The Sallie Mae Fund Inc is a private, company-sponsored foundation established in Virginia in 1998 and currently headquartered in Newark, Delaware. The organization operates as a 501(c)(3) tax-exempt entity dedicated to expanding access to higher education and supporting early childhood education initiatives.
Key facts about The Sallie Mae Fund Inc
- EIN
- 52-2015381
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $2,994,540
- Grants made (2024)
- 21
- Average grant
- $142,597
- Median grant
- $50,000
- New grantees (estimate)
- 48% first-time grantees (10 of 21, 2024)
- Total assets
- $2,524,011
- Primary geography
- District of Columbia (58% of itemized 2024 grant dollars)
Data from IRS Form 990-PF, 2024; updated September 2026. New grantees are estimated by matching recipient names across years (methodology).
Who The Sallie Mae Fund Inc funds
By grant dollars, the top recipient states for The Sallie Mae Fund Inc's 21 itemized 2024 grants were District of Columbia (58%) and Delaware (22%). The most frequent recipient cities were Washington, DC (4 grants) and Wilmingtonn, DE (3 grants). 95% of grants with a stated purpose were for general or operating support.
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. 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 IRS Form 990-PF grant lists (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Next steps with The Sallie Mae Fund Inc
- How to evaluate The Sallie Mae Fund Inc as a funder
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Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$2.5M
-52.6% YoY
Annual Giving
$3.0M
+101.4% YoY
Grant Count
21
+90.9% YoY
Avg Grant Size
$143K
+5.5% YoY
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.
Mission & Focus Areas
The Fund's mission centers on giving primarily to support programs that encourage higher education and prepare families for their college investments. The organization also provides funding for programs that promote early childhood education.
The Fund's primary program area is Kids2College, an early-college awareness initiative. This six-session curriculum is delivered within schools and community groups to middle school students to encourage them to begin thinking about college. The Fund provides training to college-access partners nationwide, offers its national core curriculum, and maintains an online community to support program partners. As of recent reporting, the program reached approximately 50,000 students through roughly 450 partner schools and organizations.
Grantmaking
The Fund makes grants to support higher education access and completion, with a particular focus on underserved communities and first-generation students.
Grant Range
** Typical awards range from $3,731 to $1,625,250.
Ready to take the next step with The Sallie Mae Fund Inc?
Geographic Focus
Where this funder awards grants
The Fund's grantmaking focuses primarily on New York, Delaware, and the District of Columbia.
Grant Distribution by State
Share of all 21 itemized 2024 grant dollars.
States
Cities
Financial History
Multi-year comparison from IRS filings
As of 2024:
- Total Assets: $2,524,011
- Total Revenues: $260,760
- Total Expenses: $3,062,913
- Total Liabilities: $0
Historical Assets (2023):
- Total Assets: $5.33M
- Total Revenues: $358,000
- Total Expenses: $1.51M
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $2,524,011 | $5,326,164 | $6,476,932 |
| Revenue | $260,760 | $357,957 | $102,983 |
| Expenses | $3,062,913 | $1,508,725 | $1,634,480 |
| Qualifying Distributions | $3,055,666 | $1,504,725 | $1,631,978 |
| Net Investment Income | $225,072 | $326,955 | $101,631 |
| Distributable Amount | $184,036 | $305,457 | $423,170 |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
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
70 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest recipients include Thurgood Marshall College Fund ($1,625,250), Delaware State University ($375,000), HBCU Week Foundation Inc ($200,000).
| 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 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
No officer or director reported compensation in the available filings.
From 2024 IRS filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Jenny Menna | Director | 0.5 | — |
| Jennifer Byers | President | 0.5 | — |
| Antoine Oakley | Vice President | 0.5 | — |
| Patrick Chaing | Secretary | 0.5 | — |
| Christina Vogel | Treasurer | 15 | — |
| Nicolas Jafarieh | Director | 0.5 | — |
| Kathy Edwards | Director | 0.5 | — |
| Patrick Freeman | Director | 0.5 | — |
Recent News & Activity
Recent developments and announcements
The Fund has been actively engaged in scholarship and grant distribution:
**2024:** Awarded a $75,000 grant to DC College Access Program to support higher education access and completion, with contributions supporting DC-CAP's 2050 Moonshot Goal of an 80% city-wide six-year college graduation rate.
The Sallie Mae Fund Grants $75,000 to DC College Access Program to Support**2025:** Opened application windows for the Bridging the Dream Scholarship program for high school seniors and the Completing the Dream Scholarship program. The Fund awarded $500,000 in scholarships to help students access and complete college.
The Sallie Mae Fund Grants $75,000 to DC College Access Program to SupportContact Information
Address: 300 Continental Drive, Newark, DE 19713-4329
Phone: 302-451-0200
Website: www.thesalliemaefund.org
EIN: 52-2015381
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does The Sallie Mae Fund Inc fund?
The Fund's mission centers on giving primarily to support programs that encourage higher education and prepare families for their college investments. The organization also provides funding for programs that promote early childhood education. The Fund's primary program area is **Kids2College**, an early-college awareness initiative. This six-session curriculum is delivered within schools and community groups to middle school students to encourage them to begin thinking about college. The Fund p…
How do I apply for a grant from The Sallie Mae Fund Inc?
The Fund makes grants to support higher education access and completion, with a particular focus on underserved communities and first-generation students. **Recent Grant Activity:** • Thurgood Marshall College Fund (TMCF): $1,625,250 (2024) • Delaware State University (DSU): $375,000 (2024) • DC College Access Program: $75,000 (2024) **Grant Range:** Typical awards range from $3,731 to $1,625,250. **Total Giving:** $2,994,540 (2024 fiscal year) The Fund also administers scholarship programs inc…
Where does The Sallie Mae Fund Inc make grants?
The Fund's grantmaking focuses primarily on New York, Delaware, and the District of Columbia.
What size grants does The Sallie Mae Fund Inc award?
In 2024, The Sallie Mae Fund Inc awarded 21 grants totaling $3.0M — an average of about $143K per grant, based on its IRS Form 990 filings.
How much is The Sallie Mae Fund Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The Sallie Mae Fund Inc reported a distributable amount of $184K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
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.
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Data last updated September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.