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 2024. As of 2024, the organization holds $6.4M in total assets. In 2024, it awarded 3 grants totaling $3.3M. Net investment income was $263K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$6.4M
-30.1% YoY
Annual Giving
$3.3M
+1576.8% YoY
Grant Count
3
+0.0% YoY
Avg Grant Size
$1.1M
+1576.8% YoY
About Independent University Alumni
Based on IRS filings
Independent University Alumni is a private foundation focused on Academics, based in LOWELL, MA. IRS filing data is available from 2021 through 2024. As of 2024, the organization holds $6.4M in total assets. In 2024, it awarded 3 grants totaling $3.3M. Net investment income was $263K.
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $6,372,817 | $9,120,997 | $8,771,831 |
| Revenue | $285,348 | $284,157 | $2,511,963 |
| Expenses | $3,391,474 | $328,589 | $3,185,863 |
| Qualifying Distributions | $3,389,928 | $641,512 | $6,228,564 |
| Net Investment Income | $263,233 | $239,847 | $2,488,804 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 3 recipients in 2024
Grant Size Distribution
9 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include University of Massachusetts Lowell ($3,118,293), University of Massachusetts ($150,000), University of Massachusetts Lowell ($18,150).
| Recipient | Purpose | Amount |
|---|---|---|
| UNIVERSITY OF MASSACHUSETTS NEWTOWN, MA | ANNUAL SCHOLARSHIPS FOR STUDENTS | $150,000 |
| UNIVERSITY OF MASSACHUSETTS LOWELL LOWELL, MA | GRANTS FOR UMASS LOWELL PROGRAMS | $18,150 |
| UNIVERSITY OF MASSACHUSETTS LOWELL LOWELL, MA | FUNDS FOR STUDENT SCHOLARSHIPS | $3,118,293 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| MARGARET SHANAHAN | EXECUTIVE DI | 40 | $52,880 |
| KEVIN SHANAHAN | PRESIDENT | 1 | — |
| MICHAEL ALPERT | VICE PRESIDE | 1 | — |
| PATRICIA RIVARD GARDNER | TREASURER | 1 | — |
| DAVIS LEE | SECRETARY | 1 | — |
| WALTER DAWSON | DIRECTOR | 1 | — |
| RICHARD DONALDSON | DIRECTOR | 1 | — |
| GEORGE DUGGAN | DIRECTOR | 1 | — |
| HAE-YOUNG CHRISTINA JOO | DIRECTOR | 1 | — |
| VALERIE KING | DIRECTOR | 1 | — |
| MARY ANN KITROSSER | DIRECTOR | 1 | — |
| THOMAS VAUGHN | DIRECTOR | 1 | — |
| JOSEPH VECCHIONE | DIRECTOR | 1 | — |
| RICHARD RUSSELL | DIRECTOR | 1 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Independent University Alumni?
Independent University Alumni is a private foundation focused on Academics, based in LOWELL, MA. It holds $6.4M in total assets as of 2024.
How large is Independent University Alumni?
As of 2024, Independent University Alumni holds $6.4M in total assets with $285K in annual revenue. It awarded 3 grants totaling $3.3M in 2024.
Where does Independent University Alumni operate?
Independent University Alumni has awarded grants in Massachusetts.
What size grants does Independent University Alumni award?
In 2024, Independent University Alumni awarded 3 grants totaling $3.3M — an average of about $1.1M per grant, based on its IRS Form 990 filings.
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 2021–2024.
Explore Open Grants
Browse active grant opportunities in Independent University Alumni's focus areas in our free grants database
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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