The Nellie Mae Education Foundation is the largest philanthropy in New England dedicated exclusively to education. Established in 1999 following the sale of the Nellie Mae Corporation to Sallie Mae, the Foundation operates as a Massachusetts not-for-profit corporation and 501(c)(3) public charity. Headquartered in Quincy, Massachusetts, the Foundation works to advance educational excellence and equity across the New England region.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$543.0M
+4.5% YoY
Annual Giving
$21.0M
+40.4% YoY
Grant Count
140
-40.2% YoY
Avg Grant Size
$150K
+134.6% YoY
Mission & Focus Areas
The Foundation's mission is to champion efforts that prioritize community goals that challenge inequities and advance excellent, student-centered public education for all New England youth.
The Foundation operates exclusively for the benefit of educational organizations, including universities, colleges, secondary schools, elementary schools, and other educational organizations described in IRC Section 501(c)(3) that are not private foundations.
The Foundation has undergone a significant strategic shift to focus its grantmaking on advancing racial equity in K-12 public education throughout New England, specifically addressing structural racism and white supremacy in education systems. The strategy emphasizes deepening relationships with grantees, continuous learning, and adaptive approaches rather than fixed multi-year plans.
Grantmaking
The Foundation offers Event Sponsorships supporting organizations and communities with one-time event support that align with the Foundation's mission, vision, and values. Applicants can apply for Event Sponsorships up to $5,000, with application deadlines on March 26, June 25, September 10, and November 5, 2026.
Grant Range
s & Distribution:**
Review Cycle
on March 26, June 25, September 10, and November 5, 2026.
How to Apply
**
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Geographic Focus
Where this funder awards grants
The Foundation focuses exclusively on New England, serving six states: Massachusetts, New Hampshire, Connecticut, Rhode Island, Vermont, and Maine.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Assets & Revenue:
- Total assets: $543 million (2024)
- Total liabilities: $10.5 million (2024)
- Revenue: $40.9 million (2024)
- Expenses: $30 million (2024)
- Annual giving: $14.6 million (2023)
Tax Status: Tax-exempt since September 1988. EIN: 04-2755323.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $543,039,688 | $519,417,333 | $483,194,914 |
| Revenue | $40,949,471 | $21,415,739 | $23,248,571 |
| Expenses | $29,994,105 | $23,090,325 | $26,327,764 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $40,949,471 | $21,215,739 | $22,548,571 |
| 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
250 grants across all recorded years
Open Grants
2 open opportunities from Nellie Mae Education Foundation Inc
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Dr. Gisele C. Shorter serves as President and CEO, appointed in July 2023.
Jan Phlegar serves as Chair of the Board of Directors.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| PRUDENCE CARTER | DIRECTOR | 1 | $20,000 |
| PRABAL CHAKRABARTI | DIRECTOR | 2 | $24,000 |
| MISHONE DONELSON | DIRECTOR | 1 | $20,000 |
| BETTY FRANCISCO | DIRECTOR | 2 | $24,000 |
| ELIZABETH HILPMAN | DIRECTOR | 2 | $24,000 |
| DEBRA HUMPHREYS | DIRECTOR | 1 | $20,000 |
| JOHN JACKSON | DIRECTOR | 2 | $24,000 |
| DEBORAH JEWELL-SHERMAN | DIRECTOR | 2 | $24,000 |
| MAKEEBA MCCREARY | DIRECTOR | 1 | $20,000 |
| ELSA NUNEZ | DIRECTOR | 2 | $27,000 |
| COLLEEN QUINT | DIRECTOR | 1 | $24,000 |
| JOHN REMONDI | DIRECTOR | 2 | $27,000 |
| WARREN SIMMONS | DIRECTOR | 2 | $39,000 |
| DANIA VAZQUEZ | DIRECTOR | 2 | $24,000 |
| NICHOLAS WARREN | DIRECTOR | 1 | $10,000 |
| PAMELA WHITE | CLERK | 40 | $7,851 |
| DR GISELE SHORTER | PRESIDENT & CEO | 60 | $513,803 |
| ERIN BROUILLETTE | CHIEF FINANCIAL OFFICER | 40 | $135,245 |
| MICHAEL CAREY | VP OF FINANCE (UNTIL JUNE 2024) | 40 | $347,146 |
| JESSICA SPOHN | DIR. OF GRANTMAKING (UNTIL 1/19/24) | 40 | $269,031 |
| MARCOS POPOVICH | PROGRAM DIRECTOR, GRANTMAKING | 40 | $182,378 |
| PAUL MARSH | IT MANAGER | 40 | $171,507 |
| STEPHANIE CHENEY | SR MANAGER, GRANTS & PROGRAMS | 40 | $147,567 |
| ALEXIS HAREWOOD | SENIOR PROGRAM OFFICER | 40 | $129,176 |
Recent News & Activity
Recent developments and announcements
The Foundation announced a refined grantmaking strategy with a focus on advancing racial equity in K-12 public education. Starting in 2026, the Foundation launched updated grant categories including Event Sponsorships with specific application deadlines and eligibility criteria.
Announcing New Grant Commitments | Nellie Mae Education FoundationRecent grant commitments have supported educational initiatives across the Northeast, including a $900,000 grant to the Worcester Education Collaborative and funding for financial education research projects.
$600,000 AWARDED FOR 5 FINANCIAL EDUCATION RESEARCH PROJECTSSubject Areas
Focus areas based on grantmaking activity
Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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