Independent University Alumni
Independent University Alumni is a private foundation focused on Academics, based in Lowell, MA. IRS filing data is available from 2021 through 2025. As of 2025, the organization holds $6.7M in total assets. In 2025, it awarded 2 grants totaling $169K. Net investment income was $191K.
Key facts about Independent University Alumni
In short: Independent University Alumni gave $169K across 2 grants in 2025 (avg $85K), mostly in Massachusetts. Source: 2025 IRS Form 990-PF.
- EIN
- 04-2052723
- Latest 990 filing
- Form 990-PF, 2025
- Annual giving (2025)
- $169,000
- Grants made (2025)
- 2
- Average grant
- $84,500
- Median grant
- $84,500
- Total assets
- $6,701,385
- Primary geography
- Massachusetts (100% of itemized 2025 grant dollars)
Data from IRS Form 990-PF, 2025; updated September 2026.
Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$6.7M
+5.2% YoY
Annual Giving
$169K
-94.9% YoY
Grant Count
2
-33.3% YoY
Avg Grant Size
$85K
-92.3% YoY
How Independent University Alumni gives
- Giving fell 94% from 2022 to 2025. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Ready to take the next step with Independent University Alumni?
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 2 itemized grants.
States
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2021 to 2025, annual grant giving ranged from $160K (2021) to $3.3M (2024). In 2025 it made 2 grants totaling $169K.
Grant Insights
How this funder distributes its grants
Top Recipients
Top 2 recipients in 2025
The largest 2025 recipient was University of Massachusetts ($150K). Together the top 2 received $169K.
Grant Size Distribution
11 grants across all recorded years
The most common grant size was in the $100–250K range: 5 grants of 11 (45%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| University of Massachusetts Newton, MA | Annual scholarships for students | $150,000 |
| University of Massachusetts Lowell Lowell, MA | Grants for UMass Lowell programs | $19,000 |
Financial History
Multi-year comparison from IRS filings
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $6,701,385 | $6,372,817 | $9,120,997 |
| Revenue | $238,692 | $285,348 | $284,157 |
| Expenses | $297,560 | $3,391,474 | $328,589 |
| Qualifying Distributions | $255,358 | $3,389,928 | $641,512 |
| Net Investment Income | $190,820 | $263,233 | $239,847 |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2021 (received by the IRS October 19, 2021)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 3, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS March 4, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS May 14, 2025)
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 14, 2026)
- IRS filings on file for fiscal years 2021–2024
Leadership & Key People
Officers and directors from IRS filings
Independent University Alumni is led by Margaret Shanahan, Executive Director since 2025 (on filings since 2021); 1 of 14 officers listed in 2025 is compensated.
Officers on the 2025 filing
Margaret Shanahan
Executive Director
Executive Director → Executive Di, 2024
Executive Di → Executive Director, 2025
On filings since 2021
40 hrs/week
$45K (2021) → $54K (2025)
Kevin D. Shanahan
President
On filings since 2021
1 hr/week
No compensation reported
George L. Duggan
Director
On filings since 2021
1 hr/week
No compensation reported
Hae-Young Christina Joo
Director
On filings since 2021
1 hr/week
No compensation reported
Joseph Vecchione
Director
On filings since 2021
1 hr/week
No compensation reported
Mary Ann Kitrosser
Director
On filings since 2021
1 hr/week
No compensation reported
Richard Donaldson
Director
On filings since 2021
1 hr/week
No compensation reported
Richard Russell
Director
Past President → Director, 2022
On filings since 2021
1 hr/week
No compensation reported
Thomas Vaughn
Director
On filings since 2021
1 hr/week
No compensation reported
Valerie King
Director
On filings since 2021
1 hr/week
No compensation reported
Walter F. Dawson
Director
On filings since 2021
1 hr/week
No compensation reported
Michael Alpert
Vice President
On filings since 2021
1 hr/week
No compensation reported
Davis Lee
Secretary
On filings since 2022
1 hr/week
No compensation reported
Patricia Rivard Gardner
Treasurer
On filings since 2022
1 hr/week
No compensation reported
Former officers (6)
- Former: Davis Le (2021) — Secretary
- Former: Drucilla Fitzgerald (2021) — Director
- Former: James Swartz (2021) — Director
- Former: Mary Gail Jaggers (2021) — Director
- Former: Patricia Rivard-Gardner (2021) — Treasurer
- Former: Thomas O'Donnell (2021) — Director
Data from IRS Form 990 filings, 2021–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $54K, to Margaret Shanahan (Executive Director).
Frequently asked questions about Independent University Alumni
How much does Independent University Alumni give each year?
Independent University Alumni gave $169K across 2 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $3.3M across 3 grants.
How large is Independent University Alumni?
Independent University Alumni reported $6.7M in total assets on its 2025 IRS Form 990-PF. Its revenue that year was $239K.
What is Independent University Alumni?
Independent University Alumni is a private foundation focused on Academics, based in Lowell, MA. It holds $6.7M in total assets as of 2025.
Where does Independent University Alumni operate?
Independent University Alumni has awarded grants in Massachusetts.
What is Independent University Alumni's EIN?
Independent University Alumni's EIN (Employer Identification Number) is 04-2052723. IRS Form 990 filing data is available on this page for 2021–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Here's the math on researching Independent University Alumni by hand.
Explore Open Grants
Browse active grant opportunities in Independent University Alumni's focus areas in our free grants database
Similar Funders
Funders with grantees in common
William M Wood Foundation
Dallas, TX
The William M. Wood Foundation supports education and services for people who are blind or visually impaired, hospitals, orchestras, and historical and cultural organizations, with most recent giving focused in Massachusetts and Kentucky, as well as Maine and Maryland. Its 2025 grants ranged from $10,000 to $500,000, with a median of $200,000. Its 2023 filing says it accepts written or verbal requests and does not require a specific form.
Assets
$51.1M
Grants
16
Total Given
$3.7M
Eastern Bank Foundation
Wakefield, MA
Eastern Bank Foundation funds systemic efforts to advance economic inclusion and mobility, including small-business equity, early childhood development, affordable housing, and workforce development. Its programs range from $1,000–$10,000 for Community Donations, up to $15,000 for CITC Grants, and $50,000–$150,000 for Impact Grants; it supports organizations primarily in Massachusetts, New Hampshire, and Rhode Island. The foundation accepts online applications, with no specific submission deadlines stated.
Assets
$266.7M
Grants
1,786
Total Given
$19.0M
The Nancy Lurie Marks Family Foundation
Wellesley, MA
The Nancy Lurie Marks Family Foundation funds autism-related research, clinical care, advocacy, education, policy, and community programs, with community and recreation grants focused on Greater Boston; it has supported organizations in the United States and internationally. In 2025, grants had a median of $40,000, though awards ranged widely from $50 to $2,437,500. It does not accept unsolicited requests; inquiries and applications are by invitation only.
Assets
$119.9M
Grants
39
Total Given
$9.7M
Silicon Valley Community Foundation
Mountain View, CA
Silicon Valley Community Foundation funds work in areas such as housing, economic security, education, health, the environment, arts and culture, and civic engagement, with Community Action Grants supporting local, community-led organizations in San Mateo and Santa Clara counties. Its 2024 grants had a median of $51,716, though amounts varied widely; applications depend on the program, and SVCF states that it does not accept unsolicited proposals for advised funds.
Assets
$12.3B
Grants
3,576
Total Given
$3.2B
Sea Breeze Foundation-Tr
Pittsburgh, PA
The foundation supports arts, education, conservation, animal welfare, and marine conservation organizations, with most recent funding going to Massachusetts and smaller amounts to Maine and Colorado. In 2025, it made grants of $5,000–$10,000, typically around $8,000, and it accepts no unsolicited requests, funding only preselected organizations.
Assets
$2.1M
Grants
16
Total Given
$130K
O'Brion Frank Trust Uw
Brooklyn, OH
Assets
$1.3M
Grants
5
Total Given
$43K
Felicia M Delorenzo Scholarship
Boston, MA
The Felicia M. DeLorenzo Scholarship Foundation supports post-secondary education for high school graduates who live in Arlington, Massachusetts, with scholarships recognizing academic achievement, strong work ethic, and community commitment. In 2024, grants ranged from $1,500 to $63,125, with a median of $4,500; the Foundation does not accept unsolicited funding requests.
Assets
$4.6M
Grants
61
Total Given
$367K
President and Fellows of Harvard College
Cambridge, MA
Harvard’s funding supports education and research, including awards to hospitals, research institutes, and universities, with most reported grant dollars going to Massachusetts. Its 2025 grants ranged from $5,002 to $27.4 million, with a median of $123,018; it also lists smaller opportunities for local artists and performers. The profile does not state whether it accepts unsolicited requests.
Assets
$79.9B
Grants
352
Total Given
$273.3M
Robert L Epstein Family Foundation
Boston, MA
The foundation supports universities and student success, Jewish life and education, performing arts, healthcare, children, and cultural organizations. In 2024, grants ranged from $500 to $163,000, with a median of $12,500; most funding went to Massachusetts, followed by Florida and Connecticut. It funds only preselected organizations and does not accept unsolicited requests.
Assets
$713K
Grants
18
Total Given
$502K
Atkins Grace Uw FBO Charities
Brooklyn, OH
The foundation funds scholarships and general operating support, with most of its giving in Connecticut and some grants in Rhode Island, South Carolina, Massachusetts, and New York. In 2025, it made 16 grants ranging from $500 to $33,798, with a median of $1,250; its listed scholarship program is for Bristol, Connecticut, residents attending a four-year college. The filing describes how to obtain scholarship applications but does not state whether it accepts unsolicited requests for other grants.
Assets
$1.7M
Grants
16
Total Given
$97K
Hellenic Women's Club Inc
Brookline, MA
Promotes fellowship among its members and engages in numerous philanthropic endeavors. To support education, scholarships, community-based needs, and medical research and patient care, with a focus on women and organizations that support women, particularly those of hellenic heritage.
Assets
$393K
Grants
6
Total Given
$74K
The Morningside Foundation
Newton Centre, MA
The Morningside Foundation funds education, religious organizations, and research, with most recent grant dollars supporting education; its listed grants were mainly in Massachusetts, with some in California and Arizona. In 2025, grants ranged from $7,000 to $8 million, with a median of $240,250. It funds only preselected organizations and does not accept unsolicited requests.
Assets
$23.1M
Grants
10
Total Given
$19.2M
More Funders in Massachusetts
Independent University Alumni down — hundreds of funders to go?