Indiana Secondary Market for Education Loans Inc
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.
Indiana Secondary Market for Education Loans Inc at a glance
In short: Indiana Secondary Market for Education Loans Inc gave $475K across 1 grant in 2025 (avg $475K), mostly in Indiana. Source: 2025 IRS Form 990.
- Annual giving (2025)
- $475,000
- -93.0% vs 2024
- Grants made (2025)
- 1
- -75.0% vs 2024
- Average grant
- $475,000
- -71.9% vs 2024
- Median grant
- $475,000
- Total assets
- $251,203,412
- +4.1% vs 2024
- Primary geography
- Indiana (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990, 2025 View filing
Data from IRS Form 990, 2025; updated September 2026.
How to apply to Indiana Secondary Market for Education Loans Inc
Open Grants
1 open opportunity from Indiana Secondary Market for Education Loans Inc
Who Indiana Secondary Market for Education Loans Inc funds
How this funder distributes its grants
Top Recipients
Top recipient in 2025
The largest 2025 recipient was Indiana Commission for Higher Education ($475K).
Grant Size Distribution
5 grants across all recorded years
The most common grant size was in the $1–5M range: 3 grants of 5 (60%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of the 2025 grant dollars on its one itemized grant.
States
Cities
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2024 to 2025, annual grant giving ranged from $475K (2025) to $6.8M (2024). In 2025 it made 1 grant totaling $475K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Indiana Commission for Higher Education Indianapolis, IN | Non-STEM Dual Credit Credentialing Program | $475,000 |
Ready to take the next step with Indiana Secondary Market for Education Loans Inc?
Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2025 | $251,203,412 | $16,015,983 | $13,040,212 | $475,000 | 1 | $8,133,360 |
| 2024 | $241,352,522 | $16,573,697 | $17,955,703 | $6,750,000 | 4 | $8,603,007 |
About Indiana Secondary Market for Education Loans Inc
Based on IRS filings
Indiana Secondary Market for Education Loans Inc is a public charity focused on public and societal benefit, based in Indianapolis, IN. IRS filing data is available from 2024 through 2025. As of 2025, the organization holds $251.2M in total assets. In 2025, it awarded 1 grant totaling $475K. Net investment income was $8.1M.
Focus Areas
Leadership & Key People
Officers and directors from IRS filings
Indiana Secondary Market for Education Loans Inc is led by Joseph Wood, CEO & President on every filing since 2024; all 16 officers listed in 2025 are compensated.
Officers on the 2025 filing
Joseph Wood
CEO & President
On filings since 2024
40 hrs/week
$471K (2024) → $470K (2025)
Charles E. Schalliol
Chairperson
On filings since 2024
2 hrs/week
$12K (2024) → $7K (2025)
Betsy Wiley
Board Member
On filings since 2024
1 hr/week
$2K (2025)
Carol D'amico
Secretary
On filings since 2024
1 hr/week
$7K (2024) → $3K (2025)
Cynthia Stonerock
Senior Financial Analyst
On filings since 2024
40 hrs/week
$116K (2024) → $122K (2025)
Doug Brown
Board Member
On filings since 2024
1 hr/week
$2K (2025)
Fred Payne
Vice Chairperson
On filings since 2024
1 hr/week
$1K (2025)
Jim Snyder
Board Member
On filings since 2024
1 hr/week
$2K (2025)
Linae Devaisher
CFO & Vice President
On filings since 2024
40 hrs/week
$299K (2024) → $301K (2025)
Marshawn Wolley
Board Member
On filings since 2024
1 hr/week
$1K (2025)
Matthew Murphy
Treasurer
Vice Chairperson & Treasurer → Treasurer, 2025
On filings since 2024
1 hr/week
$13K (2024) → $3K (2025)
Patrick Jason McGrew
Vice President of External Management
On filings since 2024
40 hrs/week
$203K (2024) → $201K (2025)
Tom Guevara
Board Member
On filings since 2024
1 hr/week
$2K (2025)
William Wozniak
Vice President of Marketing
On filings since 2024
40 hrs/week
$208K (2024) → $223K (2025)
Matthew Krieg
Lending & Bus. Development Mngr.
New on the 2025 filing
40 hrs/week
$109K (2025)
Susan Mayberry
Advisor & Outreach Mngr.
New on the 2025 filing
40 hrs/week
$109K (2025)
Former officers (7)
- Former: Anthony Armstrong (2024) — Board Member
- Former: Brett Merritt (2024) — Board Member
- Former: C. Todd Richardson (2024) — Board Member
- Former: David B. Skinner (2024) — Board Member
- Former: Diana H. Hamilton (2024) — Board Member
- Former: Eugene Johnson (2024) — Program Director
- Former: Michael T. Vea (2024) — Board Member
Data from IRS Form 990 filings, 2024–2025. "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 $470K, to Joseph Wood (CEO & President). 16 officers or directors reported compensation on that filing.
Frequently asked questions about Indiana Secondary Market for Education Loans Inc
How much does Indiana Secondary Market for Education Loans Inc give each year?
Indiana Secondary Market for Education Loans Inc gave $475K across 1 grant in 2025, according to its 2025 IRS Form 990. In 2024 it gave $6.8M across 4 grants.
How large is Indiana Secondary Market for Education Loans Inc?
Indiana Secondary Market for Education Loans Inc reported $251.2M in total assets on its 2025 IRS Form 990. Its revenue that year was $16.0M.
What is Indiana Secondary Market for Education Loans Inc?
Indiana Secondary Market for Education Loans Inc is a public charity focused on public and societal benefit, based in Indianapolis, IN. It holds $251.2M in total assets as of 2025.
Where does Indiana Secondary Market for Education Loans Inc operate?
Indiana Secondary Market for Education Loans Inc has awarded grants in Indiana.
What is Indiana Secondary Market for Education Loans Inc's EIN?
Indiana Secondary Market for Education Loans Inc's EIN (Employer Identification Number) is 31-0995844. IRS Form 990 filing data is available on this page for 2024–2025.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Data update history
(3)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2024 (received by the IRS January 15, 2026)
- Added Form 990 for fiscal year 2025 (received by the IRS April 29, 2026)
- IRS filings on file for fiscal year 2024
Live grants for the work Indiana Secondary Market for Education Loans Inc funds
Public, Societal Benefit Open opportunities, soonest deadline first.
Explore Open Grants
Browse active grant opportunities in Indiana Secondary Market for Education Loans Inc's focus areas in our free grants database
Similar Funders
Funders with grantees in common
Eli Lilly and Company Foundation
Indianapolis, IN
The Eli Lilly and Company Foundation funds global health, K–12 STEM education, economic mobility, and community-strengthening efforts, with much of its giving focused on Indiana and some support for health programs in the U.S. and lower-income countries. Its 2024 grants had a median of $100,000, and it gives only to preselected organizations and does not accept unsolicited funding requests.
Assets
$13.8M
Grants
95
Total Given
$29.1M
Columbus Foundation
Columbus, OH
The Columbus Foundation supports a broad range of nonprofit work, including arts, education, health, basic needs, neighborhoods, and capacity building, primarily in central Ohio. Its 2024 grants had a median of $21,471, though amounts varied widely. Most grants are directed by donors and aren’t made through an application process, but some specific programs accept applications.
Assets
$2.8B
Grants
1,747
Total Given
$242.7M
Strada Education Foundation Inc
Indianapolis, IN
Strada Education Foundation funds U.S. nonprofits, postsecondary institutions, and workforce educators working to connect education with opportunity, including through affordability, career coaching, work-based learning, and employer partnerships. Its 2024 grants ranged from $5,500 to $1.3 million, with a median of about $110,000; its work is national. The profile does not state whether it accepts unsolicited requests.
Assets
$1.8B
Grants
182
Total Given
$27.3M
Duke Energy Foundation
Charlotte, NC
The Duke Energy Foundation funds workforce and local economic development, disaster resilience, conservation, clean water, and economic opportunity in North Carolina, South Carolina, Florida, Ohio, Kentucky, and Indiana. Its 2024 grants had a median of $25,000; applications for grants of $20,000 or less are accepted year-round, after applicants discuss proposals with a state representative.
Assets
$1.9M
Grants
41
Total Given
$25.6M
Hoover Family Foundation
Indianapolis, IN
The Hoover Family Foundation funds direct-service nonprofit programs in social services, mental health, and enriched education that promote self-sufficiency and improve quality of life, mainly in the Indianapolis and Portland metropolitan areas. In 2025, grants ranged from $1,000 to $10,500, with a median of $8,000. Its guidelines invite applications and say giving is not limited to preselected organizations.
Assets
$9.7M
Grants
75
Total Given
$581K
Eloise Kimmelman Foundation
Coral Gables, FL
Assets
$2.9M
Grants
1
Total Given
$200K
More similar funders
More Funders in Indiana
Cite this profile
Grantable. (2026). Indiana Secondary Market for Education Loans Inc funder profile. GrantGraph. Retrieved October 25, 2026, from https://grantable.co/funders/indiana-secondary-market-for-education-loans-inc-morg_e680aef9f9794816ac9894ead926eb2c
BibTeX
@misc{grantable_310995844_2026,
author = {{Grantable}},
title = {{Indiana Secondary Market for Education Loans Inc funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/indiana-secondary-market-for-education-loans-inc-morg_e680aef9f9794816ac9894ead926eb2c},
note = {Accessed 2026-10-25. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from Indiana Secondary Market for Education Loans Inc's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
Indiana Secondary Market for Education Loans Inc down — hundreds of funders to go?