Massachusetts Higher Education
American Student Assistance (ASA), also known as the Massachusetts Higher Education Assistance Corporation, is a nonprofit organization based in Boston, Massachusetts. Founded in 1956, ASA operates as a public charity with a primary mission to help students successfully complete the financing and repayment of higher education. The organization acts as a student loan guarantor and engages in a variety of activities to advance higher education access and completion.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$1.1B
+6.6% YoY
Annual Giving
$20.3M
+152.9% YoY
Grant Count
50
+85.2% YoY
Avg Grant Size
$407K
+36.5% YoY
Mission & Focus Areas
ASA's mission is to help students successfully complete the financing and repayment of higher education by acting as a student loan guarantor in connection with the federal Higher Education Act of 1965. Beyond loan guaranteeing, the organization pursues a broader educational mission that includes:
- Helping students explore alternative education pathways in pursuit of successful and fulfilling careers
- Middle and high school activities focused on helping students know themselves, know their options, and make informed decisions to achieve their education and career goals
- Helping students explore education and career options starting in middle school
- Providing hands-on opportunities for students to experiment with education and career options
- Supporting students in executing plans to meet their goals
The organization's primary NTEE classification is Scholarships and Student Financial Aid Services.
Grantmaking
ASA made total grants of $20,394,926 in their most recent fiscal year. Typical grant awards range from $10,000 to $5,000,000. The organization's grant-making focuses on education, philanthropy, voluntarism and grantmaking, and human services, with primary geographic focus in Massachusetts, California, and New York.
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Geographic Focus
Where this funder awards grants
ASA's grantmaking activities are primarily concentrated in Massachusetts, California, and New York.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of 2023:
- Total Assets: $1,045,185,472
- Total Revenues: $113,123,004
- Total Expenses: $95,095,168
- Number of Employees: 99
As of 2024:
- Total Assets: $1,113,821,909
- Total Giving: $20,394,926
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $1,113,821,909 | $1,045,185,472 | $945,178,364 |
| Revenue | $153,640,929 | $113,123,004 | $81,920,356 |
| Expenses | $114,855,624 | $95,095,168 | $69,303,434 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $77,184,436 | $27,481,673 | $-8,234,020 |
| 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 10 recipients in 2024
Grant Size Distribution
168 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| JEAN EDDY | PRESIDENT/CEO/DIRECTOR | 40 | $543,395 |
| ALEX RAPPAPORT | DIRECTOR | 1 | $50,000 |
| CARLA THOMPSON | DIR/CHAIR OF IMPACT INVESTING | 1 | $60,500 |
| CAROL FULP | DIRECTOR/CHAIR OF COMPENSATION | 1 | $70,500 |
| THOMAS GRAF | DIR./CHAIR OF INV COMMITTEE | 1 | $53,000 |
| KEN JONES | DIR./CHAIR OF AUDIT COMMITTEE | 2 | $60,500 |
| LAWRENCE H GENNARI | DIR/CHAIR OF BOARD/CHAIR | 4 | $78,500 |
| DANIEL ACHEAMPONG | DIRECTOR | 1 | $37,500 |
| MARGARET NG | DIRECTOR | 1 | $50,000 |
| STEPHANIE CRIMMINS | DIRECTOR | 1 | $50,000 |
| JD LAROCK | DIRECTOR | 1 | — |
| ANGELINE L CASTERA | COO/CHIEF PEOPLE OFFICER | 40 | $313,565 |
| JOHN CHRISTOPHER SHEEHAN | VP & GENERAL COUNSEL (UNTIL 12/31/24) | 40 | $297,658 |
| RILWAN MEERAN | VP MISSION IMPACT INVESTING | 40 | $328,463 |
| CLAY COLARUSSO | CMO & SVP DIGITAL STRATEGY | 40 | $297,573 |
| CAMERON F LOGAN PHD | VICE PRESIDENT OF TECHNOLOGY | 40 | $281,700 |
| JULIE LAMMERS | SVP ADVOCACY & CORP RESP | 40 | $258,824 |
| KYLE G MORIN | VP HEAD OF FINANCE | 40 | $245,156 |
| JUDY GOLDSTEIN | SVP PUBLIC RELATIONS COMMUNICATIONS | 40 | $256,189 |
| ALISA WILKE | SVP PRODUCT OPERATIONS | 40 | $267,636 |
| JAMES G SMITH | VICE PRESIDENT OF MARKETING | 40 | $217,719 |
| ALAN WHITE | VP/RESEARCH & DATA ANALYTICS | 40 | $198,366 |
| ANDREW DYKE | SR. DIRECTOR OF TECHNOLOGY | 40 | $239,787 |
| ROBIN M GILBERT | VP, PEOPLE & CULTURE | 40 | $201,210 |
| BARBARA MATEZ | EVP & CFO | 40 | $241,995 |
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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