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Nonprofiteer
← EDUCATION FINANCE COUNCIL INC

Form 990 for tax year 2025

Filed by EDUCATION FINANCE COUNCIL INC.

Totals

Total revenue
$1,512,915
Total expenses
$1,430,300
Contributions and grants received
$0
Grants paid
$25,000
Program service revenue
$1,449,433
Investment income
$63,482
Other revenue
$0
Total assets, end of year
$2,368,808
Total liabilities, end of year
$866,108
Net assets or fund balances, end of year
$1,502,700
Program services expenses (Part IX)
$1,342,705
Management and general expenses
$87,595
Fundraising expenses
$0
Program service expenses (Part III)
$1,342,705

Program services were 93.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: Membership Dues

    total $1,083,583 · related or exempt $1,083,583

  • 2b · Program service revenue: Member Meetings

    total $356,650 · related or exempt $356,650

  • 2c · Program service revenue: Membership Services

    total $9,200 · related or exempt $9,200

  • 3 · Investment income

    total $63,482 · excluded $63,482

  • 8c · Net income from fundraising events

    total $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $25,000 · program services $25,000

  • 5 · Compensation of officers, directors and key employees

    total $316,844 · program services $289,604 · management and general $27,240

  • 7 · Other salaries and wages

    total $330,589 · program services $302,167 · management and general $28,422

  • 8 · Pension plan contributions

    total $38,461 · program services $35,384 · management and general $3,077

  • 9 · Other employee benefits

    total $74,159 · program services $68,226 · management and general $5,933

  • 10 · Payroll taxes

    total $49,848 · program services $45,860 · management and general $3,988

  • 11b · Fees: legal

    total $4,139 · program services $2,070 · management and general $2,069

  • 11c · Fees: accounting

    total $35,587 · program services $32,740 · management and general $2,847

  • 11g · Fees: other

    total $192,902 · program services $190,269 · management and general $2,633

  • 13 · Office expenses

    total $26,673 · program services $24,493 · management and general $2,180

  • 14 · Information technology

    total $13,473 · program services $12,396 · management and general $1,077

  • 16 · Occupancy

    total $51,720 · program services $47,582 · management and general $4,138

  • 17 · Travel

    total $7,170 · program services $7,170

  • 19 · Conferences, conventions and meetings

    total $213,846 · program services $213,846

  • 22 · Depreciation, depletion and amortization

    total $2,286 · program services $2,103 · management and general $183

  • 23 · Insurance

    total $9,447 · program services $8,692 · management and general $755

  • 24a · Other expenses: Dues and Subscriptions

    total $38,156 · program services $35,103 · management and general $3,053

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $106,681 · end of year $50,008

  • 2 · Savings and temporary cash investments

    beginning of year $2,162,618 · end of year $2,272,694

  • 4 · Accounts receivable

    beginning of year $10,345 · end of year $1,800

  • 9 · Prepaid expenses and deferred charges

    beginning of year $51,107 · end of year $38,365

  • 10a · Land, buildings and equipment: cost or other basis

    $14,459

  • 10b · Land, buildings and equipment: accumulated depreciation

    $8,518

  • 10c · Land, buildings and equipment, net

    beginning of year $4,631 · end of year $5,941

  • 17 · Accounts payable and accrued expenses

    beginning of year $57,405 · end of year $50,913

  • 19 · Deferred revenue

    beginning of year $858,245 · end of year $815,195

  • 27 · Net assets without donor restrictions

    beginning of year $1,406,636 · end of year $1,502,700

  • 28 · Net assets with donor restrictions

    beginning of year $13,096

Mission and programs · 2025

Mission

See Schedule O

  • Advocating for its state-based and nonprofit members public purpose mission to expand access to postsecondary education and training, facilitate student success, assist students and families in identifying their best sources of education funding, assist individuals with connecting postsecondary education and career outcomes, encourage responsible borrowing, and advocate for and with individuals in support of successful management of their postsecondary education financing.

    Expenses $1,342,705 · Grants $25,000 · Revenue $1,449,433

As filed on the 2025 return.

Listed in Part VII

  • Gail daMota

    President

    Total calculated
    $356,051
    From this org
    $316,844
    From related orgs
    $0
    Other
    $39,207
    Hours/week
    40

    Schedule J breakdown matched by us · ignoring case and punctuation

    Base
    $287,922
    Bonus
    $28,922
    Other
    not reported
    Deferred
    $19,304
    Nontaxable benefits
    $19,903
    Filer's total
    $356,051

  • Meghan Lustig

    VP Operations & Development

    Total calculated
    $173,492
    From this org
    $141,050
    From related orgs
    $0
    Other
    $32,442
    Hours/week
    40

    Schedule J breakdown matched by us · ignoring case and punctuation

    Base
    $127,929
    Bonus
    $13,121
    Other
    not reported
    Deferred
    $8,814
    Nontaxable benefits
    $23,628
    Filer's total
    $173,492

  • Trey Simon

    Director

    Total calculated
    $0
    Hours/week
    1

  • Jeanette W Weldon

    Director

    Total calculated
    $0
    Hours/week
    1

  • Will Shaffner

    Director

    Total calculated
    $0
    Hours/week
    1

  • Steven W McCullough

    Director

    Total calculated
    $0
    Hours/week
    1

  • Tricia Dubroc

    Vice Chair

    Total calculated
    $0
    Hours/week
    1

  • Chad Tate

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • James Steeley

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Scott Giles

    Chair

    Total calculated
    $0
    Hours/week
    2

  • Joseph Wood

    Director

    Total calculated
    $0
    Hours/week
    1

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, and on a Form 990-PF Part VIII's — 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

  • 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

Answered no

None.

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

Provenance

Return type
form_990
Tax year
2025
Filed
6 April 2026
IRS schema version
2025v4.1
Source object
202610979349300116

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