE AND SUPPORT BY PHONE, EMAIL, AND ONLINE CHAT.Expenses $9,778,031 · grants $479,000 · revenue $7,882,623
What it must file and when
IRS records say it files Not required (state instrumentality). Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 31-0995844
- 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
- 1981
- Accounting year ends
- June
- Files
- Not required (state instrumentality)
- Category (NTEE)
- Public and societal benefit (W600)
- Assets (IRS master file)
- $251,203,412
- Income (IRS master file)
- $29,970,932
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $16,015,983 | $13,040,212 | $251,203,412 | IRS |
| 990 | June 2024 | $16,573,697 | $17,955,703 | $241,352,522 | XML |
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 31-0995844).
Questions about INDIANA SECONDARY MARKET FOR EDUCATION LOANS INC
- What is the EIN of INDIANA SECONDARY MARKET FOR EDUCATION LOANS INC?
- The employer identification number (EIN) of INDIANA SECONDARY MARKET FOR EDUCATION LOANS INC is 31-0995844.
- Is INDIANA SECONDARY MARKET FOR EDUCATION LOANS INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1981.
- Are donations to INDIANA SECONDARY MARKET FOR EDUCATION LOANS INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does INDIANA SECONDARY MARKET FOR EDUCATION LOANS INC file?
- Form Not required (state instrumentality).
- When is the next return of INDIANA SECONDARY MARKET FOR EDUCATION LOANS INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did INDIANA SECONDARY MARKET FOR EDUCATION LOANS INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of INDIANA SECONDARY MARKET FOR EDUCATION LOANS INC?
- The 990 for the year ended June 30, 2025 names JOSEPH V WOOD.
- Who are the officers and directors of INDIANA SECONDARY MARKET FOR EDUCATION LOANS INC?
- The 990 for the year ended June 30, 2025 lists 16 people; 16 received compensation from the organization, the highest $469,900 (JOSEPH WOOD, CEO & PRESIDENT).
- How much revenue does INDIANA SECONDARY MARKET FOR EDUCATION LOANS INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $16,015,983, expenses of $13,040,212 and total assets of $251,203,412 at year end.
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