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Lumina Foundation
FoundedJuly 31, 2000; 23 years ago (2000-07-31)
FounderConversion from USA Group
FocusExpanding access and success in postsecondary education
Location
Area served
United States
MethodGrants, funding
Revenue (2015)
$69,309,358[1]
Expenses (2015)$65,172,259[1]
Endowment1.4 billion USD
Websitewww.luminafoundation.org

Lumina Foundation is a private, Indianapolis-based foundation with about $1.4 billion in assets. Since its founding in August 2000, Lumina has made grants totaling more than $250 million.[2][3]

History

Lumina Foundation is a conversion foundation created in mid-2000 as USA Group, Inc., which sold most of its operating assets to the Student Loan Marketing Association, Inc. (Sallie Mae). Proceeds from the sale established the USA Group Foundation with an endowment of $770M. The foundation was renamed Lumina Foundation for Education in February 2001.[4]

Lumina's early grant making efforts provided start-up funding for three initiatives: Achieving the Dream: Community Colleges Count;[5] KnowHow2GO, a college-access campaign;[6] and College Productivity, formerly known as Making Opportunity Affordable.[7]

Presidents

References

  1. ^ a b "Lumina Foundation for Education, Inc" (PDF). Foundation Center. 14 November 2016. Retrieved 18 January 2018.
  2. ^ "Lumina Foundation web site About Us page". Retrieved 2006-09-16.
  3. ^ "Lumina Foundation web site FAQs page". Archived from the original on 2006-08-31. Retrieved 2006-09-16.
  4. ^ "From the ground up: an early history of Lumina Foundation for Education" (PDF). Archived from the original (PDF) on 2011-09-15. Retrieved 2008-12-11.
  5. ^ "NATIONAL INITIATIVE TO HELP MORE COMMUNITY COLLEGE STUDENTS SUCCEED WILL EXPAND TO 24 NEW COLLEGES IN EIGHT STATES" (PDF). Archived from the original (PDF) on 2011-10-08. Retrieved 2011-06-30.
  6. ^ "Learn More About KnowHow2Go".
  7. ^ "Lumina Foundation Web site Our Initiatives page". Archived from the original on 2008-06-30. Retrieved 2008-12-11.
  8. ^ "President's Corner". Retrieved 2008-12-11.

External links

Authority control databases
Categories