The Sallie Mae Fund Inc
The Sallie Mae Fund Inc is a private foundation based in Newark, Delaware. Its 2024 grants included support for higher-education organizations and initiatives, including historically Black colleges and universities (HBCUs), college access, and scholarships.
The Sallie Mae Fund Inc at a glance
In short: The Sallie Mae Fund Inc gave $3.0M across 21 grants in 2024 (avg $143K), mostly in District of Columbia. 48% of 2024 grantees were new. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $2,994,540
- +101.4% vs 2023
- Grants made (2024)
- 21
- +90.9% vs 2023
- Average grant
- $142,597
- +5.5% vs 2023
- Median grant
- $50,000
- Total assets
- $2,524,011
- -52.6% vs 2023
- New grantees (estimate)
- 48% first-time grantees (10 of 21, 2024; small sample)
- Primary geography
- District of Columbia (58% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to The Sallie Mae Fund Inc
- Accepts unsolicited proposals
- No
- How to Apply
-
The foundation makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds.
- Contact
Mailing address: 300 Continental Drive, Newark, DE 19713
Phone: (302) 451-0200
Website: https://www.thesalliemaefund.org
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who The Sallie Mae Fund Inc funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was Thurgood Marshall College Fund ($1.6M). Together the top 10 received $2.7M.
Grant Size Distribution
70 grants across all recorded years
The most common grant size was under $50K: 29 grants of 70 (41%).
Geographic Focus
Where this funder awards grants
In 2024, 58% of grant dollars went to recipients in Washington, DC, and 22% went to recipients in Delaware. Other reported recipient-state shares were New York (5%), California (3%), and South Carolina (3%).
Grant Distribution by State
Share of 2024 grant dollars across all 21 itemized grants.
States
Cities
Is The Sallie Mae Fund Inc open to new grantees?
48%
first-time grantees, 2024
In 2024, 10 of 21 grantees (48%) were first-time recipients. With only 21 grantees, that is a small sample: one grantee more or less moves the share by about 5 points. First grants averaged $44K; repeat grants $232K. How we count
Medians: $38K first-time, $50K repeat.
- 48% of 2024 grantees were also funded in 2023. Method
- Giving grew 110% from 2021 to 2024. Method
- In 2024 it paid out well above its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $1.4M (2021) to $3.0M (2024). In 2024 it made 21 grants totaling $3.0M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Thurgood Marshall College Fund Washington, DC | General Operating Expenses | $1,625,250 |
| Delaware State University Dover, DE | General Operating Expenses | $375,000 |
| HBCU Week Foundation Inc Wilmingtonn, DE | General Operating Expenses | $200,000 |
| Point Foundation Los Angeles, CA | General Operating Expenses | $100,000 |
| Stony Brook Foundation Stony Brook, NY | General Operating Expenses | $100,000 |
| Your Cause LLC FBO the Blackbaud Giving Fund Charleston, SC | Employees Matching Gifts Program | $99,254 |
| DC College Access Program Washington, DC | Generating Operating Expenses | $75,000 |
| Boys and Girls Club of Delaware Wilmingtonn, DE | General Operating Expenses | $60,000 |
| Folds of Honor Owasso, OK | General Operating Expenses | $50,000 |
| The American College of the Maditerranean Tempe, AZ | General Operating Expense | $50,000 |
Ready to take the next step with The Sallie Mae Fund Inc?
Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2024 | $2,524,011 | $260,760 | $3,062,913 | $2,994,540 | 21 | $3,055,666 | $225,072 | $184,036 |
| 2023 | $5,326,164 | $357,957 | $1,508,725 | $1,486,763 | 11 | $1,504,725 | $326,955 | $305,457 |
| 2022 | $6,476,932 | $102,983 | $1,634,480 | $1,605,812 | 10 | $1,631,978 | $101,631 | $423,170 |
| 2021 | $7,937,514 | $3,018,212 | $1,628,872 | $1,425,564 | 16 | $1,628,872 | $18,212 | $306,058 |
| 2020 | $6,548,174 | $5,136,600 | $1,883,622 | $1,880,922 | 12 | — | $25,516 | $218,187 |
Under IRS private-foundation payout rules, The Sallie Mae Fund Inc reported a distributable amount of $184K for 2024 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
A separate mission statement for the foundation is not provided. Its 2024 grants show support for higher education and related organizations. For example, the Thurgood Marshall College Fund says its mission includes helping member schools increase student access, retention, and graduation; HBCU Week Foundation says it encourages high school students to enroll in HBCUs and provides scholarships; and Point Foundation says it supports the educational aspirations of LGBTQ+ and ally students.
Grantmaking
In filing year 2024, the fund reported 21 grants totaling $2,994,540. Awards ranged from $3,731 to $1,625,250, with a median of $50,000. The largest grant was $1,625,250 to the Thurgood Marshall College Fund. Other major awards included $375,000 to Delaware State University, $200,000 to HBCU Week Foundation, and $100,000 each to Point Foundation and Stony Brook Foundation. Most of the listed grants were for general operating expenses; one grant, to YourCause LLC FBO the Blackbaud Giving Fund, was for an employees matching gifts program.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists Jennifer Byers as president; Antoine Oakley as vice president; Patrick Chaing as secretary; and Christina Vogel as treasurer. It lists Jenny Menna, Nicolas Jafarieh, Kathy Edwards, and Patrick Freeman as directors.
The Sallie Mae Fund Inc is led by Jennifer Byers, President on every filing since 2023; none of the 8 officers listed in 2024 report compensation.
Officers on the 2024 filing
Jennifer Byers
President
On filings since 2023
0.5 hrs/week
No compensation reported
Kathy Edwards
Director
On filings since 2023
0.5 hrs/week
No compensation reported
Nicolas Jafarieh
Director
On filings since 2023
0.5 hrs/week
No compensation reported
Patrick Freeman
Director
On filings since 2023
0.5 hrs/week
No compensation reported
Jenny Menna
Director
New on the 2024 filing
0.5 hrs/week
No compensation reported
Antoine Oakley
Vice President
Vice President → President & Vice President, 2022
President & Vice President → Vice President, 2023
On filings since 2020
0.5 hrs/week
No compensation reported
Christina Vogel
Treasurer
On filings since 2020
15 hrs/week
No compensation reported
Patrick Chaing
Secretary
On filings since 2023
0.5 hrs/week
No compensation reported
Former officers (13)
- Former: Kerri Palmer (2022–2023) — Director
- Former: Anne Milen Left Board In (2023) — Secretary
- Former: Lori Aiken Left Board In (2023) — Director
- Former: Anne Milen (2020–2022) — Secretary
- Former: Nic Jafarieh (2020–2022) — Director
- Former: Lori Aiken (2022) — Director
- Former: Bonnie Beasley (2020–2021) — President & Director
- Former: Jon Witter (2020–2021) — Director
- Former: Kimberly Reid (2020) — Vice President
- Former: Matthew Menton (2020) — Director
- Former: Michael Sheehan (2020) — Secretary
- Former: Paul Thome (2020) — Director
- Former: Ray Quinlan (2020) — Director
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about The Sallie Mae Fund Inc
How much does The Sallie Mae Fund Inc give each year?
The Sallie Mae Fund Inc gave $3.0M across 21 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $1.5M across 11 grants.
What is The Sallie Mae Fund Inc's typical grant size?
The Sallie Mae Fund Inc's median grant in 2024 was $50,000, and its average grant was $142,597, across 21 grants on its 2024 IRS Form 990-PF. Organizations receiving their first grant from The Sallie Mae Fund Inc that year got $44K on average.
Where does The Sallie Mae Fund Inc give grants?
The Sallie Mae Fund Inc gives mostly in District of Columbia: 58% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The next largest state was Delaware (22%). The most frequent recipient cities were Washington, DC (4 grants) and Wilmingtonn, DE (3 grants).
Does The Sallie Mae Fund Inc give general operating support?
Yes: 95% of The Sallie Mae Fund Inc's 2024 grants with a stated purpose (20 of 21) were for general or operating support, per its 2024 IRS Form 990-PF.
Who are The Sallie Mae Fund Inc's largest grantees?
The Sallie Mae Fund Inc's largest 2024 grantees include Thurgood Marshall College Fund ($1,625,250), Delaware State University ($375,000) and HBCU Week Foundation Inc ($200,000), according to its 2024 IRS Form 990-PF. Together they received 73% of its itemized 2024 grant dollars.
How large is The Sallie Mae Fund Inc?
The Sallie Mae Fund Inc reported $2.5M in total assets on its 2024 IRS Form 990-PF. It paid out $3.1M in qualifying distributions that year, against a required minimum of $184K (roughly 5% of its investment assets).
What does The Sallie Mae Fund Inc fund?
A separate mission statement for the foundation is not provided. Its 2024 grants show support for higher education and related organizations. See mission & focus areas ↑
How do I apply for a grant from The Sallie Mae Fund Inc?
The foundation makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is The Sallie Mae Fund Inc's EIN?
The Sallie Mae Fund Inc's EIN (Employer Identification Number) is 52-2015381. IRS Form 990 filing data is available on this page for 2020–2024.
Does The Sallie Mae Fund Inc accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
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Cite this profile
Grantable. (2026). The Sallie Mae Fund Inc funder profile. GrantGraph. Retrieved October 16, 2026, from https://grantable.co/funders/the-sallie-mae-fund-inc-morg_0fee86376ddb46b59d39e4a4bc6d5888
BibTeX
@misc{grantable_522015381_2026,
author = {{Grantable}},
title = {{The Sallie Mae Fund Inc funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/the-sallie-mae-fund-inc-morg_0fee86376ddb46b59d39e4a4bc6d5888},
note = {Accessed 2026-10-16. 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 The Sallie Mae Fund 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.
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