Nonprofit · EIN 52-1801566
EDUCATION FINANCE COUNCIL INC
Tax-exempt · WASHINGTON, DC 20003
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $1,512,915 | $1,430,300 | $82,615 | $2,368,808 | $866,108 | $1,502,700 |
| December 31, 2024 | 990 | $1,461,321 | $1,455,016 | $6,305 | $2,335,382 | $915,650 | $1,419,732 |
| December 31, 2023 | 990 | $1,338,609 | $1,314,578 | $24,031 | $2,279,778 | $866,400 | $1,413,378 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $1,449,433
- Investment income
- $63,482
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $25,000
- Compensation of officers, directors and key employees
- $316,844
- Other salaries and wages
- $330,589
- Salaries, compensation and benefits (total)
- $809,901
- Professional fundraising fees
- $0
- Legal fees
- $4,139
- Accounting fees
- $35,587
- Occupancy
- $51,720
- Travel
- $7,170
- Depreciation
- $2,286
- Program services (functional)
- $1,342,705
- Management and general (functional)
- $87,595
Balance sheet and other
- Total assets, start of year
- $2,335,382
- Total assets, end of year
- $2,368,808
- Total liabilities, end of year
- $866,108
- Net assets, end of year
- $1,502,700
- Land, buildings and equipment
- $5,941
- Net assets without donor restrictions
- $1,502,700
- Gross receipts
- $1,512,915
- Employees
- 5
- Volunteers
- 9
- Year formed
- 1992
- State of legal domicile
- DC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Gail daMota | President Officer | 40 | $316,844 | $39,207 |
| Meghan Lustig | VP Operations & Development Highest-paid employee | 40 | $141,050 | $32,442 |
| Trey Simon | Director Trustee or director | 1 | $0 | $0 |
| Jeanette W Weldon | Director Trustee or director | 1 | $0 | $0 |
| Will Shaffner | Director Trustee or director | 1 | $0 | $0 |
| Steven W McCullough | Director Trustee or director | 1 | $0 | $0 |
| Tricia Dubroc | Vice Chair Trustee or director, Officer | 1 | $0 | $0 |
| Chad Tate | Treasurer Trustee or director, Officer | 1 | $0 | $0 |
| James Steeley | Secretary Trustee or director, Officer | 1 | $0 | $0 |
| Scott Giles | Chair Trustee or director, Officer | 2 | $0 | $0 |
| Joseph Wood | Director Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2024: 12 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Gail daMota | President Officer | 40 | $323,925 | $27,267 |
| Alex Ricci | VP Gov Affairs & Communications Highest-paid employee | 40 | $154,860 | $24,527 |
| Meghan Lustig | VP Operations & Development Highest-paid employee | 40 | $143,788 | $9,740 |
| Will Shaffner | Director Trustee or director | 1 | $0 | $0 |
| Steven W McCullough | Director Trustee or director | 1 | $0 | $0 |
| James Steeley | Director Trustee or director | 1 | $0 | $0 |
| Scott Giles | Director Trustee or director | 1 | $0 | $0 |
| Sana Efird | Director Trustee or director | 1 | $0 | $0 |
| Trey Simon | Chair Trustee or director, Officer | 2 | $0 | $0 |
| Jeanette W Weldon | Secretary Trustee or director, Officer | 1 | $0 | $0 |
| Lynne Riley | Vice Chair Trustee or director, Officer | 1 | $0 | $0 |
| David Schwanke | Treasurer Trustee or director, Officer | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 12 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Gail daMota | President Officer | 40 | $291,288 | $32,907 |
| Alex Ricci | VP Gov Affairs & Communicatio Highest-paid employee | 40 | $151,355 | $22,751 |
| Meghan Lustig | VP Operations & Development Highest-paid employee | 40 | $119,802 | $25,895 |
| David Schwanke | Director Trustee or director | 1 | $0 | $0 |
| Steven W McCullough | Director Trustee or director | 1 | $0 | $0 |
| James Steeley | Director Trustee or director | 1 | $0 | $0 |
| Sana Efird | Director Trustee or director | 1 | $0 | $0 |
| Will Shaffner | Director Trustee or director | 1 | $0 | $0 |
| Jeanette W Weldon | Secretary Trustee or director, Officer | 1 | $0 | $0 |
| Trey Simon | Chair Trustee or director, Officer | 2 | $0 | $0 |
| Lynne Riley | Vice Chair Trustee or director, Officer | 1 | $0 | $0 |
| Noel Simpson | Treasurer Trustee or director, Officer | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 853 NEW JERSEY AVE SE STE 200, WASHINGTON, DC 20003-5022
- In care of
- % GAIL DAMOTA
- Principal officer (990 for 2025)
- Gail daMota, 853 New Jersey Avenue SE Ste 200, Washington, DC 20003
- Signed the 990
- GAIL DAMOTA, President
- Phone
- (202) 955-5510
- Website
- www.efc.org
- Return prepared by
- Mullins PC
Mission
See Schedule O
Program accomplishments
- 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
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 52-1801566
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 1994
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $2,368,808
- Income (IRS master file)
- $1,512,915
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $1,512,915 | $1,430,300 | $2,368,808 | XML |
| 990 | December 2024 | $1,461,321 | $1,455,016 | $2,335,382 | XML |
| 990 | December 2023 | $1,338,609 | $1,314,578 | $2,279,778 | XML |
| 990 | December 2022 | $1,314,578 | $1,248,081 | $2,242,246 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 52-1801566).
Questions about EDUCATION FINANCE COUNCIL INC
- What is the EIN of EDUCATION FINANCE COUNCIL INC?
- The employer identification number (EIN) of EDUCATION FINANCE COUNCIL INC is 52-1801566.
- Is EDUCATION FINANCE COUNCIL INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1994.
- Are donations to EDUCATION FINANCE COUNCIL INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does EDUCATION FINANCE COUNCIL INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of EDUCATION FINANCE COUNCIL INC due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did EDUCATION FINANCE COUNCIL INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of EDUCATION FINANCE COUNCIL INC?
- The 990 for the year ended December 31, 2025 names Gail daMota.
- Who are the officers and directors of EDUCATION FINANCE COUNCIL INC?
- The 990 for the year ended December 31, 2025 lists 11 people; 2 received compensation from the organization, the highest $316,844 (Gail daMota, President).
- How much revenue does EDUCATION FINANCE COUNCIL INC have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $1,512,915, expenses of $1,430,300 and total assets of $2,368,808 at year end.
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