Lumina Foundation

Lumina Foundation is a private, Indianapolis-based foundation with about $1.4 billion in assets. Its mission is to expand student access to and success in education beyond high school. Since its founding in August 2000, Lumina has made grants totaling more than $250 million.[2][3]

Lumina Foundation
FoundedJuly 31, 2000 (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

History

Lumina Foundation is a conversion foundation created in mid-2000 as USA Group, Inc., the nation's largest private guarantor and administrator of education loans, 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]

Early initiatives

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]

Goal

Lumina's goal is to increase the proportion of Americans with what it calls "high-quality" degrees and credentials to 60 percent by the year 2025.[8] Lumina pursues this goal by identifying and supporting a proprietary definition of effective practice, through public policy advocacy, and by using communications and convenings to build public will for change.[9]

Presidents

References
  1. "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). 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. "Goal 2025".
  9. "Lumina Foundation for Education Announces Third-Quarter Grants".
  10. "President's Corner". Retrieved 2008-12-11.
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