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Nonprofiteer
← MASSACHUSETTS HIGHER EDUCATION ASSISTANCE CORPORATION

Form 990 for tax year 2022

Filed by MASSACHUSETTS HIGHER EDUCATION ASSISTANCE CORPORATION.

Totals

Total revenue
$81,920,356
Total expenses
$69,303,434
Contributions and grants received
$1,389,402
Grants paid
$6,167,167
Program services expenses (Part IX)
$61,065,246
Management and general expenses
$8,238,188
Fundraising expenses
$0
Program service expenses (Part III)
$61,065,246

Program services were 88.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • ALEX RAPPAPORT

    DIRECTOR

    Total calculated
    $50,000
    From this org
    $50,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • CARLA THOMPSON

    DIR/CHAIR OF IMPACT INVESTING

    Total calculated
    $50,750
    From this org
    $50,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • CAROL FULP

    DIRECTOR/CHAIR OF COMPENSATION/VICE

    Total calculated
    $63,000
    From this org
    $63,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • EMILY MCCANN

    DIRECTOR

    Total calculated
    $50,000
    From this org
    $50,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • JEAN EDDY

    PRESIDENT/CEO/DIRECTOR

    Total calculated
    $738,539
    From this org
    $705,315
    From related orgs
    $0
    Other
    $33,224
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $447,369
    Bonus
    $247,500
    Other
    $10,446
    Deferred
    $21,350
    Nontaxable benefits
    $11,874
    Filer's total
    $738,539

  • KEN JONES

    DIR./CHAIR OF AUDIT COMMITTEE

    Total calculated
    $53,000
    From this org
    $53,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • LAWRENCE H GENNARI

    DIR/CHAIR OF BOARD/CHAIR

    Total calculated
    $68,000
    From this org
    $68,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • PATTY DIAZ-ANDRADE

    DIRECTOR

    Total calculated
    $50,000
    From this org
    $50,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • PETER SEGALL

    DIRECTOR

    Total calculated
    $53,000
    From this org
    $53,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • STEPHANIE CRIMMINS

    DIRECTOR

    Total calculated
    $52,250
    From this org
    $52,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • THOMAS GRAF

    DIR./CHAIR OF INV COMMITTEE

    Total calculated
    $53,000
    From this org
    $53,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • ANGELINE L CASTERA

    CHIEF PEOPLE OFFICER

    Total calculated
    $160,689
    From this org
    $149,012
    From related orgs
    $0
    Other
    $11,677
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $74,607
    Bonus
    $71,250
    Other
    $3,155
    Deferred
    $3,479
    Nontaxable benefits
    $8,198
    Filer's total
    $160,689

  • BARBARA MATEZ

    EVP & CFO

    Total calculated
    $526,347
    From this org
    $492,834
    From related orgs
    $0
    Other
    $33,513
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $342,369
    Bonus
    $138,000
    Other
    $12,465
    Deferred
    $21,350
    Nontaxable benefits
    $12,163
    Filer's total
    $526,347

  • JOHN CHRISTOPHER SHEEHAN

    VP & GENERAL COUNSEL

    Total calculated
    $403,621
    From this org
    $369,216
    From related orgs
    $0
    Other
    $34,405
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $272,454
    Bonus
    $88,320
    Other
    $8,442
    Deferred
    $21,350
    Nontaxable benefits
    $13,055
    Filer's total
    $403,621

  • ALISA WILKE

    SVP PRODUCT DEVELOPMENT

    Total calculated
    $410,483
    From this org
    $353,827
    From related orgs
    $0
    Other
    $56,656
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $240,385
    Bonus
    $105,000
    Other
    $8,442
    Deferred
    $21,350
    Nontaxable benefits
    $35,306
    Filer's total
    $410,483

  • CAMERON F LOGAN PHD

    VICE PRESIDENT OF TECHNOLOGY

    Total calculated
    $283,833
    From this org
    $243,722
    From related orgs
    $0
    Other
    $40,111
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $181,830
    Bonus
    $56,000
    Other
    $5,892
    Deferred
    $6,629
    Nontaxable benefits
    $33,482
    Filer's total
    $283,833

  • CARMELA CAPLAIN

    VICE PRESIDENT OF FINANCE

    Total calculated
    $308,475
    From this org
    $277,392
    From related orgs
    $0
    Other
    $31,083
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $222,708
    Bonus
    $45,000
    Other
    $9,684
    Deferred
    $19,388
    Nontaxable benefits
    $11,695
    Filer's total
    $308,475

  • CLAY COLARUSSO

    CMO & SVP DIGITAL STRATEGY

    Total calculated
    $438,140
    From this org
    $383,768
    From related orgs
    $0
    Other
    $54,372
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $266,838
    Bonus
    $110,000
    Other
    $6,930
    Deferred
    $20,500
    Nontaxable benefits
    $33,872
    Filer's total
    $438,140

  • JAMES G SMITH

    VICE PRESIDENT OF MARKETING

    Total calculated
    $309,023
    From this org
    $256,361
    From related orgs
    $0
    Other
    $52,662
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $207,339
    Bonus
    $41,200
    Other
    $7,822
    Deferred
    $18,472
    Nontaxable benefits
    $34,190
    Filer's total
    $309,023

  • JUDY GOLDSTEIN

    SVP PUBLIC RELATIONS COMMUNICATIONS

    Total calculated
    $394,658
    From this org
    $332,072
    From related orgs
    $0
    Other
    $62,586
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $237,648
    Bonus
    $87,500
    Other
    $6,924
    Deferred
    $21,350
    Nontaxable benefits
    $41,236
    Filer's total
    $394,658

  • JULIE LAMMERS

    SVP ADVOCACY CORP RESP

    Total calculated
    $396,056
    From this org
    $336,768
    From related orgs
    $0
    Other
    $59,288
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $230,108
    Bonus
    $100,000
    Other
    $6,660
    Deferred
    $20,500
    Nontaxable benefits
    $38,788
    Filer's total
    $396,056

  • KYLE G MORIN

    VP INVESTMENT & FINANCIAL ANALYSIS

    Total calculated
    $185,381
    From this org
    $154,933
    From related orgs
    $0
    Other
    $30,448
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $110,076
    Bonus
    $40,000
    Other
    $4,857
    Deferred
    $11,148
    Nontaxable benefits
    $19,300
    Filer's total
    $185,381

  • RILWAN MEERAN

    VP MISSION IMPACT INVESTMENTS

    Total calculated
    $498,614
    From this org
    $438,836
    From related orgs
    $0
    Other
    $59,778
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $280,906
    Bonus
    $150,000
    Other
    $7,930
    Deferred
    $12,626
    Nontaxable benefits
    $47,152
    Filer's total
    $498,614

  • ALAN WHITE

    SR. DIR. STR RES DATA ANALY

    Total calculated
    $229,715
    From this org
    $179,560
    From related orgs
    $0
    Other
    $50,155
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,900
    Bonus
    $26,250
    Other
    $1,410
    Deferred
    $11,530
    Nontaxable benefits
    $38,625
    Filer's total
    $229,715

  • ANDREW DYKE

    SR. DIRECTOR OF TECHNOLOGY

    Total calculated
    $241,112
    From this org
    $221,549
    From related orgs
    $0
    Other
    $19,563
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $190,409
    Bonus
    $30,000
    Other
    $1,140
    Deferred
    $15,626
    Nontaxable benefits
    $3,937
    Filer's total
    $241,112

  • ANNA M SINGER

    DIR COMPENSATION & BENEFITS

    Total calculated
    $284,416
    From this org
    $237,061
    From related orgs
    $0
    Other
    $47,355
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $209,725
    Bonus
    $26,250
    Other
    $1,086
    Deferred
    $16,184
    Nontaxable benefits
    $31,171
    Filer's total
    $284,416

  • LEE WALDVOGEL

    SR PROGRAM DIR PARTNERS

    Total calculated
    $231,970
    From this org
    $184,924
    From related orgs
    $0
    Other
    $47,046
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,838
    Bonus
    $32,000
    Other
    $1,086
    Deferred
    $13,489
    Nontaxable benefits
    $33,557
    Filer's total
    $231,970

  • SANDY DAWKINS

    PMO PROGRAM DIRECTOR

    Total calculated
    $203,132
    From this org
    $172,789
    From related orgs
    $0
    Other
    $30,343
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,234
    Bonus
    $23,145
    Other
    $1,410
    Deferred
    $11,897
    Nontaxable benefits
    $18,446
    Filer's total
    $203,132

  • ANNABEL CELLINI

    FORMER CHIEF STRATEGY OFFICER

    Total calculated
    $105,769
    From this org
    $105,769
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $105,769
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $105,769

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 7 · Other non-fixed payments

Answered no

  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 4A
ANNABEL CELLINI RECEIVED SEVERNACE IN THE AMOUNT OF $105,769 IN CALENDAR YEAR 2022.
PART I, LINE 7
ALL OFFICERS AND MEMBERS OF MANAGEMENT PARTICIPATE IN A SPECIAL INCENTIVE AWARD WHICH IS BASED UPON THE ORGANIZATION'S SUCCESS IN ACHIEVING KEY MILESTONES IN SUPPORT OF CORPORATE STRATEGIC OBJECTIVES DERIVED FROM MHEAC'S MISSION. THESE MILESTONES AND CRITERIA ARE IDENTIFIED IN ADVANCE AND APPROVED BY THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS. RECOMMENDATIONS BASED ON THE OVERALL LEVEL OF ACHIEVEMENT OF THOSE CORPORATE STRATEGIC OBJECTIVES ARE PRESENTED TO THE COMPENSATION COMMITTEE FOR DETERMINATION OF THE OVERALL AWARD POOL SIZE AS WELL AS INDIVIDUAL AWARD LEVELS, SUBJECT TO AN ANNUAL CAP, WITHIN THE POOL BASED ON INDIVIDUALS' RELATIVE CONTRIBUTIONS.
PART II, COLUMN C:
ASA MATCHES EMPLOYEES' CONTRIBUTIONS TO THE SECTION 403(B) PLAN UP TO A DISCRETIONARY PERCENTAGE SET ANNUALLY BY THE BOARD OF DIRECTORS IN ACCORDANCE WITH IRS GUIDELINES AND LIMITS. AMOUNTS ACCRUED AT YEAR END ARE INCLUDED IN SCHEDULE J, PART II, COLUMN C.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2022
Filed
4 October 2023
IRS schema version
2022v5.0
Source object
202342849349301964

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.