Lumina Foundation for Education

The Lumina Foundation for Education (more commonly known as the Lumina Foundation) is a grantmaking organization that funds a variety of postsecondary educational institutions and programs. The organization was founded in 2000 when USA Group, a student loan company, sold most of its assets to the Student Loan Marketing Association (Sallie Mae). The foundation is headquartered in Indianapolis, Indiana, and controls assets totaling over $1.2 billion. 1

At-A-Glance

President and CEO:

Jamie Merisotis

Location: Indianapolis, IN View on map
Tax ID: 35-1813228
Most Recent Filing: 2024
Budget (2024): Assets: $1,544,151,334 Revenue: $85,433,733 Expenses: $72,641,003

Contents

    While the initial grantmaking of the organization was focused on ostensibly noncontroversial educational programs, such as community college and college affordability programs, the Lumina Foundation has recently enacted a series of left-leaning funding priorities to disperse funds to support left-of-center policy on race and poverty. 1 2 3

    Background

    The Lumina Foundation was created in 2000 as a conversion foundation using proceeds from the sale of assets of the USA Group, a nonprofit student loan administrator, to the Student Loan Marketing Association (Sallie Mae). The Lumina Foundation was designed to redirect revenue from the sale towards funding postsecondary education programs. The organization was originally named the USA Group Foundation. Among the first projects funded by the foundation was Achieving the Dream, a partnership with other grantmaking organizations that, as of 2023, has provided $79 million in funding to community colleges. 4

    The Lumina Foundation’s stated goal is for 75% of Americans to have an education beyond high school through either a degree or certification program by 2040. 5

    Activity

    Funding Priorities Shift

    In its 2020 strategic plan, the Lumina Foundation announced plans to refocus much of its grantmaking on “racial equity” projects using left-progressive critical race theory-inspired language in the announcement of its Racial Justice and Equity Fund. The Fund devoted $15 million in funding for projects centered around “dismantling systems of oppression.” 2  The foundation also announced funding for state policy partnerships to fund lobbying efforts for left-of-center racial equity legislation across state legislatures. 6

    One of the first grant recipients of the Lumina Foundation’s racial equity grant program the Institute for Democracy and Higher Education at the Tufts University Tisch College of Civic Life, which received $105,000 from the Lumina Foundation to “explore higher education’s unique role in educating for the health and future of an inclusive democracy.”

    Organizations Funded

    The Lumina Foundation has funded left-of-center organizations in recent years. These include the  Anti-Recidivism Coalition, Community Partners, the SEIU 1199 Training and Upgrading Fund, the Century Foundation, Demos, Rockefeller Philanthropy Advisors, the Center for American Progress (CAP), the Bipartisan Policy Center, the Brookings Institution, Business Roundtable, Center for Law and Social Policy, and the New Venture Fund (NVF). 7

    Policy Stances

    The Lumina Foundation promotes various left-of-center state and federal education policies, mostly involving increased spending for community colleges and more focused resources for ethnic minority high school graduates. 8 9 The foundation’s lobbying efforts include funding policymaker organizations, including the National Governors Association, the Council of State Governments, and the National Conference of State Legislators.

    Financial Statistics

    Total Assets

    Total Revenue

    Total Expenses

    YearTotal AssetsTotal RevenueTotal ExpensesFiling
    2024 $1,544,151,334 $85,433,733 $72,641,003 View
    2023 $1,447,572,232 $54,331,663 $90,342,377 View
    2022 $1,413,211,168 $103,090,471 $65,552,907 View
    2021 $1,602,580,672 $177,941,571 $96,835,332 View
    2020 $1,416,758,091 $124,727,424 $70,210,915 View

    Prior year filings: 2015, 2014, 2013, 2012, 2011

    Expenses Detail

    Employee Compensation

    Highest Earning Employees

    EmployeeTitleTotal Compensation
    Jamie MerisotisPresident/CEO$1,064,716
    Chauncy LennonVP for the Future of Learning and Work & Sr. Stratgeic Advisor$421,902
    Erin ArcherVP for Fin and Invest/CFO$392,231
    Courtney BrownVP of Impact & Planning$387,283
    Debra HumphreysVP of Strategic Engagement$374,389
    Michelle CooperVP, Public Policy & Executive Director$373,848
    Hong Linh NguyenVP, Equity Culture, & Talent$361,460
    Timothy RobinsonVP General Counsel & Chief of Staff$344,721
    Cody CoppotelliDir of Inv (8.24)$318,603
    Shelley LloydDir of HR & Fac-Dec$246,414
    Kevin CorcoranStrategy Director$222,625
    Scott JenkinsStrtgy Dir-St Policy$213,436
    Thomas MajorAssoc Gen Counsel$211,995
    Alisa MillerBOARD CHAIR$45,000
    David WilsonBOARD MEMBER$34,000
    Joseph BoatengBOARD MEMBER$34,000
    Matthew BreitfelderBOARD MEMBER$34,000
    Allan HubbardBOARD MEMBER (RETIRED 4/10/2024)$28,000
    Christine PambianchiBOARD MEMBER$28,000
    Justin ChristianBOARD MEMBER$28,000
    Katherine DavisBOARD MEMBER (RETIRED 4/10/2024)$28,000
    Matthew GoldbergBOARD MEMBER$28,000
    William SerrataBOARD MEMBER$28,000
    Carman Twillie AmbarBoard Member$28,000
    Pardis MahdaviBOARD MEMBER (elected 4/10/24)$20,307
    Teresa LubbersBOARD MEMBER (elected 4/10/24)$20,307

    Grant Activity

    All-time grants received statistics from Candid dataset:

    • Total Grant Value: $1,891,202
    • Number of Grants: 12
    • Number of Funders: 10

    Selection of highest value grants received from the last seven years:

    AmountYearFunderSubject
    $108,1592022 New Venture FundCAPACITY BUILDING
    $101,6712020 The Community Foundation of Louisville Corporate Depository IncT22 private independent foundations
    $40,0002024 Fund for Innovation and Public ServicesGENERAL SUPPORT
    $35,0002020 Betsy Gordon Foundation C/o Elizabeth GordonGeneral operations
    $30,0002021 Community Foundation for Greater BuffaloUNRESTRICTED USE
    $2,5002022 Teller Family FoundationCHARITABLE DONATION

    All-time grants given statistics from Candid dataset:

    • Total Grant Value: $840,498,880
    • Number of Grants: 7,707
    • Number of Recipients: 2,287

    Selection of highest value grants given from the last seven years:

    AmountYearFunderSubject
    $2,508,5112024 The Blackbaud Giving FundTo support Lumina's 2023-2024 Gift Programs through the Blackbaud Giving Fund.
    $2,440,3232022 The Blackbaud Giving FundPublic charity conduit for Lumina staff, Board and retiree gifts to public charities.
    $2,300,1332023 The Blackbaud Giving FundPublic charity conduit for lumina staff, board and retiree gifts to public charities.
    $2,000,0002023 Georgetown UniversityTo examine attainment challenges to meet the needs of the modern workforce.
    $2,000,0002021 Georgetown UniversityAdd valuable empirical context around equity in postsecondary education and the economic value of degrees and credentials.
    $2,000,0002020 Columbus Learning Center Management Corp D/b/a Community Education CoalitionTo support the transition of Talent Hubs to CivicLab.
    $1,850,0002020 NEW AMERICA FOUNDATIONTo disseminate information about high quality career preparation models at community colleges
    $1,562,5002021 Rockefeller Philanthropy Advisors, Inc.To support the Prioritizing Adult Community College Enrollment initiative for community college participation.
    $1,500,0002021 US Chamber of Commerce FoundationTo support two statewide Talent Pipeline Management Academies with community college partners.
    $1,450,0002021 American Association of Collegiate Registrars and Admission OfficersTo assist state community college systems in developing strategic enrollment management plans.
    $1,300,0002021 Education Strategy GroupTo lead the coordination and technical advisory capacity of the state Credential As You Go network
    $1,300,0002021 NATIONAL SKILLS COALITIONTo support state efforts to 1) expand financial assistance for adult learners participating in community college workforce programs; and 2) expand SNAP E&T partnerships between community college systems and state human service agencies.
    $1,297,8262021 Association of Chamber of Commerce Executives FoundationTo support up to eight partnerships between local or regional chambers of commerce and community colleges to expand employment aligned credential attainment for adults of color.
    $1,200,0002023 NATIONAL SKILLS COALITIONTo mobilize a diverse set of cross-sector teams from 15-20 states committed to expanding equitable access to and completion of quality non-degree credentials.
    $1,200,0002020 Higher Learning AdvocatesTo support the general operations of Higher Learning Advocates
    $1,192,2622021 The Blackbaud Giving FundPublic charity conduit for Lumina staff, board and retiree gifts to public charities.
    $1,000,0002023 Ithaka S+RTo support scaling of stranded credit clearinghouse
    $1,000,0002023 Louisiana Community Technical College System FoundationTo improve the brand-building efforts of the 12 colleges in the Louisiana Community and Technical College System to support enrollment of adult learners.
    $1,000,0002022 State Center Community College DistrictTo support marketing and brand-building efforts at college and ultimately increase enrollment of adult learners. (Madera Community College)
    $1,000,0002021 Complete College America IncCreate a HBCC/PBCC network and provide technical assistance to implement credentials to associates pathways and related policy guidance.
    $1,000,0002021 Foundation for California Community CollegesTo support California Community College System participation in Innovative Credentials to Associates Network to increase adult learner of color completion.
    $1,000,0002021 Foundation for California Community CollegesTo build on existing partnerships between California community colleges, the California Workforce Development Board, and the State Building & Construction Trades Council to improve community college outcomes for High Road Construction Careers participants.
    $1,000,0002021 National Student Clearinghouse Research CenterTo better understand the re-enrollment, perseverance and credentials earned by students with some college, but no credential.
    $994,0002023 Association of Chamber of Commerce Executives IncTo support 10-12 new communities to drive growth of credentialing and degree programs in their regions.
    $900,0002024 Georgetown UniversityTo strengthen the alignment of postsecondary education and workforce via research and technical assistance.

    References

    1.  “Institute for Democracy & Higher Education Receives Lumina Foundation Grant to Support Higher Education’s Role in Preparing Students for an Inclusive Democracy.” Tufts University. July 29, 2021. Accessed August 29, 2021. https://www.newswise.com/articles/institute-for-democracy-higher-education-receives-lumina-foundation-grant-to-support-higher-education-s-role-in-preparing-students-for-an-inclusive-democracy
    2. Lumina Will Award Grants to Support Racial Justice and Equity Efforts, Enrollment in Community Colleges, and Nonpartisan Policy Education.” PRNewswire. August 12, 2021. Accessed August 29, 2021. https://www.prnewswire.com/news-releases/lumina-will-award-grants-to-support-racial-justice-and-equity-efforts-enrollment-in-community-colleges-and-nonpartisan-policy-education-301354234.html
    3. “From the Ground Up: An Early History of the Lumina Foundation.” Lumina Foundation. Accessed via wayback machine August 29, 2021. https://web.archive.org/web/20111002001732/https://www.luminafoundation.org/publications/From_the_Ground_Up.pdf
    4. Porter, Kelly Wislon. “Achieving the Dream .” Lumina Foundation, October 1, 2023. https://www.luminafoundation.org/wp-content/uploads/2025/06/Achieving-the-Dream-1.pdf. [note] “National Initiative to Help More Community College Students Succeed Will Expand To 24 New Colleges in Eight States.” Achieving the Dream. April 16, 2007. Accessed via wayback machine August 29, 2021. https://web.archive.org/web/20111008034313/http://www.achievingthedream.org/News_Release/Apr162007.pdf
    5. “Goal 2040: A Stronger Nation and a Brighter Future.” Lumina Foundation. Accessed March 18, 2026. https://www.luminafoundation.org/our-work/75×2040/.
    6. [1] “Lumina Will Award Grants to Support Racial Justice and Equity Efforts, Enrollment in Community Colleges, and Nonpartisan Policy Education.” PRNewswire. August 12, 2021. Accessed August 29, 2021. https://www.prnewswire.com/news-releases/lumina-will-award-grants-to-support-racial-justice-and-equity-efforts-enrollment-in-community-colleges-and-nonpartisan-policy-education-301354234.html
    8. “Lumina State Policy Agenda 2017-2020.” Lumina Foundation. Accessed August 29, 2021. https://www.luminafoundation.org/wp-content/uploads/2017/08/lumina-state-policy-agenda-2017-20-final.pdf
    9. “Federal Policy.” Lumina Foundation. Accessed August 29, 2021.  https://www.luminafoundation.org/aof/the-role-of-federal-policy/