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Indiana Secondary Market for Education Loans
Also known as Invested
Indiana Secondary Market for Education Loans reported $16.0 million in revenue and $13.0 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $74.98 went to program services, $25.02 to management and general costs and $0.00 to fundraising. Its largest source of revenue was investment income: 50.8% of the total. The highest compensation it reported for one person was $506,699 (CEO & PRESIDENT). 8 people received more than $100,000 in reportable compensation. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending June 30, 2025 · Form 990, Part IX, line 25 · total expenses $13MFor context, the median across 185 covered public & societal benefit charities: $88.81 programs, $11.18 management, $0.01 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending June 30, 2025 · Form 990, Part VIII · total revenue $16MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 75.0% | 84.9% |
| Management & general Part IX 25(C) ÷ 25(A) | 25.0% | 10.7% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.0% | 0.0% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | Not reported | $0.01 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 0.0% | 83.8% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 0.0% |
| Program service revenue share Part VIII 2g ÷ 12 | 49.2% | 3.2% |
| Highest reported compensation Part VII-A, columns D–F | $506,699 | $357,133 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 3.89% | 1.52% |
| People paid over $100,000 Part VII, line 2 | 8 | 12 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 165.6 | 10.5 |
| Independent voting board members Part VI 1a–1b | 9 of 9 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseIn fiscal year 2025, through its financial aid literacy and advising services, invested conducted 1,060 in-person events at partner schools for 94,454 attendees, and provided direct one-on-one support to 16,358 individuals. Information discussed and shared during group events and individual sessions includes, but is not limited to:- materials and information: demonstrating the value proposition of postsecondary credentials and degrees;- resources: demystifying information barriers, and assistance carefully navigating available grants, scholarships, cost savings, and optimal funding options to…
Highest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| CEO & PRESIDENT Officer, 40.00 hrs/week | $469,900 | $0 | $36,799 | $506,699 |
| CFO & VP Officer, 40.00 hrs/week | $300,751 | $0 | $21,546 | $322,297 |
| VP OF MARKETING Highest compensated employee, 40.00 hrs/week | $222,588 | $0 | $35,668 | $258,256 |
| VP OF EXTERNAL MANAGEMENT Highest compensated employee, 40.00 hrs/week | $200,885 | $0 | $36,427 | $237,312 |
| SENIOR FINANCIAL ANALYST Highest compensated employee, 40.00 hrs/week | $121,625 | $0 | $31,977 | $153,602 |
| LENDING, BUS. DEV. MNGR. Highest compensated employee, 40.00 hrs/week | $109,160 | $0 | $30,489 | $139,649 |
| ADV. & OUTREACH MNGR. Highest compensated employee, 40.00 hrs/week | $109,046 | $0 | $30,496 | $139,542 |
| CHAIRPERSON Director/trustee, officer, 2.00 hrs/week | $7,448 | $0 | $0 | $7,448 |
8 people received more than $100,000 in reportable compensation from Indiana Secondary Market for Education Loans (Part VII, line 2). Compensation of current officers, directors and key employees totaled $886K (Part IX, line 5).
2 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b9 · 9 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4Yes
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 517
Correct a figure or respond
Every number above is copied from Indiana Secondary Market for Education Loans's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Indiana Secondary Market for Education Loans, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 Indiana Secondary Market for Education Loans spent in FY2025, $74.98 went to programs. The full breakdown, from its IRS Form 990:
Questions people ask
How much of Indiana Secondary Market for Education Loans's spending goes to programs?
In the fiscal year ending June 30, 2025, Indiana Secondary Market for Education Loans reported that 75.0% of its $13.0 million in expenses went to program services, 25.0% to management and general and 0.0% to fundraising (Form 990, Part IX).
How much does Indiana Secondary Market for Education Loans pay its top executive?
The largest total compensation Indiana Secondary Market for Education Loans reported for one person in the fiscal year ending June 30, 2025 was $506,699, for the role of CEO & PRESIDENT (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Indiana Secondary Market for Education Loans get its money?
Of $16.0 million in revenue in the fiscal year ending June 30, 2025, 0.0% came from contributions and grants and 49.2% from program service revenue (Form 990, Part VIII).
Is Indiana Secondary Market for Education Loans a registered charity?
The IRS lists EIN 31-0995844 as a 501(c)(3) organization (publicly supported organization (509(a)(2))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending June 30, 2025, object 202611199349302431 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202600159349301955 · read the filing
All filings for EIN 31-0995844: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.